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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.

Jaguar Land Rover Special Operations division launches

Cars like the Jaguar F-Type Project 7 (pictured) will come from JLR’s Special Operations If the creation of the Jaguar Land Rover Special Operations division to create bespoke, heritage, ultra luxury and high performance Jaguar, Land Rover and Range Rover cars doesn’t shout how positive JLR are about the future, nothing will. Jaguar call it “meeting the increasing expectations of today’s most discerning and enthusiastic car customers“, but what they really mean is that JLR have now got so much back on their game with cars like the new Jaguar F-Type, new Range Rover and new Range Rover Sport that they now have buyers with deep enough pockets to pay for just about anything, so that’s what JLR are going to do with the Special Operations division; give them anything they want – at a price That will mean car like the Jaguar Project 7 F-Type we saw at Goodwood last year being possible, ultra-luxury versions of the Range Rover and even the creation of heritage cars like the new Lightweight E-Types could become a regular occurrence. With a team of engineers and and designers led by Paul Newsome, recently recruited from Williams Advance Engineering, the plan is to create halo vehicles for both the Jaguar and Land Rover brands, and a team of 150 at a new Technical Centre near Gaydon will have a customer commissioning suite for bespoke and premium personalisation.

Chevrolet preps a new car for NASCAR and for the showrooms

Chevrolet will replace the Impala in NASCAR with a new model that it also will sell to consumers. General Motors said the NASCAR Sprint Cup Series race car and the showroom model will closely resemble each other and will debut in 2013 as a new nameplate in the Chevy lineup. GM said it will unveil the cars later this year.