Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Glickenhaus may enter LMP1 class at Le Mans

James Glickenhaus, the man who brought you the Ferrari P4/5, is working on a new car to be used in top-level endurance racing such as the 24 Hours of Le Mans, possibly as early as 2014. Recently, sketches of the car—currently called the P4/5 Competizione LMP—have made their way to the Internet. Glickenhaus made his money in the stock market and film industry, but he became a household name among car guys when he commissioned the one-of-one Ferrari P4/5 Pininfarina.

Recalls and stop-sale orders leave GM cars sidelined at dealers

Memorial Day weekend is one of the busiest times of the year for car dealers around the country, but the recent spate of recalls and stop-sale orders for GM vehicles will be putting the brakes on a lot of potential sales. Specifically, Chevrolet, Buick, Cadillac and GMC dealers will be unable to deliver tens of thousands of large SUVs and crossovers, a segment that has seen a lot of demand in recent months because of unavailable parts for recalled cars, Automotive News reports. When it comes to large crossovers, the recall of 1.3 million examples of the GMC Acadia, Buick Enclave, and Chevrolet Traverse vehicles from the 2009-2014 model years is likely to hit dealers hard.