Earnings

Dealertrack reports revenue gains for Q4, all of 2014

12:02 pm U.S. ET | Feb. 24, 2015

Dealertrack Technologies, which supplies a wide variety of auto dealership retail software and services, said it posted revenue gains across the board during the fourth quarter of 2014 -- including organic growth of more than 20 percent....
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GKN sees more growth this year after 2014 profits rise 4%

Feb. 24, 2015 11:12 CET

UK supplier GKN reported a 4 percent rise in annual profit last year and said it expected to grow again in 2015, helped by the continued strong demand for car parts....
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TrueCar to stress mobile shopping as revenue surges

7:51 pm U.S. ET | Feb. 19, 2015

TrueCar is rebuilding its computer interface around mobile car-shopping to seize on a pronounced trend in its traffic volume, CEO Scott Painter said. In January for the first time, 50 percent of shoppers on TrueCar’s website got there via a mobile device, Painter said; that figure is expected to grow to 90 percent in 18 months....
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Dana posts gains in Q4 net income

12:27 pm U.S. ET | Feb. 19, 2015

Powertrain component supplier Dana Holding reported gains in net income for the fourth quarter and 2014, but slipped in revenue in both the quarter and year. Net income for the quarter was $109 million, up from $42 million in 2013....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Auto sector rebounds in fourth quarter

Feb. 19, 2015 06:01 CET

All automotive sectors ended 2014 with a strong final quarter, according to the Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Indices....
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PSA reports first profit in 3 years after cutting costs

Feb. 18, 2015 08:53 CET

PSA took a step toward its recovery goals, raising its key cash-flow objective after strong China sales and a recovering Europe helped the automaker post its first annual operating profit in three years....
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Lear to buy more shares, boost dividend

10:09 am U.S. ET | Feb. 17, 2015

Weeks after receiving a letter from an activist investor urging the company to split into two separately traded public companies, Lear said today it will increase its share repurchase program and quarterly dividend....
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Daimler increases Zetsche's pay by 1.4%

Feb. 17, 2015 15:34 CET

Daimler has raised CEO Dieter Zetsche's pay by 1.4 percent to to 8.36 million euros ($9.49 million) after the maker of Mercedes cars posted record deliveries last year and narrowed its sales gap to rivals BMW and Audi....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Incoming Bosch auto boss must boost margin, fend off rising Conti, ZF

Feb. 16, 2015 06:01 CET

When Rolf Bulander takes over as head of Bosch's car parts division in April he will face hurdles such as raising the unit's margin to 8 percent and maintaining its position as the world's largest supplier despite intensifying competition from Continental and ZF....
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NEWS ANALYSIS

Tavares 'starting to deliver' on PSA turnaround plan

Feb. 15, 2015 08:41 CET

Nearly 12 months after PSA/Peugeot-Citroen was rescued from financial disaster by the sale of stakes to China's Dongfeng and the French state, CEO Carlos Tavares is on track to turn around the troubled automaker, industry watchers say. PSA, which presents its 2014 financial results this week, has been boosted by surging sales in China, a recovery in Europe and the first results of Tavares' “Back in the Race” strategic plan....
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NEWS ANALYSIS

Can Ferrari really cut it in luxury beyond supercars?

Feb. 14, 2015 06:01 CET

Ferrari faces a battle to persuade investors that it should be priced as a high-flying luxury goods stock. Compared with high-end brands such as Prada, Ferrari's margins are low and it needs heavy investment to make its prancing horse logo a big attraction on exclusive lines besides cars....
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Tower International posts Q4 gain in adjusted earnings

4:07 pm U.S. ET | Feb. 13, 2015

Tower International, a structural metal components and assemblies supplier, on Thursday reported a gain in adjusted earnings but a net loss overall for the fourth quarter. The company said adjusted earnings before taxes and other expenses rose 12 percent in the quarter to $55 million....
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TRW says adjusted Q4 profits rose 26%

9:24 am U.S. ET | Feb. 13, 2015

TRW Automotive Holdings, which is being acquired by German supplier ZF Friedrichshafen AG, today said fourth-quarter adjusted earnings grew 26 percent from last year....
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Renault pledges 2015 profit gain on product offensive

Feb. 12, 2015 08:28 CET

Renault is targeting further sales and earnings improvement this year after strong European deliveries of its low-cost Dacia cars and small SUVs helped to more than tripled full-year profit....
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NEWS ANALYSIS

GM faces investor demand for slice of $25 billion cash hoard

8:34 pm U.S. ET | Feb. 12, 2015

An investor group demand that General Motors give back more of its $25 billion cash hoard confronts CEO Mary Barra with a challenge to her plans for building the company and rewarding shareholders....
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GM seeks banks' advice on dealing with activist investor group

12:13 pm U.S. ET | Feb. 12, 2015

General Motors has turned to two investment banks to help it come up with a response to a shareholder group demanding $8 billion in stock buybacks and a seat on the board of the automaker, the company told Reuters....
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BorgWarner Q4 revenue rises as net income declines slightly

11:04 am U.S. ET | Feb. 12, 2015

BorgWarner, the turbocharger and emissions systems supplier, reported today fourth-quarter gains in revenues and a slight decline in net income....
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Faurecia predicts 2015 profit boost on weak euro

Feb. 12, 2015 09:57 CET

Faurecia said a lower euro and cheaper raw materials would lift profit in 2015 as it posted solid second-half earnings growth. Net income rose to 78 million euros ($88 million) in the half, a 47 percent gain....
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Wilson sees plenty to fix at GM

12:47 pm U.S. ET | Feb. 11, 2015

Harry Wilson has made it clear that General Motors' inert cash pile is just the first problem he would like a chance to fix if he gets himself elected to GM's board. "This is certainly much broader than a capital return question," Wilson said Tuesday....
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GM was considering buyback since before activist pressure, report says

3:46 pm U.S. ET | Feb. 11, 2015

Even before former Treasury official Harry Wilson showed up at General Motors asking for a share buyback, the automaker was considering just such a move that could come later in this year, a person familiar with the matter told Bloomberg....
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Tesla meets Model S production goal, but losses widen

5:30 pm U.S. ET | Feb. 11, 2015

Tesla's fourth-quarter net losses widened to $108 million from $16 million as the EV maker approached the final stages of development for its Model X crossover. Fourth-quarter revenues were $957 million, up 55 percent from $615 million. Tesla said it manufactured 11,627 vehicles in the fourth quarter....
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Penske Automotive reports 23% gain in Q4 net income

10:20 am U.S. ET | Feb. 11, 2015

Strong year-end vehicle sales, gains in service and parts gross margins and investments in US commercial vehicle businesses pushed Penske Automotive Group to a 23 percent gain in net income during the fourth quarter....
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Marchionne says 'beauty contest' for Ferrari IPO is under way

Feb. 11, 2015 09:19 CET

A "beauty contest" is under way to select the banks that will take Ferrari public, said Sergio Marchionne, CEO of the supercar maker's parent, Fiat Chrysler Automobiles....
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GM management too slow, vague, Wilson says

4:54 pm U.S. ET | Feb. 10, 2015

General Motors' management has been too slow to make changes that would improve profitability and too vague in setting near-term milestones for performance, the leader of an investor group seeking a seat on the board said on Tuesday....
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Nissan operating profit nearly doubles on U.S. sales surge, weak yen

4:04 am U.S. ET | Feb. 9, 2015

Nissan's operating profit nearly doubled in its latest financial quarter, fueled by a favorable exchange rate and robust sales in North America....
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