2008 Smart Car Engine/transmission 20k on 2040-parts.com

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.

GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

2011 Kia Picanto revealed

The 2011 Kia Picanto teased in a sketch ahead of Geneva 2011 Kia are on a bit of a roll at the moment (as are sister company Hyundai) with cars like the new 2011 Kia Optima and the new Kia Sportage taking Kia’s offerings to a much higher level in terms of design and style. And perception of quality. That upwards march looks set to continue with Kia’s version of the Hyundai i10 – the 2011 Kia Picanto – which is due to launch at the Geneva Motor Show in March 2011.