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  • Newswire

    Tesla Hikes Share Offering to $642.5 Million  

    The electric-vehicle maker says it will offer 2.7 million shares valued at $642.5 million, nearly 30% higher than the $500 million sale announced Thursday....More
  • Newswire

    UPDATE 3-Musk to invest $20 mln in Tesla's $500 mln share sale  

    (Adds Breakingviews link) By Sagarika Jaisinghani and Arunima Banerjee Aug 13 (Reuters) - Tesla Motors Inc CEO Elon Musk will invest $20 million as part of the company's $500 million stock offering in a show of confidence at a time when the electric car maker is burning through cash. Tesla said on Thursday it would use the proceeds from the sale to help fund its upcoming Model 3 project and its battery gigafactory in Nevada. (http://bit.ly/1TuIQJa)...More
  • Newswire

    Tesla Founder Musk Promises Profitability by 2016  

    The electric-vehicle maker's CEO has set a first-quarter 2016 deadline, less than a year and a half from now, for Tesla to become profitable enough to expand both its product lineup and its electric-power-storage enterprise....More
  • Newswire

    UPDATE 2-Tata Motors cuts sales, production targets for JLR in China  

    * To cut price of China-made Range Rover Evoque by 5-6 pct * JLR inventory in China up to 10,000 vehicles * Strong JLR sales, mainly in China, has long helped Tata (Adds CFO comments, details on China car market) By Aman Shah and Aditi Shah MUMBAI/NEW DELHI, Aug 7 (Reuters) - India's Tata Motors Ltd has cut prices, sales and production targets at its luxury Jaguar Land Rover (JLR) arm in China, a top executive said, as it struggles with high inventories in a slowing market....More
  • Newswire

    Parts Maker Magna Reports Q2 Earnings Drop  

    The Canadian supplier raised its full-year operating margin forecast despite slightly lower second-quarter earnings brought on by a strong U.S. dollar....More
  • Aug 6, 2015
    blog

    The World According to Tesla 2

    If you work at Tesla, which is valued at about $25 billion and sells just one very good luxury car, the possibilities must seem limitless....More
  • Newswire

    Seatbelt Maker Takata Manages Q1 Net Profit  

    The supplier, whose potentially defective airbag inflators prompted a global recall of millions of vehicles, says the quarterly improvement resulted from higher sales in the U.S., India and Southeast Asia....More
  • Newswire

    UPDATE 3-BMW says worsening Chinese market could hit year's profit forecast  

    * BMW says change to outlook cannot be ruled out * Q2 EBIT down 3 pct in line with forecasts * Shares down 1.8 percent (Adds CFO comment on China outlook) By Edward Taylor FRANKFURT, Aug 4 (Reuters) - BMW, the world's biggest luxury carmaker, warned on Tuesday that its financial forecasts for this year could be at risk from any further deterioration in the Chinese market, where its sales have begun to fall for the first time in a decade....More
  • Newswire

    UPDATE 3-Volkswagen lowers sales goal as China growth slows down  

    * FY sales forecast lowered to flat from a moderate rise * VW expects China sales growth to grind to halt * Operating profit rises in Q2 * Keeps FY profit, revenue forecasts * Grappling with "fierce competition" -CFO (Adds China sales and profit estimate, analyst comment) By Andreas Cremer...More
  • Newswire

    GM Investing $1 Billion in India  

    The $1 billion investment is designed to turn GM India into a global auto-production and export hub serving rapidly growing emerging markets....More
  • Newswire

    Nissan Reports 58% Jump in Q1 Operating Profit  

    The Japanese automaker credits the quarterly result to a weak yen that raised the value of earnings outside Japan, the only region that failed to post significant sales gains....More
  • Newswire

    Sirius XM Hikes 2015 U.S. Revenue, Subscription Forecasts  

    The satellite-radio service says robust U.S. auto sales prompted it to raise its full-year subscriber forecast from 1.2 million to 1.4 million, and boost its revenue forecast from $4.5 million to $4.47 million....More
  • Newswire

    Valeo Boosts 2015 Profit Forecast  

    The French automotive supplier revises its full-year profit forecast after first-half net income soared 34% and sales climbed 15% to beat analysts' estimates....More
  • Newswire

    Johnson Controls Reports Q3 Profit Up  

    The largest automotive supplier in the U.S. says third-quarter net income more than doubled from the prior year, from $230 million to $503 million....More
  • Newswire

    Report Says VW Preparing to Slash China Spending  

    A German magazine says the automaker, whose profits at its Chinese joint ventures are running 25% below year-ago, is preparing a cost-saving program in response to slumping demand....More
  • Newswire

    Supplier Faurecia Raises 2015 Profit Margin  

    The French automotive supplier, citing sales growth in Europe and North America and a weak euro, says first-half net income nearly doubled from like-2014....More
  • Newswire

    CORRECTED-UPDATE 1-GM earnings more than doubles on U.S. truck demand; shares jump  

    (In paragraph nine, removes full dollar amount for net income before one-time charges. The per-share amount is correct, at $1.29.) By Joseph White and Bernie Woodall DETROIT, July 23 (Reuters) - General Motors Co shares surged in premarket trading Thursday after the automaker reported adjusted net income that more than doubled in the second quarter, driven by North American truck sales and continued strength in China....More
  • Newswire

    UPDATE 2-Luxury sportscar maker Ferrari files for New York listing  

    * To sell 10 pct of Ferrari to fund FCA's ambitious growth plan * Marchionne says Ferrari should be worth "at least" $11 bln * To be floated in New York, may seek secondary listing in Milan * To include loyalty scheme that will benefit Agnelli family (Recasts, adds details) By Agnieszka Flak...More
  • Newswire

    Toyota Forming Investment Fund to Pursue Innovation  

    The automaker will team with a Japanese bank and asset-management company to invest in advanced-technology projects including autonomous driving, robotics and artificial intelligence....More
  • Newswire

    China Slowdown Costly to VW, GM  

    Both Volkswagen and General Motors have scaled back their 2015 China sales forecasts, which likely would be accompanied by declines in profitability and cash flow....More
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