DAILY: GM to phase out salaried pensions, shift workers to 401(k) plan | Lexus reclaims U.S. dependability title | Penske earnings rise 67% in Q4 as sales grow

DAILY NEWSLETTER February 15, 2012

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GM to phase out salaried pensions, shift workers to 401(k) plan Salaried employees awarded more vacation DETROIT -- General Motors said today it will phase out its pension plan for salaried workers as a way to reduce the risk to its balance sheet. About 70 percent of GM's 26,000 salaried U.S. workers are enrolled in a defined-benefit, or traditional, ... >> story  Published: Feb 15 1:35 pm U.S. Eastern time / Last changed: 2/15/12 4:24 p.m. ET Advertisement The Most Trusted Brand in Automotive Live Chat Trust means believing we always have your best interests in mind. As the most trusted brand in automotive live chat, ActivEngage wants you to know the questions that every live chat vendor should be able to answer before you buy. Download your complimentary Live Chat Buyers' Guide Today Lexus reclaims U.S. dependability title as industry builds better vehicles DETROIT -- Lexus reclaimed its title as the most-dependable brand in the United States as the industry continued to build better vehicles. Lexus owners reported the fewest problems of any brand after three years -- 86 per 100, >> story  Published: Feb 15 10:00 am U.S. Eastern time / Last changed: 2/15/12 3:30 pm ET Penske earnings rise 67% in Q4 as sales grow DETROIT (Reuters) -- Penske Automotive Group, the second-biggest U.S.-based auto dealership group, today posted a 67 percent gain in fourth-quarter net income on an 11 percent sales rise. The company, >> story  Published: Feb 15 9:15 am U.S. Eastern time / Last changed: 2/15/12 4:14 pm ET Follow Automotive News

... Auto retailers drop across the board as markets fall on Greece woes … GM slides on eve of Q4 earnings report … BorgWarner nears 52-week high ... Price Daily change 52-week high / low General Motors 24.93 -1.85% 36.84 / 19.00 Ford 12.38 -0.80% 16.18 / 9.05 Top Performers Price Daily change 52-week high / low Denso* 16.05 +4.33% 19.04 / 12.86 Toyota* 82.56 +3.20% 93.90 / 60.37 Tower International 13.76 +3.07% 18.33 / 9.45 Honda* 36.59 +1.98% 44.56 / 27.52 BorgWarner 80.58 +1.47% 82.28 / 54.59 Bottom Performers Price Daily change 52-week high / low Sonic 16.79 -6.31% 18.00 / 10.11 Lithia 24.75 -5.82% 26.96 / 13.28 Penske 23.58 -4.80% 24.78 / 14.87 Asbury 25.42 -4.08% 27.20 / 14.96 » Check the latest automotive stock listings

Subscribe to Automotive News today! You are receiving the free registrant version of our newsletter. If you would like a more comprehensive version, purchase a subscription to Automotive News. If you are already a subscriber, please contact subs@crain.com to get the full version of our newsletter.  MORE HEADLINES Opel losses hurt GM's U.S. profit, upset investors   Ford F-150 pickup clone to be unveiled by China's JAC   KBB taps AutoTrader exec as new president     Hans Greimel is Asia editor for Automotive News. Nissan enters stock car racing in Australia, what about here? Nissan is off to the stock car races. In Australia, at least. Could Nissan be pondering a similar racing debut in NASCAR to boost brand recognition in the United States? ...  Read the blog  Published: Feb 15 3:07 pm U.S. Eastern time More plug-in hybrid makers are pushing 'the button' RICK KRANZ: As automakers introduce plug-in hybrids, each is trying to outdo the others. Rivals battle over combined fuel economy, electric range, acceleration and recharging time. Now it's “the button.” ...  Read the blog  Published: Feb 15 2:42 pm U.S. Eastern time Jim Henry is a special correspondent for Automotive News Clock is ticking on Chrysler's finance deal with Ally It's no wonder talk is heating up about the possibility that the Chrysler Group may be shopping for a new partner to handle its captive finance functions: The clock is ticking. ...  Read the blog  Published: Feb 15 12:01 am U.S. Eastern time

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