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GM to keep GMC, Pontiac, exec says

A senior General Motors executive today denied reports that President Barack Obama's automotive task force has pressured the automaker to dump GMC and Pontiac. Company sales chief Mark LaNeve also denied rumors that GM plans to terminate the franchise agreements of poorly performing dealers before June 1 to accelerate its dealership consolidation campaign. "The strategy we laid out for you [in February] is still the strategy," LaNeve, GM's vice president of vehicle sales, service and marketing, said today in an interview with Automotive News.

Ford posts record first-quarter profits

Ford Motor Co. said first-quarter net income increased 15 percent from a year earlier to $1.61 billion, as rising U.S. auto sales pushed North American profits to a record, offsetting deeper losses in Europe.

Lotus City Car Confirmed

Lotus City Car At the Paris Motor Show back in September Lotus arrived with more ‘New’ cars than any other car maker – much to everyone’s amazement. There was everything from the mid-engined Lotus Esprit to the Rapide-challenging four-door supercar that was the Lotus Eterne. In amongst the supercar-fest – that included the aforementioned Lotus Eterne and new Lotus Esprit – was the Lotus Elite, a new Lotus Elan and a new new Lotus Elise, a total of five new Lotus cars designed to turn Lotus in to an East Anglian Aston Martin.