Wall StreetMarchionne said to be finalizing Fiat-Chrysler refinancingJune 14, 2013 15:47 CET  Fiat-Chrysler CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies.... Read More »
AutoNation's largest shareholder reduces stake to 32% 12:40 pm U.S. ET | June 14, 2013  AutoNation's largest shareholder, Edward Lampert, has reduced his stake in the nation's biggest dealership group to meet client redemptions from his main hedge fund.... Read More »
Marchionne said to be finalizing Fiat-Chrysler refinancing deals 9:47 am U.S. ET | June 14, 2013  Chrysler-Fiat CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies, people familiar with the matter told Bloomberg.... Read More »
Nexteer Automotive launches up to $325 million stock offer 11:54 am U.S. ET | June 14, 2013  Nexteer Automotive, the world's fifth-largest supplier of steering systems, today began launching an initial public stock offering worth up to $325 million in Hong Kong, braving a volatile local stock market and tepid demand for new stock listings here.... Read More »
GM targeting investment grade rating 'within a year' 2:14 pm U.S. ET | June 12, 2013  General Motors said it is targeting an investment grade credit rating "within the year" as the Detroit automaker works to distance itself from the stigma of its 2009 bankruptcy.... Read More »
GM share sale highlights U.S. auto revival as an economic pillar 9:13 am U.S. ET | June 6, 2013  The Obama administration's decision to sell more of its stake in General Motors underscores the resurgence of a domestic auto industry that emerged from near-collapse to become a pillar of economic growth.... Read More »
U.S. Treasury to sell 30 million more GM shares 9:31 am U.S. ET | June 5, 2013  The federal Treasury Department said it plans to sell 30 million additional shares of General Motors common stock in an offering that will also include 20 million shares from the UAW union's GM retiree health-care trust.... Read More »
'Affordable' Tesla to arrive in late 2016 9:20 pm U.S. ET | June 4, 2013  Tesla Motors will launch its smaller electric sedan in late 2016, with a range of at least 200 miles and a price point "half" of the flagship Model S, Tesla CEO Elon Musk said.... Read More »
GM's inclusion on the S&P 500 marks another step in recovery 10:08 am U.S. ET | June 4, 2013  General Motors, four years after being kicked out of the Standard & Poor's 500 Index, will heal another wound of the financial crisis when it rejoins the benchmark gauge for American equities this week.... Read More »
Nexteer plans to launch $400 million IPO this week, report says 10:07 am U.S. ET | June 3, 2013  Nexteer Automotive, the Michigan-based auto supplier controlled by China's biggest aerospace company, plans to start gauging demand for an initial share sale this week, two people with knowledge of the matter told Bloomberg.... Read More »
Federal-Mogul names new co-CEO, unveils stock rights offer 3:29 pm U.S. ET | May 29, 2013  Federal-Mogul, the auto supplier controlled by longtime Wall Street deal maker Carl Icahn, has named a new co-CEO who also will head the company's aftermarket product operations. The company also announced that it would launch a $500 million stock rights offering to refinance debt.... Read More »
Tesla stock surges past $100 for first time 9:34 am U.S. ET | May 28, 2013  Tesla Motors stock surged past the $100-a-share level for the first time as the company prepares to announce an expansion of its charger network for its vehicles this week.... 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 »
Toyota to post around $13 billion annual operating profit, report says 9:45 am U.S. ET | May 6, 2013  Toyota is expected to post operating profit of more than $13 billion for the year ended March, significantly more than what has been forecasted, the Nikkei business daily reported today.... Read More »
U.S. Treasury plans to sell remaining GM stake 2:31 pm U.S. ET | May 6, 2013  The Treasury Department said today it will begin another round of sales of the GM stock it acquired during the government's bailout of the automaker.... Read More »
Group 1 operating income rises on higher new-vehicle sales 10:40 am U.S. ET | May 2, 2013  Higher new-vehicle sales and increased gross profits in all business segments drove Group 1 Automotive's operating income higher during the first quarter of 2012, but net income dropped 4 percent.... Read More »
GM redemption seen culminating in return to S&P 500 Index 11:45 am U.S. ET | May 1, 2013  As the Treasury sells off its shares of General Motors, the automaker is likely to return to the Standard & Poor's 500 Index in the next year, passing another milestone in its redemption. Getting back into the S&P 500 would help U.S. taxpayers expedite their exit from the company, likely boost GM stock in the short term and help support the shares in the long run as well.... Read More »
Tesla probed over stock trading plans, report says 12:35 pm U.S. ET | April 30, 2013  Federal prosecutors have sent subpoenas to Tesla Motors asking for documents and e-mails relating to a trading plan that allows executives to sell company stock, The Wall Street Journal said today, citing a person familiar with the probe.... Read More »
Penske Q1 net income jumps 23% on higher new- and used-vehicle sales 11:14 am U.S. ET | April 29, 2013  Stronger new- and used-vehicle sales for Penske Automotive Group pushed up net income 23 percent in the first quarter on an 8 percent rise in revenue from the year-earlier period, the company said today.... Read More »
Fiat first-quarter profit falls on Chrysler earnings dropApril 29, 2013 14:41 CET  Fiat Group confirmed its 2013 financial targets despite lower first-quarter profits at Chrysler and continued losses in Europe.... Read More »
Chrysler profit tumbles on costs of product launches 8:41 am U.S. ET | April 29, 2013  Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit.... Read More »
Johnson Controls posts lower quarterly profit on weak auto output in EuropeApril 26, 2013 06:01 CET  Johnson Controls, citing weaker automotive production in Europe, posted lower profits during its most recent quarter, but reaffirmed its financial outlook for the year.... Read More »
Fiat may have to pay union trust fund more for Chrysler shares, judge suggestsApril 25, 2013 17:53 CET  Fiat may have to pay more than its $139.7 million offer for Chrysler Group shares that the automaker wants to buy from the United Auto Workers' retiree health-care trust, a judge suggested.... Read More »
Fiat may have to pay UAW trust fund more for Chrysler shares, judge suggests 11:53 am U.S. ET | April 25, 2013  Fiat may have to pay more than its original offer of about $140 million for Chrysler Group shares being bought from the UAW's retiree health-care trust, a Delaware judge suggested in court today.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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