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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.

Detroit Auto Show roundup

The 2012 NAIAS in Detroit, MI has proved to be exactly the dose of salts the US auto industry so desperately needed after a few very lean years for the event. Numerous concept and production cars made their debuts in the halls of COBO and, as ever, Car Design News was on hand to provide our in-depth live show coverage. Here's a full rundown of our reportage from NAIAS 2012: Acura Acura NSX Concept: Living up to the name Cadillac Cadillac ATS: Finally breaking into the premium mainstream?

Scandal-laden Jaguar up for auction

A STUNNING 1959 Jaguar XK150 Drophead Coupé with connections to one of the most famous British political scandals of all time has been lined up for auction. The car, with the number plate WLY 150, was owned by Dr Stephen Ward, the osteopathic physician who was at the centre of the Profumo Affair in 1963. Ward was the man who introduced John Profumo, Conservative MP and Secretary of State for War, to longstanding friend, model and showgirl Christine Keeler, who at the time was also allegedly in a relationship with Soviet spy Yevgeny Ivanov.