Car Chute

Connect by Hertz Becomes Only Car Sharing Club to Sign Fleet Partnership With Fiat

- Connect by Hertz Introduces Alfa Romeo MiTo Sports Car to Car Sharing Club Fleet Along With More Fiat 500s to Meet Growing Demand

PR Newswire — September 2, 2010

UXBRIDGE, England, September 2, 2010 /PRNewswire/ — Connect by Hertz, The Hertz Corporation’s (NYSE: HTZ) global car sharing club, today announced its exclusive partnership with Fiat to introduce the iconic Alfa Romeo MiTo and add more Fiat 500s to its fleet. Connect by Hertz will be the only car sharing club offering the new Fiat models, supplying members with the opportunity to click, book and drive the latest additions at http://www.connectbyhertz.com.

The sporty Alfa Romeo MiTo has won wide acclaim for its unprecedented fusion of head-turning high end style, engineering flair, dynamic performance and driving pleasure. To celebrate this exclusive partnership and the addition of the exciting new vehicles, Connect by Hertz is offering customers the chance to get behind the wheel of a MiTo from just GBP5 an hour until September 30th 2010. The regular price is GBP6.95. Customers can also book and drive the Fiat 500 from just GBP3.95 an hour.

Driving rates include insurance, fuel, maintenance, cleaning, roadside assistance and congestion charges and tax following payment of an annual membership fee of GBP50. Incorporating the latest technology, the cars are equipped with keyless entry via a smart chip-enabled Connect Card.

Both the Fiat 500 and Alfa Romeo MiTo each have a CO2 output of less than 120g/km – exceeding the average voluntary target of 140g/km CO2 output set by the EU for the European Automobile Manufacturers Association. The low emissions combined with the excellent fuel economy and the vehicles’ compact size are ideal for city dwellers who want an eco-friendly car on their doorstep without the cost of vehicle ownership.

Bob Stuart, Senior Vice President of Global Sales at Hertz, comments: “We are extremely excited to have formed this exclusive alliance with Fiat for our car sharing club offer in the UK. The addition of the Alfa Romeo MiTo and the expansion of our Fiat 500 fleet really demonstrate Connect by Hertz’s commitment to transforming the way we travel in the city. The Fiat 500 has been extremely popular with customers, so we are reacting accordingly by adding more of these to the service. Both cars offer innovative and eco-friendly alternatives while remaining at the height of fashion – a perfect combination for our members.”

The simple click, book and drive system means customers have access to a self-service fleet of cars and vans 24/7 which can be booked online or over the phone using a debit or credit card. The latest keyless technology and neighbourhood parking provide an exceptionally convenient way of driving around the city.

“The Connect arrangement fits very well into our fleet strategy and is a high-profile, exciting deal,” says Andrew Humberstone, managing director, Fiat Group Automobiles UK and Ireland.

“This gives us a significant retail platform as this is exactly the right audience for our products,” adds Paolo Lo Monaco, finance and business development director, Fiat Group Automobiles UK and Ireland. “It puts the Fiat 500 and Alfa MiTo right where we want them to be – in the hands of young, environmentally-conscious people who are free-thinking about the car they want to drive.”

About Connect by Hertz

The fleet of Connect by Hertz is carefully chosen based on a set of aggressive standards established in the categories of manufacturing/maintenance quality, environmental sustainability, safety, and a blend of fun and functionality. The fleet includes: Alfa Romeo Mito, MINI Cooper D, Fiat 500, Ford Focus and Ford Transit LWB Vans (London), MINI Cooper D, Opel Meriva and Opel Corsa (Paris), MINI Cooper D, Ford Focus and Nissan Pixo (Berlin), MINI Cooper D, Toyota Yaris and Toyota Verso (Madrid) and Toyota Prius (New York City).

Connect by Hertz adapts the latest in end-to-end telematics to further provide superior customer service. Upon making a reservation, each member receives an email confirmation on bookings as well as a SMS alert indicating the reserved car’s license plate and location. To unlock and engage the vehicle, members simply need to swipe their card over the car’s radio-frequency identification (RFID) reader.

About Hertz

Hertz is the world’s largest general use car rental company, operating from over 8,200 corporate locations in 146 countries. Hertz is now in its 91st year of delivering quality car rental solutions to leisure and corporate customers. Product and service innovations such as Hertz #1 Club Gold, specially designed NeverLost satellite navigation systems, Hertz in-car DVD Entertainment and unique cars offered through the company’s Prestige, Fun and Green Collections, set Hertz apart from the competition.

About Fiat

One of the pioneer companies in the automobile industry, Fiat has produced around 90 million passenger cars and light commercial vehicles, including more than 400 models since 1899, when the company was founded in Turin, Italy. Some of Fiat’s vehicles have represented milestones in automotive history. The Automobiles business area of Fiat Group encompasses Fiat Group Automobiles (Fiat Automobiles SpA, Alfa Romeo Automobiles SpA, Lancia Automobiles SpA, Abarth SpA and Fiat Light Commercial Vehicles SpA), Ferrari SpA and Maserati SpA.

http://www.fiat.co.uk

For further information, contact:

Alicia Mistry Ketchum Pleon Email: alicia.mistry@ketchumpleon.com Tel: +44(0)20-7611-3574

Caroline Trotman-Dickenson Ketchum Pleon Email:caroline.trotman-dickenson@ketchumpleon.com Tel: +44(0)20-7611-3686

Subject Codes: PC/t.100902054109390, PR/dest.Public, PT/lang.en, PC/ticker, IN/AUT, IN/TRT, SU/CON, SU/JVN, SU/LIC, RE/United_Kingdom

Company Codes: NYSE:HTZ

NuVinci(R) N360 Drivetrain From Fallbrook Technologies Inc. Wins EUROBIKE 2010 Award

- Prestigious design award given to next generation of continuously variable bicycle drivetrain that previously won a EUROBIKE Gold Award in 2008 -

PR Newswire — September 2, 2010

FRIEDRICHSHAFEN, Germany, September 2, 2010 /PRNewswire/ — Fallbrook Technologies Inc. (Fallbrook) announced today that the NuVinci N360, the next generation of its NuVinci continuously variable planetary (CVP) drivetrain, has won a EUROBIKE 2010 Award at the EUROBIKE show in Friedrichshafen, Germany. This is the second EUROBIKE Award for the NuVinci CVP as the prior version won a EUROBIKE Gold Award in 2008. EUROBIKE is one of the largest international trade shows for the bike industry.

“It is a great honor to receive a second EUROBIKE award as bicycle industry experts have reaffirmed the benefits our NuVinci technology brings to bicycle riders and the bicycle industry,” said Alan M. Nordin, President of Fallbrook’s Bicycle Division. “NuVinci transmissions make shifting easy, are virtually maintenance free and are well suited for bicycles and the rapidly growing e-Bike market. As a result, we expect adoption and applications to continue to expand.”

With an infinite number of ratios available within its nominal 360% ratio range, the N360 drivetrain is an attractive replacement for bicycle derailleurs and internally geared hubs as it provides a ride and shifting experience unlike any other. The NuVinci CVP enables riders to maintain an optimum cadence regardless of terrain and makes shifting as easy as adjusting the volume on a radio.

Compared to the original NuVinci bicycle drivetrain, the N360 model is over 30% lighter, 17% smaller and has an increased ratio range. Shift effort is significantly reduced even under high pedal forces and there is 50% less twist rotation required to move between the lowest and highest ratios. In addition, for better protection, the hub interface is now housed inboard of the frame drop-out.

NuVinci drivetrains are available on an increasing number of models in various bicycle industry segments including city, commuter, cruiser, comfort, trekking, MTB and e-bike.

The EUROBIKE Awards, conceived and organized by iF International Forum Design, honor the best in bicycle design, and are considered one of the industry’s most prestigious design competitions. This year, over 500 entries from 30 countries competed in 12 categories.

“The EUROBIKE 2010 Award is the eighth major award won by NuVinci technology since its introduction in 2007. The first NuVinci-equipped bicycles also won the Popular Science Best of What’s New (Grand Award, Recreation) in 2007 and Fietsvak 2007 Bike of the Year award.

About Fallbrook Technologies Inc.

Fallbrook Technologies Inc. is a technology and manufacturing company dedicated to improving the performance and flexibility of transmissions for vehicles and equipment. Fallbrook’s NuVinci(R) continuously variable planetary (CVP) technology is applicable to virtually any machines that use a transmission such as bicycles, light electric vehicles, automobiles, agricultural equipment, and wind turbines, among others.

The NuVinci CVP represents a significant “shift” in drivetrain technology by transmitting mechanical power with spheres instead of gears as it uses a set of rotating and tilting balls positioned between the input and output components of a transmission. Tilting the balls changes their contact diameters and varies the speed ratio.

The NuVinci platform offers companies the flexibility to design and produce next-generation products that are better tailored to their unique business, market and competitive requirements. Beyond the NuVinci bicycle transmission, which is currently available, other commercial implementations are in various stages of development.

Fallbrook has built an extensive portfolio of over 350 patents and patent applications worldwide. To learn more about Fallbrook and its NuVinci technology, please visit http://www.fallbrooktech.com.

Subject Codes: PC/t.100902000007949, PR/dest.Public, PT/lang.en, IN/AUT, IN/CPR, IN/SPT, IN/TRN, IN/SPE, SU/AWD, SU/TDS, RE/Western_Europe, RE/Scandinavia

Automotive News Europe Names Honeywell’s Alex Ismail to ‘Eurostars’ List of Top Automotive Industry Executives

- Honeywell Transportation Systems CEO Named Top Supplier Division CEO

PR Newswire — September 1, 2010

ROLLE, Switzerland, September 1, 2010 /PRNewswire/ — Honeywell’s (NYSE: HON) Alex Ismail, President and CEO of Honeywell Transportation Systems, has been named the Automotive News Europe 2010 “Supplier Division CEO Eurostar.” The Eurostars awards are determined independently by the editors of Automotive News Europe and this year acknowledge the achievements of ten leading industry executives during what was the worst recession in decades.

Automotive News Europe recognized Mr. Ismail for “not panicking when the global economic crisis started to hit his division’s top product – turbochargers,” noting that he remained confident in “the technology it was developing, the improvements it had made to its production processes, and its global reach.”

“I’m honored to receive this recognition on behalf of all of our Honeywell employees around the world. By staying true to our fundamental commitment to innovation and customer service throughout the downturn and through the recent recovery, we have enhanced our reputation as the top turbo maker in the world,” said Ismail. “Turbocharging is a technology whose time has come – the industry has recognized that it is a core enabling technology to meet stringent emissions regulations and increased fuel-efficiency standards.”

Automotive News Europe will honor the 2010 Eurostars during a celebration dinner the day before the opening of the Paris Motor Show, and will feature the winners in a special show issue of ANE. To read the full profile of Alex Ismail and the other winners, go to http://www.autonews.com/section/ane.

Honeywell Turbo Technologies is the leading automotive turbocharger developer in the world, and is a business unit of Honeywell Transportation Systems, which also consists of Consumer Products Group and Friction Materials. As a leading automotive supplier, Honeywell Transportation Systems enhances vehicle performance, efficiency and appearance through state-of-the-art technologies, world-class brands, and global solutions tailored for its automotive customers around the world.

Honeywell International (http://www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit http://www.honeywellnow.com.

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.

Subject Codes: PC/t.100901030310766, PR/dest.Public, PT/lang.en, PC/ticker, PC/ticker.bloomberg, PC/ticker.rics, IN/ARO, IN/AUT, IN/TRN, SU/PER, SU/AWD, RE/Western_Europe

Company Codes: NYSE:HON, Bloomberg:HON@US, RICS:HON.N

Motorists Could Face Repair Costs of GBP300 Million as They Come Out of Manufacturer Warranty

PR Newswire — September 1, 2010

BURNLEY, England, September 1, 2010 /PRNewswire/ — According to new data by Warrantywise, the UK’s leading warranty provider, over 1 million* cars due to come out manufacturer warranty in September 2010 could cost their owners over GBP300 million in repair bills in the fourth year of ownership. (*Source: Warrantywise estimate, August 2010).

Each motorist could face an annual repair bill of over GBP700* in the fourth year of ownership alone, with top faults like Sensors, Steering and Suspension, and Alternators most likely to fail.

Table 1: Top 3 faults – average costs in year 4

Vehicle Fault Fault Fault Ave Repair Cost

BMW 3 Series Turbocharger ABS Electrical GBP556 GBP1,130 GBP690 Faults GBP332

VW Golf Sensor Gearbox Steering GBP432 System GBP199 GBP1,167 GBP362

Audi A4 Gearbox Fuel system Ignition GBP630 Coil GBP1,709 GBP505 GBP98

Vauxhall Astra Alternator EGR Valve Suspension GBP411 GBP287 GBP448 181

Ford Focus Alternator Air Con Fuel System GBP305 GBP178 GBP385 GBP528

BMW 5 Series Suspension Turbocharger Fuel System GBP506 GBP549 GBP1299 GBP507

Vauxhall Corsa Steering Engine EGR Valve GBP320 System GBP742 GBP641 GBP357

Audi A3 Cylinder Radiator Turbocharger GBP521 Head Gasket GBP249 GBP1,275 GBP1,134

Ford Fiesta Clutch Fuel System Suspension GBP370 GBP183 GBP433 GBP136

Mercedes-Benz C Suspension Air Flow Meter Alternator GBP442 Class GBP276 GBP312 GBP486

Lawrence Whittaker, Managing Director of Warrantywise, comments: “The common arguments for not getting a warranty often start with the notion that modern cars are ‘reliable’. However, a car is a mechanical object and as with all mechanical objects, the chances of a part failing are extremely high. Manufacturers that were considered to be reliable 10 years ago may be holding onto that reputation, but the figures for warranty claims show that certain manufacturers have sacrificed quality for volume, as we have seen with Toyota recently.

“The second argument is that warranties aren’t worth the paper they are written on’. However, not all warranties are equal and with Warrantywise, motorists can save hundreds of pounds on repair bills.

“By getting a warranty, you can effectively be ‘in profit’ if you compare the costs of a warranty to the likelihood of major failure. Our Warrantywise Policy has been designed for people to claim on, which is a very different product than other warranty policies. Over 59% of our customers make a claim on their warranty in the first 12 months according to our figures.”

Subject Codes: PC/t.100901030120947, PR/dest.Public, PT/lang.en, IN/AUT, IN/INS, IN/TRN, SU/SVY, RE/United_Kingdom

AVL to Acquire NTC Powertrain

PR Newswire — August 31, 2010

GRAZ, Austria, September 1, 2010 /PRNewswire/ — AVL Holding GmbH announced that it has signed a letter of intent to acquire NTC Powertrain Australia, USA and UK. NTC has vast experience in the development of transmissions for the high volume passenger car market and will form a key part of the AVL Passenger Car Transmission division. Helmut List, CEO of AVL List: “The depth of experience, resources and capabilities of the combined AVL and NTC powertrain teams will further leverage advanced technology solutions for customers worldwide and will assist AVL to significantly expand the range of services provided to the global automotive market.”

NTC Powertrain CEO Mr Richard Tamba stated “AVL and NTC share a common goal to bring high technology reliable designs to our customers with a focus on customer satisfaction and on time delivery of projects. Together AVL and NTC form the largest independent powertrain technology provider offering full technology solutions from analysis, through concept, design, testing and production implementation. NTC is honoured to have been invited to be part of the AVL family and we can now offer our combined services from facilities worldwide.”

NTC Powertrain is best recognised for the role it played in the core development of Borg Warner’s DualTronic technology and the design of the VW DQ250 during a 12 year exclusive retainer agreement that expired in February of this year. NTC has developed more than 12 DCT’s and 5 Automatics that are currently in various stages of high volume production. NTC are also a provider of powertrain design and development services to the marine, military and mining industries. NTC will continue to operate from all of its current facilities and will be looking to further strengthen its team of experienced engineers.

AVL is the world’s largest independent company for development, simulation and testing technology of powertrains (hybrid, combustion engines, transmission, electric drive, batteries and software) for passenger cars, trucks and large engines. The high-tech company AVL employs 4,300 people worldwide. Turnover in 2009 was 600 million Euro.

Contact

Michael Ksela, company spokesman for AVL, phone +43-1-523-4088, e-mail: michael.ksela@scoopnextlevel.com

Subject Codes: PC/t.100831190115080, PR/dest.Public, PT/lang.en, IN/AUT, IN/TRN, IN/RIT, IN/TRT, SU/ACC, RE/Austria

Magna Plan of Arrangement Completed

PR Newswire — August 31, 2010

AURORA, Canada, August 31, 2010 /PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that the plan of arrangement to eliminate Magna’s dual-class share structure has been completed. Magna’s common shares will commence trading under the symbol ‘MG’ on the Toronto Stock Exchange at the start of trading on September 1, 2010.

About Magna

We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have approximately 76,000 employees in 242 manufacturing operations and 76 product development, engineering and sales centres in 25 countries.

Contact

For further information, please contact Vince Galifi, Executive Vice-President and Chief Financial Officer at 905-726-7100 or Louis Tonelli, Vice-President, Investor Relations at 905-726-7035.

Subject Codes: PC/t.100831162914382, PR/dest.Public, PT/lang.en, PC/ticker, PC/ticker.bloomberg, PC/ticker.isin, PC/ticker.rics, IN/AUT, IN/FIN, RE/Canada

Company Codes: NYSE:MGA, Toronto:MG.A, Bloomberg:MGA@UN, RICS:MGA.N, ISIN:CA5592224011

Fallbrook Technologies Inc. Announces Availability of the N360 Version of its NuVinci(R) Continuously Variable Bicycle Transmission

- The next generation of the award-winning NuVinci(R) drivetrain is over 30% lighter and 17% smaller with enhanced shifting. Bicycle OEMs are including it on more new models. -

PR Newswire — August 31, 2010

FRIEDRICHSHAFEN, Germany, August 31, 2010 /PRNewswire/ — EUROBIKE 2010 — Fallbrook Technologies Inc. (Fallbrook), announced today the availability of its N360 bicycle drivetrain utilizing NuVinci(R) Technology. The N360 is the next generation of Fallbrook’s award-winning Continuously Variable Planetary (CVP) transmission for bicycles. The NuVinci CVP is a significant “shift” in drivetrain technology, transmitting mechanical power with spheres instead of gears. With an unlimited number of ratios available within its nominal 360% ratio range, the NuVinci CVP is a highly attractive replacement for bicycle derailleurs and internally geared hubs as it provides a ride and shifting experience unlike any other.

Compared to the NuVinci bicycle drivetrain launched in 2007, the N360 model has an increased ratio of 360%, is over 30% lighter and is 17% smaller. Shift effort is significantly reduced even under high pedal forces and there is 50% less twist rotation required to move between the lowest and highest ratios. In addition, for better protection, the hub interface is now housed inboard of the frame drop-out.

“The original NuVinci bicycle CVP introduced a totally new cycling experience – very easy shifting,” said Jack Brandsen, Fallbrook’s Director of European Marketing and Sales. “The typical reactions after the first ride were: ‘It’s so smooth! or it’s so easy!’ However, bicycle manufacturers told us they would put it on more models if we could make the drivetrain lighter and smaller. We listened to the market and the N360 is the result. It’s now being offered on many additional bicycle models including a number of e-Bikes.”

The Gepida Reptila, Mosquito Classis Energy, Raleigh Dover 360, and Victoria NuVinci are some examples of new e-Bikes that will offer the N360 drivetrain. “The N360′s ease of shifting is particularly beneficial for e-Bikes,” said Alan M. Nordin, Fallbrook’s Bicycle Division President. “e-Bike riders will shift more and that can result in less battery drain when starting up or going up a hill, which in turn equates to increased battery range.” Examples of new European bike models with the N360 include the Batavus Venturo, Panther TR999 Gepard-N and Simpel Wegwarts and new North American N360 bike models include the Breezer Uptown Infinity, Ellsworth Enlightenment, and Organic Edwin.

For bike dealers looking to upgrade existing bicycles, an N360 aftermarket conversion kit is also available. Bicycle dealers in Europe will be able to order it directly on the NuVinci website, http://www.nuvinci.com where there is also a list of aftermarket kit distributors for other parts of the world.

About Fallbrook Technologies Inc.

Fallbrook Technologies Inc. is a technology and manufacturing company dedicated to improving the performance and flexibility of transmissions for vehicles and equipment. Fallbrook’s NuVinci(R) continuously variable planetary (CVP) technology is applicable to virtually any machines that use a transmission such as bicycles, light electric vehicles, automobiles, agricultural equipment, and wind turbines, among others. The NuVinci CVP uses a set of rotating and tilting balls positioned between the input and output components of a transmission. Tilting the balls changes their contact diameters and varies the speed ratio.

The NuVinci platform offers companies the flexibility to design and produce next-generation products that are better tailored to their unique business, market and competitive requirements. Fallbrook has built an extensive portfolio of over 350 patents and patent applications worldwide.

To learn more about Fallbrook and its NuVinci technology, please visit http://www.fallbrooktech.com.

Subject Codes: PC/t.100831150115303, PR/dest.Public, PT/lang.en, IN/AUT, IN/ENT, IN/TRN, SU/PDT, SU/TDS, RE/Western_Europe, RE/Scandinavia

Magna Plan of Arrangement to be Implemented

PR Newswire — August 31, 2010

AURORA, Canada, August 31, 2010 /PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that, after the close of markets on August 30, 2010, the Ontario Divisional Court dismissed the appeal of certain dissident minority shareholders of Magna and upheld the decision of the Ontario Superior Court approving the previously announced plan of arrangement to eliminate Magna’s dual-class share structure. The decision of the Divisional Court followed a hearing held on August 26, 2010.

As Magna has been notified that the dissident shareholders do not intend to appeal the Divisional Court’s decision, Magna expects to implement the arrangement later today. Upon closing, Magna’s Class A Subordinate Voting Shares will be redesignated as ‘common shares’. Magna’s common shares will trade under the symbol ‘MG’ on the Toronto Stock Exchange and will continue to trade under the symbol ‘MGA’ on the New York Stock Exchange.

“We are very pleased with the Court’s decision and that we are finally in a position to close the arrangement, which has received strong support from Magna’s shareholders,” said Vince Galifi, Executive Vice-President and Chief Financial Officer. “With the transaction completed, we can refocus on pursuing our long-term growth strategy, including further investments in both innovation and emerging markets, in order to continue to serve our customers around the world.”

About Magna

We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have approximately 76,000 employees in 242 manufacturing operations and 76 product development, engineering and sales centres in 25 countries.

FORWARD LOOKING STATEMENTS

Quinn Insurance: Car Maintenance Advice

PR Newswire — August 31, 2010

LONDON, August 31, 2010 /PRNewswire/ — Keeping a car on the road is expensive business. As well as giving you a great deal on your car insurance (http://www.quinn-direct.co.uk/) the kind folks at Quinn have provided us with some great tips for keeping your car in tip top condition.

Basically, keeping your car in good working order makes a lot of sense. There are always plenty of people who’ve been stung for expensive repairs when insurance & MOT time rolls around every year. A fair amount of this work can be avoided by taking care of your vehicle.

Here’s the good news: you don’t have to have the skills of Lewis Hamilton’s chief mechanic to keep your motor running smoothly. So with this in mind, Quinn Direct – a specialist provider of car insurance for young people (http://www.quinn-direct.com/car-insurance/young-driver.html), have created this guide to car maintenance for you to check out:

Tyre Pressures

Always check your tyre pressures every few week or so. Under inflated tyres will make you car’s handling worse, just like deflated tyres on a bicycle. Keeping the pressures checked and in line with the manufacturer’s recommendations will prolong the life of your tyres. It will also help you save fuel. Refer to your cars handbook for the required pressures for your tyres.

Tread Depth

In addition to checking the pressure of your tyres, do pay attention to their tread depth. The minimum legal requirement for tread depth is 1.6mm. If your tyres become worn down, they can skid – especially dangerous in the wet. So if this does happen, you can safely assume that your tyres are reaching the end of their life, and it is time to replace them.

Oil Levels

It is advised to check your oil once a month. Make sure that the car has been stationary with the engine switched off for at least five minutes. With the bonnet open, locate the dipstick, which is usually a bright colour for ease of recognition. Pull it out of its tube and wipe the oil off with an old cloth. Find the oil level marks on the end of the stick.

Slowly push the stick back in the tube and pull out again. Check the oil level; ideally it should be between the upper and lower marks. If it is nearing the lower mark then you should top it up with the correct engine oil for your model of car. Do this by replacing the dipstick and opening the filler cap (often found on the top of the engine). Pour some oil in and wait a few seconds for it to drain down to the bottom of the engine, and then re-check the level. Be careful not to overfill as this can cause leaks.

Brake Fluid

Check to see if your brake fluid is at the right level (your dashboard will have a check light), however do not attempt to top it up yourself. Leave this job to the mechanic when you take it for a service.

Coolants

Top up your water levels in order to stop overheating. In the winter it is also advisable to have an anti-freeze agent in the water to stop the car from freezing up.

Windscreen Wipers

Depending on how often you use them, the wipers should be changed once or twice a year. Refer to your handbook on what replacement wiper you will need (this will save you money).

Bodywork

Check your bodywork for any damage and try to get it fixed as soon as possible. If you don’t, then rust will set in. Invest in touch-up paint for small nicks and scratches that may occur.

Servicing

It is important that you get your car served by a professional mechanic every six months or so. This will allow the mechanic to check for damage to the engine and radiators etc, and he can then replace worn out parts on your vehicle. Brake pads wear out and can lose their stopping power, so these will be one of the things that will be checked and replaced as part of the service. Air filters will also need changing every 6,000 miles and the mechanic can do that for you too.

So there you have it, a quick guide to keeping your car in good condition. If you follow these straightforward guidelines, you can cut down on the amount of money you have paid out in repairs. Plus, your car will be more of a joy to drive! For more car money saving tips visit Quinn Insurance today.

Contact: Carrie Greene, +44(0)117-930-8800 and Carrie.Greene@weare2020.com

Subject Codes: PC/t.100831111608636, PR/dest.Public, PT/lang.en, IN/AUT, IN/INS, SU/SVY, RE/United_Kingdom

Incoming search terms for the article:

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Magna Plan of Arrangement to be Implemented

PR Newswire — August 31, 2010

AURORA, Canada, August 31, 2010 /PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that, after the close of markets on August 30, 2010, the Ontario Divisional Court dismissed the appeal of certain dissident minority shareholders of Magna and upheld the decision of the Ontario Superior Court approving the previously announced plan of arrangement to eliminate Magna’s dual-class share structure. The decision of the Divisional Court followed a hearing held on August 26, 2010.

As Magna has been notified that the dissident shareholders do not intend to appeal the Divisional Court’s decision, Magna expects to implement the arrangement later today. Upon closing, Magna’s Class A Subordinate Voting Shares will be redesignated as ‘common shares’. Magna’s common shares will trade under the symbol ‘MG’ on the Toronto Stock Exchange and will continue to trade under the symbol ‘MGA’ on the New York Stock Exchange.

“We are very pleased with the Court’s decision and that we are finally in a position to close the arrangement, which has received strong support from Magna’s shareholders,” said Vince Galifi, Executive Vice-President and Chief Financial Officer. “With the transaction completed, we can refocus on pursuing our long-term growth strategy, including further investments in both innovation and emerging markets, in order to continue to serve our customers around the world.”

About Magna

We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have approximately 76,000 employees in 242 manufacturing operations and 76 product development, engineering and sales centres in 25 countries.

FORWARD LOOKING STATEMENTS