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GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

MINI Countryman Coupe to be the MINI Paceman after all

MINI has revealed that the MINI Paceman Concept which we thought was going to hit production as the MINI Countryman Coupe will be the Paceman after all. There was always little chance that the MINI Paceman – a two door Countryman Coupe first seen at Detroit last year – was doing anything other than heading for production. After all, making a coupe version of the Countryman is an obvious niche for MINI – that great seeker of niches – to extend the MINI franchise in to.

There's a 2015 Ford Mustang convertible on the way, too

Almost immediately after the Ford Mustang debuted, buyers could choose from three body styles -- a hardtop, a rag-top convertible and a fastback (which actually came out a few months later than the hardtop and convertible). We already knew that the 2015 Mustang will arrive as a fastback (sorry, notchback partisans), but Ford has just announced that a drop-top version is also in the works. Pictures of the convertible sport a shiny "5.0" badge on the side and and chrome "GT" badge on the back, but we assume all the standard engines -- the 5.0-liter V8, 3.7-liter V6 and that new 2.3-liter EcoBoost turbo-four -- will be offered.