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News watch May 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 1 June 2012• Peugeot-Citoren has been hit hardest by a 17% drop in overall domestic sales during May. PSA saw a 28% fall in sales, with Renault suffering a 14% decline, and Fiat 21%.

GM 'will lose money' on the new Chevrolet Volt

By Ben Whitworth Motor Industry 18 September 2008 14:39 Despite hanging its future on the make-or-break Chevrolet Volt plug-in hybrid car, GM has confirmed that it doesn’t expect to make a profit from it – at least not on the first-generation model. The Chevy Volt was unveiled this week amid much hoopla at GM's centenary. 'I don’t know that I’ve ever seen a situation where we make money, particularly when you load all the costs in,' Fritz Henderson, GM’s chief operating officer, told Automotive News Europe, referring to the company’s first-generation technologies.

New 2013 Porsche Macan revealed

The new Porsche Macan has been revealed – and the smaller SUV sibling to the hit Porsche Cayenne is all set to become another Porsche best-seller… but will it be a Range Rover Evoque beater? In a surprise reveal, the covers have been almost completely removed from the new Porsche Macan compact SUV, prior to its public debut at the 2013 LA Motor Show later in November. What emerges is an SUV that’s a clear evolution of the Porsche Cayenne, but which is also sportier, more sculptural and, well, more Porsche-like.