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| Ouch! $15.5 billion loss for GM in Q2 2008 Posted: 01 Aug 2008 09:26 AM CDT  The loss equates to $27.33 per share for the second quarter - including all the one-off charges and special items - compared with net income from continuing operations of $784 million or $1.37 per share in the second quarter of 2007. Ignoring these, GM posted a net loss of $6.3 billion or $11.21 per share. This is in stark contrast to a net income from continuing operations of $1.3 billion or $2.29 per share in the same period last year. Revenue for the second quarter was $38.2 billion, down from $46.7 billion in the year-ago quarter. However, combined revenues for regions outside North America were up more than $1.7 billion over the same period in 2007, registering at $20.8 billion. “The second quarter this year has been one of the fastest-changing markets I have ever seen,” GM Chief Financial Officer Ray Young told reporters. “We’re going to get this quarter behind us and move ahead”. GM already announced a major restructuring plan, including closing four truck plants, shift reductions at two truck plants, the addition of shifts at two car plants, a new Chevrolet global small car program and next generation Chevrolet Aveo compact car, introduction of a high-efficiency four-cylinder engine, salary worker job cuts, suspension of dividends, reductions in sales and marketing budgets, a strategic review of the Hummer brand and production funding approval for the Chevrolet Volt plug-in hybrid vehicle.  | ||||
| Audi RS6 Sedan to debut at the Paris show in October Posted: 01 Aug 2008 09:05 AM CDT  More details will probably be available after the debut at the French show and you can check out one more photo after the jump.
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| Edo Competition pushes the Lamborghini LP640 to 710 hp Posted: 01 Aug 2008 08:43 AM CDT  Last time German tuner Edo Competition messed up with the Lamborghini Murcielago LP640, they managed to squeeze 23 hp more from the engine and, with a total of 663 hp, the car clocked 345.7 km/h (214.8 mph) on the test track in Nardo, Italy, which is the highest speed a Lamborghini ever reached. Despite all that, the guys over at Edo weren’t satisifed and decided to give it another upgrade. This time, they managed to increase the power output by 47 hp more, which means that the LP640 by Edo develops an impressive 710 hp and 700 Nm (516 ft-lb). Acceleration from 0 to 100 km/h (62 mph) is done in 3.2 seconds, 0 to 200 km/h (124 mph) in under seconds and the estimated top speed is 360 km/h (224 mph). The extra performance was possible through new exhaust headers, new high flow catalytic converters, new mufflers, a new exhaust tip, new performance camshafts, modified cylinder heads and new high flow air filters plus reprogrammed engine controls, plus. Check out more photos after the jump.
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| New Citroen C5 gets tuning program from Musketier Posted: 01 Aug 2008 08:16 AM CDT  The German tuner Musketier decided that the Citroen C5 has potential so it decided to create a tuning program for the French sedan. The package doesn’t include a full body kit, only 20-inch dark alloy wheels wrapped in 245 rubber, a set of sporty chromed tailpipes, a subtle lip spoiler and side skirts. Which is good, because the C5 already looks good and these changes only make it a little more sportier. Mechanical changes include upgrade kits for the diesel engines (the 2.2 HDi was boosted 28 hp to 201 hp and the 2.7 V6 HDi 22 hp, to 240 hp) and a lowering kit that reduces ground clearance by 35mm. The procing for the packages starts at 799 Euros. Check out more photos after the jump.
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