Musk's pay as Tesla CEO drops 99.9% to less than $70,000

5:49 pm U.S. ET | April 24, 2014
Elon Musk, Tesla's CEO and one of the wealthiest U.S. entrepreneurs, saw his take home pay from the automaker plunge by more than 99.9 percent last year after a surge in his 2012 stock options.... Read More »

 

FTC officials: Ban on Tesla's direct sales 'bad policy'

11:36 am U.S. ET | April 24, 2014
In an unusual move, three top officials with the FTC on Thursday came out in opposition to laws that ban automakers like Tesla Motors from selling automobiles directly to consumers.... Read More »

 

GM says government probes into recalls now include SEC, a state attorney general

5:07 pm U.S. ET | April 24, 2014
GM is facing five different government probes in connection with its recent recalls, the automaker said in a regulatory filing on Thursday.... Read More »

 

APRIL U.S. SALES

U.S. sales on track to rise 9% in April, 2 forecasts show

3:44 pm U.S. ET | April 24, 2014
Auto sales are on pace to rise 9 percent in April from a year ago, as warmer weather coaxes out more shoppers who stayed home during the unusually harsh winter, according to two forecasts released today.... Read More »

 

Penske posts record continuing-operations income in Q1

7:33 am U.S. ET | April 24, 2014
Penske Automotive Group reported the highest quarterly income from continuing operations in the company's history.... Read More »

 

GM ekes out $125M first-quarter profit as recalls take toll

7:30 am U.S. ET | April 24, 2014
Surging transaction prices on trucks helped GM offset heavy costs from safety recalls and eke out a small profit in the first quarter. GM posted net income of $125 million in the first three months of the year, down 86 percent from a year earlier. The bottom line reflected $1.3 billion in recall-related expenses as well as about $200 million in restructuring costs in GM's European business.... Read More »

 

REACTION: The 'right call' to go for price over pickup share

8:03 am U.S. ET | April 24, 2014
A roundup of what analysts and others are saying about General Motors' first-quarter financial results.... Read More »

 

N.Y. regulators sue Condor Capital, accusing it of withholding refunds

3:22 pm U.S. ET | April 24, 2014
New York state regulators Wednesday sued Condor Capital Corp., a subprime auto lender in Hauppauge, N.Y., which they accused of withholding refunds that should have been paid to customers.... Read More »

 

GABE NELSON

Impala vs. Cobalt: Not all NHTSA probes are equal

12:01 am U.S. ET | April 24, 2014
The National Highway Traffic Safety Administration is investigating the 2014 Chevrolet Impala, based on a report about a single vehicle that got into a fender-bender when the automatic braking system engaged unexpectedly. The media responded with a narrative already scorched into their minds. They were only half right.... Read More »

 

AutoNews Now: How GM averted a loss

12:01 am U.S. ET | April 24, 2014
Truck-pricing 'discipline' aided company in tough Q1, Barra makes Time 100 most-influential list; FTC officials rap Tesla bans.... Read More »

 

Lithia reports record Q1 profit, 19% revenue increase

8:38 am U.S. ET | April 24, 2014
Lithia Motors reported record first-quarter income on increased customer-pay service work and an increase in vehicle sales.... Read More »

 

GM profit plunges on recall costs

April 24, 2014 06:01 CET
GM's first-quarter net income sank 86 percent from a year earlier to $125 million amid heavy costs related to the recall of 7 million vehicles. In Europe, GM lost $284 million, nearly double the $152 million it lost a year earlier.... Read More »

 

Group 1 Q1 profit rises 7%, revenue up 15%

10:21 am U.S. ET | April 24, 2014
Group 1 Automotive Inc. reported first-quarter net income of $31.3 million, a 7 percent improvement over the same quarter a year ago. The retailer's revenue rose 15 percent to $2.3 billion.... Read More »

 

Nissan tests a car that cleans itself

1:23 pm U.S. ET | April 24, 2014
Nissan is experimenting with a “self-cleaning” car that uses a new coating technology to help repel rain, oil and grime.... Read More »

 

Renault sales slip as strong Euro offsets delivery gains

April 24, 2014 18:12 CET
Renault reported a 0.1 percent decline in first-quarter revenue as the strong euro offset deliveries. Sales totaled 8.26 billion euros ($11.4 billion). Deliveries climbed 5 percent to 636,239 vehicles as demand rose for Dacia cars such as the Sandero hatchback.... Read More »

 

Delphi profits jump on higher N.A., Asia parts demand

9:21 am U.S. ET | April 24, 2014
Delphi Automotive reported a 16 percent rise in first-quarter profits, helped by strong parts demand in Asia and North America, and raised its 2014 earnings outlook.... Read More »

 

First Shift: GM net profit falls 86%

12:01 am U.S. ET | April 24, 2014
Recall costs leave only $125 million on bottom line; Hyundai, Mitsu earnings; Asbury used-car plan; hybrids a boomer buy?... Read More »

 

Valeo sales increase 6% as Europe rebounds

April 24, 2014 11:23 CET
Valeo reported a 6 percent increase in first-quarter sales on higher demand in China and North America and the end of a six-year contraction in Europe.... Read More »

 

Hyundai Q1 profit hit by slow U.S. sales

April 24, 2014 11:00 CET
Hyundai posted a first-quarter net profit that was almost identical to a year earlier, as increased sales in China and Korea helped offset weak U.S. demand.... Read More »

 

UK car production returns to growth, boosted by increased European demand

April 24, 2014 08:40 CET
British car production returned to growth in March, boosted by increased demand in Europe and by automakers completing retooling to build new models. Output increased 12 percent last month.... Read More »

 

Renault freezes plans for Russian van production on weak ruble

April 24, 2014 13:35 CET
Renault has frozen plans to build vans with Russian truckmaker ZIL due to a weakening of the ruble. The company had planned to build Renault and Fiat vans with ZIL in Moscow.... Read More »

 

Mitsubishi posts record annual operating profit

7:17 am U.S. ET | April 24, 2014
Mitsubishi Motors nearly doubled its operating profit for the year ended March to an all-time high of 123.4 billion yen ($1.2 billion) as a drop in Thai sales was offset by growing sales in most other regions around the world.... Read More »

 

VW's Scania bid backed by big investor at Swedish truckmaker

April 24, 2014 12:36 CET
Volkswagen moved closer to sealing a 6.7 billion euro ($9.3 billion) deal for the rest of truckmaker Scania after a major shareholder, Swedbank Robur, said it would accept VW's offer for its shares.... Read More »

 

Sogefi posts loss on restructuring costs, currency woes

April 24, 2014 11:52 CET
Sogefi reported a net loss of 6.3 million euros for the first quarter after results were hit by restructuring charges and the negative effect of exchange rates.... Read More »

 

Johnson Controls profit rises 59% on increase in automotive business

April 24, 2014 06:01 CET
Johnson Controls, which counts on Europe for about half of its sales, reported a 59 percent jump in quarterly profit, helped by higher sales in its automotive unit.... Read More »

 

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