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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.

Lincoln MKC – it’s an upmarket Ford Kuga: 2013 Detroit Auto Show

Ford has revealed the Lincoln MKC Concept at the Detroit Auto Show, a titivated upmarket offering based on the Ford Kuga. Despite strong sales on the other side of the Pond, Ford is struggling in Europe – just like every other mainstream car brand – and they’re probably ruing the day they decided to unravel their Premier Auto Group, selling off Aston Martin, Volvo and – their biggest mistake – Jaguar Land Rover. Which means that if Ford want to get back in to the – potentially very profitable – realm of premium cars again they’re stuck with doing it with one of their ‘brands’.

London rush hour 'worst in UK'

ANALYSIS of in-car telematics data has revealed that London commuters get the worst deal in rush hour, with average speeds 30% slower than those across other British cities. The study of 20 million miles of telematics data by Direct Line Drive Plus shows that despite London having more congestion-fighting measures than anywhere else in the country, its road-based commuters suffer worse peak time traffic misery than anywhere else. During peak times, cars in Westminster travel at an average speed of just 10.06mph, compared to a figure of 14.38mph across the biggest British cities.