Headlines for Thursday, April 26, 2012
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Former GM Europe head Nick Reilly tapped to head MSX's Asia Pacific region
Nick Reilly, who retired as president of GM Europe earlier this year, has been named by MSX International as chairman of its Asia Pacific region. MSX, a technical staffing and dealership process consultancy, expects major growth in Asia. Read More »
Fiat profit driven by Chrysler as revenue plunges 13% in Europe
Fiat's profit more than tripled in the first quarter as demand for Chrysler vehicles in the United States helped offset falling revenues from mass-market car sales in Europe. Earnings before interest, taxes and one-time items surged to 866 million euros ($1. Read More »
Ford first-quarter profit may fall by almost half on overseas losses
Ford may report that first-quarter profit slid by almost half as earnings in North America couldn't overcome losses in the automaker's international operations. Read More »
Bosch says raw material costs hamper 2012 margin goal
Bosch said its first-quarter sales rose 5 percent despite a weak Europe and a cooling global economy but warned it may not reach its 2012 growth target due to high raw material costs and the cost of investments in areas such as electromobility and renewable energy. Read More »
Volkswagen quarterly profit beats expectations on higher sales
Volkswagen Group reported first-quarter profit that beat analysts' estimates on higher demand at its Audi luxury brand. The automaker stuck to its target of matching last year's record operating profit of 11.3 billion euros as higher revenue and auto deliveries offset increased development spending. Read More »
Hyundai profit jumps, defies slowdown in Europe
Hyundai expects to beat an aggressive sales target to raise car sales by 15.4 percent in Europe even though the overall market may fall by 5 percent. The automaker reported quarterly net profit up by almost a third to $2.15 billion. Read More »
Renault first-quarter revenue falls 9% on European decline
Renault said first-quarter revenue fell 9 percent on declining European demand as the car industry struggles with a sluggish economy in the region and overcapacity. Read More »
