A round-up of this week's other motoring news
Hire-drive car figures drop
THE number of cars being registered for hire-drive in Ireland was down 65.8 per cent for the first six months compared to the same period last year.
Just 5,479 cars registered in 2009 have entered the hire-drive fleet this year, down from 16,026 until the end of June last year. Nissan tops the brands with the most cars registered for hire-drive this year, followed by Ford and Volkswagen.
The drop in hire-drives is likely to impact on the volume of used cars coming on the market in autumn. It was common for bargain hunters to pick up low-mileage recently registered cars in the autumn period as they were released back to dealers after the main holiday period.
State-owned Chinese firm in Opel bid
CHINESE CARMAKER Beijing Automotive (BAIC) may out- maneouvre Austro-Canadian firm Magna in the race for General Motors unit Opel with an offer that foresees less state aid and fewer job cuts.
BAIC’s non-binding offer document for Opel shows the state-owned group would use Opel to tap the huge and growing Chinese market. The offer hinges on GM’s agreement to share crucial propulsion technology such as fuel cells and hybrids that cut pollutants sharply.
“Industrialisation of a developing country such as China needs to have access to intellectual property. . .This is the key driver to Beijing Auto’s potential acquisition of Opel NewCo,” the offer states.
The plan comes as bankrupt US group GM and Magna negotiate final details of an offer for GM’s European operations centred on Opel. It would give BAIC 51 per cent and GM 49 per cent of the firm.
Magna is counting on the potential of the Russian market. It intends to take a 20 per cent stake but have its Russian banking partner Sberbank hold 35 per cent of Opel for a combined majority.
BAIC would invest €660 million for the majority stake and would need a six-year loan of €2.64 billion, which would be guaranteed by European governments.
Magna wants €4.5 billion in European state aid to help get Opel on its feet. Germany gave a €1.5 billion bridging loan in May in a last-second rescue attempt before GM went bust. – Reuters
Saab 9-5 enters final testing stages
WHILE GM is in turmoil and Saab is moving to Koenigsegg ownership, the test drivers are in the final testing stages of the next-generation Saab 9-5. With its debut near, camouflage is slowly coming off and these are the best pictures to date of the Saab flagship.
The 9-5 is expected to gain some extra weight, height and length over the current model. The wheelbase is also being increased by 14cm.
Sources say to expect a variety of powerplants, including a 2.0-litre turbo with 210 bhp and a higher 2.8-litre V6 for the European market. Diesel is expected, as well as a petrol-electric hybrid model. The public unveiling is set for the Frankfurt motor show in September.
Remodelled Ford S-Max unveiled
SEEN HERE undergoing tests in the Swiss mountains is the next edition of the Ford S-Max, due to be officially unveiled at the Frankfurt Motor Show in September.
While the interior is reported to remain unchanged, modifications at the front and rear are quite radical, especially at the tail lights, which will be re-shaped and equipped with LEDs.
The front of the car has also been re-worked to modify the bumper and grille. However, we believe the engine range will be left largely untouched.