Company Information
Ford brand sedans to be nixed in N.A. under deeper cost targets
April 25Ford plans to stop selling all Ford brand sedans in North America and is nearly doubling its cost-cutting target from a plan laid out only six months ago. The automaker said it will either fix or eliminate unprofitable global operations.
AutoNation names 1st academic to board
April 25AutoNation added the first academic and second woman to its board composed entirely of outside directors under CEO Mike Jackson.
Penske Q1 net soars behind broad gains
April 25First-quarter net income at Penske Automotive Group soared 31 percent to $108 million, powered by profit gains across all areas of the auto retailer's business.
Bosch seeks to restore diesel reputation with new staff rules
April 25Bosch said it would teach 70,000 staff a new code of conduct by the end of this year in an effort to change the "mindset" of the supplier. Prosecutors are probing several automakers and Bosch for their suspected roles in using an engine control unit to cheat exhaust emissions tests.
Lithia Q1 net rises 2.6 percent
April 25Lithia Motors' first-quarter net grew on strong service and parts and finance results, despite a drop in new-vehicle sales and narrowing gross profit margins.
BMW will export iX3 electric SUV to Europe, U.S. from China
April 25BMW will export its first full-electric SUV, called the iX3, to global markets after it goes into production in 2020 at its joint-venture plant in China.
Calif. pension plan urged to divest automakers that skirt emissions rules
April 24A group of congressional Democrats representing California urged the state's pension system to divest stock from any automaker that follows the Trump administration's plan to relax light-vehicle emissions standards.
Audi recalling 1.16 million vehicles worldwide over coolant pump issue
April 24Audi said it was recalling more than a million vehicles worldwide because of concerns that an electric coolant pump could overheat or short-circuit from moisture within the pump and pose a fire risk.
Asbury's Q1 net jumps 18 percent
April 24Asbury Automotive's first-quarter profits jumped 18 percent, driven by F&I and parts and service gains, on a revenue increase approaching 4 percent.
Melrose gets green light from UK for GKN takeover
April 24UK Business Minister Greg Clark said there were no national security grounds to intervene in turnaround specialist Melrose's takeover of British auto supplier GKN.
Mercedes seeks to keep China luxury lead with stretched A class
April 24Mercedes aims to widen the brand's appeal to Chinese buyers with a long-wheelbase version of its latest A class.
PSA first-quarter revenue jumps 42% on Opel-Vauxhall acquisition
April 24PSA revenue rose 42 percent to 18 billion euros ($22 billion) in the first quarter, lifted by its acquisition of Opel-Vauxhall last year.
