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Newsflash: Magna 'agrees to buy GM Europe': latest news
Fri, 29 May 2009Latest news: what Magna's deal means for GM Europe By Tim Pollard Motor Industry 29 May 2009 19:31 Canadian parts giant Magna this afternoon struck an agreement in principle to buy stricken GM's European arm, Opel and Vauxhall. The agreement has not yet been confirmed publicly and is still in the early phase, but brings to an end an uncomfortable round of talks in the past 48 hours which saw a spat between American negotiators and European politicians, and Fiat CEO Sergio Marchionne walking away from the table.Once sealed, the deal must first be approved by the German government, which is to provide interim funding to the new owners. However, Italian car maker Fiat isn't yet totally ruled out of the running, as Magna's chief exec earlier today intimated that he could be interested in cooperation.CAR Online will update with the latest developments as they happen.
2014 Mercedes-Benz S63 AMG revealed
Wed, 17 Jul 2013Mercedes-Benz's AMG performance-car division has officially revealed its new 577-hp S63 AMG ahead of the rapid sedan's public Frankfurt motor show debut in September. Several traditional AMG styling mods distinguish the S63 from recently introduced but lesser S-class models (“S-class Stunner,” Autoweek, May 27). They include a deep new front bumper, chromed blade grille, twin-turbo V8 badges on the side and beefed-up sills.
Penske said to be considering bid for GM's Saturn
Tue, 05 May 2009Roger Penske is considering a bid for General Motors' Saturn brand, a source familiar with the auto entrepreneur's plans said today. Penske is studying the issue but has made no proposals, said the source, who spoke on condition of anonymity. Penske, whose Penske Automotive Group dealership chain distributes Daimler AG's Smart microcars in the United States, is the second entity known to have an interest in Saturn.