Earnings

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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GM shrugs off China worries with $1.1B Q2 profit

7:45 am U.S. ET | July 23, 2015

GM's strong second-quarter results in China seemed to allay investors' concerns that a slowdown in Chinese demand would dent the company's bottom line. The automaker posted net income of $1.1 billion last quarter, fueled by strong demand for pickups and SUVs, and higher pretax profit and margins in China....
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Group 1 profit up 20% on record revenue

7:45 am U.S. ET | July 23, 2015

Group 1 Automotive reported strong second quarter earnings, thanks to rising vehicle sales and firm pricing in the U.S. and the United Kingdom, and improvements in its Brazilian division despite tough economic conditions in that country....
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Gentex Q2 profits slip; revenue rises on higher mirror shipments

3:14 pm U.S. ET | July 23, 2015

Second-quarter profits at Gentex, a mirror, camera and electronic component supplier, dipped 2.8 percent to $74.5 million compared with the year-earlier period....
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Daimler profit jumps 54% on Mercedes growth

July 23, 2015 07:39 CET

Daimler's second-quarter profit jumped 54 percent, the highest for any three-month period at the carmaker, as Mercedes outpaced rival luxury brands in China and new models boosted sales....
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Lithia prepares for next acquisition

1:41 pm U.S. ET | July 22, 2015

Lithia Motors expects its DCH Auto Group division to acquire more stores in a major coastal market in the next few months....
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AutoNation's Q2 net rises 15%; revenue up 9%

8:00 am U.S. ET | July 22, 2015

AutoNation's net income rose 15 percent in the second quarter from the year-earlier period to $115.1 million. Revenue rose 9 percent to $5.22 billion, boosted by higher sales of premium luxury, domestic and import brands, and higher results in new vehicles, used vehicles, parts and service, and finance and insurance operations....
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Lithia's Q2 net jumps 34% on DCH purchase

9:19 am U.S. ET | July 22, 2015

Lithia Motors' second-quarter profit and revenue soared, largely because of its acquisition last year of DCH Auto Group along with improving new- and used-vehicle sales volumes....
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Asbury Q2 net rises 14% on broad revenue gains

10:59 am U.S. ET | July 21, 2015

Asbury Automotive Group Inc.’s net income increased 14 percent in the second quarter to $41.1 million....
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Sonic Automotive's Q2 net drops 45%

11:45 am U.S. ET | July 20, 2015

Sonic Automotive's adjusted net income fell 45 percent in the second quarter, partly because of rising expenses related to the launch of the retailer's EchoPark standalone used-car stores, the company said today. New-vehicle sales and revenue also fell....
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VW, GM shudder as China profit engine sputters

5:47 pm U.S. ET | July 16, 2015

Shock waves from a drop in Chinese car demand are reverberating in Wolfsburg and Detroit, where Volkswagen and GM are feeling the effects of a slowdown in a market that has been their big profit engine. Barclays downgraded GM shares on Thursday, saying it was likely to face the sharpest of the China headwinds among automakers and auto parts makers....
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Brilliance China issues profit warning as slowing economy hits BMW sales

July 13, 2015 15:47 CET

Brilliance China Automotive Holdings, which makes BMW cars in China, issued a profit warning, citing slowing sales in the world's biggest car market....
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Bosch sees automated driving assistance systems generating 1 billion euros in sales

July 13, 2015 14:15 CET

Bosch expects the rapid growth of automated driving assistance systems to earn the supplier 1 billion euros ($1.1 billion) in annual sales by 2016....
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Renault-Nissan savings boosted by new platform

July 10, 2015 14:45 CET

Renault and affiliate Nissan increased annual savings by almost one-third to 3.8 billion euros ($4.2 billion) in part through the shared use of the new CMF platform. The technology underpins models from both carmakers including the latest Qashqai compact SUV from Nissan and Renault's equivalent Kadjar, as well as Renault's updated Espace minivan....
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LUCA CIFERRI

BLOG: Alfa's last chance?

12:01 am U.S. ET | July 8, 2015

Fiat Chrysler CEO Sergio Marchionne hopes that his 5 billion-euro ($5.3 billion) bet on Alfa Romeo will result in eight new models, a sales boost, and an end to financial losses at the brand. If I were Marchionne, I would be very worried about not achieving those ambitious goals – and I'm not alone....
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LUCA CIFERRI

BLOG: Alfa's last chance?

12:01 am U.S. ET | July 8, 2015

Fiat Chrysler CEO Sergio Marchionne hopes that his 5 billion-euro bet on Alfa Romeo will result in eight new models, a sales boost, and an end to financial losses at the brand. If I were Marchionne, I would be very worried about not achieving those ambitious goals – and I'm not alone....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Why Skoda's fast rise helps and hurts parent VW Group

July 6, 2015 06:15 CET

Skoda and VW brand are heading in opposite directions. Skoda's car sales rose to a record last year and its profit margin was 7 percent, far higher than VW's 2.5 percent. Now Skoda's success is attracting the wrong kind of attention at VW Group headquarters in Wolfsburg....
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Honda restates earnings after airbag recall costs increase

6:29 am U.S. ET | June 26, 2015

Honda restated its financial results for the fiscal year ended in March, to account for additional costs to cover an expanded recall of cars equipped with Takata airbags....
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McLaren boosts profit threefold on China sales

June 26, 2015 11:51 CET

McLaren said its 2014 pretax profit rose threefold, helped by rising sales in China. McLaren sold 1,649 cars in 2014, but expects to increase annual production to 4,000 by 2017 as it adds new entry-level models to its lineup....
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GM to take $600 million Q2 charge

12:45 pm U.S. ET | June 25, 2015

General Motors said it will incur a $600 million charge on its second-quarter net profits because of a change in the way it values Venezuelan currency....
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Toyota President Toyoda earns $10.3 million, surpassing Nissan's Ghosn

June 24, 2015 11:14 CET

Toyota President Akio Toyoda became the highest-paid auto executive in Japan last year after dividend payouts pushed his total compensation to $10.3 million, passing Nissan CEO Carlos Ghosn....
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Tesla lines up $500 million line of credit

8:06 pm U.S. ET | June 12, 2015

Electric car maker Tesla Motors said Friday it had entered into a $500 million senior secured line of credit....
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Honda will take further charges of $363 million for Takata airbag recalls

7:14 am U.S. ET | June 12, 2015

Honda said it would restate its financial results for the last business year, to account for $363 million in additional costs to pay for an expanded recall of cars equipped with Takata airbag parts....
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Hyundai, Kia will cut costs as sales, profits decline

June 9, 2015 11:41 CET

Hyundai and Kia will cut costs after first-quarter sales and profit fell at the carmakers. Sales have been hit by weak SUV demand in China and a strong currency, which has helped Japanese rivals gain a competitive edge in overseas markets....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

How Peugeot CEO Picat improved the brand's pricing

June 2, 2015 06:15 CET

Peugeot CEO Maxime Picat has played a key role in PSA's financial turnaround as head of the automaker's largest division by improving the retail pricing of the French brand's vehicles in Europe. Picat told Automotive News Europe how Peugeot plans to keep improving....
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