Stories from the world of motors
FIAT & GM 'PUT': Fiat and General Motors executives met in Geneva this week to discuss the controversial "put" option that will allow the Fiat group to sell GM its Fiat Auto car arm in 2005. GM argues that moves Fiat made to save its car arm last year rendered the option void, but Fiat disagrees and says it will need compensation to give up the right.
The Italian industrial group last week announced its operating profit surged to €142 million in the fourth quarter as its revival plan took hold, but its car unit, Fiat Auto, posted an operating loss of €97 million, below expectations.
Meanwhile, Ferrari chairman Luca Cordero di Montezemolo (above) looks set to take charge of Confindustria, Italy's powerful industrialists' federation, after the last remaining contender withdrew from the race. There have been rumours that Martin Leach, the former head of Ford of Europe could take on the role of Ferrari chief executive once he settles his dispute with Ford.
NO 'SAABARU' FOR EUROPE: Saab has decided not to bring its sporty estate 9-2x to the European market. The official line is that the decision has been taken for the time being, but it has been reported that the firm's research revealed a European launch would not prove viable. Based closely on the Subaru Impreza, with which it shares several key components, the Saab was always designed with the US market in mind.
AUDI'S A8 DIESEL: Audi is to introduce a 3-litre diesel version of its luxury A8. The 3.0 TDi Quattro tiptronic begins production this week and is likely to be priced in the region of €85,500. An Irish arrival date has not been confirmed, but sales start in Britain in April and Ireland is not expected to be far behind.
DESIGNER MOVES: Ford has poached Opel designer Martin Smith to become executive director of design for Ford of Europe. Bryan Nesbitt, who has worked for General Motors in the US, is replacing Smith at Opel. Nesbitt previously worked for Chrysler and was responsible for the design of the PT Cruiser.
CRASH INQUIRY: It's the motoring equivalent of poacher turned gamekeeper as Arnold O'Byrne, once known as "Mr Opel" in Ireland and a vocal supporter of the car industry, now finds himself chairing the inquiry into the Wellington Quay bus crash in his current role as a director of Dublin Bus. O'Byrne, who retired from Opel six years ago has not broken off all ties with the car firm's parental giant. He's also involved in the most lucrative part of car manufacturing these days, loaning money. He sits on the boards of GM finance companies for Europe and the Irish market.