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General Motors board recommends selling Opel to Magna-led group

General Motors Co.'s board has decided to support selling a majority stake in Opel to a group led by Canadian auto parts giant Magna. The move caps weeks of high-stakes maneuvering on both sides of the Atlantic that saw nationalism, labor issues and--perhaps most critical to GM, the use of its technology--all come into play. Magna and Russian lender Sberbank will get a 55 percent interest in Opel, the linchpin of GM's European operations for 80 years, as well as its British sister brand Vauxhall.

Lamborghini set sales record despite decline in U.S.

Lamborghini sales in the United States fell in 2008, but the brand still had a record year worldwide, said president Stephan Winkelmann. "We balanced sales in the Middle East, China and Southeast Asia with the drop in the United States," he said. Lamborghini sold 741 cars in the United States in 2008, down 20.3 percent compared with 2007.

Ford posts record first-quarter profits

Ford Motor Co. said first-quarter net income increased 15 percent from a year earlier to $1.61 billion, as rising U.S. auto sales pushed North American profits to a record, offsetting deeper losses in Europe.