Chrysler LLC,  the automaker that began as Chrysler Corporation in 1925, a year after its first car was introduced, will close about 25 percent of its dealerships, according to the plan the manufacturer has filed in bankruptcy court. The consolidation will result in the demise of 789 dealerships.

General Motors Corporation posted a $6 billion first quarter loss and spend $10.2 billion in cash in the first three months of 2009, resulting in the automaker's  revenue plummeting $20 billion. Ray Young,  the carmaker's CFO, said talk of the company going into Chapter 11 bankruptcy protection likely dissuaded consumers from buying GM vehicles.

Ferrari fans can now add London to the exclusive list of world renowned cities featuring the automaker's Prancing Horse paraphernalia. The first British store selling Ferrari products recently opened in London, an occasion highlighted by ribbon-cutting ceremony by Formula One driver Kimi Räikkönen. Set in two stories of a columned, stone building in the heart of London, the 5,705-square-foot store will have all the usual Ferrari goods, including spaces devoted to car and F1 products, such as clothing and model cars.

Chrysler LLC will file for chapter 11 bankruptcy after the storied automaker failed to convince its lenders to agree to a debt-reduction plan. President Barack Obama said the restructuring of Chrysler LLC will go forward even though a handful of hedge funds have refused to accept the Treasury Department's offer to cut the automaker's debt.

Honda has reported a $2.91 billion loss for the first quarter of 2009, marking the Japanese automobile manufacturer's first quarterly loss in 15 years. The loss is further significant considering Honda posted a $1.75 billion profit in the first quarter of 2008. While adverse exchange rates hurt the company’s operating income, the loss was primarily the result of a global sales drop, most of which occurred in North America.

If Tata Motors had the ability to swiftly build the 1 million reservations the Indian automaker has for the Nano, it would easily be the world's largest-selling car in 2009. And it would also quickly advance on the all-time, best-selling cars list. As the following lists detail, the best-selling vehicle in history is the Toyota Corolla, with more than 32 million units sold. The 50th best-selling car in history is the Peugeot 405 with 3.5 million units sold. The best-selling vehicle in 2008 was the Ford F-Series truck with 515,513 sold. It's also the second best-selling vehicle of all-time.

Tata Motors Ltd., the largest manufacturer of trucks in India and innovator of the soon-to-be available Tata Nano, is set announce the number of reservations it has received the world's cheapest car. According to newspaper reports, the Tata may have received as many as one million orders for the estimated $2,000 vehicle. The official announcement is expected April 28.

As expected, General Motors has announced plans to discontinue Pontiac. But the automaker's news came with two other industry jolts. Forty of the dealer network will also be slashed and GM will cut 23,000 jobs by 2011. The changes are the latest attempt to keep GM out of bankruptcy. But the CEO Fritz Henderson said bankruptcy is still imminent unless bondholders agree to an accompanying exchange of stock and money.

General Motors is expected to soon announce Pontiac, once touted as GM's "Excitement division," will soon cease. According to CNN.com, the dismantling of Pontiac reflects GM's most recent “viability plan.” Pontiac, introduced in 1926, wasn't listed as a core brand with the automaker's leading brands, Chevrolet, Buick, GMC and Cadillac. Saturn, Saab and Hummer are expected to be sold or “killed off.” But Pontiac was expected to remain as a “niche brand” with a focus on selected models.

The London Daily Telegraph has engaged readers of its automotive print and online section for nearly a year with a great marketing idea. It has asked readers to select the top 100 most beautiful and top 100 ugliest cars in history. The top-100 list of best-looking cars included many of the expected candidates, Ferrari to Lamborghini. But it also had some unique choices, Karmann Ghia to Citroen. And the top car was a beauty — the E-type Jaguar XKE. The uglies cars are an equally diverse group, Range Rover to the Pontiac Aztek.