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GM posts wider loss, burns through $5.2 billion in cash

General Motors, battered by a global economic collapse and buoyed by U.S. rescue loans, posted its sixth straight quarterly loss and burned through $5.2 billion in cash as revenue shrank by more than a third. The net loss of $9.6 billion in the fourth quarter compares with a loss of $1.5 billion a year earlier.

Mitsubishi's world debut at Paris

By Tim Pollard First Official Pictures 15 September 2008 09:37 Mitsubishi today released this mysterious teaser photo of a new car – thought to be the new Colt – that will make its world debut at next month's 2008 Paris motor show. It's hard to see much from the shadowy pixels that have been issued: it looks like a generic, modern Mitsu with the Lancer's deep grille and wedgy headlamps. CAR expects Mitsubishi to show a heavily revised Colt at the Paris show on 2 October 2008.

McLaren P1 lapping the Nurburgring in UNDER 7 minutes in stunning new video

The McLaren P1 laps the Nurburgring in under 7 minutes Ever since Ron Dennis claimed the McLaren P1 would be able to lap the Nurburgring in under seven minutes, we’ve been waiting for McLaren to prove it. It seems their initial attempts failed to get below the magic 7 minute barrier – unlike the Porsche 918 Spyder which lapped the Nurburgring in 6m 57s – but last month we reported that the P1 seemed to have achieved its goal by going 10 seconds faster than the Porsche in  an almost unbelievable 6 minutes 47 seconds. Unfortunately, we still don’t know officially just how quickly the P1 got round the Nurburgring, but we do now know that it was under 7 minutes thanks to a new video just released by McLaren.