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  • 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
  • Newswire

    Mitsubishi Motors Sticks to FY Profit Guidance, Uncertain on Sales  

    The company says it is too early to say whether weaker-than-expected sales volumes in Japan, Russia and Thailand can be compensated by the better-than-expected sales volumes in North America, Middle East and Europe....More
  • Newswire

    Fiat Says Merger With Chrysler Official Oct. 12  

    Shares in the newly formed Fiat Chrysler Automobiles will start trading on the New York Stock Exchange on Oct. 13....More
  • Newswire

    Aston Martin Sees Signs of Recovery as 2013 Loss Drops  

    The sports car maker says its 2013 pretax loss was $41 million, down one-third from year-earlier, on a 12.6% increase in revenue while sales totaled 4,200 units, up from 3,800 in 2012....More
  • Newswire

    French Automaker PSA Open to Partnerships, CEO Says  

    Chief Executive Carlos Tavares says the automaker will consider potential partnerships, but only after it completes what he estimates will be two to three more years of restructuring....More
  • Newswire

    Philippines May Earmark $600 Million to Grow Auto Sector  

    The government subsidies are under discussion in a country where vehicle ownership is the lowest among Southeast Asia's five biggest economies....More
  • Newswire

    Panasonic Buying 49% Stake in Spanish Auto Parts Maker  

    The Japanese electronics giant says its "capital and business alliance" with Ficosa International will allow the companies to jointy develop high-tech automotive mirrors designed to enhance safety....More
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