GM to phase out salaried pensions, shift workers to 401(k) plan GM said it will phase out its pension plan for salaried workers as a way to reduce the risk to its balance sheet. About 70 percent of GM's 26,000 salaried U.S. workers are enrolled in a defined-benefit, or traditional, pension plan.

Lexus reclaims U.S. dependability title as industry builds better vehicles Lexus reclaimed its title as the most-dependable brand in the United States as the industry continued to build better vehicles. Lexus owners reported the fewest problems of any brand after three years -- 86 per 100, according to J.D.

Penske earnings rise 67% in Q4 as sales grow Penske Automotive Group today said it posted a 67 percent gain in fourth-quarter net income on an 11 percent sales rise.

Ford F-150 pickup clone to be unveiled by China's JAC China's Jianghuai Automobile plans to unveil a pickup at the Beijing auto show in April that adopts many of the exterior design details of the Ford F-150, The Detroit News reports.

Opel losses hurt GM's U.S. profit, upset investors GM CEO Dan Akerson, having decided to keep the company's German Opel unit, will come under greater pressure to cut production and employees in Europe as losses continue to pile up.

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