Europe, Automaker | 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.

German carmaker Volkswagen AG says sales rose 11.9 percent in July as demand in Asia and the United States outweighed slacker sales in crisis-hit western 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.

General Motors confirms that it plans to cut 10,000 jobs across European car unit Opel, including Vauxhall.