Latest China's SAIC Considering Buying Stake in General Motors

Industry insiders are reporting that China's SIAC has expressed interest in buying a stake ofgENERAL MOTORS come its public offering in November, though it has yet to make a solid commitment. GM has declined to comment on the matter.

The U.S. government is eager to unload its 61% stake in GM after taxpayers bailed out / loaned the iconic automaker to the tune of US$50 billion. This comes despite the political ramifications of selling part of the brand to foreign investors or sovereign-wealth funds.

The government has rejected suggestions that the IPO should be limited to domestic investors, however the Treasury has state that no single investor or investor group would receive, "a disproportionate share or unusual treatment."

The Initial Public Offering (IPO) of GM shares will include those held by the U.S. Treasury, a union-managed retiree trust and the Canadian government. The government's plan is to offload their stake in GM in one month, though GM CEO Dan Akerson believes it could in fact take years. The Treasury will wait until after the November midterms in order to keep politics out of the float.

SAIC's bid is not that farfetched, either. Insiders note that SAIC has been building cars with GM CHINA since the 1990, with its home market a key source of strength for GM. Year-to-date sales were up 19% in August, for instance, even though the U.S. and Europe are still struggling.

Ford to launch facelifted Mondeo until global Mondeo

Ford is reportedly preparing to launch a subtle facelift for its European-market Mondeo sedan, but according to reports, this will be the last Mondeo revision before the new model – Ford's third new global product – hits the streets in 2014.

The interim Mondeo, pictured in the leaked photo on the right, will receive some minor adjustments to its appearance and specifications in an effort to keep it fresh, like the new Galaxy and S-Max minivans, until the new model arrives.

The next-gen Mondeo, however, will join the Fiesta and the new Focus as Ford's third new global car, replacing the Mondeo overseas and the Fusion in the North American market. According to reports, the new Mondeo/Fusion is being developed in the United States for expected simultaneous manufacturing – with few adjustments to local tastes – in the U.S., Europe and China.