Earnings

GM sales surge despite recalls as Barra proves quality sells

9:10 am U.S. ET | July 23, 2014
General Motors' Mary Barra is projected to report her second straight quarter of rising sales, adding to evidence that the CEO is weathering the biggest wave of recalls in automotive history. Second-quarter revenue may rise 2.7 percent, the average of estimates compiled by Bloomberg....
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Federal-Mogul posts $5 million net loss in Q2 as revenue rises

3:34 pm U.S. ET | July 23, 2014
Auto supplier Federal-Mogul today reported a $5 million net loss after factoring in one-time charges, along with a $128 million revenue gain for the second quarter. The company, controlled by longtime Wall Street investor Carl Icahn, had one-time restructuring and impairment charges of $32 million and posted a $3 million loss from continuing operations....
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Lithia Q2 profits hit record highs

8:39 am U.S. ET | July 23, 2014
Lithia Motors today reported the highest adjusted quarterly net income in the company's history -- a 29 percent surge to $35 million....
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Daimler quarterly earnings rise 12% on sales of S class

July 23, 2014 08:25 CET
Daimler said second-quarter profit rose 12 percent as Mercedes S-class sales doubled and the company scaled back spending....
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Sogefi reports first-half loss on restructuring costs, Brazil downturn

July 22, 2014 15:29 CET
Italian supplier Sogefi reported a first-half net loss, hit by restructuring costs, the negative impact of the strong euro on South American currencies and a sharp slowdown in the Brazilian market....
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Sonic's Q2 profits triple on extraordinary items; expenses rise

12:18 pm U.S. ET | July 22, 2014
Sonic Automotive posted higher revenue and net profit during the second quarter, but expenses increased as the retailer continues to ready its launches of a new customer-experience initiative and standalone used-car stores....
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Asbury posts Q2 double-digit profit, revenue gains

7:07 am U.S. ET | July 22, 2014
Improving car sales and a double-digit revenue jump helped drive second-quarter profits up 33 percent at Asbury Automotive Group, as all parts of its business showed gains, the auto retailer said today....
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Takata to book $440 million special loss for wave of recalls

7:25 am U.S. ET | July 18, 2014
Takata will book a special loss of around $440 million in the April-June quarter after several automakers recalled vehicles due to potential problems with the supplier's airbags. The cost of the recalls could increase if a safety probe in the United States finds evidence that driving in high humidity increases the risk of the airbags exploding, or if automakers decide to expand the recalls beyond certain U.S. regions....
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JCI profits fall on restructuring charges

8:46 am U.S. ET | July 18, 2014
Johnson Controls' fiscal third-quarter earnings slid 68 percent as restructuring and other charges offset a modest rise in revenue....
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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....
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VW targets $6.8 billion in annual cuts to close profit gap with rivals

11:18 am U.S. ET | July 15, 2014
Volkswagen AG plans to cut costs and boost productivity at the VW brand by $6.8 billion a year by 2017 to lift sagging profitability. Efficiency gains have failed to keep pace with rising labor costs, CEO Martin Winterkorn said in an internal presentation to company managers....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

The key players: A brand-by-brand breakdown of VW Group's most important marques

July 7, 2014 06:01 CET
With the purchase of the Porsche brand in August 2012, VW Group added a 12th nameplate to its broad portfolio, which stretches from Ducati motorcycles via VW mass-market vehicles to 40-ton trucks....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

VW's struggles in key markets threaten momentum as post-Piech era looms

July 7, 2014 06:01 CET
VW Group Chairman Ferdinand Piech has succeeded in creating an automotive giant with huge cash reserves. However, problems gaining a foothold in key markets and a delicate power balance could threaten VW after Piech departs....
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Fiat narrows Q1 loss by 46% after Chrysler-related accounting change

1:23 pm U.S. ET | July 3, 2014
Fiat has revised its first quarter net loss to 173 million euros ($236 million) from a previously announced loss of 319 million euros based on accounting changes related to its buyout of Chrysler....
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Porsche will increase work force 24% in global expansion

July 1, 2014 15:43 CET
Porsche will increase its headcount by about 5,000 to underpin its global growth ambitions. The new jobs will be created in model development, production, sales and servicing, Porsche said....
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Airbag recall could drive Takata into the red

5:44 pm U.S. ET | June 25, 2014
Takata could face a $500 million charge and a net loss this year -- its second in three years -- as a widening recall of airbag inflators begins to kindle worries despite its deep pockets....
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CarMax fiscal Q1 earnings rise 16%

3:20 pm U.S. ET | June 20, 2014
CarMax's net earnings rose 16 percent to $169.7 million in its first fiscal quarter, from the year-earlier period, on higher retail and wholesale unit sales and income from its captive finance unit....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Marchionne insists Fiat Chrysler needs 9 brands; market watchers disagree

June 11, 2014 06:01 CET
Fiat Chrysler CEO Sergio Marchionne wants his recently merged nine-brand automaker to more than double vehicle sales and operating profit, but analysts doubt there will be enough cash to fund volume growth....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BMW, JLR, Daimler turn plant efficiency into profit

June 10, 2014 06:01 CET
BMW, Jaguar Land Rover and Daimler ranked one, two and three in European plant capacity usage last year, according to data from research firm Inovev. All three automakers turned that efficiency into profitability....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

PSA's Bonnefont shares strategy for making DS a worldwide winner

June 9, 2014 06:01 CET
Yves Bonnefont became the first CEO of PSA's upscale DS brand on June 1. The group's former director of strategy is now tasked with elevating DS from a tiny-but-successful division of Citroen to a global powerhouse....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

BMW sales boss bullish on 'born electric' range

June 6, 2014 06:01 CET
BMW aims to leverage improved margins with the i subbrand at a time when it believes the global premium sector price war is easing everywhere except in Europe. BMW brand sales boss Ian Robertson spoke about the strategy....
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Ford expects 'significant' Q2 loss in South America

3:24 pm U.S. ET | June 5, 2014
Ford expects to incur a "significant" loss in South America in the current quarter mainly due to low sales volumes and changes to Venezuela's foreign exchange rate....
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GM says '14 profit may be ahead of plan, sees Europe in the black by mid-decade

4:02 pm U.S. ET | June 5, 2014
GM said today its 2014 profit could be stronger than it expected and painted a more rosy picture in Europe, on the same day it said "incompetence and neglect" at the company failed to catch a defective ignition switch linked to at least 13 deaths....
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Opel plans return to profit through closer ties with parent GM

June 4, 2014 12:38 CET
Opel aims to return to profit and increase its market share in Europe by focusing on smaller cars using more components from parent company General Motors, CEO Karl-Thomas Neumann says....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Zetsche's risky bet on an expanded compact lineup pays off for Mercedes

June 3, 2014 06:01 CET
Daimler CEO Dieter Zetsche's decision to expand Mercedes's compact lineup into a five-model range is capturing new customers for the brand -- and at minimal risk of diluting its premium positioning....
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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
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