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U.S. vehicle sales rise 2 percent in April

UPDATED: U.S. light vehicle sales rose 2 percent in April to 1.2 million units, slightly above analysts' expectations, as consumers continued to snap up new cars and other fuel-efficient models at a faster clip than trucks and SUVs. In another sign the U.S.

Obama sought Ghosn to run GM, ex-car czar says

The Obama Administration initially wanted Nissan-Renault CEO Carlos Ghosn to run GM after Rick Wagoner was ousted in 2009, and repeatedly pressed Fiat to put up cash for a stake in Chrysler, according to an upcoming book about the government bailout of General Motors and Chrysler. Steven Rattner, President Obama's auto adviser who steered the government's $85 billion bailout of GM and Chrysler, is about to publish a tell-all account about his six-month stint inside the White House. The Detroit News, Washington Post and Huffington Post obtained draft copies of the book--"Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry." It is scheduled to be published Oct.

Next-generation Chevy Volt to have 60-mile electric range?

On the heels of the recently announced price cut for the 2014 Volt, General Motors chief executive Dan Akerson is suggesting that we may see a Volt with 60-mile electric range in three or four years. In an interview with Bloomberg, Akerson suggests that GM is hoping for a "significant" improvement in the extended-range Chevy's ability to run solely on electric power. “For something to be significant to me, I gotta get at least 20 percent improvement in performance," the CEO asserted.