Group 1's Q3 net falls 22% on soft energy, UK marketsThu, 20, Oct 2016
Group 1 Automotive's net income fell 22 percent in the third quarter to $35.4 million, hurt by sales weakness in energy-dependent markets and soft sales in the U.K. following the Brexit vote to leave the European Union.
Gentex posts 18% gain in Q3 net incomeThu, 20, Oct 2016
Mirror and electronics supplier Gentex saw its third-quarter net income climb 18 percent to $92.1 million as sales at its automotive unit increased. Gentex typically serves as a bellwether for suppliers as it is one of the first of its peers to release its quarterly results.
Lithia’s Q3 net rises 25 percent on broad revenue gainsThu, 20, Oct 2016
Lithia’s third-quarter net income rose 25 percent from a year earlier to $54 million, as revenue rose 8.9 percent to a third-quarter record $2.27 billion, the company said today.
Dana Q3 net income drops to $57 millionThu, 20, Oct 2016
Dana, the longtime supplier of various drivetrain components, today reported net income of $57 million in the third quarter, down 52 percent from the year-earlier period as sales from its commercial-vehicle units fell again.
VW targets $4.1 billion in cost cuts, report saysThu, 20, Oct 2016
Volkswagen is targeting about 3.7 billion euros ($4.1 billion) of cost cuts at its core VW brand by 2021 as it wrestles with labor leaders over a turnaround plan, sources told Reuters. The targeted savings would be in addition to a 5-billion-euro efficiency program announced by VW in 2014.
Continental cuts profit guidance on warranty cases, supply disruptionsMon, 17, Oct 2016
German car components supplier Continental AG trimmed its profit forecast for the year, citing warranty cases and possible expenses for antitrust proceedings as well as supply disruptions following earthquakes in Japan.
GM, despite record profits, struggles with Wall Street cynicismWed, 05, Oct 2016
GM generates $1 billion in pretax profit a month. Yet the stock market seems unimpressed, assigning the company a market value of just $50 billion. It's one of the more vexing questions Dan Ammann, the company's president, faces every day.
Tesla sets quarterly sales record as shipments move closer to 2016 goalSun, 02, Oct 2016
Tesla delivered a record 24,500 vehicles in the third quarter, assuring investors that it will meet its 2016 targets ahead of a crucial plan to raise more capital. The company said Sunday it shipped about 15,800 Model S sedans and 8,700 Model X crossovers last quarter.
VW scandal spreading to Audi risks hitting automaker's top profit generatorTue, 27, Sep 2016
Volkswagen Group's attempts to contain the fallout from the emissions-cheating scandal suffered setbacks after Audi, the group's biggest profit generator, lost a key engineer tainted by the scandal and a media report suggested its CEO, Rupert Stadler, knew about the cheating back in 2010.
VW should reduce 'huge sums' paid to bosses, activist investor saysFri, 23, Sep 2016
Volkswagen Group should reduce the "huge sums of money" paid to executives and any bonuses should be given in shares, activist investor TCI Fund Management said in a letter to the car company seen by Reuters.
CarMax quarterly earnings fall 5.7%Wed, 21, Sep 2016
CarMax's quarterly earnings dropped 5.7 percent, as customer demand leaned toward older, less expensive used vehicles, the retailer said. It also said a test to deliver used vehicles to customers' homes rolled into Charlotte, N.C.
GM affirms profit and cost cutting targetsWed, 21, Sep 2016
GM affirmed its forecast for 2016 profit of up to $6.00 per share and said it expected to exceed its cost-savings target of $5.5 billion by 2018 as the automaker unveiled a new effort to convince investors of its value.