Auto News 5

The U.S. Federal Reserve has told GMAC LLC to raise $13.1 billion in new capital because of heavy lending losses and new costs for taking over loans from Chrysler LLC dealers and customers, the Washington Post reported today on its Web site. Full story...

Standard and Poor's lowered its corporate credit ratings on Hayes Lemmerz International Inc. Full story...

GMAC LLC needs about $11.5 billion in new capital as a result of the government stress tests, a person familiar with the matter said on Wednesday. Full story...

German auto parts group Continental said on Wednesday it was ready to hold talks with a Dubai-based firm on selling a French plant it plans to shut, which could bring an end to France's most high-profile industrial dispute. Full story...

Porsche Automobil Holding SE halted attempts to take over partner Volkswagen AG and instead agreed to explore a merger with Europe's biggest automaker. Full story...

The British government said on Wednesday that negotiations with Jaguar Land Rover on guaranteeing financing are continuing despite reports that the talks were in trouble. Full story...

General Motors and the University of Michigan will create a research institute where engineering students will study advanced combustion engines, battery technology and electric-vehicle manufacturing. Full story...

The SBK circus come to Monza this wee-end, the exciting high speed track near Milan, and home of the draft, high speed corners that lead to long straightaways, and tight chicanes. Full story...

After the initial four races of the season, BMW-Sauber's was the most visibly changed Formula car in the Barcelona garages. Full story...

The all-new 2009 Dodge Ram 1500 earned top honors in Edmunds' Inside Line head-to-head competition of full-size pickup trucks. The Dodge Ram 1500 beat the 2009 Ford F-150, Chevy Silverado and Toyota Tundra. The all-new 2009 Dodge Ram continues to win accolades, receiving 15 awards since its introduction last fall. Full story...

Grand Prix drivers on Thursday sided strongly against Max Mosley, after the FIA president suggested the sport could live without Ferrari. Full story...

Last year's winners of the Volvo Adventure, Green Sail from Russia, saved an entire park from being turned into a shopping centre in their home town of Nizhny Novgorod. On June 5-10, it is time for this year's finals in the global environmental competition. Will the consequences of the ten finalists' projects be equally dramatic? Full story...

There was a time when it was laughable to think a contender in North America's tough compact car market would have come from Korea. Kia's only been selling cars here for 10 years, but progress evidenced by their product expansion and competitiveness is arguably impressive. In fact, they've been out-performing much of the industry all spring. Full story...

Every season, the first European Formula 1 race is an opportunity for at least one team to show off an impressive new motor home. Full story...

There was a time when it was laughable to think a contender in North America's tough compact car market would have come from Korea. Kia's only been selling cars here for 10 years, but progress evidenced by their product expansion and competitiveness is arguably impressive. In fact, they've been out-performing much of the industry all spring. Full story...

Whitby, ON - MINI Canada has debuted a new spring campaign to promote the MINI hatchback and to celebrate the 50th anniversary of the MINI brand. The new campaign will feature advertising in both traditional mediums as well as some newer avenues. The campaign, which focus on the performance, individuality and heritage of the MINI brand, will feature transit shelter ads, superboards and online banners as well as resto- bars and fitness ads, and grocery store adbars. Full story...

The first official FIA Formula Two Championship test has concluded at Snetterton, with Canadian Rob Wickens finishing the day at the top of the timesheets with a time of 59.433s. Full story...

The Renault Formula 1 Team has abandoned KERS at least for the next seven races, the Spanish sports newspaper Diario AS claims. Full story...

Formula 1 chief executive Bernie Ecclestone said that new teams will be evaluated carefully before being shown to the 2010 formula one grid. Full story...

Mercedes-Benz's motorsport director Norbert Haug has moved to calm speculation that car manufacturers are considering pulling out of formula one. Full story...