Hot Topics
Earnings
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PSA will close randd site to reduce spending
… car-assembly plant next year when the Citroen C3 subcompact model that it builds is replaced. PSA is struggling to restore earnings as the European auto market reaches a two-decade low. The company posted a 576 million euro operating loss last year and …
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Are worries over slower, smaller tax refunds overblown?
Some lenders complained in first-quarter earnings reports about smaller and later tax refunds. IRS refund statistics weren't down by much, but any change is important because …
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Schaeffler confirms 2013 outlook, net debt
… statement today. Revenue for the first quarter declined by 3.6 percent to 2.8 billion euros ($3.6 billion), while earnings before interest and taxes fell to 355 million. Schaeffler, which shoulders net debt of about 6.8 billion euros, recently …
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German brands enjoy sales boom in Korea
… the expense of Seoul-based Hyundai and Kia, which count on sales of luxury vehicles in their home market for much of their earnings . "It's definitely something Hyundai and Kia are worried about, and they should be worried," said Lee Sang Hyun, an …
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CFO says GM streamlining is 'on its way'
… of its information technology systems from outside vendors and overhauling an accounting system that once required repeated earnings restatements. More important, he says, GM is catching up with other automakers in its use of global platforms and parts …
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Hyundai, Kia losing ground to luxury imports at home as tariffs fall
… the expense of Seoul-based Hyundai and Kia, which count on sales of luxury vehicles in their home market for much of their earnings . "It's definitely something Hyundai and Kia are worried about, and they should be worried," said Lee Sang Hyun, an …
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New S class key to boosting Mercedes profit margins, China sales
… percent for the A-class hatchback, so boosting sales of the brand's flagship model would have an outsize impact on Mercedes earnings . To tap this potential, China is key. McKinsey forecasts sales growth of upscale vehicles in the country will average 12 …
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New S class key to boosting Mercedes profit margins, China sales
… percent for the A-class hatchback, so boosting sales of the brand's flagship model would have an outsize impact on Mercedes earnings . To tap this potential, China is key. McKinsey forecasts sales growth of upscale vehicles in the country will average 12 …
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Honda returns to F1 racing as engine supplier
… Racing costs The automaker, which is forecasting the highest annual profit since 2008 as a weaker yen boosts overseas earnings , said the F1 racing series provides feedback for improving cars it manufactures in volume. The company had said in 2008 it …
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Continental kept in the dark over Schaeffler's decision to end investment agreement
… May 2014. "We cannot say what will happen after that date," Continental chairman Wolfgang Reitzle said. Schaeffler's earnings before interest and tax (EBIT) last year fell 16.3 percent to 1.4 billion euros on plunging auto demand in Europe, where …
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Ally clears barrier for IPO with plan to resolve mortgage claims
… very focused on what's the exit strategy for the U.S. Treasury," Carpenter said May 1 during the firm's quarterly earnings review. "If I had to put money on it right now, I would say the IPO is the best alternative." Capital plan To get there …
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BMW's Reithofer tells Germans to embrace EVs
… the end of the decade. The additional spending may hold back earnings growth, even as sales advance. "Being the spearhead of change ..... this year will match 2012's figure of 7.82 billion euros. Earnings before interest and taxes for the auto division are forecast …
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BMW seeks third straight sales record as new models offset weak Europe
… luxury-auto sales. The additional spending may hold back earnings growth, even as sales advance. "Anyone who wishes to shape ..... 2012's figure of 7.82 billion euros ($10.2 billion). Earnings before interest and taxes for the auto division are forecast …
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Nissan debuts new corporate logo
… backdrop for CEO Carlos Ghosn at the company's full-year earnings announcement. Ghosn's blue-gray PowerPoint presentation ..... staid corporate logo will be used in companywide releases, earnings events and shareholder meetings, but not at auto shows. Nissan …
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Akerson sees GM profits streaming from in-vehicle connections
… with as much as 35 percent profit margin, according to an estimate by Citi. GM's companywide first-quarter margin on earnings before interest and taxes was 4.8 percent, the company said May 2. GM was ahead of its time when it began placing OnStar …
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BMW invests 3 billion euros in EVs, report says
… billion euros through the end of this year on the development of its electric vehicle lineup, funding the "i" subbrand with earnings from its booming business in China, a German business newspaper reported. Handelsblatt said today the sum, which covers …
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Toyota: N.A. to fuel biggest profits in 6 years
… economy is in very good shape," Executive Vice President Nobuyori Kodaira said while releasing the company's fiscal year earnings . "The market is now showing an improvement." North American sales surged 32 percent to 2.5 million units in the fiscal …
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Musk's magic touch on Wall St.
… Wall Street analysts are forward-looking, taking potential earnings into account when valuing stock. And they have been influenced ..... since Jan. 1. It didn't hurt that on the same day Tesla's earnings were released Tesla's Model S sports car received the highest …
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Falling yen lifts outlook for Japanese
… its net income will jump 42 percent to $14.55 billion in the current fiscal year. All of Japan's automakers have built earnings forecast on the assumption that the yen will grow stronger. And they all -- except Suzuki Motor Corp. -- forecast at least …
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Magna hikes full-year forecast on strong Q1 profit
… increased revenue from Europe, where its sales rose even though the industry overall has been hurt by lower production. Net earnings climbed to $369 million, or $1.57 per share, in the quarter ended March 31 from $343 million, or $1.46 per share …
