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GM posts wider loss, burns through $5.2 billion in cash

General Motors, battered by a global economic collapse and buoyed by U.S. rescue loans, posted its sixth straight quarterly loss and burned through $5.2 billion in cash as revenue shrank by more than a third. The net loss of $9.6 billion in the fourth quarter compares with a loss of $1.5 billion a year earlier.

Design Contest: Car Design Awards China

阅读本文中文版本请点击这里 Inspiring and developing the creative talent of China's students is the goal of the Car Design Awards China 2010, a competition launched by CDN. Now open for registration to design students based in China, the competition aims to further improve the quality of designs emerging from what will soon be the largest automotive market in the world. Students are asked to work to briefs set by three automotive manufacturers - GM PATAC, PSA-Peugeot/Citroen and Volkswagen - with the entries judged by a panel of design directors from both international and domestic OEMs.

USED CAR BUYER CONFIDENCE “UNLIKELY TO IMPROVE” IN 2011 SAYS RAC

USED CAR buyer confidence is unlikely to improve significantly in 2011, meaning that demand for safety net products such as extended warranties will remain strong, says RAC Warranty. The company points out that at the end of 2010, used car warranties are still being enhanced – by both length of time and depth of cover – at around the same rates as during the worst parts of the recession, indicating that the mood of consumers remains cautious. Ian Simpson, sales and marketing director, said: “Next year, the measures that the coalition Government has undertaken to reduce public spending will really start to bite and that will have a definite impact on general confidence.