Chrysler posts $370 million net loss on costs tied to repaid loans

Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.

Lamborghini Gallardo LP 570-4 Spyder Performante leaks

The Lamborghini Gallardo LP570-4-Spyder Performante at LA Lamborghini has commited to bringing a new model to every motor show. Sadly, that means a new model in whatever minor variation on a theme Sant’Agata can muster rather than an all new model. Still, a real new model every motor show would be pushing it even for Audi, and a new variant each motor show is still impressive from a company with just one current model – the Gallardo.

Volvo poised for V8 Supercars entry Down Under in 2014

Volvo has confirmed that it has entered a factory team into the V8 Supercars for 2014. Volvo Polestar Racing will enter one of the world’s biggest touring car categories with a pair of V8-powered S60s, joining Nissan, Mercedes, Holden and Ford (which is rumoured as potentially departing the series). Where will the S60 get its V8?