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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.

Ford celebrates 20 years of the Mondeo

FORD IS CELEBRATING the 20th Birthday of its hugely popular Mondeo model, first introduced in 1993 and with 4.5 million sales across Europe. Awarded the prestigious Car of the Year gong in 1994, the Mondeo was an instant hit and across the three generations has sold over 1,400,000 examples in the UK alone. Ford is celebrating the Mondeo’s second decade of success with a new internet video voiced by Hollywood actor Ray Winstone, star of such movies as “The Sweeney,” “Snow White and the Huntsman”, “The Departed” and “Great Expectations”.

BMW confirms X4 production

BMW has confirmed plans for an X4 SUV, a spokesman told Autoweek. As the name implies, the ute would slot in between the X3 and the X5 and likely get an M variant. BMW would distinguish the X4 from the other models with a bolder face and perhaps a curvier body--much in the manner in which the X6 stands out from the rest of the SUV line.