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Italian automaker Fiat announced today it will pay $1.3 billion to for an additional 16 percent stake in U.S. automaker Chrysler. Fiat hopes to own a majority of the company by the end of the year.

General Motors continues to target China as its newest growth market. GM will debut the new Chevrolet Malibu at the Shanghai Auto Show this week, and will introduce 60 new and upgraded models there over the next five years.

The auto industry has staved off production stoppages thanks in part to lengthy shipping times for Japanese parts. But now, the shipments that left Japan before the tsunami have all been unloaded, and automakers face potential shutdowns.

Gasoline sales have been down for the past five weeks. One reason may be consumers buying and driving more fuel-efficient vehicles since the last gas price hike in 2008.

The BBC's Rachel Harvey reports from Tokyo on a return to production for Toyota and Nissan, following factory shutdowns after the tsunami and earthquake in Japan.

The earthquake and tsunami in Japan put the breaks on car production because of a parts shortage. Now, Toyota and Nissan have announced they will resume production in the coming weeks.

Beyond car production curbs, Toyota tells American dealers limit orders of replacement parts, potentially lengthening repair times for existing cars.

The earthquake and tsunami forced Japan to shutter many of its car parts factories, causing a widening gap in the global supply chain. Some U.S. auto manufacturers may face factory shutdowns because of the slow down.