Earnings

Audi fined $927 million by German prosecutors for diesel violations

Oct. 16, 2018 11:26 CET
Audi has been fined 800 million euros ($927.12 million) by German prosecutors for violations tied to V-6 and V-8 diesel engines that did not conform to anti-pollution standards.

BMW warns trade war could hit 2019 results by up to $579M

4:04 pm U.S. ET | Oct. 12, 2018
BMW expects a hit to earnings of up to half a billion euros ($579 million) in 2019 if tariffs between the United States and China remain in place, CFO Nicolas Peter said.

PSA is open to industry tie-ups, CEO Tavares says

Oct. 5, 2018 11:15 CET
PSA is open to new industry tie-ups and is attracting attention from competitors after its lightning turnaround and swift progress in restructuring Opel, CEO Carlos Tavares said.

NICK BUNKLEY

$1 billion tariff hit would mean $1,000 hit to Ford workers

3:58 pm U.S. ET | Sept. 27, 2018
If Ford earns $1 billion less in North America because of tariffs, even though nearly all of the steel it uses is made in the U.S., its profit-sharing payouts to workers would drop by $1,000.

Ford CEO says metal tariffs have eaten $1 billion in profit

9:20 am U.S. ET | Sept. 26, 2018
Ford CEO Jim Hackett encouraged the Trump administration to resolve trade disputes quickly or it could do "more damage" to the company.

CarMax profit and sales rise amid atypical used-vehicle prices

9:32 am U.S. ET | Sept. 26, 2018
Trump administration tax cuts helped boost CarMax' bottom line during the quarter ending Aug. 31. The retailer's gross profit increased 8 percent in the most recent quarter to $650.6 million.

BMW lowers full-year guidance blaming price wars, trade conflicts

Sept. 25, 2018 14:10 CET
BMW said it will not meet its full-year target of achieving a flat pretax profit as trade conflicts and pricing pressure hit sales.

Schaeffler cuts forecast for auto revenue on weaker China, Europe demand

Sept. 19, 2018 14:32 CET
Schaeffler has cut its forecast for revenue growth at its automotive unit to between 4.5 and 5.5 percent from 6 to 7 percent previously, due to weaker demand in China and Europe.

Ferrari CEO cuts profit goal inherited from Marchionne

Sept. 18, 2018 14:48 CET
Ferrari CEO Louis Camilleri has cut a long-term profit goal set by his predecessor Sergio Marchionne, a month after calling it "aspirational." The CEO now expects earnings in a range of 1.8 billion to 2 billion euros in 2022, down from the old target of 2 billion euros.

With turnaround complete, Pininfarina bets on engineering, design

Sept. 18, 2018 06:01 CET
The Italian coachbuilding and design company has a new strategy based on two business areas — engineering and design — that have been split into separate legal entities.

Ferrari investors want assurance on targets and SUV plans

Sept. 17, 2018 14:40 CET
Ferrari's new boss, Louis Camilleri, must convince investors that the automaker can live up to his predecessor Sergio Marchionne's goals of doubling core earnings by 2022 and introducing an SUV to the traditional supercar lineup.

VW CEO warns of higher-than-expected EV costs

Sept. 12, 2018 17:25 CET
VW Group CEO Herbert Diess said the automaker's plan to launch 80 new EVs across its brands including Audi, Porsche, Skoda and Seat, and offer an electrified version of each of its 300 group models will cost more than the $23 billion originally estimated.

VW brand must become significantly more efficient, Diess says

Sept. 12, 2018 12:12 CET
The VW brand needs higher profits to be able to finance its future, VW Group CEO Herbert Diess told the automaker's staff magazine.

NEWS ANALYSIS

WLTP test regime brings sales boost but not higher earnings

Sept. 9, 2018 07:00 CET
European vehicle registrations soared in August as automakers rushed to move stock ahead of the introduction of the WLTP testing regime but high discounts mean many cars were sold with minimal or no profit.

Daimler's Zetsche more cautious on EV forecast

Sept. 5, 2018 10:06 CET
Daimler CEO Dieter Zetsche has dialed back from earlier forecasts for EV sales at the unveiling of the Mercedes EQC SUV, the first model from the company's electric EQ subbrand. Zetsche initially predicted that demand for electric cars would account for up to 25 percent of Daimler's vehicle sales by 2025.

ANDREA MALAN

Moving out of Sergio's shadow

12:01 am U.S. ET | Sept. 4, 2018
Mike Manley took the helm at FCA just four days before the death of former CEO Sergio Marchionne. That same day Manley had to present FCA's disappointing Q2 results and lower annual profit goals.

ANDREA MALAN

Moving out of Sergio's shadow

12:01 am U.S. ET | Sept. 4, 2018
Mike Manley took the helm at Fiat Chrysler just four days before the death of former CEO Sergio Marchionne. That same day Manley had to present FCA's disappointing second-quarter results and lower annual profit goals.

Ford downgraded by Moody's to one level above junk status

4:07 pm U.S. ET | Aug. 29, 2018
Roughly six years after Ford returned to investment-grade and reclaimed its mortgaged Blue Oval, the automaker is once again in danger of plunging into junk bond status.

Aston Martin CEO hopes to complete IPO by end of the year

Aug. 29, 2018 09:08 CET
Aston Martin CEO Andy Palmer says he intends to float the company by the end of the year, completing a turnaround after new models and a sales surge helped the brand to return to profitability following chronic losses.

How PSA turned around Opel, GM's German castoff

Aug. 29, 2018 10:37 CET
In less than a year since buying Opel from GM, PSA CEO Carlos Tavares has taught the German automaker how to profitably produce low-margin cars in a high-cost country.

Ford forms new group to develop more profitable, competitive vehicles

4:00 pm U.S. ET | Aug. 28, 2018
Ford is tapping 47-year-old Jim Baumbick to steer a new Enterprise Product Line Management group, which will study customers and help develop more appealing products as the company overhauls its lineup.

Continental issues second financial warning this year

8:15 am U.S. ET | Aug. 22, 2018
Continental's disappointing sales in China and Europe forced the car-parts maker to cut its revenue forecast. In addition, spending on new technology is weighing on profitability. Shares plunged the most since 2009.

Tesla shares salvage a gain despite deal-funding doubts

2:56 pm U.S. ET | Aug. 20, 2018
Tesla shares, after slumping much of the day toward a fifth straight decline, ended Monday on the plus side despite fresh doubts about Elon Musk’s effort to take the company private.

Ford, Wall Street clash over cherished dividend

7:13 am U.S. ET | Aug. 14, 2018
The debate erupting over Ford's quarterly payout to shareholders is exposing a growing and contentious divide over what needs to be done to fix the ailing automaker.

Maserati will rebound from China blow, top exec says

Aug. 10, 2018 06:01 CET
Maserati will rebound after plunging China sales almost wiped out the brand's profit in the last quarter, Fiat Chrysler CEO Mike Manley said.

 
German automakers' opposition to CO2 goal may backfire

Christiaan Hetzner
4:03 am U.S. ET | Oct. 11 2018

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German-led efforts to water down calls for a 40 percent cut in new-car CO2 emissions by 2030 may hav ...
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Daimler should consider Porsche exec as next finance chief

Christiaan Hetzner
8:29 am U.S. ET | Oct. 9 2018

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Lutz Meschke, Porsche's finance chief has done a remarkable job at the automaker, ensuring double-di ...
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How women are tackling the industry's glass ceiling

Peter Sigal
7:28 am U.S. ET | Oct. 5 2018

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To say that the automotive industry is male-dominated is an understatement. ...
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Why China is by far the world's largest market for full-electric cars

Luca Ciferri
12:01 am U.S. ET | Oct. 5 2018

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China is the largest market for EVs in the world after finding the simple formula for success: Combi ...
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Why Russia's Rolls rival fails to impress

Nick Gibbs
12:01 am U.S. ET | Sept. 28 2018

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Russia's luxury Aurus brand aspires to rival Bentley and Rolls-Royce, not just in Russia but in Euro ...
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Riding in ZF's 'flying billboard'


9:11 am U.S. ET | Sept. 25 2018

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ZF Friedrichshafen began making gears for the Zeppelin airships back in 1900. ...
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Rising Star starts new adventure

Douglas A. Bolduc
5:50 am U.S. ET | Sept. 21 2018

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Former Mazda Europe executive and 2017 Rising Star Christian Ohm is starting a new adventure this month. ...
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Why Aston Martin's CEO expects automaker to be more profitable than Ferrari

Nick Gibbs
4:40 am U.S. ET | Sept. 10 2018

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As Aston Martin plans its London IPO, CEO Andy Palmer believes the company will be more profitable t ...
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Volvo has autonomous vehicle safety covered like a blanket

Douglas A. Bolduc
3:51 am U.S. ET | Sept. 7 2018

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Leave it to Volvo to already be working on a patent for a solution that will keep passengers safe even as they sleep in their self-driving cars. ...
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Tesla readies a surprise in Europe

Jay Ramey
12:01 am U.S. ET | Sept. 4 2018

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Tesla is expected to reveal a new vehicle at the Grand Basel auto show, according to an invitation s ...
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Russia sales rise 6% ahead of VAT increase
Russian new-car sales rose 6 percent in September as consumers moved to purchase vehicles ahead of a ...
 Read More ›
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Spanish sales drop 17% on WLTP disruption
Sales had jumped 49 percent in August as carmakers rushed to clear out vehicle stocks ahead of the S ...
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W. European car sales fall 23% on WLTP
Western European car sales dropped 23 percent in September in the wake of a summer discounting actio ...
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Italy sales plunge 25% on WLTP change
After pushing deliveries up in July and August, when some carmakers had to register older vehicles t ...
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German sales fall 31% on WLTP
German registrations plunged 31 percent last month as sales dried up following the introduction of t ...
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UK sales drop 21% after WLTP introduction
UK new-car registrations dropped 21 percent in September following the introduction of a new testing ...
 Read More ›
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French sales slip 13% in September on WLTP
New-car registrations in France fell 13 percent in September as the market continued to be affected ...
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Renault, VW Group, FCA sales surge 30% in August
Renault, VW Group and Fiat Chrysler led a 30 percent surge in European car sales last month, data fr ...
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W. European sales rise 27% ahead of WLTP changeover
Western European car sales surged 27 percent in August as automakers discounted heavily to clear sto ...
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UK sales increase 23% on WLTP
UK registrations jumped by 23 percent in August as automakers reduced vehicle stocks ahead of the ne ...
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New arrivals from Volvo, Jaguar, BMW propel premium compact SUV sector
Europe's premium compact SUV category is experiencing a breakthrough year in terms of sales as new m ...
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Europe's crossover craze drives market gains
SUVs and crossovers accounted for one-third of European sales through June for the first time. Their ...
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Peugeot, Toyota commit to midsize sector despite slump
Peugeot and Toyota are the latest automakers to commit to Europe's volume midsize segment despite cu ...
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European electric-car sales growth slowed in first half
Sales growth of electric cars slowed across the EU's major markets during the first half because of ...
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CNG car sales set to rise on tougher emissions rules
European demand for cars powered by compressed natural gas has shown signs of life after a half-deca ...
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Europe's small SUV sales projected to 'grow like crazy'
European sales of small SUVs are poised to surge beyond the segment's typically strong growth, as ne ...
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Premium automakers add drivetrains, body styles to stabilize midsize sales
Europe's premium automakers are diversifying drivetrain and body style choices in the core midsize s ...
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Europe's automakers invest in sedans despite SUV surge
Automakers in Europe are continuing to invest in sedans even though the body style has been losing c ...
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Hyundai, Seat add body styles to spice up key sector
Automakers such as Hyundai, Ford, Kia and Seat are experimenting with new compact-car body styles in ...
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Audi's Keogh to succeed Woebcken as CEO of VW Group in North America
Scott Keogh, who has steered Audi to 107 straight months of U.S. sales gains, will become CEO of par ...
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Delphi's Butterworth to lead Melrose's automotive division
Liam Butterworth, who stepped down as head of Delphi last week, has been named CEO of the automotive ...
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Daimler CFO to leave after missing out on top job
Daimler CFO Bodo Uebber will leave the company, marking the first top-level departure after the auto ...
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Chery hires former Mazda Europe, BMW stylist Rice as design chief
Chery has hired Kevin Rice, a former designer at Mazda Europe and BMW, to head styling at the state- ...
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Renault's former No. 2 Pelata picked to steer France into electric, autonomous era
Patrick Pelata, Renault's former chief operating officer, has been tasked by President Emmanuel Macr ...
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Audi CEO Stadler in line for $8 million payout
Audi CEO Rupert Stadler is in line for a 7 million-euro ($8.1 million) payout if he is cleared of in ...
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Fiat Chrysler's new Europe boss has big tasks ahead
Fiat Chrysler's new Europe chief, Pietro Gorlier, must tackle some big problems. ...
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BMW appoints new purchasing chief amid reports of board tension
BMW's promotion of company veteran Andreas Wendt to head of purchasing comes amid reports that board ...
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BMW appoints new purchasing chief amid reports of boardroom tension
BMW's promotion of company veteran Andreas Wendt to head of purchasing comes as reports say boardroo ...
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Daimler names first non-German CEO as Zetsche era ends
Ola Kaellenius will be Daimler's first non-German CEO, taking the post next year. Current chief exec ...
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Audi enters electric era with e-tron crossover
Audi hopes the 400-plus-km range of its new e-tron electric crossover and the vehicle's reproducible ...
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Ferrari Monza supercars will earn $755 million in revenue
Ferrari plans to sell 499 units of the Monza SP1 and SP2 supercars with a 1.6 million euro ($1. ...
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Ferrari's Icona retro line aimed at top of the market
Ferrari's limited-edition, retro-styled Monza supercars are part of the automaker's new Icona line. ...
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Peugeot touts Rifter's space and tech features
Peugeot has designed the new Rifter, the passenger variant of the automaker's small cargo van, to ap ...
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Ferrari seeks profit boost from retro-styled Monza
Ferrari's latest special-edition supercar will be called the Monza and will broaden the automaker's ...
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Seat counts on Tarraco to retain rich customers
Seat expects its new Tarraco flagship SUV to further boost the company's profitability by retaining ...
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Audi packs e-tron EV with interconnected features
The Audi e-tron will offer a 95-kilowatt-hour battery, full-time all-wheel drive and a host of inter ...
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Mercedes gives new GLE semi-autonomous tech
The Mercedes GLE gets semi-autonomous technologies and all-new engines including a plug-in hybrid. ...
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Renault's revived Alpine races to keep pace with demand
Since Renault launched the Alpine A110, the new brand has taken 5,000 reservations, resulting in a 1 ...
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BMW returns to roadster market with Z4
BMW is returning into the roadster market with the revival of the Z4 -- a car whose predecessor help ...
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