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GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

Kia four-door sports sedan concept

Kia isn't giving much away about its Frankfurt-bound concept car, indeed it hasn't even released its name yet, referring to it as the 'four-door sports sedan concept.' The press release talks of it as 'signalling a distinctive new design direction' for the Korean brand, yet the now-familiar 'tiger-nose' grille and Optima-esque A-pillar/cant rail/C-pillar highlight are very much in evidence. "No matter from which perspective you look at it - this concept car is roaring with energy and ready for take-off," says Peter Schreyer, Kia Motors Chief Design Officer."I believe the car is a strong statement from Kia: we are ready to fast forward to an all new chapter." We'll bring you full details (and hopefully a name) from IAA next month. Photo gallery: Kia four-door sports sedan concept  

Volkswagen Opens Order Book For Electric Golf

FOLLOWING on from the recent launch of its electric up!, Volkswagen has announced details of its next new eco-themed model, the e-Golf. Like with its city car, Volkswagen is adopting the policy of using a conventional car as the basis for its electric power Golf. The German car maker is claiming a range of 118 miles after a full charge, while top speed is an acceptable 87mph and the zero to 62mph sprint takes a brisk 10.4 seconds.