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Aston Martin has developed a new luxury commuter concept; the ‘Cygnet’ which will offer customers a distinctive, intelligent and exclusive solution for urban travel in style and luxury.

The South Korean government will offer tax breaks to buyers of three types of hybrid cars, including two Japanese models, as part of its plan to boost sales of energy efficient eco-friendly vehicles.

TRW has agreed to resume shipments of parts to Chrysler, after the latter is reported to have sought court intervention to help it resolve the dispute.

Preh has been awarded contracts to develop and produce the new electronic climate control systems for the 2010 Ford Taurus and Ford Flex models.

GM has announced that it is pulling out of it assembly plant in California, which was operated jointly with Toyota.

GM has opened negotiations with other interested parties to sell off its share in Opel, and could sign at least one memorandum of understanding this week as talks with Magna International, the preferred bidder, have hit obstacles.

Porsche has rejected a bid from VW worth up to Euro 4bn for half of the company, saying the offer was sent to the wrong address.

Ford of Europe is to transfer production of its C-Max from Germany to Spain.

Lear has been given until the end of June 09 to make an interest payment of $38m to its bondholders and to reach a deal with its banks to stay out bankruptcy.