Auto News 5

Faced with a 3.5 billion euro ($4.97 billion) tranche of debt due next August, Continental AG plans to raise fresh equity to plug a hole in its balance sheet, three sources familiar with the matter told Reuters on Tuesday Full story...

OnStar, General Motors' in-vehicle safety and communications system, has launched a service to keep car thieves from starting a vehicle that has been reported stolen. Full story...

Continental AG's CEO Karl-Thomas Neumann is planning to propose a 1 billion euros ($1.42 billion) capital increase, a German daily newspaper said. Neumann will present a strategy concept to the supervisory board at the end of July. Full story...

Continental AG's CEO Karl-Thomas Neumann is planning to propose a 1 billion euros ($1.42 billion) capital increase, a German daily newspaper said. Neumann will present a strategy concept to the supervisory board at the end of July. Full story...

Volkswagen will begin assembling a new compact car at its plant in Mexico early next year following a $1 billion investment, a senior executive said. Full story...

Continental AG's CEO Karl-Thomas Neumann is planning to propose a 1 billion euros ($1.42 billion) capital increase, a German daily newspaper said. Neumann will present a strategy concept to the supervisory board at the end of July. Full story...

General Motors said Monday that it had received three binding takeover offers for Opel that it would consider together with the European countries that would be affected by the deal. Full story...

OnStar, General Motors' in-vehicle safety and communications system, has launched a service to keep car thieves from starting a vehicle that has been reported stolen. Full story...

Former Champ Car series' champion Paul Tracy has had strong words against his old rival Sébastien Bourdais who's been ousted of the Toro Rosso Formula 1 team. Full story...

SCOTTSDALE, Ariz.- Serious car enthusiasts can now order their very own Fesler-Moss 2010 Camaro. The Fesler-Moss team knows that one size does not fit all. This led them to carefully design a handful of customizable Camaro packages with the right balance of price and upgrades so that their packages would appeal to as many Camaro enthusiasts as possible. This arduous process resulted in three distinct packages that are each available with a new 2010 Camaro. Full story...

Formula one will enter a rare two-week period of total inactivity in August, as part of the teams association's efforts to cut costs. Full story...

According to the most recent report from ACEA (European Automobile Manufacturers' Association), 40,000 people die on Europe's roads every year, that is to say more than 100 per day. However, despite a threefold increase in traffic over the past 30 years, the number of fatalities has been halved in Europe during this same period, largely thanks to technological developments. Full story...

The signs are growing that Nico Rosberg is set to move from Williams to the Mercedes-powered McLaren team at the end of 2009. Full story...

Rolls-Royce Motor Cars has confirmed headline performance figures for Ghost, their new model which will be unveiled at the Frankfurt motor show in September. Full story...

The 2009 Focus uses high strength steel throughout its structure, is loaded with six standard airbags - including side curtains and seat-mounted air bags - and comes with new front seats designed to perform well in dynamic rear impact collisions. Full story...

When Volvo Cars launches a new car, an identical copy is released on a much smaller miniature-car scale. For the first time ever, a Volvo concept car is now also available as a miniature model. Full story...

AURORA, ON, Canada and MOSCOW, Russia, July 21 /CNW/ - Magna International Inc. ("Magna") (TSX: MG.A, NYSE: MGA) and Savings Bank of the Russian Federation ("Sberbank") (RTS: SBER, MISEX: SBER03) today announced that Magna and Sberbank have jointly submitted a revised offer to acquire a 55% interest in Adam Opel GmbH ("Opel") as part of a proposed solution that is intended to assure the long-term viability of Opel. Full story...

Munich. As well as having a huge influence on the international music scene, British bands like the Sex Pistols, The Clash and the Rolling Stones have also left their hallmark as style icons on the world of fashion. In a year when we are celebrating the 50th birthday of the brand, MINI presents an authentic lifestyle collection of fabrics and accessories showcasing essential "Brit chic" with Union Jack prints and rockstar badges. Full story...

Fifty years ago today, the Honourable Henri Courtemanche, Secretary of State of Canada, authorized the paperwork for a new corporate body operating under the name of Volvo (Canada) Ltd. In the five decades that followed, the Swedish company's iron mark logo became a well-known entity as approximately 350,000 Volvo vehicles found Canadian homes. Full story...

A devastated Jonathan Palmer has moved to defend Williams and the safety of the relaunched series amid rumours the standards of the British team's Formula 2 car design contributed to the death of Henry Surtees. Full story...