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  • Newswire

    UPDATE 2-Magna profit beats estimates on strong North American sales  

    (Adds details on North American results, context.) Nov 5 (Reuters) - Canadian auto parts maker and contract vehicle manufacturer Magna International Inc reported a 47 percent jump in third-quarter earnings that beat analyst expectations Wednesday, boosted by strong demand in North America. Adjusted earnings before interest and taxes in North America, the company's biggest market, grew to $470 million in the quarter through Sept. 30, from $365 million a year earlier. External production sales were up 10 percent at $4.43 billion....More
  • Newswire

    UPDATE 1-Audi profit margin slips as plant costs offset sales gains  

    * Q3 operating profit up 5.5 pct to 1.16 bln euros * Audi backs 8-10 pct FY profit margin range * Audi beats expectations despite ageing line-up - analyst (Releads on profit margin; adds detail, analyst and background) By Andreas Cremer BERLIN, Nov 3 (Reuters) - Audi's profitability slipped during the third quarter as spending on plants and models outweighed gains from record luxury auto sales....More
  • Newswire

    UPDATE 3-Daimler buys into Agusta as motorbike and car tech converge  

    * Daimler's Mercedes-AMG and MV Agusta strike cooperation deal * Agreement focuses on marketing and sales * Partnership gives Mercedes access to lightweight engines * Such engines can be used with electric engines in hybrids (Adds details on motorbike and car technologies, EU emissions and safety rules) By Edward Taylor...More
  • Newswire

    Continental AG CEO Says Audi Recall No Threat to Guidance  

    Earlier this month Audi said it was recalling 850,000 cars worldwide, because potentially faulty software may prevent airbags on its A4 model from deploying....More
  • Newswire

    German Headlight Maker Hella to Raise €278 Million in IPO  

    Hella has placed about 11.1 million shares with institutional investors at €25.00 apiece, in a move it says will open the door to a listing on the Frankfurt Stock Exchange....More
  • Newswire

    Japan's Mazda, Fuji Heavy Post Big Q2 Profit Jump on Weak Yen  

    The second-tier automakers benefit the most among their domestic peers from a cheaper yen because they ship overseas about 80% of their Japan-made vehicles....More
  • Newswire

    Johnson Controls Profit Beats Estimates as Car Seat Demand Rises  

    Sales in the company's automotive experience unit, which makes car seats, floor consoles and overhead systems, rose 3% to $5.3 billion in the fourth quarter. The business accounted for about half of the company's total revenue....More
  • Newswire

    CORRECTED-Fiat Chrysler says to spin off Ferrari, list 10 pct stake  

    (Corrects to show that 80 pct of Ferrari shares will be distributed among FCA shareholders) MILAN, Oct 29 (Reuters) - Fiat Chrysler said on Wednesday it would spin off luxury carmaker Ferrari and list a 10 percent stake on the market as it seeks to raise funding for its ambitious 48-billion euro ($61 billion) growth plan....More
  • Newswire

    UPDATE 2-Ally Financial profit jumps on fewer expected loan losses  

    (Adds comments from Ally executives) By Peter Rudegeair NEW YORK, Oct 29 (Reuters) - Ally Financial Inc, the second largest U.S. auto lender, posted a third-quarter profit on Wednesday as it set aside less money to cover future car loan defaults. The bank believes its loan losses will be lower in the future because U.S. unemployment has been falling fast, and Ally has in recent months attracted a greater number of borrowers with higher credit scores, finance chief Chris Halmy said on a conference call....More
  • Newswire

    AutoNation Posts 15% Third-Quarter Profit  

    The largest dealer group in the U.S. cites strong margins on used cars in reporting quarterly earnings of $0.90 a share, beating analysts' expectations of $0.86 a share....More
  • Newswire

    U.K. Retailer Lookers Hikes 2014 Guidance  

    The new- and used-car dealer says it expects full-year results will beat market expectations largely due to a surge in new-car deliveries in September....More
  • Newswire

    Continental May Target Asia for Next Acquisition  

    Continental's chief financial officer says the German auto-parts and and tire manufacturer may be ready to expand further once it receives regulators' OK for its purchase of U.S.-based Veyance Technologies....More
  • Newswire

    Tesla Lease Plan Allows Return of Model S  

    Tesla CEO Elon Musk says U.S. Bank will offer a lease lowering monthly payments as much as 25%, with the remaining lease obligation waived if the customer isn't satisfied and returns the Model S within three months of purchase....More
  • Newswire

    Asia, North America Bolster Delphi's Q3 Profit  

    The supplier's third-quarter revenue grew 6% in North America, where U.S. auto sales posted their highest sales for the period in 10 years....More
  • Newswire

    Volvo Q3 Profit Rises by Unexpected Margin  

    The truck manufacturer earned SKN2.9 billion million excluding restructuring charges in the quarter compared with SKN2.5 billion a year earlier and well ahead of a mean forecast of SKN2.07 billion in a poll of analysts....More
  • Newswire

    Toyota Sells Portion of Tesla Stake  

    The Japanese automaker does not reveal the amount of the sale but says it will consider possible cooperation with the U.S. electric-vehicle maker in the future....More
  • Newswire

    Hyundai Third-Quarter Profit Tumbles 29%  

    The Korean automaker's third-quarter sales rose 2% but its net profit of 1.52 trillion won fell short of 12 analysts' consensus forecast of 1.79 trillion won....More
  • Newswire

    Fiat Chrysler Automobiles Trading Begins on NYSE  

    Chief Executive Sergio Marchionne, who will ring the closing bell, led both the recovery of the Italian manufacturer and the rescue of the U.S. automaker from bankruptcy....More
  • Newswire

    FCA Could Sell $830 Million in Stock When U.S. Trading Starts  

    CEO Sergio Marchionne says the newly merged automaker could improve its financial position by selling so-called treasury stock, or shares Fiat owns in itself, to U.S. investors....More
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