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GM posts $6 billion loss, burns $10.2 billion in cash as sales fall
Thu, 07 May 2009General 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.
News watch October 2010: today's auto industry news
Fri, 29 Oct 2010Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 29 October 2010• Spyker has announced third-quarter losses have increased since its takeover of Saab. Spyker lost £35 million in 2010, compared to £3.6 million last year (BBC News)• GM will repay $2.1 billion of the Obama government's preferred stocks.
New Jaguar XJ snapped at the Nurburgring
Wed, 29 Apr 2009Spy shots of the new Jaguar XJ - caught testing at the Nurburgring The new Jaguar XJ is a huge deal for Jaguar. Jaguar has set the benchmark very high with its hugely successful, and widely acclaimed, Jaguar XF, and expectations for the new XJ are riding high. And rumour has it that the XJ will be an even more radical departure for Jaguar than the XF was.