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GM shifts gears, will keep Opel

General Motors' board of directors has decided that it will keep the Opel business and restructure it, putting an end to plans to sell the European operations to auto supplier Magna International. GM said it expects the restructuring of Opel to cost $4.42 billion (3 million euros), which it says is lower than the costs associated with outside bids for the company. GM said it will soon present its restructuring plans for Opel to the German government and other governments in Europe.

UAW: GM, Chrysler may not need additional federal funds

UAW President Ron Gettelfinger said today that General Motors and Chrysler LLC may not need additional federal loans beyond the $17.4 billion approved by the White House. "If we can get by without more money, that's what we want to do," Gettelfinger told Automotive News in an interview at Solidarity House in Detroit. He said how well the money holds out will depend on sales volume this year.

Toyota iQ concept

By Tim Pollard Motor Shows 11 September 2007 02:53 Toyota iQ: the lowdown The Japanese scored one of the very few surprises of the Frankfurt show this year, with the titchy iQ concept car that previews Toyota’s new sub-Aygo city car. It’s one of our favourite cars at the show, bristling with intelligent new thinking and design flourishes to make small cars interesting again. And the best news is that Toyota has committed to building a production version, probably due in European showrooms by 2009.