Earnings

Sonic Q1 revenue up, net income down on costs for new initiatives

9:06 am U.S. ET | April 21, 2015

Sonic Automotive reported a nearly 5 percent revenue increase in the first quarter, but a drop in net income mostly because of costs associated with its One Sonic-One Experience no-haggle program and EchoPark, its new used-car business....
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Asbury's first quarter net income rises 14%

9:06 am U.S. ET | April 21, 2015

Asbury Automotive Group's net income jumped 14 percent in the first quarter of 2015 from the year-earlier period, to $35.9 million, as all parts of its business experienced profit gains....
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GM counting on high-speed Internet services in car to drive profits

2:32 pm U.S. ET | April 17, 2015

Buyers of GM vehicles will increasingly be able to use in-car mobile broadband systems to book hotel rooms, cut deals on driver insurance, pay for data usage and conduct a host of other transactions. And each time they do, GM will get a small cut from the seller....
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Faurecia sales boosted by European car demand, weaker euro

April 15, 2015 18:46 CET

Faurecia said its first-quarter sales rose 14 percent, helped by currency tailwinds and a recovery in European vehicle demand....
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Opel CEO affirms goal of posting Europe profit in 2016

April 9, 2015 17:05 CET

Opel CEO Karl-Thomas Neumann affirmed that the European arm of General Motors will return to profit in 2016, as continued growth in southern and central Europe would help offset a slump in Russia sales....
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Fiat Chrysler plans $3 billion bond offering to refinance debt

5:08 am U.S. ET | April 9, 2015

Fiat Chrysler plans to issue $3 billion in bonds that may be used to refinance debt at the former Chrysler Group, Bloomberg reported. The offering would be the company's second debt deal since Fiat's merger with Chrysler....
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Opel CEO affirms goal of posting a profit in Europe in 2016

11:05 am U.S. ET | April 9, 2015

Opel CEO Karl-Thomas Neumann affirmed that the European arm of General Motors will return to profit in 2016, as continued growth in southern or central Europe would help offset a slump in Russia sales....
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Fiat Chrysler plans $3 billion bond offering to refinance debt, report says

April 9, 2015 11:08 CET

Fiat Chrysler plans to issue $3 billion in bonds that may be used to refinance debt at the former Chrysler Group, Bloomberg reported. The offering would be the company's second debt deal since Fiat's merger with Chrysler....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Aston CEO calls crossover, Daimler deal keys to revival

April 9, 2015 06:15 CET

Aston Martin will develop two new platforms, add a crossover, refresh its supercar lineup and leverage its technology alliance with Daimler to help make the brand consistently profitable. CEO Andy Palmer outlined his plans in an interview with Automotive News Europe....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

PSA CEO reveals the next steps in automaker's revival

April 7, 2015 06:15 CET

PSA/Peugeot-Citroen CEO Carlos Tavares discussed the challenges the automaker needs to overcome to complete its turnaround, including boosting scale, improving net pricing and giving customers options they really value....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Bold moves, positive results highlight Tavares' 1st year as PSA boss

April 6, 2015 06:15 CET

PSA CEO Carlos Tavares has succeeded in putting the automaker back on track a year after its 3 billion euro bailout. He has returned PSA to France’s benchmark CAC-40 stock index and implemented cost cuts that helped the automobile division record its first operating profit in three years in 2014....
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CarMax will step up store-opening pace

3:46 pm U.S. ET | April 2, 2015

CarMax said will open 13 to 16 new used-only stores each of the next three fiscal years, starting with the one that began March 1. That is up from the 10 to 15 stores a year it has opened since the recession....
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AutoNation's March sales rise 5 percent

3:54 pm U.S. ET | April 2, 2015

AutoNation today said its new-vehicle retail sales rose 5 percent in March from a year earlier to 30,107 units. On a same-store basis, new retail sales rose 3 percent....
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GM expects to earn $350 million over 3 years from 4G technology in cars

11:34 am U.S. ET | April 1, 2015

General Motors will generate $350 million in improved profit over the three years to 2018 from its rollout of 4G LTE mobile broadband in its cars and trucks, CFO Chuck Stevens said today....
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Schaeffler's 2014 profit rises by more than half

March 26, 2015 13:09 CET

German part supplier Schaeffler said its operating profit jumped by more than 50 percent to 1.52 billion euros ($1.67 billion) in 2014 because of robust demand for cars in U.S. and China. Its operating margin climbed to 12.6 percent in 2014 from 9.0 percent in 2013....
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PSA may hit operating margin target earlier than planned, CFO says

March 23, 2015 13:15 CET

PSA could reach its main recovery target of achieving a 2 percent operating margin before a 2018 goal, finance chief Jean-Baptiste de Chatillon said. The carmaker's shares today rejoined the benchmark CAC-40 index after a two-and-a-half-year absence....
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AutoCanada rises on dealership purchases, sounds caution for '15

1:26 pm U.S. ET | March 20, 2015

AutoCanada, the nation’s largest publicly traded dealership group, said earnings and revenue soared in the latest quarter and the full year, driven by the addition of 17 stores....
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BMW tones down profit-growth forecast as investment costs remain high

March 18, 2015 12:16 CET

BMW said it expects sales volume and profit will slow this year because of aging models and higher investment costs for new technologies....
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VW finance arm eyes record profit in 2015, CEO says

March 18, 2015 12:34 CET

Volkswagen's finance division is targeting 2015 operating profit that will not be below last year's record result of 1.7 billion euros ($1.80 billion), its CEO Frank Witter said....
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Porsche SE faces payment of 428 million euros in tax arrears

March 18, 2015 12:10 CET

Porsche SE is facing the payment of 428 million euros ($454 million) in tax arrears this year dating back to the period when the company tried to take over Volkswagen. The payment may shrink Porsche SE's net liquidity and cap dividend payouts, finance chief Hans Dieter Poetsch said....
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Skoda profit jumps 46% in 2014 on record sales

March 16, 2015 14:39 CET

Skoda raised net profit by 46 percent to 665 million euros in 2014 after selling more than 1 million cars for the first time in its history....
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VW identifies half of planned 5 billion euros in cuts

March 12, 2015 11:50 CET

VW Group has identified cost cuts worth about half of the planned 5 billion euro ($5.29 billion) target at its core passenger-car brand. VW could discontinue its three-door Polo as part of the savings program, CEO Martin Winterkorn said, a move that would save millions....
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BMW profit rises 14% on X5, 2-series demand

March 12, 2015 13:08 CET

BMW said profit increased 14 percent to 9.12 billion euros ($9.66 billion) last year as the X5 SUV and 2-series Active Tourer compact minivan helped drive record sales. The automaker's profit margin widened to 9.6 percent of revenue from 9.4 percent in 2013....
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NEWS ANALYSIS

GM capital plan may delay credit rating upgrade

4:11 pm U.S. ET | March 11, 2015

General Motors' decision this week to give back up to $10 billion to shareholders over the next two years will likely delay one of its important goals: achieving a top-tier credit rating that would benefit its growing auto finance unit....
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Audi sees lower profitability as it invests to boost sales

March 10, 2015 12:31 CET

Audi is targeting another year of record car sales in 2015, but said profitability could slip further amid spending on technology, foreign expansion and plans to increase its model range to 60 vehicles by 2020....
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