Currency

GKN confident as auto-unit growth offsets currency hit

July 29, 2014 13:50 CET
GKN says it is confident regarding the rest of 2014 after first-half profit at its car parts supply division rose 6 percent, helping to offset the effects of a currency hit....
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Hyundai's Q2 profit falls 7% on currency strength, weak global demand

July 24, 2014 11:34 CET
Hyundai's second-quarter profit fell 7 percent as a strong won, weakening global sales and incentives in the U.S. took their toll on earnings. To combat a strong currency, the automaker will now consider adding production overseas....
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Hyundai Q2 profit dips 7% on strengthening currency

6:33 am U.S. ET | July 24, 2014
Hyundai's net profit fell the most in five quarters, hit by the local currency's strength, and said it may make more vehicles overseas as it braces for a tough second half with the won still strong....
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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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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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Nissan earnings boosted by North America gains

5:34 am U.S. ET | May 12, 2014
Net income at Nissan rose 5 percent in the January-March quarter, as higher sales and surging North American operating profit fueled earnings....
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Toyota's yen windfalls are drying up

12:01 am U.S. ET | May 12, 2014
For years, Toyota Motor Corp. lost money as the Japanese yen climbed higher against the dollar and other currencies. It responded by off-shoring production and positioning its U.S. operations as an export base immune from the yen's swings. But now that the yen is on the wane again, Toyota is learning the hard way that yen hedging cuts both ways....
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Ford suspends vehicle output in Venezuela

8:56 pm U.S. ET | May 5, 2014
CARACAS (Reuters) -- Ford Motor Co. was forced to halt vehicle assembly operations in Venezuela on Monday due to a lack of foreign currency to import parts for assembly, workers at its plant said.
...
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PSA revenue rises 2% on China, Europe recovery

April 25, 2014 08:39 CET
PSA reported a 2 percent gain in first-quarter revenue as a recovery in its home region and expansion in China boosted deliveries....
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Renault freezes plans for Russian van production on weak ruble

April 24, 2014 13:35 CET
Renault has frozen plans to build vans with Russian truckmaker ZIL due to a weakening of the ruble. The company had planned to build Renault and Fiat vans with ZIL in Moscow....
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Sogefi posts loss on restructuring costs, currency woes

April 24, 2014 11:52 CET
Sogefi reported a net loss of 6.3 million euros for the first quarter after results were hit by restructuring charges and the negative effect of exchange rates....
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Chrysler to take $130 million charge in first quarter due to Venezuela

4:25 pm U.S. ET | April 11, 2014
A change in the way it measures currency in Venezuela will cause Fiat Chrysler Automobile's Chrysler Group LLC unit to take a $130 million charge in its first quarter, Chrysler said today in a filing with federal regulators....
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Ford plans $350 million charge on drop in Venezuelan currency

6:19 pm U.S. ET | April 1, 2014
Ford, which warned in December about volatility in its Venezuelan operations, will take a charge of about $350 million in the first quarter for a change in how it values the South American nation's currency....
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Renault least vulnerable European automaker in Russian turmoil

March 24, 2014 13:52 CET
Russia's leading carmaker, Renault-Nissan-AvtoVAZ, is best placed to withstand the effects of a weakening ruble from the fallout of the country's annexation of Crimea, analysts say....
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Ruble slide offers mixed blessings for Russia's car industry

March 22, 2014 06:01 CET
The damage to consumer confidence in Russia from a plunge in the value of the ruble could be offset for local carmakers as they become more competitive against foreign brands....
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BMW's finance chief sees risks to group's Russia business

March 20, 2014 11:58 CET
BMW CFO Friedrich Eichiner said any worsening of the crisis between Ukraine and Russia would jeopardize the company's outlook....
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UK's GKN sees more growth this year, warns of dollar impact

Feb. 26, 2014 13:22 CET
UK supplier GKN says profits rose 17 percent last year on strong demand for car parts. The company now sees its auto business outpacing an anticipated 3 percent expansion in the market this year....
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Ford's Hinrichs: Toyota, Japanese unfairly aided by currency manipulation

Feb. 7, 2014 06:01 CET
Joe Hinrichs, president of Ford's Americas unit, took Japan and specifically Toyota to task for benefiting unfairly from currency manipulation....
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Ford's Hinrichs: Toyota, Japanese unfairly aided by currency manipulation

2:34 pm U.S. ET | Feb. 6, 2014
Joe Hinrichs, president of Ford's Americas unit, took Japan and specifically Toyota to task today for benefiting unfairly from currency manipulation....
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Mitsubishi boosts profit on weaker yen

Feb. 5, 2014 08:41 CET
Mitsubishi swung to a net profit in the October-December quarter and reported a fourfold increase in operating profit, as a weaker yen bolstered results....
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Kia profit hit as stronger won hurts car exports

Jan. 24, 2014 06:01 CET
Kia posted fourth-quarter profit that missed estimates as a stronger won cut exports....
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Kia's fourth-quarter profits rise 29%

8:34 pm U.S. ET | Jan. 23, 2014
Kia's fourth-quarter profit rose 29 percent, beating analysts' estimates, after sales of pricier models increased at home. The higher sales of Sportage and Soul vehicles are a bright spot in a year in which a stronger won damped revenue in the United States, Kia's biggest market, and the company agreed to settle lawsuits for overstating fuel-economy ratings....
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Toyota, Honda, Nissan set N.A. output records as yen weakens

3:19 pm U.S. ET | Jan. 21, 2014
Toyota, Honda and Nissan set production records at their North American auto-assembly plants last year even as the yen weakened against the dollar for a second consecutive year....
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2014 AUTOMOTIVE NEWS WORLD CONGRESS

Volvo could bring China-built vehicles to U.S. 'fairly quickly'

Jan. 21, 2014 06:01 CET
Volvo chief Hakan Samuelsson says cars built in China could soon be exported to the United States. The CEO says he doesn't expect consumers there to react negatively to the notion of China-built Volvos....
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U.S. automakers call for currency rule in Pacific trade pact

5:28 pm U.S. ET | Jan. 9, 2014
American automakers on Thursday pushed for rules against currency manipulation to be included in an ambitious trade pact being negotiated between the United States and 11 other Pacific Rim countries....
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