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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.

Porsche says 1952 356 Cabriolet is oldest one sold in the U.S.

A 1952 Porsche 356 cabriolet owned by Robert Wilson of Oklahoma City, Okla., has been named the winner of a contest to find the oldest Porsche sold in America. Porsche Cars North America ran the contest, which asked owners to submit documentation showing when their cars were first sold, as part of its celebration of 60 years of selling cars in the United States. Wilson's car, which he found in a salvage yard, was imported in November 1952 by Max Hoffman, who started bringing Porsches to the United States in 1950.

Read the Spyker Cars press release announcing the purchase of Saab from GM

PRESS RELEASE: GENERAL MOTORS AND SPYKER CARS REACH AGREEMENT ON SAAB -- GM and Spyker Cars announce a binding agreement over the transfer of ownership of Saab -- Terms are agreed and the deal is expected to close in February -- Saab's future as an independent company is secured -- Saab will exit the orderly wind-down process -- Spyker shareholders will restructure at closure of the deal -- Swedish Government issues guarantee in favour of EIB ZEEWOLDE, The Netherlands (26 January, 2010) -- General Motors Company and Spyker Cars N.V, today confirmed the details of a binding agreement over the transfer of ownership of Saab Automobile AB of Trollh