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Chrysler first-quarter profits down

Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit. Profit fell 65 percent from the $473 million posted during the same quarter of 2012, Chrysler said in a statement today. First-quarter revenues dropped 6 percent to $15.4 billion.

SAIC wins LA Auto Show Design Challenge

China's SAIC, the parent company of Roewe and MG brands (yes, Morris Garages and what used to be Rover), took the top spot in the LA Auto Show Design challenge with its Mobiliant Concept, beating other contestants like BMW DesignworksUSA, Subaru, Mazda, Changfeng, Quoros, and others. The theme for this year's challenge at the LA Auto Show was "Biomimicry & Mobility 2025: Nature's Answer to Human Challenges." Entrants were directed to propose design concepts that integrated the concept of biomimicry into transportation concepts. Quite a challenge and quite an open theme, especially when you consider that last year's theme was pretty straightforward: "Highway Patrol Vehicles in the Year 2025." In 2012 the Subaru SHARC concept took the top prize.

Official: Honda F1 becomes Brawn GP

Honda F1 morphs in to Brawn GP Well, it’s good to see they survived! After reporting last week that the Honda F1 team was going to be the subject of a management buyout, thus securing the team and its employees, an official announcement has now been made and we can confirm that Ross Brawn has taken control of the Honda F1 Team, which will henceforth be known as Brawn GP. It would have been a mighty shame if Ross Brawn had been lost to F1 again.