Company Information

Ford Q2 net soars 44% for strongest auto profit in 15 years

7:00 am U.S. ET | July 28, 2015

Ford's second-quarter net income increased 44 percent from a year earlier to $1.9 billion, marking the best quarterly profit from its automotive business since 2000. The automaker posted a record quarterly profit in North America, despite lackluster sales in the U.S., as the redesigned F-150 and other vehicles commanded higher prices....
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GM plans $5B vehicle family for emerging markets

12:01 am U.S. ET | July 28, 2015

GM plans to spend $5 billion over the next several years to develop a new range of technology-rich small cars, based on a common architecture, that will be built and sold under the Chevrolet name in China, Brazil, India, Mexico and other emerging markets....
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Daimler, Renault-Nissan detail plans for Mexico JV plant

1:44 pm U.S. ET | July 28, 2015

Daimler and the Renault-Nissan Alliance said today their new plant for Mercedes-Benz and Infiniti cars in Aguascalientes, Mexico, will employ some 3,600 staff and have an initial production capacity of more than 230,000 vehicles....
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Ally's Q2 auto lending flat despite GM pullback

1:12 pm U.S. ET | July 28, 2015

Ally Financial's second-quarter auto lending originations declined just 1 percent from a year earlier to $10.8 billion, despite a sharp drop in lease originations for General Motors vehicles, the company said today....
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Pininfarina, Mahindra will resume sale talks in September, report says

July 28, 2015 16:43 CET

Talks on the sale of indebted car designer Pininfarina to India's Mahindra will resume after the summer after the parties failed to strike a deal in July, sources told Reuters....
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Aston Martin looks at more than 10 sites for new factory

July 28, 2015 06:01 CET

Aston Martin is reviewing more than 10 sites in Europe, the U.S. and other global locations for a new factory to build its first crossover....
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Daimler in talks on truck partnership, Iran Khodro says

July 28, 2015 12:01 CET

Daimler is exploring a partnership with Iran Khodro as it weighs a return to Iran's market for trucks, vans and buses, the Iranian automaker's CEO said. European carmakers are planning their return to Iran after the country agreed to curb its nuclear program in return for the lifting of international sanctions that have crippled its economy....
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VW's MAN truck unit expects profit drop on restructuring costs

July 28, 2015 11:27 CET

Volkswagen Group's MAN truck unit expects costs to reorganize its European truck and bus unit will significantly lower operating profit this year, as a recession in Brazil also hits sales....
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Sonic President Scott Smith named CEO

12:10 pm U.S. ET | July 27, 2015

Sonic Automotive is shuffling some executive positions, naming its co-founder Scott Smith to the post of CEO, effective immediately, the company said in a statement today....
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Ford wins court appeal over apartheid claims

2:05 pm U.S. ET | July 27, 2015

Victims of apartheid in South Africa cannot pursue lawsuits seeking to hold Ford liable for conducting business that helped perpetuate the practice decades ago, a federal appeals court ruled today....
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GM fund approves 3 more serious-injury claims

10:43 am U.S. ET | July 27, 2015

Three more serious injuries have been linked to General Motors defective ignition switches, the office of attorney Kenneth Feinberg said....
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As dealership sales climb, margins slide

12:01 am U.S. ET | July 27, 2015

On the surface, second-quarter results from five publicly traded dealership groups last week were solid. But behind the gains lurked a disturbing trend: At all five, profit margins on new-vehicle sales fell....
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Valeo raises profit forecast, shrugs off China slowdown

July 27, 2015 10:54 CET

Valeo raised its profit outlook today, playing down the impact of a Chinese market slowdown after a record first-half order intake boosted by demand for driving-assistance and fuel-saving technologies....
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Mitsubishi throws in towel on fading era

12:01 am U.S. ET | July 27, 2015

Mitsubishi Motors Corp.'s decision last week to sell its only U.S. assembly plant illustrates an emerging new-world order in car production. Mitsubishi's Normal, Ill., plant was part of a wave of Asian-brand joint-venture auto plants in North America that opened in the 1980s and 1990s to do whatever was necessary to crack the all-important U.S. retail market....
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TrueCar works on relationships

12:01 am U.S. ET | July 27, 2015

TrueCar's dealer relations ranks are getting a tune-up this summer, with a longtime industry insider leaving and two new execs joining the company. Separately, the company said problems converting enough shoppers into buyers hurt its second-quarter results....
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GM profit weathers China slowdown

12:01 am U.S. ET | July 27, 2015

General Motors' second-quarter results offered a sigh of relief - at least temporarily - to investors and other market watchers worried about slowing growth in China....
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NEWS ANALYSIS

Chasing profits, JCI jumps out of seats

12:01 am U.S. ET | July 27, 2015

Johnson Controls' spinoff of its $22 billion seats-and-interiors unit, announced last week, underlines an uncomfortable truth for suppliers: Sometimes it's not enough to be No. 1. Seats don't generate the profits that they once did, and that's due to a new trend in purchasing....
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Energy prices, flood waters are no match for Group 1

12:01 am U.S. ET | July 27, 2015

From the outside, one might assume Houston's Group 1 would be hurting. But its adjusted net income jumped 20 percent to a second-quarter record of $47.9 million, as revenue climbed 8.6 percent to $2.73 billion....
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Barra pressed for cost cuts, other moves to help GM hit China target

6:29 am U.S. ET | July 24, 2015

GM Chief Executive Mary Barra has been pushing executives in China since the first signs of trouble in the market early this year to find ways to hit the company's target of delivering 9 to 10 percent profit margins, despite falling car prices and weak economic growth....
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JCI plans spin-off of auto seating, interiors units

9:30 am U.S. ET | July 24, 2015

Johnson Controls plans to spin off its automotive seating and interiors businesses, which will operate as an independent, publicly traded company. Bruce McDonald, currently JCI's vice chairman and executive vice president, will become chairman and CEO of the new company....
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Tenneco Q2 profits fall 3.7%

11:00 am U.S. ET | July 24, 2015

Tenneco’s second-quarter profits dipped 3.7 percent to $78 million from the year-earlier period. Revenue, adjusted for the unfavorable impact of currency exchange rates, increased 3 percent to $2.31 billion....
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JCI profit rises on improved margins

10:20 am U.S. ET | July 24, 2015

Johnson Controls, the largest U.S. auto parts supplier, reported higher quarterly net profit on fatter margins across the company's main three business segments....
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Ferrari stock faces soaring Testarossa prices for investor favor

6:19 am U.S. ET | July 24, 2015

Ferrari's upcoming stock listing may struggle for investor attention with competitors in its own ranks. Buying one of the Italian supercars, like a Testarossa, has generated gains that are hard to beat....
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Infiniti Q30 will be powered by Mercedes engines

July 24, 2015 06:01 CET

Infiniti's Q30 compact car will be powered by two gasoline Mercedes engines, likely the 1.6-liter and 2.0-liter units used in the A-class compact car, a source said. The Q30 is based on Mercedes's MFA front-wheel-drive compact architecture that also underpins the A class....
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Faurecia accelerates margin target as first-half earnings surge

July 24, 2015 10:47 CET

Faurecia's first-half earnings surged 40 percent as sales growth outpaced auto-market expansion in Europe and North America. The supplier now plans to reach an operating margin of 4.5 percent to 5 percent in the second half rather than in 2016....
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