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New Toyota FT-1 and FT-1 Vision Gran Turismo Concept revealed

The new Toyota FT-1 Concept (pictured) will debut at Pebble Beach At the Detroit Motor Show in January, the impressive Toyota FT-1 Concept was revealed, with the general concensus being that it pointed firmly at a future Toyota Supra. And that thought is reinforced with the arrival of a new FT-1 Concept, ahead of a debut at Pebble Beach – and a ‘virtual’ FT-1 Concept in the guise of the Toyota FT-1 Vision Gran Turismo Concept. The new FT-1 Concept comes complete with a new graphite paint job, but perhaps the more interesting aspect is that the interior now looks more upmarket and more appealing.

Aston Martin drops Cygnet city car

Autocar is reporting that the diminutive Aston Martin Cygnet has been dropped from the company’s portfolio. The automaker, now owned by Prodrive and private equity firm Invenstindustrial, will focus on its “core product range,” also known as “good cars.” Autocar posits that the justification for the Cygnet was to continue producing V8 and V12 cars, while keeping its average CO2 emissions down. The Cygnet shared bones with the Toyota iQ city car and used a 97-hp, 1.3-liter engine and got 58.9 mpg using the U.S.

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.