Automakers and Suppliers

BorgWarner Q2 earnings fall 21%

10:29 am U.S. ET | July 30, 2015

Auto supplier BorgWarner said its second-quarter earnings and revenue were hurt by the stronger U.S. dollar and lower-than-expected sales in China and other parts of the world.... Read More »

Mazda's quarterly profit falls 5.4% despite strong China, U.S. sales

4:53 am U.S. ET | July 30, 2015

Mazda said quarterly profit fell 5.4 percent despite higher auto sales in China and the U.S. that helped cushion the blow of foreign exchange losses and costs booked for new plants in Mexico and Thailand.... Read More »

Fiat Chrysler lifts guidance after strong second quarter

July 30, 2015 14:51 CET

Fiat Chrysler Automobiles raised its full-year profit guidance after better-than-expected second-quarter results on a strong performance in North America and record Jeep sales.... Read More »

FCA's Q2 profit rises 69% on strong NAFTA sales

9:02 am U.S. ET | July 30, 2015

Fiat Chrysler Automobiles said its second-quarter net income rose 69 percent to 333 million euros ($364 million) on a strong performance in North America and record global Jeep sales.... Read More »

France prepares to sell 5% stake in Renault

July 30, 2015 13:41 CET

France is preparing to sell the 5 percent Renault stake it acquired earlier this year to secure a doubling of voting rights for longer-term investors, Economy Minister Emmanuel Macron said.... Read More »

Audi cuts global car sales outlook on China

July 30, 2015 11:57 CET

Audi lowered its global sales forecast for this year because of slumping demand in China, its biggest market. The automaker expects global deliveries to increase between 3 percent and 4 percent from a record 1.74 million sales in 2014.... Read More »

French minister sees smoother return to Iran for Renault than PSA

July 30, 2015 12:47 CET

PSA/Peugeot-Citroen, previously the market leader in Iran, could find it more difficult to return to the country than rival Renault following a dispute over the carmaker's 2011 market exit, Laurent Fabius, France's foreign minister, said after talks with Iranian leaders.... Read More »

Italy's long-term car rental sector probed by competition authority

July 30, 2015 11:05 CET

The Italian Competition Authority has launched an investigation into possible breaches of competition rules by eight long-term car rental companies.... Read More »

Delphi will buy UK cabling company to boost connectivity business

July 30, 2015 11:29 CET

Delphi will buy the UK cabling company HellermannTyton Group to capitalize on growing demand for cars that connect to the Internet, mobile phones and other devices.... Read More »

Renault profit surge fails to impress amid pricing slide

July 30, 2015 08:03 CET

Renault's first-half profit surged on rebounding European demand but not enough to meet investor expectations from the recovery, or concerns about weaker pricing.... Read More »

New test shows disparities in Ford F-150 crash protection

6:00 pm U.S. ET | July 29, 2015

After a follow-up test, the Insurance Institute for Highway Safety said Ford "shortchanges" some buyers of its redesigned 2015 F-150 pickups by equipping certain models with protective steel bars while leaving them off others. In response, Ford said it will add "countermeasures" to improve crash-test performance.... Read More »

U.S. House committee approves limit on CFPB's oversight of auto lending

5:15 pm U.S. ET | July 29, 2015

The U.S. House Financial Services Committee approved a bill Wednesday that would significantly limit the Consumer Financial Protection Bureau's guidance over auto lending.... Read More »

Penske Automotive Q2 earnings rise 29.5%

9:06 am U.S. ET | July 29, 2015

Penske Automotive Group reported second-quarter net income rose 29 percent driven largely by a higher volume of vehicle sales and a solid performance in all business segments.... Read More »

VW says China sales may decline this year

July 29, 2015 17:19 CET

Volkswagen said its vehicle sales may decline in China this year after years of double-digit volume gains in its largest market.... Read More »

GM ignition-switch spin battle reignites with plaintiffs' lawyer

6:28 am U.S. ET | July 29, 2015

General Motors may face a renewed media campaign over what a key opponent called its “false narrative” about recalls of cars with defective ignition switches. GM lost a bid to stop lawyers from circulating information about the recalls, obtained ahead of a January trial.... Read More »

Average age of U.S. fleet hits record 11.5 years, IHS says

7:00 am U.S. ET | July 29, 2015

The average age of light vehicles on the road in the U.S. reached a new all-time high of 11.5 years at the end of 2014, while the total light vehicles in operation hit a record 257.9 million, up 2.1 percent from 2013, IHS Automotive said today.... Read More »

VW rolls out crash avoidance with '16 lineup

6:00 pm U.S. ET | July 29, 2015

Volkswagen, catching up to its luxury siblings, will offer sensor-based safety features across nearly its entire U.S. lineup for model year 2016.... Read More »

Fiat Chrysler sued in Canada following recent recalls

6:45 pm U.S. ET | July 29, 2015

A Canadian law firm said it filed a lawsuit against Fiat Chrysler Automobiles on Wednesday seeking $4 billion in damages, in connection with the massive recall announced by the automaker earlier in July.... Read More »

Tesla offers $1,000 referral incentive on Model S

4:09 pm U.S. ET | July 29, 2015

Tesla, testing the power of viral marketing to sell its EVs, will offer a word-of-mouth discount on the Model S through the end of October, with both referrer and buyer receiving $1,000.... Read More »

CDK sees 25 percent profit growth in 2016

3:37 pm U.S. ET | July 29, 2015

CDK Global CEO Steve Anenen predicted that earnings at the dealership software giant would jump in its 2016 fiscal year. On the strength of cost-cutting and better bundling of software products, CDK Global expects adjusted earnings to rise at least 25 percent in 2016 on revenue growth of 4 to 5 percent, Anenen told analysts during a year-end earnings call today.... Read More »

GM to invest $1 billion in India, plans to double market share by 2020

6:59 am U.S. ET | July 29, 2015

General Motors plans to invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said today.... Read More »

Mini issues recall for side impact protection

11:45 am U.S. ET | July 29, 2015

Mini is recalling 30,456 Cooper and Cooper S cars in the U.S. to address poor side impact protection.... Read More »

TrueCar, Sonic settle trademark lawsuit

3:00 pm U.S. ET | July 29, 2015

TrueCar and Sonic Automotive reached a settlement in TrueCar's lawsuit against the dealership group over trademark infringement. As part of the deal, Sonic agreed to transfer to TrueCar all rights to and use of its True Price, True View and all other True-related marks. Sonic also will lift a ban on using TrueCar at its dealerships.... Read More »

Dealer satisfaction grows when auto lenders embrace e-contracting

12:00 pm U.S. ET | July 29, 2015

Dealers like e-contracting. That's one of the key findings from the 2015 U.S. Dealer Financing Satisfaction Study by J.D. Power released this week. Another takeaway: Dealers are willing to pay lenders a premium for good service.... Read More »

Public retailers boost F&I profits in Q2

12:30 pm U.S. ET | July 29, 2015

F&I profits increased at all six of the largest public new-car retailers in the second quarter. The nation's largest retailer, AutoNation, led the way with F&I revenue per new vehicle retailed of $1,528 on a same-store basis.... Read More »

 
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