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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.

Chrysler wants to start with 165 Fiat dealerships in the United States

Chrysler Group dealers who initially get Fiat franchises will be expected to start with small showrooms--2,500-3,000 square feet--enough to display three or four cars. Such a small showroom will be sufficient to sell the Fiat 500 minicar, which will arrive in dealerships at the end of this year. Chrysler expects to initially name 165 dealers in 119 U.S.

Tesla Model S – new Photos

New pictures of the Tesla Model S Dogged by controversy over the claim that they could deliver the Model S for $50,000, Tesla are sticking to their guns and pushing forward with development. And if they do manage to bring the Model S in at their target price point they will probably be on to a winner. Even if you turn that $50k in to £50,000 the Model S will still be offering a huge amount of – very innovative – car for the money, and will have the BMW 5 Series, Mercedes E Class and Jaguar XF in its sights.