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BMW M5 comes alive with all-wheel drive

The 2012 BMW M5 will come with a handful of firsts for the sedan. It will be the first time the car houses a turbocharged powerplant, the first time a dual-clutch gearbox is used and, most importantly, the first time the M5 gets all-wheel drive. That's the word from BMW brass in Shanghai, where Albert Biermann, head of BMW M's research and development, confirmed the powertrain, Autocar reports.

Volkswagen launches 'Future of the Car'

Volkswagen has launched a new micro-site which looks at what people may be driving in the future - or whether they will be driving at all. Revolving around a short film set in the year 2028, in which a father tells his son about the automobile world of 20 years ago, the website showcases the Wolfsburg-based automaker's vision of the automotive world 20 years from now. These 'visions of the future', which take shape in the form of three autonomous concept cars called the 'One', 'Ego' and 'Room', offer an insight into the automotive world of tomorrow as seen through the tinted spectacles of Volkswagen developers and designers.

GM posts quarterly net income of $1.96 billion

General Motors Co., in its final financial snapshot before next week's initial public offering of stock, posted third quarter net income of $1.96 billion on revenues of $34.06 billion. The results, released Wednesday, were in line with a forecast issued last week. GM now has earned $4.16 billion on revenues of $98.71 billion through three straight profitable quarters this year--a dramatic swing after five consecutive annual losses.