Earnings

VW should reduce 'huge sums' paid to bosses, activist investor says

Volkswagen Group should reduce the "huge sums of money" paid to executives and any bonuses should be given in shares, activist investor TCI Fund Management said in a letter to the car company seen by Reuters.

CarMax quarterly earnings fall 5.7%

CarMax's quarterly earnings dropped 5.7 percent, as customer demand leaned toward older, less expensive used vehicles, the retailer said. It also said a test to deliver used vehicles to customers' homes rolled into Charlotte, N.C.

GM affirms profit and cost cutting targets

GM affirmed its forecast for 2016 profit of up to $6.00 per share and said it expected to exceed its cost-savings target of $5.5 billion by 2018 as the automaker unveiled a new effort to convince investors of its value.

How stores can plug the money drain

Dealers need to look long and hard at every dollar they spend. Here are some places to begin doing so.

Phony Elon Musk e-mail prompts investigation by oil services firm

Quest Integrity Group said it’s looking into a claim that its finance chief impersonated Elon Musk in an e-mail to get inside information on Tesla, while calling “absurd” the electric car maker’s allegation of an oil industry conspiracy against alternative energy firms.

Adient sees profit rising post-spinoff from Johnson Controls

Adient, the automotive seat maker being spun off from Johnson Controls, forecast adjusted profit of as much as $900 million on $17 billion in sales in the fiscal year starting Oct. 1, its first as a standalone company.

Ford expects investments to cut into 2017 profits, then a rebound in '18

Ford Motor today said it expects profits to decline next year, as it increases investments in autonomous vehicles and new technology, before rebounding in 2018. CEO Mark Fields pitched the automaker to investors and analysts at a daylong conference as a “solid investment with attractive upside.”

Ford will huddle with stock analysts Sept. 14

Ford executives will aim to reassure analysts and skeptical investors on Wednesday about its prospects amid declining profits, stagnating U.S. sales and threats emerging from Silicon Valley.

Ford lowers 2016 pre-tax profit forecast on expanded recall

Ford lowered its 2016 adjusted pre-tax profit forecast to $10.2 billion from the at least $10.8 billion it forecast in July because of a $640 million charge for an expanded vehicle recall, the company said today.

Musk targets naysayers, urges Tesla workers to cut costs

Elon Musk sent an e-mail to Tesla employees urging them to cut costs and deliver "every car we possibly can" in a push to show positive cash flow in the third quarter. The CEO of the EV maker said it would be the company's last opportunity to show improved financial numbers before Tesla tries to raise more money.