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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.

Chevrolet City Express priced at $22,950

Chevrolet has released pricing for the 2015 City Express urban work van, which debuted at the 2014 Chicago Auto Show just a couple months ago. The van is Chevy's answer to the Ford Transit Connect, and is actually based on the Nissan NV200. The Chevrolet City Express will start at $22,950 when it goes on sale in early fall, and will be powered by a 2.0-liter dual-overhead cam inline-four making 131 hp and 139 lb-ft of torque.

Lamborghini Gallardo pays homage to longtime test driver

Lamborghini is paying tribute to its longtime test driver, Valentino Balboni, by putting his name on a limited run of rear-wheel-drive Gallardos. It's called the LP 550-2 Valentino Balboni, which denotes the 550-hp rating. It's the only current Lamborghini that channels power to just the rear wheels.