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GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General 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.

Fiat 500L launches

The Fiat 500L – a larger Fiat 500 based on the Punto – has launched in Italy ahead of going on sale in the UK in early 2013. We had the official arrival of the Fiat 500L at the Geneva Motor Show in March, and now we get the 500L’s official launch in Turin – together with lots of new photos and a video – before the 500L goes on sale around the world. The 500L is actually based on the underpinnings of the Punto to create a 500 MPV and, sensibly, Fiat has done with the 500L  what MINI did with the Countryman and slapped an iconic badge on even though the 500L bears scant resemblance to its cute little sibling.

Citroen DS3 at Frankfurt

  Citroen will be bringing the new DS3 to Frankfurt The DS3 – a MINI competitor – is the first model in Citroen’s DS range, designed to be an upmarket range of cars based on their more prosaic ‘C’ siblings. We can expect to see the Citroen DS4 in 2011 and the bigger Citroen DS5 in 2012. The DS3 is based on the new Citroen C3 – which will itself only be launched in November – and is slightly larger all round than the MINI.