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Newsflash: Magna 'agrees to buy GM Europe': latest news

Latest news: what Magna's deal means for GM Europe By Tim Pollard Motor Industry 29 May 2009 19:31 Canadian parts giant Magna this afternoon struck an agreement in principle to buy stricken GM's European arm, Opel and Vauxhall. The agreement has not yet been confirmed publicly and is still in the early phase, but brings to an end an uncomfortable round of talks in the past 48 hours which saw a spat between American negotiators and European politicians, and Fiat CEO Sergio Marchionne walking away from the table.Once sealed, the deal must first be approved by the German government, which is to provide interim funding to the new owners. However, Italian car maker Fiat isn't yet totally ruled out of the running, as Magna's chief exec earlier today intimated that he could be interested in cooperation.CAR Online will update with the latest developments as they happen.

Jaguar C-X75 concept

We waited with baited breath to see what the Jaguar design team had in store at the Paris motor show this year, and we weren't disappointed with the resulting showcar. Created by a team led by Matthew Beaven, Principal Designer at Jaguar Advanced Design, the C-X75 is both a celebration of Jaguar's 75 year history and a design showcase for the company's hybrid turbine technology. Read more about our opinion of the design in our 2010 Paris Motor Show Highlights and see the extensive compilation of images – including sketches and studio shots – in the photo gallery below.

Toyota goes on offensive, seeks 100 percent owner response to recall notice

Toyota Motor Corp., spurred by criticism that previous recalls failed to prompt enough owners to seek fixes, hopes to distribute mailings this week to the 2.3 million owners targeted in a January recall. Toyota says it will be vigilant in reaching each of the affected customers and hopes to have all repairs done within 90 days. The goal was outlined today as the automaker detailed its strategy for eliminating the possibility of unintended acceleration in the eight Toyota-brand models that were the focus of a Jan.