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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.

Subaru Impreza Cosworth – Cosworth Impreza STI CS400 – announced

This is as much as you're going to see of the Cosworth Impreza for now You always know that when a production car gets the Cosworth moniker added you should be able to count on a more than useful increase in performance. Just look what the Cosworth Sierras and Escorts could do in comparison to their more prosaic siblings, and you have an idea of what Cosworth should be able to do with an Impreza. But the Impreza already has some more than fettled performance versions you can stroll in to your Subaru dealers and walk away with, so just what will a Cossie Scooby offer that the Impreza doesn’t already deliver?

First Sight: Skoda Octavia

The new Skoda Octavia was unveiled earlier this week in the Czech brand's museum at its home in Mladá Boleslav, Czech Republic. Car Design News was in attendance to check out the third generation of what the company calls ‘the heart of Skoda'. The new Octavia is the fourth model in the Volkswagen Group to be built on the new MQB (Modularer Querbaukasten) platform.