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GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

McLaren's Stephenson honored by Art Center

McLaren Automotive design director Frank Stephenson was honored this weekend at the 80th anniversary of the Art Center College of Design in Pasadena, Calif. Stephenson is a 1986 graduate of the school, and he received the Creative Spirit Award along with three other alumni. The MP4-12C was also on display at the festivities.

Hyundai dealers will get Elantra coupe, redesigned Azera

Hyundai is continuing its recent product onslaught with two new or redesigned models to be launched by January 2012. Hyundai told dealers attending the NADA convention in San Francisco that a two-door coupe version of the 2011 Elantra will go on sale this spring and a redesigned Azera sedan will go on sale in January 2012. “They showed us a photo of it and it's gorgeous,” Doug Fox, a multi-franchise dealer who owns a Hyundai dealership in Ann Arbor, Mich., said of the Elantra coupe.