Auto Industry, Profit | featured news

German carmaker BMW says 2012 was the best year in its history after it posted a rise in profits and record revenues.

General Motors Co on Wednesday posted a far stronger-than-expected profit and said it was targeting a return to break-even levels in its money-losing European operations by mid-decade after a loss of as much as $1.8 billion in that region this year.

Chrysler reported its second-quarter profit soared as its predominately North American operations shielded it from the European economic slowdown on plaguing its U.S. competitors.

General Motors says it made $2 billion in the third quarter, a strong showing that helps the company's pitch to investors who may buy stock in an initial public offering.

One-time restructuring gains gave Ford a quarterly profit of $2.3 billion, despite a loss at its automotive operations.