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.

New Audi A3 price from £19,205

Audi has revealed that the new 3 door Audi A3 will cost from £19,205 with first UK cars due in September 2012. The new Audi A3 debuted at the Geneva Motor Show back in March and, despite looking almost the same as the old A3, is actually an all new offering from Audi. The new A3 gets a longer wheelbase thanks to the new MBQ platform, which gives more cabin room despite the almost coupe-like looks and a drop in weight thanks to aluminium bumpers and bonnet and high-strength steel.

Detroit Electric, Geely to develop fleet EVs for China

Geely Automobile Group and startup electric automaker Detroit Electric Inc. have agreed to develop electric vehicles and electric drivetrains for sale in China. Under the deal, the first EV will be a modified version of Geely's Emgrand EC7, which will go on sale early next year.