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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.

Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Callaway to give 2014 Chevrolet Silverado and GMC Sierra a boost

Callaway has just announced the debut of supercharged versions of the 2014 Chevrolet Silverado and GMC Sierra pickup trucks. This news comes only weeks after Callaway made known their intentions to fit market a version of the Silverado with an Eaton TVS supercharger. The Connecticut-based tuner has developed a new supercharger manifold and some other hardware for the new Chevrolet L83 Ecotec engine, which is expected to produce around 455 hp (though these are preliminary figures).