Financial: Latest news and analysis articles
Nissan Motor confirmed this week that it has signed an agreement to acquire a 34% stake in Mitsubishi Motors, in a deal worth JPY247bn (US$2...
News that Geely-owned Volvo Cars had made first quarter earnings gains thanks to strong sales of its recently launched, and high margin, XC9...
A highlight for me in the last week was a go in what Nissan UK bills its third generation Leaf - the 2016 update with an optional longer ran...
It would appear our new Research Snapshots have gone down a treat with our readers, judging by the popularity of our review of door innovati...
European Automotive Supplier body, CLEPA, continues to power its members' interests in Brussels as well as act as the Continent's arm in negotiations with its Japanese equivalent in JAPIA and American counterparts, OESA. Simon Warburton talked to CLEPA CEO, Jean-Marc Gales at last week's Paris motor show.
Newly-appointed managing director of Scandinavian supplier body, FKG, Fredrik Sidahl, was 25 years with Volvo before working for Saab. In the first of two interviews, he talked to Simon Warburton in his Gothenburg office about the collapse of the iconic Swedish brand and gave some frank views on the government's attempts to save it.
General Motors has announced the execution of an unsecured US$14.5bn revolving credit facility consisting of a US$10.5bn five-year facility and a US$4bn three-year facility. The facility amends and extends GM’s existing US$12.5bn revolving credit facility.
Volkswagen and IG Metall have agreed a pay deal. Base pay for employees covered by the collective agreement is to be increased in two stages, by 2.8% effective 1 September, 2016 and 2% effective 1 August, 2017. Each employee will receive a pension building block of EUR200 (US$224.5). In addition, a further development of provisions on partial early retirement has been agreed, allowing greater differentiation of partial early retirement schemes. It was also agreed that the profit share would be calculated on the basis of a two-year period in the future. The collective agreement has a term of 20 months.
Daimler said it would book a charge "in the mid hundreds of million euros" in financial 2016 to cover costs associated with the recently announced extended recall of 35m-40m Takata inflator-equipped airbags.
Zhejiang Geely Holding Group has raised US$400m to support the development of zero-emission capable vehicles by its UK subsidiary, the London Taxi Company (LTC), maker or the iconic London Black Cab.
Johnson Electric has posted 2015 EBITDA down 4% to US$332m, although sales rose 5% to US$2.23bn.
Honda Motor on Friday announced a surprise net loss for the fourth fiscal quarter of the year to 31 March 2016 as quality-related costs, mostly to recall Takata-made air bag inflators, almost quadrupled for the full business year.
Honda has confirmed earlier reports it would recall about another 20m vehicles to replace Takata airbags.
Nissan Motor and Mitsubishi Motors Corporation, (MMC) announced they have signed a basic agreement today to form a far-reaching strategic alliance between the two Japanese automakers.
Nissan Motor said on Thursday (12 May) it had increased full fiscal year revenues and profitability as rising demand for new products in North America, western Europe and China offset the impact of negative foreign exchange movements and slowing or declining sales in emerging markets.
Brembo has posted first quarter net profit up 32% to EUR60.4m (US$69m), while revenue rose 9.6% to EUR564m.
Despite selling almost 300,000 fewer vehicles worldwide, Toyota Motor Corporation (TMC) boosted revenue and profit in fiscal year 2015/16 ended 31 March, 2016. But it said annual net income would probably decline in this current fiscal year - for the first time in five years - because currency swings that had resulted in record profits now posed problems.
Takata Corporation has said it was considering a drastic review of its inflator division and the sale of non-core businesses - its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags.
Automobile Dacia booked record turnover of over EUR 4.3bn last year, up 1.76% year on year, as net profit rose 20% to almost EUR100m.
AAM has unveiled first quarter net income up 15% to US$61.1m compared to US$53.2m million last year.
Magna has posted first quarter sales up 15% to US$8.9bn, with net income from continuing operations attributable to Magna International, increasing 8% to US$492m.
Following the shareholders vote against Renault CEO Carlos Ghosn's EUR7.2m (US$8.3m) remuneration, French economy minister Emmanuel Macron said that the country would insist on reducing the payout.
Continental said it had boosted first quarter 2016 sales by 3% year-on-year to EUR9.85bn. Net income rose 12% to EUR734m and earnings per share to EUR3.67 from EUR3.28.
Meritor announced second fiscal quarter (to 31 March 2016) sales of US$821m, down 5% year on year. Operating income was $33m versus $39m and adjusted EBITDA was $81m, compared to $87m. Adjusted EBITDA margin was 9.9% versus 10.1%.
Geely-owned Volvo Cars has posted Q1 earnings gains boosted by strong sales of its recently launched and high margin XC90.
Delphi has reported first quarter results that beat Wall Street analyst expectations as revenues grew 7% on strong vehicle production schedules in its major operating regions.
We’re well into Q1 results season and there are one or two interesting straws in the wind.
We have just launched our first readership survey in two years.
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