Ford posted fourth-quarter net income of $1.6 billion, carrying the company to its fourth straight full-year profit. Excluding a large year-earlier extraordinary gain, net in the latest quarter rose 55 percent, powered by strong results in North America.
New-vehicle shoppers are considering more models before buying, and fuel economy remains the most influential factor in a purchase decision, according to a J.D. Power and Associates study. New-vehicle shoppers consider an average of 3.3 vehicles, J.D.
Ford posted a fourth-quarter pretax loss of $732 million in Europe and expects 2013 to be even more difficult. Despite the troubles in Europe, the U.S. automaker had a fourth-quarter net income of $1.6 billion.
Publicly traded auto retailer Penske Automotive Group today announced that its board approved a cash dividend of 14 cents per share for the fourth quarter of 2012 -- a boost of 7.7 percent over the previous dividend.
GS Yuasa, the supplier of lithium ion batteries used in the Boeing 787 Dreamliner as well as in electric and hybrid vehicles made by Honda and Mitsubishi, has been cleared of responsibility for the fires that have plagued batteries in the airplane.
The convertible version of the redesigned 2014 Chevrolet Corvette Stingray will make its world debut at the Geneva motor show in early March, according to Autoweek. Also, the Stingray convertible will go on sale as a 2014 model and could be in dealer showrooms by the end of this year.
Gentex, the supplier of automotive rearview mirrors and related parts, today reported a 2 percent decline in quarterly profits and a 2 percent gain in annual profits. The company said it posted net income of $39.6 million in the fourth quarter, down from $40.
Mazda's North American CEO Jim O'Sullivan expects the automaker to outpace U.S. industry growth in 2013 after two years of lagging behind. In this video, O'Sullivan explains how stability in Washington, D.C., could positively impact the industry, and which vehicles will drive Mazda's sales.
Fiat is said to plan the introduction of the first Alfa Romeo SUV in an effort to help transform the brand into a global luxury marque to challenge Audi and meet a target of tripling sales by 2016 to 300,000.
Dongfeng Peugeot Citroen, a 50-50 joint venture between PSA and Dongfeng in China, expects to increase sales 14 percent this year to 500,000 units as the company's third assembly plant launches production.
PSA will continue negotiating job cuts with unions despite a court ruling that ordered a temporary suspension of restructuring until the group completes worker consultations at two sites belonging to parts division Faurecia.
TPCA, the Czech car assembly plant jointly owned by Toyota and PSA said production fell by a fifth to 215,000 vehicles in 2012 due to weak European demand. The plant, which employs 3,000 workers, makes the Toyota Aygo, Peugeot 107 and Citroen C1 minicars.