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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.

Volvo’s ‘Drive Me’ is the world’s first large-scale autonomous driving pilot project

Yes, you’ll be able to chat on the phone when the Volvo does the driving for you Like it or not, we’re rapidly moving to the point where autonomous cars will be the norm, with the driver only being involved in the act of driving by choice. Volvo – unsurprisingly with their stated goal of making sure no one dies in a Volvo in future – is at the forefront of the move to autonomous driving, and have teamed up with the Swedish Transportation Administration, the Swedish Transport Agency, Lindholmen Science Park and the City of Gothenburg in a project called ‘Drive Me - Self-driving cars for sustainable mobility’. The project kicks off next year with customer research and the development of the necessary technology and Volvo aims to have 100 autonomous cars on the roads of Gothenburg by 2017, where they’ll be driving round approximately 50 kms of selected roads, including commuter roads, motorways and regular queues.

Tokyo Motor Show: Lexus LF-NX Concept

WHILE this striking LF-NX concept might have only made its debut a few months a go, for the Tokyo Motor Show Lexus has unveiled an updated version of its striking compact SUV. With its bold grille generating plenty of column inches, the premium Japanese car maker has decided to remodel the car’s nose slightly as it continues on its path towards eventual production status. Also new is the inclusion of a 2.0-litre turbo petrol engine, which is likely to feature alongside Lexus’ usual hybrid offering.