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Daimler is handing over the Chrysler keys. Private equity firm Cerberus will buy an 80.1% stake in the struggling automaker for $7.4 billion. The deal was applauded by European shareholders, but not everyone's convinced it'll pay off, Stephen Beard reports.

Toyota reported another year of record profits. But those profits weren't quite as much as everybody had expected. And the company says things are going to be even slower next year. Alisa Roth reports.

General Motors has made money for the second straight quarter, though the $62 million profit reported today is down sharply from last year's thanks to fallout from the subprime housing market. Ashley Milne-Tyte explains.

Ford reported today a better-than-expected first quarter loss of about $282 million. But Micheline Maynard at the New York Times says there's less to that than meets the eye.

Toyota bumped GM off its perch last quarter as the world's biggest car maker. And all signs are that Toyota's going to be number one for a while. Jeff Tyler reports.

It's been blamed for killing the electric EV1 back in the '90s, but now GM has turned out a prototype for the Volt — an electric car that runs on such advanced clean technology, it won't hit production until the end of the decade.

GM is streamlining production of its popular Astra model in Europe, and the 1,400 jobs cut are all coming out of Belgium. And if plants there don't bring costs down, GM indicated it may shift that production work to Asia.

American automakers have struggled to make headway in India's large and fast-growing market, but GM is making a renewed push for sales with the Chevrolet Spark.

A federal trial is underway involving car companies and Vermont over the state's regulation of CO2. Dan Esty, who teaches environmental law at Yale University, lays out the issues with Kai Ryssdal.

Twelve years after a previous attempt to acquire the automaker, billionaire Kirk Kerkorian has bid $4.5 billion for Chrysler. But if anyone's going to stand in his way, it could be the auto workers union.