More in Management & Strategy

  • 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
  • Nov 4, 2014

    Cheap Gas Worries Auto Industry

    A very senior Toyota executive told me that if gasoline prices are around $3 a gallon in 2018, the company will not be able to meet CAFE regulations. If Toyota can’t meet CAFE targets, then who can?...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

    New Daimler R&D Center Gears Mercedes-Benz to Chinese Tastes  

    Mercedes-Benz parent Daimler, bidding to catch BMW and Audi in Chinese sales, will use the R&D center to more closely tailor Mercedes cars to affluent buyers....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

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