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Nissan announces its 'Power 88' five-year plan

Nissan CEO Carlos Ghosn has announced the firm's 2011-2016 business plan. The Nissan Power 88 plan aims to increase Nissan's global market share and sets strong profitability targets for Japan's No.2 carmaker. Power 88?

General Motors board recommends selling Opel to Magna-led group

General Motors Co.'s board has decided to support selling a majority stake in Opel to a group led by Canadian auto parts giant Magna. The move caps weeks of high-stakes maneuvering on both sides of the Atlantic that saw nationalism, labor issues and--perhaps most critical to GM, the use of its technology--all come into play. Magna and Russian lender Sberbank will get a 55 percent interest in Opel, the linchpin of GM's European operations for 80 years, as well as its British sister brand Vauxhall.

First Sight: Holden VE Commodore and Statesman

GM Holden last week launched its biggest program ever, the $1 billion all-new Holden VE Commodore range. Designed at Holden's Port Melbourne design center, the 4th generation Commodore is the first all-new model of the series to be fully designed and engineered in Australia. Previous generations of Commodore since 1978 have always been based on lengthened and widened Opel large car platforms of the day but since the demise of the European Omega in 2003, GM lacked a suitable rear-wheel-drive donor platform for a new Commodore, hence the clean sheet approach for the latest VE model.