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GM sells Suzuki shares to raise emergency funds

By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.

Rock Legend Swaps Microphone For Classic Racing Mini

NOT content with belting out hard rock tunes, AC/DC front man Brian Johnson will son be charging around Croft racing circuit at the wheel of a classic Mini. The rock great is scheduled to compete at Croft’s Nostalgia Weekend (2-3 August), which the circuit is describing as an irresistible blend of fast cars, wheel-to-wheel racing, vintage music and dress. Johnson will take to the circuit in the Historic Touring Cars class behind the wheel of a 1964 Mini Cooper that he purchased late last year after driving it in his television series ‘Cars That Rock With Brian Johnson’.

Honda Gear Concept

Rather than fighting for headlines at NAIAS, Honda debuted its new GEAR Concept at the Montreal International Auto Show. The subcompact GEAR is apparently inspired by fixed-gear bicycles (although quite how is unclear), described as a customizable vehicle that demonstrates the carmaker's way of providing vehicles for young, urban, Gen-Y lifestyles. "Subcompact cars are usually either utilitarian, but uninspiring or they're fun, zippy cars that are impractical and too expensive for the Gen-Y buyer," said Dave Marek, Design Director at Honda R&D Americas, Inc.