Latest financial news and analysis articles 
Coverage of company financial results and analysis of company financial performance
ITALY: Marchionne confirms Chrysler refinancing reports
14 June 2013
Fiat chief Sergio Marchionne has confirmed reports that US unit Chrysler is working on a US$3bn loan refinancing in order to lower its borrowing costs and make it possible for the Italian company to access its cash flow.
US: Navistar posts Q2 loss of US$374m
12 June 2013
Navistar International has announced a second quarter 2013 net loss of US$374m, or $4.65 per share, compared to a second quarter 2012 net loss of $172m ($2.50).
US: Court dismisses Spyker Saab claim against GM
11 June 2013
Spyker's US$3bn (GBP1.9bn) lawsuit accusing General Motors of trying to bankrupt Saab has been dismissed by a US federal court judge who said GM had the right to block the sale of a company using its technology.
BELGIUM: US Ambassador praises GM, Treasury sells $1bn automaker's stock
7 June 2013
General Motors has won praise from a senior US politician in Brussels as US Treasury officials say they will sell 30m of the automaker's shares worth around US$1.03bn.
ITALY: No new Fiat debt needed for Chrysler buyout
7 June 2013
Fiat does not need to take on any new debt to buy out the rest of Chrysler, chief executive Sergio Marchionne has said, rebuffing concerns about the cost of the looming deal.
GERMANY: VW expected to take full control at MAN
6 June 2013
Volkswagen is set to gain full strategic and financial control over truckmaker MAN, in which it has a 75% stake. VW has tabled a motion for the truckmaker’s annual shareholders meeting next week to "dominate" MAN and pool both companies' cashflows.
ITALY: Fiat seeks to re-finance ahead of Chrysler bid
5 June 2013
Fiat has launched the first part of a three-stage, multibillion euro finance package, aimed at refinancing loans taken out by the Italian carmaker and Chrysler ahead of the purchase of the rest of the US automaker, banking sources told Reuters.
US: Government, UAW trust, to sell off more GM shares
5 June 2013
The US Treasury said it would begin another round of sales of General Motors shares acquired during the government's bailout of the US auto sector.
ITALY: Agnelli family prepares to retain large Fiat stake
4 June 2013
Italy's Agnelli family has raised up to EUR2bn from the disposal of a stake in a Swiss product inspection company, a move that analysts say suggests it plans to preserve its large shareholding in Fiat.
UK: New product manager for the just-auto/QUBE team
3 June 2013
Calum MacRae, once head of PwC Autofacts, has joined just-auto to head up the development of its rapidly evolving QUBE automotive intelligence service.
THE WEEK THAT WAS: Flying the profits flag
31 May 2013
Quarterly and other results to the thirty-oneth of March continued to dribble in this week so let's start by hoisting the Union Jack, drum roll, trumpet blast, and highlight Jaguar Land Rover's 11% full fiscal year profit hike.
INDONESIA: Astra International cuts stake in Otoparts
31 May 2013
Indonesia’s largest automotive distributor, Astra International, has raised IDR2.8 trillion (US$286m) from the sale of a 15% stake in the country’s largest automotive component manufacturing group, PT Astra Otoparts.
INDIA: JLR boosts Tata to estimate-beating Q4 results
30 May 2013
A rise in profits at British luxury vehicle unit Jaguar Land Rover was not enough to offset an overall fall in fourth fiscal quarter after tax earnings at parent Tata Motors. Nonetheless, results were ahead of analysts' estimates.
FRANCE: Sources say PSA may need to sell shares
30 May 2013
PSA Peugeot Citroen may have to raise funds through a share sale as it burns through cash in a weak market, sources told the Reuters news agency.
UK: Tata's Jaguar Land Rover books 11% profit boost
29 May 2013
Tata Motors' UK luxury car unit Jaguar Land Rover booked record sales, revenues and pre-tax profit for the full fiscal year to 31 March, 2013.
ISRAEL: Better Place pulls the plug as EV sales stall
28 May 2013
Better Place, the Tel Aviv-based company launched in 2007 to develop a global network of recharging stations for electric vehicles, has filed for bankruptcy. The company said in its court filing on Sunday that it has cumulative losses of US$812m, assets of US$10m and that it owes US$40m to suppliers.
ITALY: Fiat shares up on Chrysler deal speculation
28 May 2013
Fiat's share price has spiked on speculation that a deal to consolidate its control and ownership of Chrysler could be close.
FRANCE: Valeo completes sale of Access Mechanisms unit to U-Shin
24 May 2013
Valeo has announced that it will close the deal which will see the sale of its access mechanism business to Japan's U-Shin today (24 May). According to a statement released by the company, the unit's sale will be completed for an enterprise value of EUR203m.
US: Tesla pays back big Federal loan early
23 May 2013
Tesla Motors has announced that it has paid off the entire loan awarded to the company by the US Department of Energy in 2010.
AUSTRALIA: Ford loses $A141m in 2012
23 May 2013
Ford Australia has announced an after-tax operating loss of A$141m for the 2012 financial year. This followed a loss of $290m in 2011 and took losses in the last five years to about A$600m. Ford said it would close its Australian manufacturing plants and expand its vehicle lineup by 30% by 2016 to return to profitability.
SOUTH AFRICA: Auto pay talks to start against labour unrest backdrop
22 May 2013
Crunch talks between South African metalworker unions and employers are due to take place in Pretoria next week against a context of significant labour unrest.
US: Denso execs facing prison for price fixing
22 May 2013
Two Japanese executives who worked for Denso Corporation are facing over a year in a US federal prison following their roles in a price fixing scandal.
SWEDEN: Saab trio arrested on tax suspicions
21 May 2013
Three senior former Saab employees are currently being interviewed in Sweden on suspicion of tax evasion.
SPAIN: Ford strongly backs Transit state aid request as EC launches probe
17 May 2013
Ford has strongly rebuffed questioning from the European Commission (EC) as to whether Spanish plans to grant state aid for its Valencia project are against regulations.
CHINA: Dongfeng takes stake in MMC partner Fujian
16 May 2013
Dongfeng Motor has taken a shareholding in MMC's joint venture partner Fujian Motor. The deal gives China's second largest OEM new access to manufacturing capacity in the country's south east.
COMMENT: Is Tesla really worth twice as much as Fiat SpA?
16 May 2013
We live in strange times. As Fisker, a rival with supposedly superior range-extending technology falls apart, the value of Tesla rises yet again, this time by almost two percent on Wednesday to US$9.7bn.
GERMANY: BMW pins future on new models and technology
14 May 2013
BMW Group is paving the way for continued success in the future with a high level of expenditure on new technologies and models and investments in its production network, shareholders were told at the annual general meeting on Tuesday (14 May, 2013).
GERMANY: "No practical relevance" sees Schaeffler end Continental investment deal
14 May 2013
Schaeffler claims plans to end the mutual investment agreement with Continental are because the deal "no longer has any practical relevance for either company."
JAPAN: Nissan describes fiscal 2012 as challenging - sales, profits, inch up
13 May 2013
Nissan said it had "faced a range of challenges during fiscal year 2012, yet fourth quarter profitability enabled the company to achieve its full-year net income target".
JAPAN: NGK full year income falls 18.1%
13 May 2013
NGK Spark Plug's sales rose 6.3% to JPY302.8bn (US$2.98bn) in the fiscal year ended 31 March 2013. Operating income dipped 3% to JPY23.75bn.
