GM's net income and operating profit fell sharply in the first quarter due to planned downtime of full-size pickup output, a restructuring in Korea and other costs. GM's earnings before interest and taxes declined 27 percent.
Fiat Chrysler said its first-quarter adjusted earnings rose 5 percent to $1.96 billion as the automaker cut debt by $1.6 billion. Earnings before interest and taxes in the NAFTA market fell 2 percent.
China is mulling proposals to cut import duties on passenger cars by about half, Bloomberg reported, citing people with direct knowledge of the matter, a move that's set to give a lift to luxury brands such as BMW and Lexus.