Ford Q3 profit drops 56% as North America slipsThu, 27, Oct 2016
CEO Mark Fields defended Ford's outlook of a “much weaker than normal” second half of the year as the company reported a 56 percent decline in third-quarter net income to $957 million today. “I would call our approach realism -- not optimism, not pessimism” Fields said in a call with financial analysts today. “It's realism.”
BorgWarner Q3 net income drops on one-time chargesThu, 27, Oct 2016
Turbocharger and emissions systems supplier BorgWarner Inc. reported today a 47 percent decline in third-quarter net profit as one-time costs offset sales gains.
Visteon Q3 net income grows to $28 millionThu, 27, Oct 2016
Automotive electronics supplier Visteon today reported improved third-quarter earnings despite reduced production volumes, with net income rising to $28 million from $5 million last year.
Federal-Mogul posts Q3 gains as Icahn offer remains pendingWed, 26, Oct 2016
Federal-Mogul the diversified auto supplier that billionaire investor Carl Icahn is aiming to take private, today said it posted $15 million in third-quarter net income, up from a $63 million loss a year earlier.
Penske Automotive Q3 net rises 1.1% to $88.5 millionWed, 26, Oct 2016
Penske Automotive's third-quarter net income rose 1.1 percent as gains in gross profit margins in the U.S. for new and used vehicles were offset by foreign exchange-related losses and lower global profit margins for vehicle sales.
Continental tried to buy stake in Osram, report saysFri, 21, Oct 2016
Continental tried to buy Siemens' stake in lighting group Osram in the summer but was turned down, a German business magazine reported, citing company sources.
Tesla's credit lines may help Musk delay tapping Wall StreetThu, 13, Oct 2016
Tesla has $1.3 billion in credit lines that it can tap to keep the company hobbling along into next year, when analysts expect Tesla will need to raise as much as $2.5 billion to produce the mass-market Model 3 sedan, build out a Gigafactory battery plant and keep cash-burning SolarCity going.
Musk says Tesla, SolarCity need not raise cash this yearMon, 10, Oct 2016
Tesla Motors and SolarCity don’t need to raise cash this quarter as the two companies prepare for a merger, billionaire Elon Musk said.
Musk's Wall Street cheerleaders drop their pom-poms over TeslaFri, 07, Oct 2016
Elon Musk is losing some of his Wall Street cheerleaders just when he needs them the most. Goldman Sachs, one of Musk's top bankers, has reversed course and cut its recommendation on the entrepreneur's flagship Tesla Motors, following a similar move by another big booster, Morgan Stanley.
Fiat Chrysler to face U.S. shareholder claims over safety complianceWed, 05, Oct 2016
A federal judge today said Fiat Chrysler Automobiles must face part of a lawsuit accusing the automaker of defrauding U.S. shareholders by making false and misleading statements about its ability to comply with vehicle safety laws.
GM, despite record profits, struggles with Wall Street cynicismWed, 05, Oct 2016
GM generates $1 billion in pretax profit a month. Yet the stock market seems unimpressed, assigning the company a market value of just $50 billion. It's one of the more vexing questions Dan Ammann, the company's president, faces every day.