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Renault says Saturn supply deal ‘just didn't add up'

In the eleventh hour of Roger Penske's venture to acquire Saturn from General Motors Co. to keep the brand alive, Renault's executive committee in France concluded, “Ca fait deux.” Rough translation: “It's not going to come together.” Despite Penske's statements that his organization had been in discussions with automakers around the world, ultimately his hopes had been pinned on only one: Renault SA. Penske and Renault CEO Carlos Ghosn are friends and talk frequently.

Hyundai i30 2010 revealed

The Hyundai i30 - updated for 2010 Hyundai’s cars get more competent and more appealing with every passing launch. We’ll soon see the Hyundai ix35 launched in the UK, followed soon after by the Hyundai i40 /Sonata. But Hyundai isn’t ignoring its existing models, and has just announced updates to the i30 for 2010.

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.