Earnings
Ford's $28 billion cash pile doesn't buy love on Wall Street
Oct. 19Ford may be both flush with cash and struggling with its stock price, but new CEO Jim Hackett is in no rush to buy Wall Street's love. The carmaker's $28 billion cash pile isn't “burning a hole in our pocket,” Hackett said earlier this month.
Ford says recall of F-150, Super Duty pickups to cost $267 million in Q4
Oct. 18Ford recalled 1.3 million 2015-17 F-150 pickups and 2017 Super Duty pickups to fix faulty side door latches. The action will cost the automaker $267 million in the fourth quarter.
Sonic issues earnings warning because of hurricanes
Oct. 16Sonic Automotive lowered its estimated third-quarter results because of devastating storm damage, but kept its full-year forecast unchanged.
Ford's Hackett calls for sweeping changes in vehicle development, investment
Oct. 3Under new CEO Jim Hackett, Ford plans to redirect a third of the company's internal-combustion engine outlays to vehicle electrification and cut costs by $14 billion.
'Numbers guy' Lohscheller must return Opel to profitability under PSA
June 13Opel's new CEO, Michael Lohscheller, faces the tough challenge of bringing sustainable profitability to the automaker after its sale to PSA Group by General Motors is completed.
CarMax Q2 profit rises despite hit from Harvey
Sept. 22CarMax's net income rose 12 percent in its fiscal second quarter as the largest used-vehicle retailer in the U.S. saw only a "modest" loss of sales from Hurricane Harvey.
Hyundai in tailspin as China sales drop with missile crisis
Sept. 12Chinese buyers are shunning Hyundai because of political tensions over a missile-defense system, with sales plunging 64 percent in the aftermath.
BMW's Krueger sticks to profit-margin target even with EV push
Sept. 12BMW Group CEO Harald Krueger says the company plans to stick to a goal for an 8 to 10 percent return on sales at its automotive division, even with the arrival of less profitable electric cars.
Mercedes will cut costs to fund EVs
Sept. 11Mercedes says the launch of its EQ electric vehicle family could mean it may not meet its profit margin target in the midterm. The automaker plans a $4.8 billion cost-cutting program to counteract the expected pressure on earnings.
Opel Q2 loss widened to $250 million, sources say
Sept. 2Opel, which GM has sold to PSA, widened its losses in the second quarter to around $250 million, sources told Automobilwoche.
Top fund investors pumped brakes on fast-rising Tesla stock
Aug. 18Top Tesla investors Fidelity Investments and T. Rowe Price cut their holdings in the second quarter and indicated they were taking profits from the electric car maker stock.
Geely earnings double on cars co-developed with Volvo
Aug. 16Geely Automobile Holdings said that first-half profit more than doubled, scoring its fastest earnings growth in eight years as cars designed with Volvo won over domestic consumers.
