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More than 800 cars apply for Monterey Motorsports Reunion

The 2012 Rolex Monterey Motorsports Reunion will celebrate the 50th anniversary of the Shelby Cobra, and more than 800 applications for participation have been received. There will be 17 race groups at the track Aug. 17-19, but participation is limited to 550 cars.

Chrysler announces minivan recall for bearing and hub problem

The Chrysler Group is voluntarily recalling a small number of 2012 Chrysler Town & Country and Dodge Caravan minivans. The company says that some vehicles might be equipped with hub and bearing assemblies that were not fully machined, which could make them less durable. If the parts fail wheel separation could occur, possibly leading to a crash.

GM profits surge to $3.2 billion in first quarter

General Motors on Thursday posted net income of $3.2 billion for the first quarter, its fifth straight quarterly profit since emerging from bankruptcy. Stripping out one-time charges and gains, including $1.6 billion in income from the March sale of GM's ownership in Delphi Automotive, GM earned $2 billion before interest and taxes. GM's net income for the January-through-March period a year earlier was $865 million.