Tag: Financial Results

Ford Is About to Abandon American Sedans

The Model T, the ’32 deuce coupe, the Thunderbird, the Mustang: For much of its 115-year history, Ford Motor Co. has been synonymous with cars. But now Ford, one of the great engines of 20th Century American industry, is about to do the unthinkable: abandon the American car business almost entirely. Henry Ford and the… Continue reading Ford Is About to Abandon American Sedans

Ford fined $7.6 million by Australian court for mishandling PowerShift complaints

Rod McGuirk, Associated Press Published 8:26 a.m. ET April 26, 2018 | Updated 8:31 a.m. ET April 26, 2018 In this May 23, 2013, file photo, a banner is displayed at a Ford dealership in Sydney. Ford Motor Co.’s Australian subsidiary was fined 10 million Australian dollars ($7.6 million) by an Australian court on Thursday,… Continue reading Ford fined $7.6 million by Australian court for mishandling PowerShift complaints

UPDATE 4-GM results dented by pickup truck changeover

DETROIT (Reuters) – General Motors Co (GM.N) on Thursday reported better-than-expected first-quarter earnings despite a drop in production of high-margin pickup trucks as it gears up for new models, but investors disappointed by the automaker’s lower pre-tax profit sent its shares down more than 2 percent. FILE PHOTO: The GM logo is seen at the… Continue reading UPDATE 4-GM results dented by pickup truck changeover

UPDATE 2-Fiat Chrysler cuts debt by more than expected

MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FCHA.MI) reduced its debts by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. FILE PHOTO: Sergio Marchionne, CEO, Fiat Chrysler Automobiles, speaks with journalists at the North American International Auto Show in Detroit, Michigan, U.S., January… Continue reading UPDATE 2-Fiat Chrysler cuts debt by more than expected

BRIEF-Fiat Chrysler sees double digit profit margins in Latam by 2022

April 26 (Reuters) – Fiat Chrysler CEO Sergio Marchionne says: * LATAM REGION PROFIT MARGINS COULD GET TO DOUBLE DIGITS BY 2022 * DEALING WITH EMEA REGION BIGGEST CHALLENGE FOR NEW BUSINESS PLAN, WILL BE SINGLE BIGGEST DRIVER FOR REPOSITIONING OF GROUP Further company coverage: (Reporting by Milan newsroom) Go to Source Go to Source

BRIEF-Fiat Chrysler CEO says next investment cycle will take time to happen

April 26 (Reuters) – Fiat Chrysler Automobiles CEO Sergio Marchionne: * COMMENTING ON LOWER DEBT IN Q1, SAYS CURRENT INVESTMENT CYCLE COMING TO AN END, NEXT PHASE WILL TAKE TIME TO MATERIALISE Further company coverage: (Reporting by Milan newsroom) Our Standards:The Thomson Reuters Trust Principles. Go to Source

Visteon Announces First-Quarter 2018 Results

View the first-quarter 2018 financial summary infographic Visteon Announces First-Quarter 2018 Results Delivered solid financial performance Sales of $814 million Net income of $65 million Adjusted EBITDA of $104 million Net cash generated from operating activities of $81 million Adjusted free cash flow of $48 million Awarded $1.6 billion in new business Multiple SmartCore™ awards… Continue reading Visteon Announces First-Quarter 2018 Results

Jeep powers Fiat Chrysler quarterly profit jump of 60% to $1.2 billion

Buy Photo Fiat Chrysler Automobiles headquarters, located in Auburn Hills. (Photo: Eric Seals, Detroit Free Press)Buy Photo Fiat Chrysler Automobiles said Thursday it earned a profit of $1.2 billion (1 billion euro) during the first quarter, a nearly 60% gain over the same period a year ago, driven in part by a jump in worldwide Jeep… Continue reading Jeep powers Fiat Chrysler quarterly profit jump of 60% to $1.2 billion

British engine manufacturing dips in March but Q1 output still up 5%

26 April 2018 #SMMT News #UK Manufacturing UK engine production dips -3.7% in March as demand from UK car plants falls for second month. Exports provide counterweight to domestic market challenges, up 4.8% in the month and 12.1% YTD. Q1 demand remains 5.0% above 2017 levels, with more than 780,000 engines made in Britain so… Continue reading British engine manufacturing dips in March but Q1 output still up 5%