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Mystery Porsche prototype destroyed in fire near Stuttgart

According to the Porsche-lovers at flatsixes.com, an unknown Porsche prototype caught fire after being taken home by an employee earlier this week. It reportedly took 19 firefighters to extinguish the blaze, which occurred in a home garage in Ludwigsburg, Germany (a city located near Porsche's home in Stuttgart). Fortunately, the employee and his wife suffered only minor injuries, but we assume the prototype is a complete loss.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

U.S. new car sales surge at fastest pace in nearly 7 years

U.S. sales of cars and light trucks surged 9 percent in November 1.24 million units and rolled off dealership lots at the fastest pace in almost seven years. The industry's annualized sales rate, adjusted for seasonal factors, rose to 16.4 million last month, up from 15.3 million a year earlier and easily topping analysts' forecasts in the 15.8 million range.