GM shares return to $33 IPO price on optimism for truck sales 10:19 am U.S. ET | May 17, 2013  Shares in GM topped its $33 initial public offering price for the first time in more than two years as the automaker prepares to introduce redesigned full-sized pickups.... Read More »
Tesla expands share, debt offering to repay U.S. loan, hike cash 10:34 am U.S. ET | May 17, 2013  Tesla Motors increased the size of its equity and debt offerings by 30 percent to as much as $1.08 billion to repay its U.S. loan and build up cash reserves.... Read More »
Tesla issuing stock, debt to accelerate repayment of U.S. loan 5:34 pm U.S. ET | May 15, 2013  Tesla Motors plans to issue 2.7 million new shares and debt to repay its U.S. Energy Department loan faster than a five-year plan.... Read More »
Ally clears barrier for IPO with plan to resolve mortgage claims 1:59 pm U.S. ET | May 14, 2013  Ally Financial moved closer to repaying its government bailout as the auto lender reached agreement with creditors of its bankrupt mortgage unit.... Read More »
Penske raises dividend 7% 3:52 pm U.S. ET | May 10, 2013  Penske Automotive Group increased its quarterly dividend by 7 percent, to 15 cents per share, for the first quarter, the company announced today.... Read More »
Schaeffler said to consider 2014 initial public offeringApril 25, 2013 13:04 CET German supplier Schaeffler is exploring an initial public offering next year in Germany, three people familiar with the matter said.... Read More »
Fiat weighs New York listing following merger with Chrysler, report saysApril 24, 2013 18:19 CET  Fiat may select New York as the primary exchange for its stock after a planned merger with Chrysler Group, sources said. The move would be highly political and symbolic for debt-ridden Italy as it struggles to emerge from a cycle of recessions.... Read More »
Lear reaches deal with dissident shareholders, expands buybackApril 2, 2013 06:01 CET  In the midst of a proxy fight with dissident investors, Lear announced an agreement with shareholders Marcato Capital Management and Oskie Capital Management to expand a stock buyback and keep the hedge funds' nominees off Lear's board.... Read More »
Lear reaches deal with dissident shareholders, expands buyback 12:23 pm U.S. ET | April 1, 2013  In the midst of a proxy fight with dissident investors, Lear announced an agreement with shareholders Marcato Capital Management LLC and Oskie Capital Management LLC to expand a stock buyback and keep the hedge funds' nominees off Lear's board.... Read More »
Sonic, citing weak accounting controls at dealerships, delays annual report 12:53 pm U.S. ET | March 18, 2013  Sonic Automotive told regulators on Monday it delayed the filing of its annual report because of weak accounting controls at its dealerships. Sonic said in a regulatory filing it believes that financial results will be the same as reported on Feb. 20.... Read More »
Ford seeks more pension stability after funding shortfall widens 12:34 am U.S. ET | March 16, 2013  Ford, moving to close a growing deficit in its pension funding, will shift more of its plan's assets to fixed income to shield against changes in interest rates.... Read More »
Ford CEO Mulally's 2012 compensation falls 29% to $20.99 million 9:15 am U.S. ET | March 15, 2013  Ford CEO Alan Mulally's compensation fell 29 percent in 2012 as the company failed to hit several performance targets. Mulally's pay dropped to $20.99 million from $29.5 million in 2011. Mulally received $2 million in salary, a $3.95 million cash bonus and stock awards totaling $14.3 million last year, according to a proxy statement released by the company today.... Read More »
U.S. sold $489.9 million in GM shares in February 6:19 pm U.S. ET | March 11, 2013  The U.S. Treasury, which is exiting its ownership stake in GM, accelerated its sell-down of the automaker in February, saying it received $489.9 million in proceeds from the sale of common shares.... Read More »
Nexteer planning $500 million stock offering in Hong Kong, report says 4:12 pm U.S. ET | March 11, 2013 Nexteer Automotive, the one-time GM and Delphi steering operation controlled by China’s biggest aerospace company, may seek as much as $500 million in an initial public offering in Hong Kong, two people with knowledge of the matter told Bloomberg.... Read More »
VW eyes flat 2013 profits as Europe crisis drags on 10:34 am U.S. ET | Feb. 22, 2013  Volkswagen AG forecast that 2013 operating profit will match last year's level, falling short of analysts' estimates, as the shrinking auto market in its home region weighs on earnings.... Read More »
Lampert's RBS hedge fund cuts stake in AutoNation 6:19 pm U.S. ET | Feb. 14, 2013  Edward Lampert, the billionaire chairman and CEO of Sears Holdings, reported that he and his hedge fund cut a stake in AutoNation, the country's largest auto retailer.... Read More »
Supplier Linamar searching for talented hires as business surges 12:01 am U.S. ET | Feb. 9, 2013  Linamar, the third-best performing auto supplier stock in the past year, says the biggest obstacle to its goal of tripling revenue and boosting profit seven-fold is finding skilled workers willing to earn C$80,000 ($80,000) a year.... Read More »
Lear investor group seeks board seats to boost shareholder value 12:56 pm U.S. ET | Feb. 8, 2013  Lear shares rose the most in more than two years after an investor group said it would nominate directors and push the auto-parts maker to return more cash to shareholders.... Read More »
Mazda, Subaru hike profit outlook as yen weakens 7:48 am U.S. ET | Feb. 6, 2013  Mazda and Subaru are in the best position to benefit from the weakening yen, raising their earnings forecasts today as exported goods generate more cash. Mazda hiked its operating profit outlook for the year ending in March to $482 million, which would be its highest since the year ended March 2008. Fuji Heavy, which makes Subaru cars and is seeing strong sales in its biggest market, the United States, lifted its operating profit outlook by 25 billion yen to a record 107 billion yen.... Read More »
Penske bumps up stock dividend 7.7 percent 3:30 pm U.S. ET | Jan. 29, 2013  Publicly traded auto retailer Penske Automotive Group today announced that its board approved a cash dividend of 14 cents per share for the fourth quarter of 2012 -- a boost of 7.7 percent over the previous dividend.... Read More »
AutoTrader says it's business as usual following withdrawal of IPO 4:24 pm U.S. ET | Jan. 28, 2013 AutoTrader Group, the nation's largest online vehicle shopping site, said it would be business as usual for auto dealers following the company's decision Friday to withdraw its $300 million registration for an initial public offering of stock.... Read More »
Daimler stake eyed by China investment fundJan. 7, 2013 16:18 CET  China's sovereign wealth fund may buy a stake in Daimler, a China media outlet reported Monday. The state-owned People's Daily newspaper said on its Web site that China Investment Corporation, the country's investment vehicle, was interested in buying a stake in Daimler ranging from 4 percent to 10 percent.... Read More »
Daimler stake may be acquired by China investment fund 10:18 am U.S. ET | Jan. 7, 2013  China's sovereign wealth fund may buy a stake in Daimler AG, a China media outlet reported today. The state-owned People's Daily newspaper said on its Web site that China Investment Corporation, the country's investment vehicle, was interested in buying a stake in Daimler ranging from 4 to 10 percent.... Read More »
Fiat exercises options to up stake in Chrysler to 65%Jan. 4, 2013 06:01 CET  Fiat plans to boost its stake in Chrysler Group to 65 percent by exercising its option to purchase an additional 3.3 percent from the UAW's retiree health-care fund.... Read More »
Fiat exercises options to increase stake in Chrysler to 65% 5:27 pm U.S. ET | Jan. 3, 2013  Fiat plans to boost its stake in Chrysler Group to 65 percent by exercising its option to purchase an additional 3.3 percent from the UAW's retiree health-care fund.... Read More »
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