Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

Toyota Yaris Hybrid: Previews new Yaris

Toyota Yaris Hybrid - a preview of the next-gen Yaris Toyota are determined to shove hybrid gubbins in anything they build that moves, so we now get a hybrid version of the next generation Yaris revealed at Geneva. Just as Toyota aren’t saying if the new Prius+ will get the regular 1.8 litre hybrid drivetrain (we think it will), they’re also not saying if the Toyota Yaris Hybrid will get it. We’re assuming not, because it would then out-perform both the Prius and the Auris Hybrid, which would never do.

Renault Laguna GT (2008): first official pictures

By Chris Chilton First Official Pictures 22 February 2008 13:02 There are no Renaultsport badges anywhere on the new Renault Laguna GT but the crack chassis team have been hard at work under the skin. The same people who brought us the brilliant Clio Cup are behind the four-wheel steer system on this Laguna’s Active Drive chassis. Twenty years ago Japanese car makers seemed fascinated by the potential benefits of steering cars using both axles (and not just by nailing the throttle in your Starion) but the idea seemed to have disappeared until now.