Daily Email Thursday

GM's quarterly profit plunges on recall costs

7:36 am U.S. ET | July 24, 2014
The heavy cost of General Motors' unprecedented slew of safety recalls during the second quarter wiped out most of its profits, erasing the fruits of strong truck pricing in North America and sales growth in China.... Read More »

 

Ford Q2 earnings rise on N.A. record, first European profit in 3 years

6:45 am U.S. ET | July 24, 2014
Ford posted a second-quarter pretax profit of $2.6 billion, bolstered by a record performance in North America and its first quarterly profit in Europe in three years.... Read More »

 

Group 1 Q2 profit tumbles 55% on Brazilian problems

9:47 am U.S. ET | July 24, 2014
Group 1 Automotive today said its second-quarter net income tumbled 55 percent from a year earlier to $16.9 million, dragged down by a struggling economy in Brazil which accounts for 8 percent of its revenue.... Read More »

 

GM is 'paying for past sins,' analyst says

12:33 pm U.S. ET | July 24, 2014
A sampling of what analysts and others are saying about GM's second-quarter financial results released today:... Read More »

 

Fiat and PSA dismiss latest tie-up report

3:15 pm U.S. ET | July 24, 2014
PSA/Peugeot-Citroen and Fiat Chrysler denied a report that the companies were preparing a merger to create the world's fifth-largest carmaker.... Read More »

 

Acura NSX prototype bursts into flames during testing

1:42 pm U.S. ET | July 24, 2014
An Acura NSX prototype burst into flames today while testing in Germany, but Acura says the futuristic sports car is continuing "progress toward its highly anticipated launch."... Read More »

 

Gentex Q2 net income grows 47 percent

3:19 pm U.S. ET | July 24, 2014
Automotive mirror supplier Gentex reported $76.7 million in net income with total revenue of $338.4 million for the second quarter.... Read More »

 

Don't get out the party hats at Ford just yet, analyst says

2:18 pm U.S. ET | July 24, 2014
A roundup of what analysts and others are saying about Ford Motor Co.'s second-quarter financial results released today:... Read More »

 

Cooper-Standard begins operations at Asia Pacific tech center

2:44 pm U.S. ET | July 24, 2014
Auto supplier Cooper-Standard Automotive Inc. began operations at its Asia Pacific Technical Center today in Shanghai.... Read More »

 

Outstanding U.S. auto loans hit all-time high, Equifax says

1:58 pm U.S. ET | July 24, 2014
Total outstanding auto loans in the United States hit an all-time high of $902 billion this spring, an increase of more than 10 percent from the same time a year earlier, according to the latest Equifax National Consumer Credit Trends Report, which was released today.... Read More »

 

Mike Alexander, famed car customizer and Ridler winner, dies at age 80

10:46 am U.S. ET | July 24, 2014
Mike Alexander, a famed Detroit custom-car builder who won a Ridler award with a modified 1966 Dodge pickup, died on July 18. He was 80.... Read More »

 

GM Korea could make next-gen Cruze if union calls off strike

7:22 am U.S. ET | July 24, 2014
GM's South Korean subsidiary told its employee union that the automaker could consider making the next-generation Chevrolet Cruze in South Korea if the union calls off a wage-related strike.... Read More »

 

Hyundai Q2 profit dips 7% on strengthening currency

6:33 am U.S. ET | July 24, 2014
Hyundai's net profit fell the most in five quarters, hit by the local currency's strength, and said it may make more vehicles overseas as it braces for a tough second half with the won still strong.... Read More »

 

THE GM RECALL

GM seeks broader immunity in switch lawsuits

3:49 pm U.S. ET | July 23, 2014
GM, moving to expand its immunity from lawsuits after recalling almost 29 million cars in North America, said it sees no need to try to settle customer claims until a judge decides whether it's legally responsible for faults in its predecessor's cars.... Read More »

 

Opel plans 'electric' successor to Ampera plug-in hybrid

3:53 pm U.S. ET | July 23, 2014
Opel said it plans an "electric" successor to the Ampera. The plug-in hybrid was introduced across Europe in 2011 but will be discontinued.... Read More »

 

Fewer bosses, Disney savvy, $2 idea lift stores

12:01 am U.S. ET | July 21, 2014
A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. And an Audi dealership uses $2 envelopes to ensure the return of $300 key fobs. These are just a few ways three California auto retailers are boosting sales, customer satisfaction and profits.... Read More »

 

'15 Ford Mustang V-8 to pump out 435 hp

1:47 pm U.S. ET | July 17, 2014
The 5.0-liter V-8 engine in the 2015 Ford Mustang will crank out 435 hp, up from 420 hp, and provide torque of 400 pounds-feet, up from 390 on the current model, the company said today.... Read More »

 

THE GM RECALL

Barra defends GM's top lawyer as senators press for more legal staff changes

12:01 am U.S. ET | July 17, 2014
GM has not done enough to overhaul its legal department in the wake of its recall crisis, several U.S. senators said today as they pressed GM CEO Mary Barra to fire the automaker's top lawyer. But Barra said she intended to keep Michael Millikin, GM's general counsel since 2009, defending him as “a man of incredibly high integrity” whose subordinates failed him.... Read More »

 

ZF can hike offer for TRW as high as $13 billion, report says

10:49 am U.S. ET | July 17, 2014
ZF Friedrichshafen, moving to acquire TRW Automotive, has been told by lenders that financing is available for a higher all-cash bid which could value the U.S. company at as much as $13 billion, people with knowledge of the matter said, Bloomberg reported.... Read More »

 

AutoNation's Q2 net rises 12% on 8% revenue gain

7:30 am U.S. ET | July 17, 2014
AutoNation posted a double-digit gain in second-quarter net income but fell shy of analysts’ profit expectations as digital investment drove expenses higher. The nation’s largest dealership group said its net profit rose 12 percent, helped by gains in all of its business units.... Read More »

 

European car sales rise 4%, boosted by incentives

4:09 am U.S. ET | July 17, 2014
European car sales rose 4 percent in June as an economic recovery in southern Europe, new product launches and retail incentives boosted demand for mass-market brands.... Read More »

 

Fiat, VW deny report that they are in merger talks

5:49 am U.S. ET | July 17, 2014
Volkswagen AG, Fiat S.p.A. and Fiat's controlling shareholder all denied a German magazine report today that the German and Italian automakers have discussed a possible merger. Volkswagen has approached rival Fiat about a possible merger, Germany's Manager Magazin reported on its website earlier today, citing unnamed company sources.... Read More »

 

GM recalled some models with problematic switches; judges others safe, report says

8:28 am U.S. ET | July 17, 2014
GM last month recalled millions of vehicles with three different designs of ignition switches that could accidentally turn off the engine and disable air bags in a crash. But the automaker has concluded that more than 2 million other vehicles equipped with the same switches are safe.... Read More »

 

Chrysler accelerates Jeep repairs

8:22 am U.S. ET | July 17, 2014
Chrysler Group told federal safety regulators it could add trailer hitches to recalled Jeep SUVs by March, much sooner than the several years estimated by regulators who had urged the automaker to quicken the pace of repairs.... Read More »

 

Mazda2 output begins in Japan

7:34 am U.S. ET | July 17, 2014
Mazda began manufacturing the next-generation Mazda2 subcompact in Japan today and unveiled the first pictures of the production model.... Read More »

 

Special Report
Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
» Watch the Video
     
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