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Ford earns $2.6 billion in first quarter

Ford, helped by new models, rising U.S. sales, and a rebound in Europe, reported a first-quarter profit of $2.6 billion today. In the first quarter of 2010, Ford earned just over $2 billion.

Fuel-economy standards rise to 27.3 mpg for 2011 model year

Fuel-economy standards for all light vehicles will rise 8 percent, to an average of 27.3 mpg for the 2011 model year, under new U.S. rules issued on Friday. The regulations will use a new system that sets standards for individual models based on their size.

Volkswagen to buy 42 percent of Porsche, full merger planned

Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.