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Bondholders snub GM, bankruptcy filing likely
Wed, 27 May 2009Nowhere 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.
VW Cross Polo (2010) Revealed
Fri, 19 Feb 2010The VW Cross Polo will debut at the Geneva Motor Show No, it’s not an angry version of the 2010 Volkswagen Polo but VW’s fake off-road version of the latest Polo designed to appeal to those who want a rufty-tufty car to cope with the demands of the Urban Jungle. The Cross Polo (we’d expected it to be the ‘CrossPolo’ as the Germans like to run words together, like ‘BlueEfficiency’ or EfficientDynamics, but the graphics on the Polo make it clear it’s the ‘Cross Polo’) is the latest version of the 2010 Polo to be revealed. Just this week we’ve had the 2010 Polo GTI and the 2010 VW Polo BlueMotion (see – it’s those joined together names again) and the Cross Polo makes the hat trick for pre-Geneva.
Maserati’s 50,000 sales target starting to look possible
Fri, 18 Oct 201322,500 sales so far in 2013 from Maserati, thanks to cars like the Ghibli (pictured) When Sergio Marchionne revealed in 2011 that he wanted Maserati sales to hit 50,000 a year by 2015, we were all very sceptical. After all, Maserati were only managing fewer than 6,000 sales a year at that time, so a target of 50,000 a year seemed mad. But it’s starting to look a distinct possibility.
