Toyota Banks Best-Ever Quarter

Brand was an unsustainable distraction from the start

(NEWSER) - As General Motors’ Saturn experiment ends with a whimper, it’s important to understand that the brand was a failure from the start. Some obituaries blame GM for not providing a fuller roster of vehicles to build customer loyalty—but if anything, the automaker gave Saturn too much, writes Mark Ritson. Saturn was created in the mid-'80s to compete with cheap Japanese imports. But in order to compete, Saturns had to be cheap, too, making the brand unprofitable from the start. More»

Ford, GM have best month of 2009

(NEWSER) - Some actual good news for the auto industry: All three US automakers saw sales of new cars jump from April to May, reports the New York Times. Granted, sales are still way down compared to last year, but the month-to-month leap offers a glimmer of hope among the bankruptcy headlines. Ford did best, with sales up 20% from April and down 24% from the previous May, the smallest yearly decline among all major automakers since October. More»

The ailing automaker looks no closer to avoiding bankruptcy, CEO says

(NEWSER) - General Motors lost nearly $6 billion in the first quarter, hampered by bankruptcy fears and slumping global sales. The company spent $10.2 billion while revenue declined to $22.43 billion—47% down from the previous year. However, the loss of $5.98 billion, or $9.78 a share, was actually better than the $11.05 analysts expected. The company is already on $15.4 billion of government life-support, and it's estimated that another $11.6 billion will be needed. More»

(NEWSER) - As General Motors' Pontiac line is phased out, Ben Wojdyla, on Jalopnik, remembers the truly great cars that bore the mark. If you've got one, keep your garage clean and await a payday.

• 2009 G8 GXP: "GM should be saved for no other reason than to put the G8 GXP on the road." This car fulfills the promise of the Pontiac brand in spades, 415 HP V8 and all.
• 1964 GTO: The vehicle that "ignited the original muscle car wars" will "always have a special place in every car guy's heart." A 325-horsepower V8 doesn't hurt.

Japanese automaker to seek government loans to pay for customer loans

(NEWSER) - With American credit markets dried up, Honda is seeking money from the Japanese government to help finance auto loans in the US, reports the Wall Street Journal. The Japanese government is planning to offer $5 billion through a semi-governmental organization, and Toyota is planning to seek funds as well. More»