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Tesla first-quarter profit tops forecast, lifts sales outlook

By Deepa Seetharaman DETROIT (Reuters) - Tesla Motors Inc <TSLA.O> reported its first-ever quarterly profit on Wednesday, trouncing Wall Street estimates, as the 10-year-old automaker delivered nearly 5,000 Model S electric cars during the first three months of the year. The company, led by billionaire Elon Musk, said it expects to deliver 21,000 Model S cars worldwide, up 5 percent from its earlier target of 20,000. Eventually, global demand for its Model S electric car may surpass 30,000 vehicles a year, it said.

Chrysler recalls nearly 470,000 Jeep SUVs because they may shift into neutral on startup

DETROIT - Chrysler is recalling 469,000 Jeep SUVs worldwide because they can shift into neutral without warning on startup. The recall affects 2005 to 2010 Grand Cherokees and 2006 to 2010 Commanders. U.S. safety regulators say cracks in a circuit board can cause a faulty signal as the SUVs are being started. If the vehicles shift into neutral they can roll away. Chrysler says the problem has caused 26 crashes and two injuries.

VW wows festival crowd with super GTI concept

The Design Vision GTI is based on a standard Volkswagen Golf and was built specifically for the marque's biggest fans at their yearly gathering.

VW wows festival crowd with super GTI concept

The Design Vision GTI is based on a standard Volkswagen Golf and was built specifically for the marque's biggest fans at their yearly gathering.

US safety regulators investigate low-beam headlight failures in Chevy Corvette sports cars

DETROIT - U.S. auto safety regulators are investigating complaints that the low-beam headlights can go dark without warning on some Chevrolet Corvettes. The probe by the National Highway Traffic Safety Administration covers more than 103,000 Corvettes from the 2005 through 2007 model years. The agency says it has gotten 30 complaints from owners about low-beam headlight failure. No crashes or injuries have been reported. But in one case a driver ran over a discarded tire while trying to pull off the road.

Nissan's annual profit growth stalls

Japan's Nissan said Friday that its annual net profit had barely moved from a year earlier despite market conditions that helped rivals Toyota and Honda book soaring profits. The pair logged huge gains largely owing to a sharply weaker yen and cost-cutting that helped inflate their bottom line. Nissan, part-owned by France's Renault, has also benefited from the yen's decline with its fourth-quarter earnings jumping due to the weaker currency. But its heavy exposure to China, the world's biggest vehicle market, and recession-riddled Europe slammed the brakes on growth.

Barnes & Noble, Tesla, Activision, Green Mountain Coffee are big market movers on Thursday

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Barnes Technology blog TechCrunch reported that Microsoft Corp. is considering buying the bookstore chain's Nook e-book business outright. Cooper Tire The tire company said that its first-quarter net income more than doubled, but revenue missed Wall Street expectations. Nasdaq News Corp., up $1.46 at $33.44

Tesla Model S ties older Lexus for highest score ever in Consumer Reports magazine testing

DETROIT - The Tesla Motors Inc. Model S electric car has tied an older Lexus for the highest score ever recorded in Consumer Reports magazine's automotive testing. The Model S, which starts at $62,400 after a federal tax credit, scored 99 points on a scale of 100 in the magazine's battery of tests. "It accelerates, handles and brakes like a sports car. It has the ride and quietness of a luxury car and is far more energy-efficient than the best hybrid cars," Jake Fisher, the magazine's director of automotive testing, said Thursday in a statement.

Lamborghini hits road on anniversary tour of Italy

Hundreds of luxury Lamborghini cars powered through Milan on Wednesday at the start of a tour of Italy to mark the 50th anniversary of the company, which started out making tractors. The 350 sleek roadsters with a combined horsepower of 190,000 formed a four-kilometre (2.5-mile) long convoy that began the tour from the Sforza Castle in Milan city centre and will end on Saturday at the company's headquarters near Bologna.

Lamborghini hits road on anniversary tour of Italy

Hundreds of luxury Lamborghini cars powered through Milan on Wednesday at the start of a tour of Italy to mark the 50th anniversary of the company, which started out making tractors. The 350 sleek roadsters with a combined horsepower of 190,000 formed a four-kilometre (2.5-mile) long convoy that began the tour from the Sforza Castle in Milan city centre and will end on Saturday at the company's headquarters near Bologna.
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