Executives

GM profit weathers China slowdown

12:01 am U.S. ET | July 27, 2015

General Motors' second-quarter results offered a sigh of relief - at least temporarily - to investors and other market watchers worried about slowing growth in China.... Read More »

The Big 3

12:01 am U.S. ET | July 27, 2015

Auto industry titan and racing mogul Roger Penske, right, was inducted into the Automotive Hall of Fame last week, along with longtime Ferrari boss Luca di Montezemolo, left, and Ratan Tata, chairman emeritus of India's Tata Sons Ltd.... Read More »

Mercedes revamps supply chain to trim costs

12:01 am U.S. ET | July 27, 2015

Mercedes-Benz aims to reduce its logistics costs by about 20 percent per vehicle as the company invests hundreds of millions of euros in a global reorganization of its supply chain network. The automaker has increased production outside of its German home over the past decade but many of the components used in its cars are still sourced from Europe.... Read More »

Fiat Chrysler hit with record $105 million U.S. penalty over recalls

4:30 am U.S. ET | July 26, 2015

Fiat Chrysler agreed to pay a $70 million fine, accept three years of additional oversight by an independent monitor and buy back more than 500,000 vehicles as part of a sweeping consent agreement to settle a U.S. government probe into 23 recalls since 2009. The overall potential civil penalty of $105 million marks the largest imposed by NHTSA.... Read More »

Barra pressed for cost cuts, other moves to help GM hit China target

6:29 am U.S. ET | July 24, 2015

GM Chief Executive Mary Barra has been pushing executives in China since the first signs of trouble in the market early this year to find ways to hit the company's target of delivering 9 to 10 percent profit margins, despite falling car prices and weak economic growth.... Read More »

JCI plans spin-off of auto seating, interiors units

9:30 am U.S. ET | July 24, 2015

Johnson Controls plans to spin off its automotive seating and interiors businesses, which will operate as an independent, publicly traded company. Bruce McDonald, currently JCI's vice chairman and executive vice president, will become chairman and CEO of the new company.... Read More »

Ferrari stock faces soaring Testarossa prices for investor favor

6:19 am U.S. ET | July 24, 2015

Ferrari's upcoming stock listing may struggle for investor attention with competitors in its own ranks. Buying one of the Italian supercars, like a Testarossa, has generated gains that are hard to beat.... Read More »

Opel names engineer to oversee quality

July 24, 2015 06:01 CET

Opel named mechanical engineer Elvira Toelkes as its new head of quality in Europe. Toelkes will be tasked with continuing Opel's drive to improve customer satisfaction. Opel and sister brand Vauxhall had below average scores in J.D. Power's vehicle satisfaction surveys.... Read More »

Lamborghini shelves plug-in Asterion coupe in favor of Urus SUV, report says

July 24, 2015 12:03 CET

Lamborghini has put on hold a production plug-in hybrid Asterion coupe in favor of bringing the Urus SUV to market in 2018, a magazine reported, citing the automaker's CEO Stephan Winkelmann.... Read More »

TrueCar calls second quarter a 'wake-up call'; shares plunge

9:20 pm U.S. ET | July 23, 2015

TrueCar's CEO warned the online car-shopping company will miss its previous guidance on second-quarter earnings, calling the shortfall a “wake-up call to focus on the business.”... Read More »

GM shrugs off China worries with $1.1B Q2 profit

7:45 am U.S. ET | July 23, 2015

GM's strong second-quarter results in China seemed to allay investors' concerns that a slowdown in Chinese demand would dent the company's bottom line. The automaker posted net income of $1.1 billion last quarter, fueled by strong demand for pickups and SUVs, and higher pretax profit and margins in China.... Read More »

NICK BUNKLEY

BLOG: The UAW (and Trump) cry foul as Ford runs for border

2:52 pm U.S. ET | July 23, 2015

As GM and Ford run for the border, investing billions of dollars and creating thousands of jobs in Mexican plants, UAW leaders fume and gain an unlikely ally.... Read More »

Ferrari files for IPO to raise funds for Fiat Chrysler

8:49 am U.S. ET | July 23, 2015

Fiat Chrysler Automobiles NV's plan to raise money by spinning off Ferrari took a step forward with the automaker filing for the unit's initial public offering on the New York Stock Exchange.... Read More »

Zetsche says hacking concerns drive Mercedes bid for Nokia maps unit

July 23, 2015 12:17 CET

Daimler CEO Dieter Zetsche said a desire to have better control over data security is one of the reasons Mercedes is part of a German car-making consortium bidding for Nokia's high-definition mapping business.... Read More »

Audi will replace its China chief amid sales decline

July 22, 2015 13:27 CET

Audi will replace the head of its Chinese operations, Dietmar Voggenreiter, as the carmaker grapples with an accelerating sales decline in its No. 1 market.... Read More »

HANNAH LUTZ

BLOG: How Honda Finance’s settlement could be a win for all retailers

11:30 am U.S. ET | July 22, 2015

At face value, the consent order between Honda Finance and the CFPB over lending practices doesn’t seem like a gift to retailers industrywide, but it could be.... Read More »

AutoNation's Q2 net rises 15%; revenue up 9%

8:00 am U.S. ET | July 22, 2015

AutoNation's net income rose 15 percent in the second quarter from the year-earlier period to $115.1 million. Revenue rose 9 percent to $5.22 billion, boosted by higher sales of premium luxury, domestic and import brands, and higher results in new vehicles, used vehicles, parts and service, and finance and insurance operations.... Read More »

Bugatti names former Bentley, Ferrari exec as marketing boss

July 21, 2015 06:01 CET

Bugatti named Oliver Winkes as its new marketing chief. The VW Group veteran who started his career with Ferrari will be responsible for the supercar marque's marketing activities.... Read More »

VW will set up new truck business headquarters

July 21, 2015 12:14 CET

Volkswagen plans to set up its new truck business near its headquarters in Wolfsburg, Germany. The carmaker aims to build a heavy goods vehicle operation capable of taking on rivals Daimler and Volvo.... Read More »

AutoNation CEO endorses CFPB, Honda Finance pact

12:01 am U.S. ET | July 20, 2015

AutoNation CEO Mike Jackson has endorsed the settlement between the Consumer Financial Protection Bureau and American Honda Finance for preventing discrimination in auto finance, calling the agreement a “workable template” that other retailers and lenders should follow.... Read More »

Betts, ex-Chrysler quality chief, joins Apple

9:43 pm U.S. ET | July 20, 2015

Doug Betts, the former head of global quality at Fiat Chrysler Automobiles and an expert in auto manufacturing, has joined Apple, according to the auto industry veteran's LinkedIn profile.... Read More »

GM ignition switch review approves 3 more injuries

12:00 pm U.S. ET | July 20, 2015

Three more minor injuries have been linked to General Motors' defective ignition switches, the office of attorney Kenneth Feinberg said.... Read More »

FCA consent order would be ‘a strong outcome,’ NHTSA chief says

4:15 pm U.S. ET | July 20, 2015

NHTSA chief Mark Rosekind says the agency is talking with Fiat Chrysler about a settlement to a dispute over the automaker’s handling of recalls, but hasn’t yet reached an agreement.... Read More »

Tesla Model S gets 'Ludicrous'

12:01 am U.S. ET | July 20, 2015

The electric-vehicle maker, channeling one of the more absurd moments of the Mel Brooks comedy Spaceballs, announced a $10,000 option on its newest Model S variant that runs from 0 to 60 mph in a face-stretching 2.8 seconds -- a feature Tesla calls "Ludicrous Mode."... Read More »

Renault mulls Iran launch for Kwid crossover

July 20, 2015 17:28 CET

Renault may sell its new Indian-built Kwid crossover in Iran in a bid to freshen its model lineup as it prepares to return to the market following a deal to lift economic sanctions.... Read More »

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