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GM posts $7.6 billion profit for 2011

General Motors on Thursday posted a $7.6 billion profit for 2011, while recording its smallest quarterly profit of the year in the fourth quarter. Net income for the October-through-December period fell 7 percent from the year-earlier period to $472 million, as a $562 million loss in Europe--the steepest of the year there--weighed on the automaker's bottom line. North American earnings nearly doubled.

Peugeot 2008: First photos arrive

The first photos of the Peugeot 2008 – an SUV / Crossover version of the new 208 – have arrived ahead of an official reveal next week. Peugeot’s new offering in the compact SUV sector is the Peugeot 2008 – a compact crossover version of the new 208 – which we saw first at the Beijing Motor Show last year as the Peugeot Urban Crossover Concept and now, ahead of an official reveal next week, we have the first official photos of the new 2008. So far, we have no real detail on what’s under the bonnet, but visually the production version of the 2008 seems little changed from the concept – which means a decent-looking offering for a competitive market place.

VW take control at Italdesign Giugiaro through Lamborghini.

Maserati Merak - by Giugiaro Perhaps it makes sense politically for an Italian company to takeover another, but the outcome is the same – VW has taken a majority stake in Italdesign Giugiaro – 90.1% – through its Italian subsidiary Lamborghini Holdings S.p.A. Just as we expected. And there’s a lot of sense in this move by VW – even if they are going back on their stated intent to end the acquisitions – as there’s a strong history with Giugiaro.