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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.

Kia announces new concept to debut in Frankfurt

Kia will unveil a new B-segment concept at next month's Frankfurt motor show, following from the similarly sized recent Provo and CUB concepts. The unnamed concept, previewed in two renders, is said to feature a mix of contrasting materials inside the compact car and has been designed in Europe to suit European tastes and expectations. The interior render shows a one-piece seat base for driver and passenger, pierced by a pair of braces that support the IP.

Chrysler recalls minivans for airbag fix

The Chrysler Group is recalling about 300,000 Chrysler Town & Country and Dodge Grand Caravan minivans to fix airbags that might deploy without warning. The recall covers vans built for the 2008 model year. Chrysler says water could leak into the airbag controller from a faulty drain grommet in the ventilation system.