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It reported a record profit margin, but BMW still wasn't as profitable as its rival Audi. According to a report in Automotive News, BMW booked an 11.8-percent profit margin, up from eight percent last year. Audi, however, managed 12.1 percent.

Fisker Karma - Click above for high-res image gallery

Three weeks into his new assignment as president and chief operating officer of Toyota North America, Yoshimi Inaba came to Detroit to talk about the state of the business. This is Inaba-san's third stint working for Toyota in North America after returning to Japan in 2003. This spring the senior management in Japan asked Inaba-san to return to North America and help turn the suddenly ailing giant around.

Over the next two years, Ford will have a whole lineup of new smaller cars coming the US market including the Fiesta and global Focus. At a Ford media event today, marketing VP Jim Farley talked to reporters about the plans for those cars. Traditionally, carmakers have had a hard time making money on small cars in the US because customers have expected prices in proportion to size. That perception is now changing as customers are moving down from trucks and SUVs to cars, particularly smaller car

GM currently owns about 13% of the small car market. With demand for small vehicles increasing with the price of black gold, GM is out to increase that market share. Nevertheless, even if it doesn't increase its share, it plans to make more money off of each small car sold. How? By raising the price, naturally.

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