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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.

GM recalls 413,418 Chevrolet Cruze models to modify engine shield, prevent fires

General Motors is recalling all Chevrolet Cruzes sold in the United States for a fix aimed at preventing engine-compartment fires. GM said the recall covers 413,418 Cruzes, or all of the cars sold in the United States since the model's launch in September 2010 through May. The automaker said the recall is to modify an engine shield under the vehicle to prevent liquids from being trapped in the engine compartment, where a fire could start.

Bentley & Lamborghini SUV on hold?

Reports today say that VW is planning to put the Bentley SUV and Lamborghini Urus SUV on hold as VW fights to cut costs. Despite still strong sales, VW is now forecasting lowered sales going forward than previously expected and looking at ways to keep costs in check until the economy starts moving in the right direction again. And one of those cuts seems to be the launch of luxury SUVs by Bentley and Lamborghini.