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GM posts quarterly net income of $1.96 billion

General Motors Co., in its final financial snapshot before next week's initial public offering of stock, posted third quarter net income of $1.96 billion on revenues of $34.06 billion. The results, released Wednesday, were in line with a forecast issued last week. GM now has earned $4.16 billion on revenues of $98.71 billion through three straight profitable quarters this year--a dramatic swing after five consecutive annual losses.

Ford Motor Company design chief J Mays to be based in London

J Mays, Ford Motor Company group vice president for design, will be moving from the US to London in February and adding a new title: Chief Creative Officer. The new posting will allow Mays to work more closely with designers at Ford's Premier Automotive Group, including Ian Callum at Jaguar, Geoff Upex at Land Rover and Volvo's next design head. He will spend about 10 days a month in Dearborn with the North American design team.

Caterham-Lola SP/300.R revealed

Caterham-Lola SP/300.R For the first time in a generation – well, 15 years – Caterham has produced a new car. And although it’s a track car – initially destined for a one-make series – it could spawn a new road car. The Caterham-Lola SP/300.R weighs in at under 600kg and features a bespoke Lola chassis and a Ford Duratec engine good for 300bhp.