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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.

Peugeot 407 Coupe (2009) drops petrol engines

By Richard Webber First Official Pictures 10 July 2009 09:40 Peugeot has dropped petrol engines altogether from its gawping 407 Coupé and will only be offering oil-burners in the revised range. The reworked 2.0-litre unit improves in economy and power, but the big news is a new 3.0-litre V6, which will be Peugeot’s most powerful production engine ever. The V6 unit was a joint development by PSA and Ford, and produces 241bhp and a hefty 331lb ft of torque between 1600 and 3600rpm.

Bertone may sell Nuccio supercar concept to Chinese collector

Italian design and engineering firm Bertone is in talks with a Chinese car collector to sell its one-off Nuccio supercar. "We are currently in close negotiations with a Chinese collector who wants to buy the Nuccio," Bertone CEO Marco Filippa told Automotive News Europe at the Beijing motor show. The asking price for the Nuccio, which took an estimated 15,000 hours to design, engineer and build, is about $2.64 million (2 million euros), Filippa said.