Currency

Chrysler to take $130 million charge in first quarter due to Venezuela

4:25 pm U.S. ET | April 11, 2014
A change in the way it measures currency in Venezuela will cause Fiat Chrysler Automobile's Chrysler Group LLC unit to take a $130 million charge in its first quarter, Chrysler said today in a filing with federal regulators.... Read More »

 

Ford plans $350 million charge on drop in Venezuelan currency

6:19 pm U.S. ET | April 1, 2014
Ford, which warned in December about volatility in its Venezuelan operations, will take a charge of about $350 million in the first quarter for a change in how it values the South American nation's currency.... Read More »

 

Renault least vulnerable European automaker in Russian turmoil

March 24, 2014 13:52 CET
Russia's leading carmaker, Renault-Nissan-AvtoVAZ, is best placed to withstand the effects of a weakening ruble from the fallout of the country's annexation of Crimea, analysts say.... Read More »

 

Ruble slide offers mixed blessings for Russia's car industry

March 22, 2014 06:01 CET
The damage to consumer confidence in Russia from a plunge in the value of the ruble could be offset for local carmakers as they become more competitive against foreign brands.... Read More »

 

BMW's finance chief sees risks to group's Russia business

March 20, 2014 11:58 CET
BMW CFO Friedrich Eichiner said any worsening of the crisis between Ukraine and Russia would jeopardize the company's outlook.... Read More »

 

UK's GKN sees more growth this year, warns of dollar impact

Feb. 26, 2014 13:22 CET
UK supplier GKN says profits rose 17 percent last year on strong demand for car parts. The company now sees its auto business outpacing an anticipated 3 percent expansion in the market this year.... Read More »

 

Ford's Hinrichs: Toyota, Japanese unfairly aided by currency manipulation

Feb. 7, 2014 06:01 CET
Joe Hinrichs, president of Ford's Americas unit, took Japan and specifically Toyota to task for benefiting unfairly from currency manipulation.... Read More »

 

Ford's Hinrichs: Toyota, Japanese unfairly aided by currency manipulation

2:34 pm U.S. ET | Feb. 6, 2014
Joe Hinrichs, president of Ford's Americas unit, took Japan and specifically Toyota to task today for benefiting unfairly from currency manipulation.... Read More »

 

Mitsubishi boosts profit on weaker yen

Feb. 5, 2014 08:41 CET
Mitsubishi swung to a net profit in the October-December quarter and reported a fourfold increase in operating profit, as a weaker yen bolstered results.... Read More »

 

Kia profit hit as stronger won hurts car exports

Jan. 24, 2014 06:01 CET
Kia posted fourth-quarter profit that missed estimates as a stronger won cut exports.... Read More »

 

Kia's fourth-quarter profits rise 29%

8:34 pm U.S. ET | Jan. 23, 2014
Kia's fourth-quarter profit rose 29 percent, beating analysts' estimates, after sales of pricier models increased at home. The higher sales of Sportage and Soul vehicles are a bright spot in a year in which a stronger won damped revenue in the United States, Kia's biggest market, and the company agreed to settle lawsuits for overstating fuel-economy ratings.... Read More »

 

Toyota, Honda, Nissan set N.A. output records as yen weakens

3:19 pm U.S. ET | Jan. 21, 2014
Toyota, Honda and Nissan set production records at their North American auto-assembly plants last year even as the yen weakened against the dollar for a second consecutive year.... Read More »

 

2014 AUTOMOTIVE NEWS WORLD CONGRESS

Volvo could bring China-built vehicles to U.S. 'fairly quickly'

Jan. 21, 2014 06:01 CET
Volvo chief Hakan Samuelsson says cars built in China could soon be exported to the United States. The CEO says he doesn't expect consumers there to react negatively to the notion of China-built Volvos.... Read More »

 

U.S. automakers call for currency rule in Pacific trade pact

5:28 pm U.S. ET | Jan. 9, 2014
American automakers on Thursday pushed for rules against currency manipulation to be included in an ambitious trade pact being negotiated between the United States and 11 other Pacific Rim countries.... Read More »

 

Mitsubishi lifts profit outlook on weakening yen

7:03 am U.S. ET | Dec. 20, 2013
Mitsubishi Motors lifted its operating profit forecast for the current financial year by 20 percent, helped by a weakening yen, cost cuts and strong sales of the Outlander SUV plug-in hybrid.... Read More »

 

Japanese car exports to U.S. get boost from weak yen

7:27 am U.S. ET | Dec. 20, 2013
Japan's exports rose for a ninth consecutive month in November, with light-vehicle shipments to the United States rising 13 percent, a sign the weak yen and a recovery in global demand are energizing a major growth driver in the world's third-biggest economy.... Read More »

 

BMW said to mull first engine plant in U.S. or Mexico

Dec. 11, 2013 12:04 CET
BMW is said to mull building engines in the United States or Mexico for the first time and expanding vehicle production in the region to capitalize on growing demand.... Read More »

 

Mazda profits surge 60% on currency gains, strong sales

2:11 pm U.S. ET | Oct. 31, 2013
Mazda said its profits in the quarter ended Sept. 30 surged on exchange-rate gains and higher sales. Net income jumped 60 percent to 19.53 billion yen ($198.5 million) as revenue rose 24 percent to $6.5 billion.... Read More »

 

Faurecia posts flat third-quarter revenue on currency woes

Oct. 23, 2013 11:10 CET
Faurecia, the French supplier owned by PSA/Peugeot-Citroen, said revenue rose 0.8 percent in the third quarter as currency effects curbed sales growth.... Read More »

 

HANS GREIMEL

Japan frets as U.S. budget impasse spoils profit outlook

3:20 pm U.S. ET | Oct. 10, 2013
Japan's carmakers are nervously watching Washington's budget battle and debt debate, because they could end up big losers in an extended shutdown or default.... Read More »

 

LETTER TO THE EDITOR

Yen is only part of the trade story

12:01 am U.S. ET | Sept. 9, 2013
As long as Japan remains a captive market for Japanese automakers, the playing field will never be "level" as you describe in "Stop crying about the 'weak' yen" (autonews.com, Aug. 15).... Read More »

 

Fate of GM, Toyota factories hangs on Australian election

12:01 am U.S. ET | Sept. 3, 2013
The fate of GM and Toyota assembly plants in Australia hangs on the September 7 election that pits a government committed to subsidies against an opposition vowing to scale back support.... Read More »

 

MARK RECHTIN

Time to stop whining about the weak yen

12:01 am U.S. ET | Aug. 19, 2013
Detroit automakers need to stop whining about the weak yen damaging their ability to compete against Japanese automakers.... Read More »

 

MARK RECHTIN

Stop crying about the 'weak' yen

12:01 am U.S. ET | Aug. 15, 2013
Detroit automakers need to stop whining about the weak yen damaging their ability to compete against Japanese automakers. It conjures up decades-old images of excuse-making, when the Detroit 3's problems were everyone's fault but their own.... Read More »

 

RYAN BEENE

Weak yen turbocharges Mazda profits

12:01 am U.S. ET | Aug. 5, 2013
What last year was Mazda Motor Corp.'s biggest headache has become a key earnings advantage: its heavy exposure to the Japanese yen.... Read More »

 

Subscribe
 
 
Most Read
Special Report
How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, needed more used cars. But driving 150 miles to the nearest auction was time-consuming and costly. Mon., April 14
» Watch the Video
     
Rocket Fuel