General Motors is already feeling the backlash of its decision not to sell European automaker Opel to Magna International, as workers in Germany went on strike.  GM faces not just ire over American-European cultural differences, but worker unease at job security, European-style.

The old Chrysler was famous for its aggressive marketing and auto-show stunts, like running a cattle drive down the streets of Detroit to publicize a new pickup. But for its coming-out party on Wednesday, the new Chrysler stuck to a far more serious and subdued script, says the New York Times.

Toyota Motor reported a surprise quarterly profit and slashed its annual loss forecast by more than half as sales and cost cutting beat its forecasts, putting it on track to follow Japanese rivals into the black next year.

Keeping Opel is the best strategic option for General Motors given the improved economic conditions, but the automaker needs to appease German politicians' and trade unions anger over its about-face and adapt itself to German ways, European analysts said Wednesday.

Nissan Motor, Japan's third-biggest automaker, revised its annual outlook to a profit from a loss on Wednesday as soaring sales in China helped drive quarterly earnings beyond the market's expectations.

Honda Motor aims to improve its cost structure to be able to break even in Japan using just 70 percent of its capacity to build cars, a top official at Japan's second-biggest automaker said on Wednesday.

Bitterness, anger and disbelief mixed with betrayal and even resignation are just some of the emotions boiling within Germany following Tuesday's shocking news that General Motors will scrap its sale of Opel.

Toyota Motor said on Wednesday it was pulling out of Formula One racing.

General Motors posted its first monthly sales increase in nearly two years as a rebound in industrywide U.S. auto sales in October pointed toward a gradual recovery for the battered sector. 

General Motors reversed course by abandoning a long-expected sale of its Opel to a group led by Canadian auto supplier Magna and opting to keep the European unit after a year of uncertainty and high-stakes political negotiations. 

General Motors reported an increase in auto sales last month while rival Ford Motor saw sales decline, as market watchers look for an industry-wide increase from September's levels, which were hurt by a Cash for Clunkers hangover.

Opel's labor force has agreed to contribute 265 million euros ($390 million) in annual savings if General Motors finally sells a majority stake in its European arm to a group led by Canada's Magna.

Germany's BMW gave a tepid markets outlook and predicted the euro would stay strong after third-quarter earnings before interest and tax (EBIT) shrank 86 percent amid a global economic slump.

Owning a classic car is often a childhood dream and in May this year the highest price ever was reached at an auction for a classic car: 9 million euros ($12.2 million) for a 1957 Ferrari Testa Rossa.

Ford Motor will pay back in part and extend by two years $10.7 billion of secured debt and issue some $3 billion of stock and equity linked securities to improve its balance sheet.