Washington - The beleaguered General Motors Thursday said it is cutting more management jobs and stopping some employee benefits, including contributions to so-called 401K private employee savings plans, according to the Detroit News.

"The global credit crisis has had a dramatic impact upon the industry at large and new vehicle markets in North America and Western Europe have contracted severely," GM CEO Rick Wagoner and Chief Operating Officer Fritz Henderson were quoted as saying in a letter sent to executives.

Washington - Nissan Motor Co and partner Renault SA are eyeing a 20-per-cent stake in Chrysler, as General Motors also pursues takeover talks with the country's third-largest automaker.

Nissan-Renault has long been reported to be interested in a deal. On Wednesday, the Detroit News cited people familiar with the matter, as saying the proposal has been submitted to Cerberus Capital Management LP, the current majority owner of Chrysler.

Germany's Daimler still owns 20 per cent of its one-time subsidiary.

Under the Nissan-Renault deal, Nissan would likely provide the financing as Renault is weighed down by 5 billion dollars in debts.

Dearborn, U. S. - Ford has revealed small details of the 2010 model Ford Mustang that it is planning to unveil at the Los Angeles Motor Show next month.

Teaser images released by Ford reveal exterior modifications to the front, rear flank and wheels. The dashboard gets a new instrument cluster with revised gauges, as well as new vents and glove box. The famous badge, depicting a pony, has also been redesigned with a more dynamic and edgy appearance.

Previous spy shots revealed a deeper grille than the previous model, new headlights and a lowered bumper with Ford retaining the basic unmistakeable rectangular Mustang shape that has been a hallmark since it was first launched in 1964.