GM makes progress on Europe turnaroundMay 3, 2013 10:40 CET  GM is making progress in restructuring its money-losing Opel/Vauxhall unit in Europe, but the automaker has a long way to go, analysts say. GM's first-quarter pretax loss in Europe narrowed while rival Ford's loss widened sharply.... Read More »
Continental sticks to 2013 targets on raw material cost dropMay 3, 2013 09:04 CET  Continental reiterated targets for 2013 as declining raw material costs and new products are offsetting a sixth year of contraction in its home region's car market.... Read More »
ADESA parent KAR's Q1 profit rose 12% to $29 million 10:09 am U.S. ET | May 2, 2013 KAR Auction Services, parent company of vehicle-auction company ADESA, said its first-quarter net income rose 12 percent to $29 million on a 10 percent increase in revenue, to $558 million.... Read More »
GM's Q1 net falls 14% on N.A. decline 7:30 am U.S. ET | May 2, 2013  General Motors' first quarter net profit dropped 14 percent, to $865 million, as profit in North America slipped and losses in Europe narrowed.... Read More »
Group 1 operating income rises on higher new-vehicle sales 10:40 am U.S. ET | May 2, 2013  Higher new-vehicle sales and increased gross profits in all business segments drove Group 1 Automotive's operating income higher during the first quarter of 2012, but net income dropped 4 percent.... Read More »
GM's Europe loss narrows; overall Q1 profit drops 14%May 2, 2013 13:32 CET  GM's first-quarter net profit dropped 14 percent as profits in North America slipped and losses in Europe eased. European losses narrowed because of cost cuts and strong demand for new models, GM CEO Dan Akerson said.... Read More »
BMW Q1 profit drops as European plunge hits pricingMay 2, 2013 08:04 CET  BMW reported a 4.5 percent drop in first-quarter profit as the plunging European market pushed car prices lower. The company maintained its target for 2013 pretax profit on the same level as last year as rising demand in China and the U.S. helps to offset Europe's weak market... Read More »
Delphi Q1 profit drops as sales fall in Europe, N.A.May 2, 2013 06:01 CET  Delphi Automotive reported a 20 percent drop in first-quarter profit as lower sales in Europe and North America more than offset gains in Asia and South America.... Read More »
GM redemption seen culminating in return to S&P 500 Index 11:45 am U.S. ET | May 1, 2013  As the Treasury sells off its shares of General Motors, the automaker is likely to return to the Standard & Poor's 500 Index in the next year, passing another milestone in its redemption. Getting back into the S&P 500 would help U.S. taxpayers expedite their exit from the company, likely boost GM stock in the short term and help support the shares in the long run as well.... Read More »
Delphi Q1 profit drops as sales fall in Europe, N.A. 10:10 am U.S. ET | May 1, 2013  Delphi Automotive reported a 20 percent drop in first-quarter profit as lower sales in Europe and North America more than offset gains in Asia and South America.... Read More »
Ally Q1 profits boosted by auto finance business, one-time gains 9:52 am U.S. ET | May 1, 2013  Ally Financial said its first-quarter net income more than doubled from a year ago to $1.1 billion, driven largely by a one-time gain from the sale of Ally’s Canadian operations and higher profits in its auto finance business.... Read More »
TRW Q1 profits fall 21%, but Europe troubles mitigatedMay 1, 2013 06:01 CET  Safety and braking components supplier TRW Automotive's first-quarter profits fell, but results from China and elsewhere helped mitigate reduced business in the troubled European market.... Read More »
Chrysler's outlook raised to positive from stable by S&P 6:39 pm U.S. ET | April 30, 2013  Chrysler Group may get an upgrade in its credit rating in the next 12 months, said Standard and Poor's, which raised Chrysler's outlook Tuesday to "positive" from "stable." S&P changed its outlook on the company to positive even after Chrysler posted a 65-percent drop in first quarter profit.... Read More »
Sirius wants to expand auto offerings to telematics, new CEO says 2:51 pm U.S. ET | April 30, 2013  The new CEO of satellite radio company Sirius XM Radio thinks radio is a good business, but for the future he said opportunities may lie with in-car services like automated safety.... Read More »
TRW Q1 profits fall 21%, but Europe troubles mitigated 11:56 am U.S. ET | April 30, 2013  Safety and braking components supplier TRW Automotive's first-quarter profits fell, but results from China and elsewhere helped mitigate reduced business in the troubled European market.... Read More »
VW eyes China growth to ease pain in EuropeApril 30, 2013 06:01 CET  Volkswagen expects sales in China this year to outpace total sales volume in the market, which the carmaker believes will increase 6 percent to 8 percent. In Europe, the automaker remained resilient to a recession in its home region as high-end sales from its newly-intergrated Porsche unit help offset a drop in deliveries at the carmaker's core mass-market brand.... Read More »
Audi sticks with medium-term margin outlookApril 30, 2013 14:04 CET  Audi will stick with its outlook for a medium-term operating margin of 8-10 percent after it reported an easing of the first-quarter margin to 11.1 percent from 11.4 percent the year before.... Read More »
Penske Q1 net income jumps 23% on higher new- and used-vehicle sales 11:14 am U.S. ET | April 29, 2013  Stronger new- and used-vehicle sales for Penske Automotive Group pushed up net income 23 percent in the first quarter on an 8 percent rise in revenue from the year-earlier period, the company said today.... Read More »
Fiat first-quarter profit falls on Chrysler earnings dropApril 29, 2013 14:41 CET  Fiat Group confirmed its 2013 financial targets despite lower first-quarter profits at Chrysler and continued losses in Europe.... Read More »
Chrysler profit tumbles on costs of product launches 8:41 am U.S. ET | April 29, 2013  Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit.... Read More »
Tenneco's Q1 profits rise as revenue falls slightly 2:36 pm U.S. ET | April 29, 2013 Tenneco, the supplier of emission-control and ride-control systems, today reported higher first-quarter profits. Adjusted net income during the first three months of the year was $44 million, or 72 cents per diluted share, up 7 percent from adjusted net income of $41 million, or 66 cents per diluted share, the company said.... Read More »
VW brand bears brunt of Europe slump as Q1 profit halvesApril 29, 2013 11:49 CET  First-quarter profit at Volkswagen Group's core brand almost halved as automakers in Europe battle the region's protracted slump in demand with deeper discounts.... Read More »
As first-qtr. profit soars, Ford adds production 12:01 am U.S. ET | April 29, 2013 Ford Motor Co. posted record profit in North America in the first quarter and is pumping up production for higher revenues.... Read More »
Aisin Seiki's net jumps 40 percent as production rebounds in Japan, elsewhere 4:09 pm U.S. ET | April 26, 2013 Aisin Seiki's net income jumped 40 percent to 77.5 billion yen ($823.1 million), as revenue rose 10 percent to $26.87 billion, in the fiscal year ended March 31, the parts supplier said today.... Read More »
Denso says quarterly profit drops 5.3%, annual results improve 12:01 am U.S. ET | April 26, 2013  Toyota affiliate Denso, the world's second-largest auto parts supplier, booked operating profit of 74 billion yen ($748 million) for the January-March quarter, down 5 percent from a year earlier when it was still recovering from an earthquake that disrupted production.... Read More »
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