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Concept Group International (CGI) expands its reach into China

CGI is one of the European leaders in vehicle development technology and is increasing its client base by providing engineering services to Chinese automotive manufacturers. CGI is currently operating in China utilizing the capability of its strategic partners based on the mainland, allowing Chinese automotive manufacturers to benefit from CGI's expertise and its history in engineering and innovative design.  CGI has developed key partnerships with major automotive manufacturers based in the UK and Europe and is fully committed to generating similar relationships in China. By providing OEMs such as Bentley, Jaguar Land Rover, Nissan and Aston Martin with best-in-class quality and on-time delivery, CGI is now poised to further develop its presence in the Asian market.

Ford posts $2.4 billion profit

Ford Motor Company reported a profit of $2.4 billion on revenues of $35.5 billion, excluding Volvo, during the second quarter, the automaker said Tuesday. A year ago, Ford posted net profits of $2.6 billion on revenue of $35.07 billion, including Volvo. Excluding Volvo, Ford's revenue in the second quarter of 2010 was $31.3 billion.

GM prepares to announce Pontiac closure next week

General Motors is preparing to announce early next week that the Pontiac brand will be eliminated, said a source familiar with the company's plans. The announcement will be made as part of an updated viability report to the U.S. auto task force, the source said.