Europe, Auto Industry | featured news

Fiat SpA, the Italian automaker that controls Chrysler LLC, saw fourth quarter earnings more than double thanks to strong North American sales that more than compensated for a weak performance in Europe.

French automaker PSA Peugeot Citroen announced 8,000 job cuts and the closure of an assembly plant as it struggles with mounting losses, in a move that could hasten a wave of restructuring in western Europe.

Welcome to an unlikely beacon of hope for the global auto industry -- Detroit. Executives arriving this week for the Detroit auto show find a U.S. car market that has morphed from meltdown three years ago to a safe haven as concerns grow about the stability of other big economies, from Europe to China.

Across Eastern Europe, Russia, Kazakhstan and the Gobi Desert - it certainly was a long way to go without getting lost... The vehicles, equipped with four solar-powered laser scanners and seven video cameras that work together to detect and avoid obstacles, are part of an experiment aimed at improving road safety and advancing automotive technology.

Industry officials may be quick to talk up the newest in electric transportation. They’ll also admit it’s not going to be easy abandoning the time-tested internal combustion engine.

The Italian carmaker that just took over Chrysler is in talks to buy GM's European operations.