Wall Street

GM's Q4 operating profit rises 14% to $1.25 billion

7:32 am U.S. ET | Feb. 14, 2013
General Motors posted strong fourth-quarter profits in North America and Asia but wider losses in Europe while recording its third straight profitable year since exiting bankruptcy.... Read More »

 

GM is confident of Europe turnaround after losses doubled

Feb. 14, 2013 13:32 CET
General Motors reiterated that it expects to break even in Europe by mid-decade after reporting losses in the region that more than doubled. GM said the market will fall further in 2013.... 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 »

 

Fiat wants to quickly buy UAW trust's stake in Chrysler

3:30 pm U.S. ET | Jan. 30, 2013
Fiat-Chrysler CEO Sergio Marchionne said the Italian automaker would like to see the minority holder of U.S. affiliate Chrysler Group LLC sell out as soon as possible.... Read More »

 

Ford posts $1.6B quarterly profit, predicts wider losses in Europe

7:05 am U.S. ET | Jan. 29, 2013
Ford posted fourth-quarter net income of $1.6 billion, carrying the company to its fourth straight full-year profit. Excluding a large year-earlier extraordinary gain, net in the latest quarter rose 55 percent, powered by strong results in North America. European pretax losses of $732 million dragged down quarterly profits.... 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 »

 

Penske, Group 1, Lithia shares rise to records after analyst report

4:55 pm U.S. ET | Jan. 23, 2013
Penske Automotive Group, Group 1 Automotive, and Lithia Motors reached record prices after a KeyBanc Capital Markets report about the auto retailers cited a "confident" outlook on vehicle sales in the United States. Penske gained 4.2 percent to $32.32 at the close in New York, the highest since its 1996 initial public offering.... 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 »

 

GM could face $918 million hit from bankruptcy-related lawsuit

5:43 pm U.S. ET | Jan. 3, 2013
A federal bankruptcy judge could soon rule on whether the 2009 government-led restructuring of General Motors improperly favored hedge funds, and an adverse ruling could cost the automaker nearly $1 billion.... 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 »

 

Porsche wins dismissal of hedge fund lawsuit over VW

Dec. 27, 2012 19:42 CET
Porsche Automobil Holding SE won the dismissal of a New York lawsuit by 26 hedge funds that accused the German automaker of causing more than $1 billion of losses by cornering the market in Volkswagen AG shares.... Read More »

 

Porsche wins dismissal of hedge fund lawsuit over VW

1:42 pm U.S. ET | Dec. 27, 2012
Porsche Automobil Holding SE won the dismissal of a New York lawsuit by 26 hedge funds that accused the German automaker of causing more than $1 billion of losses by cornering the market in Volkswagen AG shares.... Read More »

 

GREG MIGLIORE

GM seeks credibility and closure

2:28 pm U.S. ET | Dec. 19, 2012
Credibility. It's a precious commodity in the car business, something that's hard fought, easily lost and takes years to rebuild. And General Motors has just earned back a little bit more of its historic standing.... Read More »

 

Tesla was cash flow positive last week, CEO Musk says

1:18 pm U.S. ET | Dec. 4, 2012
Tesla Motors, the maker of electric vehicles led by billionaire Elon Musk, was cash flow positive last week, the CEO said Monday in a posting on Twitter.... Read More »

 

Toyota agrees to $25.5 million U.S. investor lawsuit settlement

10:49 pm U.S. ET | Nov. 13, 2012
Toyota agreed on Tuesday to pay $25.5 million to settle a shareholder class action lawsuit in federal court accusing the company of not disclosing safety and quality issues related to recalls and reports of unintended vehicle acceleration in 2010.... Read More »

 

Magna Q3 profit jumps; founder Stronach quits board

9:16 am U.S. ET | Nov. 8, 2012
Diversified Canadian auto supplier Magna International Inc. said third-quarter profit nearly quadrupled on gains related to its purchase of the minority stake in its electric car business. The company also said its founder Frank Stronach had stepped down from the board, effective immediately, to focus on activities outside the automotive industry.... Read More »

 

Tesla stock rises on bullish outlook, but posts wider Q3 loss

7:34 am U.S. ET | Nov. 5, 2012
Electric car maker Tesla Motors said it was on track to reach an annual production rate of 20,000 for its Model S sedan in December, sending its shares up nearly 9 percent.... Read More »

 

GM secures $11 billion line of credit

9:06 am U.S. ET | Nov. 5, 2012
General Motors said it clinched an $11 billion revolving credit facility, further strengthening the largest U.S. automaker's balance sheet.... Read More »

 

GM Q3 profit falls 14% on weak Europe, higher N.A. costs

7:35 am U.S. ET | Oct. 31, 2012
General Motors posted $1.48 billion in net profits during the third quarter despite wider losses in Europe, where the company now vows to break even by the middle of this decade. GM's net income fell 14 percent for the July-September period, even though production and pricing rose at its two largest divisions: North America and international, which includes China and other Asian markets. Europe was a big reason for the decline in third-quarter earnings.... Read More »

 

GM sees end to European losses by 2015

Oct. 31, 2012 13:35 CET
General Motors said it was targeting a return to break-even levels in its European operations by mid-decade as the automaker reported that third-quarter net profit slid 14 percent, hurt by wider losses in Europe, higher costs in North America and a less-profitable mix of sales in several markets.... Read More »

 

Ford posts Q3 net of $1.63 billion; record N.A. profits offset European losses

7:08 am U.S. ET | Oct. 30, 2012
Ford posted a $1.63 billion third-quarter net profit as record high earnings in North America more than offset mounting losses in Europe. Pretax operating profit in North America increased to $2.33 billion, while pre-tax losses in Europe widened to $468 million from $306 million a year earlier.... Read More »

 

Johnson Controls reports narrow loss on one-time charges

10:28 am U.S. ET | Oct. 30, 2012
Johnson Controls posted a narrow quarterly loss on weaker sales in its key automotive business in Europe and one-time restructuring and accounting charges, the company said today.... Read More »

 

Ford posts Q3 net of $1.63 billion; record N.A. profits offset European losses

Oct. 30, 2012 13:08 CET
Ford posted a $1.63 billion third-quarter net profit, nearly matching its year-earlier total, as record high profits in North America more than offset mounting losses in Europe. Pretax operating profit rose to a record $2.16 billion from $1.94 billion a year earlier, the company said in a statement today.... Read More »

 

Kia stock falls despite 28% gain in quarterly net income

11:53 am U.S. ET | Oct. 26, 2012
Kia Motors reported a 28 percent gain in quarterly profits, but the results were lower than expected because of South Korean labor protests. Kia stock fell the most in five months in Seoul trading.... Read More »

 

Tenneco stock up 14% after Q3 profits rise

1:19 pm U.S. ET | Oct. 25, 2012
Tenneco reported strong quarterly adjusted profits, sending the emission- and ride-control parts maker's share price up more than 14 percent, but it signaled that it will sustain losses in Europe due to slow auto sales there.... Read More »