Company Information

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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Group 1 names banker Doyle Arnold to its board

12:51 pm U.S. ET | Feb. 27, 2015
Group 1 Automotive has named a new director to its board seven days after another director resigned. The retailer said today its board of directors appointed Doyle Arnold, 66, as a Class I Director, effective immediately....
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GM retrenches in Thailand after Indonesia retreat

11:24 am U.S. ET | Feb. 27, 2015
A day after announcing it is to stop making GM-branded cars in Indonesia, General Motors today said it would cease production of its Chevrolet Sonic in Thailand by the middle of this year....
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Mazda launches CX-3 small SUV, bets on diesel-only car for Japan

7:30 am U.S. ET | Feb. 27, 2015
The Mazda CX-3 compact crossover went on sale in Japan today with the carmaker offering a 1.5-liter diesel engine as the nameplate's only powerplant. That won't happen in the US, says chief engineer Michio Tomiyama: “In America, it will be only gasoline.”...
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2015 GENEVA AUTO SHOW

Audi says new R8 is its most powerful production car

Feb. 26, 2015 10:54 CET
Audi today released pictures and details of its second-generation R8 supercar. It said the top-range version will be the most powerful and fastest series-production Audi to date....
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U.S. Senate panel OKs auto industry whistleblower incentive

1:18 pm U.S. ET | Feb. 26, 2015
A measure that would offer financial incentives for auto industry employees to expose safety defects won unanimous backing from a US Senate panel today....
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Automakers choose aerospace firm to run Takata airbag tests

10:54 am U.S. ET | Feb. 26, 2015
A consortium of 10 automakers formed to investigate the root cause behind Takata airbag inflator ruptures said today they have selected Orbital ATK to test the supplier's troubled inflators on their behalf....
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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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Porsche hedge-fund lawsuit faces dismissal in Germany

Feb. 26, 2015 15:14 CET
Hedge funds seeking 1.2 billion euros ($1.4 billion) in damages from Porsche SE in Germany over its failed attempt to take over carmaker Volkswagen Group in 2008 will likely have their case dismissed, according to a German judge....
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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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2015 GENEVA AUTO SHOW

VW says new Touran is lighter, roomier, more frugal

Feb. 25, 2015 12:13 CET
VW's new lighter, roomier Touran minivan will offer the biggest luggage compartment in its class, along with new active and passive safety features and seamless connectivity to Apple and Android smartphones, the automaker said....
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2015 GENEVA AUTO SHOW

Aston says Vulcan supercar will cost $2.79 million

Feb. 25, 2015 11:06 CET
Aston Martin said its 800-plus-hp Vulcan will cost 1.8 million pounds ($2.79 million) in the company's UK home market. Aston said the carbon fiber supercar is powered by the most potent iteration to date of the company's naturally aspirated, 7.0-liter V-12 gasoline engine....
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Daimler labor chief queries pace of U.S. expansion

Feb. 25, 2015 10:54 CET
Daimler's plans to expand production in the United States should be recalibrated if the euro remains weak against the dollar, the automaker's top labor chief, Michael Brecht, said....
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U.S. orders Takata to preserve airbag inflators for federal probe

4:39 pm U.S. ET | Feb. 25, 2015
A federal safety regulator on Wednesday ordered troubled Japanese supplier Takata to preserve all airbag inflators removed through a recall process as evidence for a federal investigation and private litigation cases....
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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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VW CEO Winterkorn sees former BMW, Daimler managers as potential successors, report says

Feb. 25, 2015 13:04 CET
Volkswagen Group CEO Martin Winterkorn sees Andreas Renschler and Herbert Diess, who are joining VW from rivals Daimler and BMW, among his potential successors, according to a German magazine....
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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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Group 1 director resigns citing Buffett-Van Tuyl deal

5:27 pm U.S. ET | Feb. 24, 2015
Group 1 Automotive board member Beryl Raff has resigned, citing a potential conflict of interest related to her employer, Berkshire Hathaway, and its pending purchase of the Van Tuyl dealership group. Raff gave up her seat on Feb. 20, Group 1 said in an SEC filing....
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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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Faurecia N.A. boss Heneka to retire March 1; Stidham named new president

3:12 pm U.S. ET | Feb. 24, 2015
Mike Heneka, who led an immense expansion effort in the US as president of Faurecia North America, will retire on March 1, the seating and emissions systems supplier said today....
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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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EPA tweaks fuel economy test to improve accuracy of mpg labels

3:37 pm U.S. ET | Feb. 23, 2015
The EPA today issued updated procedures for a critical part of fuel economy testing that some automakers have struggled with in the last two years. The update covers how automakers should calculate road load values in coast down tests, which measure the rolling resistance and aerodynamic drag of vehicles as they glide from 70 mph to a stop on a straight, flat track....
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