GENERAL MOTORS AGREEMENT:General Motors has agreed to keep 16 union-operated US plants open until at least 2011 in exchange for a cost-saving deal on health care and other concessions, according to the terms of the car giant's deal with the United Auto Workers union.
Under the agreement, GM - which owns the Opel, Saab and Chevrolet brands - would shift a retiree health-care obligation to a new trust in exchange for initial payments of $30 billion (€21 billion). It will also offer more buyouts to UAW workers, creating room for new staff to be hired at reduced wages and benefits. The UAW's national council unanimously endorsed the contract at a meeting in Detroit on Friday.
TERIOS LEADS ITS CLASS:The Daihatsu Terios has been voted a "4x4 Of The Year" in the budget class by specialist off-road magazine 4x4.
The 1.5-litre, five-door, five-seat Daihatsu saw off challenges from the likes of the Fiat Sedici and all-wheel drive models, such as the Volkswagen Golf 4Motion.
RENAULT ACQUIRE IRISH SUBSIDIARY:Renault Ireland will become a subsidiary of the Renault Group on November 1st, 2007. Bill Cullen (below), chairman of the Glencullen Group, has transferred the business to the Renault Group, but will continue to be involved in the motor industry as chairman of the Citygate Renault Group, whose dealerships account for 25 per cent of Renault sales in Ireland. Financial details of the deal have not been released. An insider told The Irish Times that they don't expect there to be many changes to the existing personnel and the new operation will continue to operate from Renault's existing headquarters in Santry. There is expected to be no change to the existing 34 dealerships and six parts and service centres. The new operation hopes to develop the brand to a market share of 9 per cent by 2010.