Auto News 5

General Motors said today it had reached a deal with some major bondholders that would give them a bigger stake in a reorganized automaker and could pave the way for a fast-track bankruptcy backed by the U.S. Treasury within days. Full story...

The European commercial vehicle manufacturers have called upon the European Union and Member States to act now to prevent business failures in the industry as the economic recession creates unprecedented problems for CV manufacturers. Full story...

Audi’s ‘baby’ SUV, the Q5, is showing its mean streak. Also making an appearance at this year’s GTI Wörthersee meeting was the Q5 Custom Concept – a one-off show car that could preview a hot ‘S’ version of the compact off-roader.The model features an imposing bodykit, reworked chassis and a retuned version of the S4’s supercharged 3.0-litre V6.

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General Motors paid about 90,000 U.S. employees three days early this week in an effort to reassure them that their wage payments would not be affected by any bankruptcy filing, a spokesman said. GM employees would normally have been paid on Friday. Full story...

General Motors Europe units Opel and Vauxhall are expected to post a record $3bn pretax loss for 2009, Financial Times Deutschland said on Thursday. Full story...

Saab Automobile said on Thursday the possibility of a bankruptcy filing by owner General Motors had not disrupted its sale process and that it was still in discussions with three potential suitors. Full story...

General Motors aims to reduce the number of North American parts suppliers from about 1,500 to around 1,100 in the next 18 months as the company shrinks due to restructuring. Full story...

India's top utility vehicles and tractor maker, Mahindra & Mahindra, on Thursday beat expectations with near-doubling in quarterly net profit. Full story...

As the battle for German carmaker Opel narrowed to a two-way race between Fiat and Magna International, overnight talks to shield Opel from parent General Motors' looming bankruptcy ended with no deal early on Thursday. Full story...

As the battle for German carmaker Opel narrowed to a two-way race between Fiat and Magna International, overnight talks to shield Opel from parent General Motors' looming bankruptcy ended with no deal early on Thursday. Full story...

Continental's banks want to stop it from acquiring rival Schaeffler and running up further debt, Financial Times Deutschland reported on Thursday. Full story...

A late bid by China's Beijing Automotive Industry Corp (BAIC) for Opel could still be considered if the company makes a more detailed offer, German finance minister Peer Steinbrueck told reporters after marathon overnight talks between GM, the German government and three other bidders failed to produce a clear result. Full story...

Auto industry supplier Metaldyne Corporation and US subsidiaries have filed for Chapter 11 bankruptcy to address liquidity needs and facilitate a restructuring, the company said. Full story...

With annual volume now exceeding 200,000 units, the Mahindra Group has become a major force within India's burgeoning auto industry. The light truck specialist has also partnered with Renault to make the Logan for the local market and is planning further expansion into overseas markets, including US market entry at the end of this year. just-auto editor Dave Leggett recently caught up with the head of the group's automotive division, Dr. Pawan Goenka. Full story...

Tata Motors is talking with a state government in east India for 300 acres of land to build a vendor park, a senior executive said on Thursday. Full story...

Legend is finally set to return, as we reveal secret plans for stunning Focus Coupé – and it’s gunning for Scirocco...

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Tata Motors has concluded an agreement for amendment of its bridge finance loan, extending the final maturity of US$1bn by 18 months to 31 December 2010. Full story...

Here's an Italian family car that's dressed up to the nines. Take a look at the first pictures of Alfa Romeo's all-new 159 ahead of its official unveiling at the Geneva Motor Show next month.

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Exclusive images in this week's mag reveal Alfa Romeo's 8C Competizione on the road in Holland

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It’s all go at Alfa Romeo! New models and a planned US assault are all on the radar – led by this stealthy 159 saloon.

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