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Chrysler first-quarter profits down

Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit. Profit fell 65 percent from the $473 million posted during the same quarter of 2012, Chrysler said in a statement today. First-quarter revenues dropped 6 percent to $15.4 billion.

Ford Shelby GT500 Cobra with 850hp pays tribute to Carroll Shelby

‘Friends of Carroll Shelby’ pay tribute to the man with an 850hp Ford Shelby GT500 Cobra, finished in Guardsman Blue/Wimbledon White stripe paint. Carroll Shelby – an man who understood performance cars perhaps better than any other American – died in May of this year, aged 89, after a life lived to the full. As a fitting tribute to the man who gave Ford the sort of performance cars they could never have dreamt of building, a very special Ford Shelby GT500 Cobra has been built to remember him by ‘The Friends of Carroll Shelby’.

First Fiat 500s will have stick shifts

The 2012 Fiat 500 , heading to U.S. dealerships later than first expected, is enduring another hiccup: The first units arriving in dealerships in late February will have manual transmissions, the company said. Moreover, only about 20 percent of the 130 Fiat dealerships will be open when those first cars arrive, said Laura Soave, head of the Fiat brand in North America, at the Detroit auto show last week.