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GM posts quarterly net income of $1.96 billion

General Motors Co., in its final financial snapshot before next week's initial public offering of stock, posted third quarter net income of $1.96 billion on revenues of $34.06 billion. The results, released Wednesday, were in line with a forecast issued last week. GM now has earned $4.16 billion on revenues of $98.71 billion through three straight profitable quarters this year--a dramatic swing after five consecutive annual losses.

Hyundai ix35 / Tucson ix launched

Hyundai has launched the ix35 / Tucson ix in Korea We reported a few days ago on the new Hyundai Tucson – the Hyundai ix35 in Europe – but we won’t get the release in Europe until Frankfurt, although there will be more dribbles of info before then. Still, interesting to look at the ix35 launch in its home market, where it will be known as the Hyundai Tucson ix. This is yet another car from Hyundai that will create a few waves of consternation amongst established names like Ford and VW.

2010 Audi Hybrid Q5 coming to the U.S.

Audi will offer a hybrid version of its Q5 crossover in the United States starting in late 2010, says Wolfgang Hatz, head of powertrain development for the Volkswagen group. In an interview Sunday at the Detroit Auto Show , Hatz said Audi must offer a hybrid model to compete with rival vehicles that already offer the technology, such as the Lexus RX 400H. The BMW X6 will be offered as a hybrid late this year, and Mercedes plans to roll out a hybrid in each of its major models starting with the S400 hybrid this year.