By Nathan Gomes (Reuters) – Canadian auto parts supplier Magna International raised its 2023 profit forecast on Friday, but flagged an impact from the United Auto Workers (UAW) union strike in North America. Magna’s U.S.-listed shares jumped about 14% in morning trade, after the company also beat third-quarter expectations. Suppliers had benefited from an uptick… Continue reading Magna raises 2023 profit forecast, flags impact from UAW strikes
Tag: FCA
China Automotive Systems to Announce Unaudited 2023 Third Quarter Financial Results on November 10, 2023
WUHAN, China, Nov. 3, 2023 /PRNewswire/ — China Automotive Systems, Inc. (Nasdaq: CAAS) (“CAAS” or the “Company”), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the third quarter ended September 30, 2023 on Friday, November 10, 2023, before the market opens. Management will… Continue reading China Automotive Systems to Announce Unaudited 2023 Third Quarter Financial Results on November 10, 2023
Ferrari again raises guidance as customers opt for high-priced, personalized sports cars
The Ferrari original factory entrance. Courtesy: Ferrari Ferrari on Thursday said its third-quarter profit jumped 46% from a year ago as its wealthy customers continued to choose expensive “personalization” options for their new cars. As it did last quarter, Ferrari again boosted its guidance for the full year following the results. Ferrari now expects 2023… Continue reading Ferrari again raises guidance as customers opt for high-priced, personalized sports cars
Cassino rhymes with Turin: Fiat loses its historic building there too. And those looking for buyers also do so for the Maserati of Grugliasco
There is a thin red thread that unites Turin to Cassino. And it’s not (just) a matter of rhyme. There are roads that intertwine, after long parallel paths. And they discover that they have many characteristics in common. The news in these hours is that Stellantis (formerly FCA and formerly Fiat, in the path that… Continue reading Cassino rhymes with Turin: Fiat loses its historic building there too. And those looking for buyers also do so for the Maserati of Grugliasco
ANOTHER RECORD QUARTER SUSTAINING UPWARD REVISED YEAR-END OUTLOOK
Net revenues of Euro 1,544 million, up 23.5% versus prior year, with total shipments of 3,459 units up 8.5% versus Q3 2022 Adjusted EBIT(1) of Euro 423 million, up 41.6% versus prior year, with adjusted EBIT(1) margin of 27.4% Adjusted net profit(1) of Euro 332 million and adjusted diluted EPS(1) at Euro 1.82 Adjusted EBITDA(1)… Continue reading ANOTHER RECORD QUARTER SUSTAINING UPWARD REVISED YEAR-END OUTLOOK
UPDATE 2-Aptiv tops Q3 expectations, warns of $180 mln UAW strike impact
(Adds comparison with analyst estimates, background and details throughout) Nov 2 (Reuters) – Aptiv beat third-quarter estimates on Thursday, on sustained demand for auto parts and supplies, but it warned of a $180 million sales hit in 2023 from the United Auto Workers (UAW) union strike against the Detroit Three automakers. The auto parts supplier… Continue reading UPDATE 2-Aptiv tops Q3 expectations, warns of $180 mln UAW strike impact
Ferrari hybrid sales overtake traditional models
What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well… Continue reading Ferrari hybrid sales overtake traditional models
@Ferrari: ANOTHER RECORD QUARTER SUSTAINING UPWARD REVISED YEAR-END OUTLOOK000335
Net revenues of Euro 1,544 million, up 23.5% versus prior year, with total shipments of 3,459 units up 8.5% versus Q3 2022 Adjusted EBIT(1) of Euro 423 million, up 41.6% versus prior year, with adjusted EBIT(1) margin of 27.4% Adjusted net profit(1) of Euro 332 million and adjusted diluted EPS(1) at Euro 1.82 Adjusted EBITDA(1)… Continue reading @Ferrari: ANOTHER RECORD QUARTER SUSTAINING UPWARD REVISED YEAR-END OUTLOOK000335
Europa Wire: Stellantis Appoints Grégoire Olivier to Lead Liaison Office for Leapmotor000845
Stellantis Appoints Grégoire Olivier to Lead Liaison Office for Leapmotor (IN BRIEF) Stellantis, the multinational automotive corporation, has appointed Grégoire Olivier to head a newly established “liaison office” for Leapmotor, a strategic partner. Reporting directly to Stellantis CEO Carlos Tavares, Olivier will oversee the execution of the partnership, including the creation of a sales joint… Continue reading Europa Wire: Stellantis Appoints Grégoire Olivier to Lead Liaison Office for Leapmotor000845
German Manager Magazine: Ford, Stellantis and GM defeated: What the victory of the US union UAW means for German car manufacturers002849
After six weeks of major strikes and numerous rounds of negotiations, Shawn Fain (54) achieved a breakthrough on Monday: the last car manufacturer in the so-called “Big Three” also gave in to the head of the largest US auto union, United Auto Workers (UAW), in Detroit. With his aggressive course did he ford, Chrysler mother… Continue reading German Manager Magazine: Ford, Stellantis and GM defeated: What the victory of the US union UAW means for German car manufacturers002849