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Chrysler says it needs another $2 billion in aid

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Chrysler said it will reduce fixed costs by an additional $700 million, cut 100,000 more units of production capacity, discontinue three more model lines and sell $300 million more in assets.

GM profits surge to $3.2 billion in first quarter

General Motors on Thursday posted net income of $3.2 billion for the first quarter, its fifth straight quarterly profit since emerging from bankruptcy. Stripping out one-time charges and gains, including $1.6 billion in income from the March sale of GM's ownership in Delphi Automotive, GM earned $2 billion before interest and taxes. GM's net income for the January-through-March period a year earlier was $865 million.

Company cars linked to speeding

COMPANY CAR drivers are far more likely to exceed the 70mph motorway speed limit than private motorists, according to an RAC survey. As many as 88% of those behind the wheel in firms' vehicles regularly exceed the limit compared with 67% of private motorists. Also, 62% of company of company car drivers said they reached speeds of 80mph on motorways, almost double that of regular motorists (32%).