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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.

Mini Beachcomber Concept at Detroit motor show 2010

This funky beach-biased concept car has just appeared at the 2010 Detroit Auto Show in January. Called the Mini Beachcomber Concept, this flight-of-fancy Moke-inspired show car gives us our first glimpse of how Mini's production-spec 4x4 crossover will look at launch - we'll see the real car at the Geneva motor show in March 2010 ahead of an autumn UK launch. This four-seater, four-wheel-drive machine has been designed without doors or a conventional roof, so that its occupants are not cut off from the outside world.

1957 Ferrari sells for record $12.1 million at auction

A 1957 Ferrari 250 Testa Rossa once again blew away the competition, setting a world record for cars sold at auction when it fetched an eye-popping $12.1 million on Sunday at an event on the grounds of the Ferrari factory in Maranello, Italy. The Testa Rossa was one of just 22 produced from 1957 to 1958, and the Scaglietti design is marked by prominent pontoon fenders. The cars also were successful racers, winning 10 of the 19 international races they entered from 1958 to 1961.