Earnings

VW Group reports record profit on Audi, Porsche gains

Feb. 27, 2015 15:56 CET
VW Group said its operating profit rose 8.8 percent to a record 12.7 billion euros ($14.25 billion) last year on double-digit gains in sales of luxury Audi and Porsche models. The company said its sales revenue rose 2.8 percent to a new high of 202.5 billion euros....
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Federal-Mogul delays split into two public companies

9:58 am U.S. ET | Feb. 26, 2015
Federal-Mogul, the powertrain and aftermarket parts supplier controlled by Wall Street investment mogul Carl Icahn, said this week it will delay a prior plan to split into two separate public companies during the first half of this year....
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Daimler plans years of cost cuts to offset investments to reduce CO2 emissions

Feb. 26, 2015 10:26 CET
Daimler plans to offset higher costs for technology to cut CO2 emissions with material cost savings for at least the next few years, Chief Financial Officer Bodo Uebber said....
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Volvo boosts 2014 profit by 17% on record sales

Feb. 26, 2015 08:31 CET
Volvo said its 2014 operating profit rose 17 percent in its best year of sales to date as rapid expansion in China and recovery in Europe offset the brand's continued weakness in the U.S....
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Lithia Q4 net income jumps 50% as it makes acquisitions top priority

9:38 am U.S. ET | Feb. 25, 2015
Strong sales across all divisions and the integration of its purchase last year of DCH Auto Group pushed Lithia Motors' net income up 50 percent during the fourth quarter....
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Magna cuts sales forecast on weak Europe demand, approves stock split

7:01 am U.S. ET | Feb. 25, 2015
Canadian auto parts maker Magna International Inc. cut its revenue forecast for 2015, hurt by weak demand from Europe....
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Valeo sees further profit gain after beating 2014 goal

Feb. 25, 2015 10:33 CET
Valeo is targeting a further boost in profitability this year after exceeding its 2014 goals on strong demand for emissions-cutting technologies and intuitive driving systems. The company's operating profit margin rose to 7.2 percent last year beating a 7 percent goal....
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Cooper Standard pares Q4 losses to $12.8 million

3:52 pm U.S. ET | Feb. 24, 2015
Cooper-Standard Holdings Inc., facing foreign currency issues and soft sales on key programs in North America, said it lost $12.8 million in the fourth quarter of 2014. That was an improvement over the $20.8 million it lost during the same quarter a year earlier....
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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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