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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.

Auctioned Ferrari Dinos fetch more than £380,000

TWO FERRARI Dino cars have sold for a combined £383,000 during the same auction, despite one of them needing significant restoration. The model has in recent years become a golden goose for any owners lucky enough to have acquired one years ago, and the latest Silverstone Auctions sale shows what a cash cow even poor condition examples have become. A recently-restored 1971 Dino topped £250,000 inclusive of its buyer's premium, while the rusting form of a 1973 version still brought about a £132,500 sale.

Faulty airbags cause recall of 3.4 million cars

Toyota, Honda and Nissan are recalling more than 3 million vehicles made between November 2000 and March 2004 for faulty airbags from parts supplier Takata, Automotive News reported on Thursday. So far, 1.73 million Toyotas, 1.14 million Hondas, and 480,000 Nissans are involved in the recall. But the report from Automotive News suggests Takata also supplied other manufacturers with the same airbags.