Correspondent, Detroit
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Apr 28, 2015

Ford 1st-qtr profit misses expectations, 2015 profit outlook affirmed

By Bernie Woodall and Ben Klayman

DEARBORN, Mich. (Reuters) – Ford Motor Co reported a first-quarter profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck, and losing money in South America.

The No. 2 U.S. automaker on Tuesday also maintained its full-year forecast of pretax profit between $8.5 billion and $9.5 billion.

Apr 28, 2015

Ford profit misses expectations, 2015 profit outlook affirmed

By Bernie Woodall and Ben Klayman

DEARBORN, Mich. (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported a profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck and losing money in South America.

The No. 2 U.S. automaker maintained its full-year forecast of pre-tax profit of between $8.5 billion and $9.5 billion.

Apr 23, 2015

Pricing pressure in U.S., China raises profit fears at GM, others

DETROIT, April 23 (Reuters) – The strength of the U.S. and
China economies has helped companies like General Motors Co
offset weakness in others parts of the world, but growing
pricing pressure in those lucrative markets could be a warning
sign for future profits.

GM Chief Financial Officer Chuck Stevens said on Thursday
during the company’s earnings conference call that the largest
U.S. automaker sees flat retail pricing in North America this
year. The company also will see continued competitive pricing in
China, especially for older-model vehicles that could see prices
decline 3 percent or more, Stevens said.

Apr 23, 2015

Pricing pressure in U.S., China raises fears about future profits

DETROIT (Reuters) – The strength of the U.S. and China economies has helped companies like General Motors Co offset weakness in others parts of the world, but growing pricing pressure in those lucrative markets could be a warning sign for future profits.

GM Chief Financial Officer Chuck Stevens said on Thursday during the company’s earnings conference call that the largest U.S. automaker sees flat retail pricing in North America this year. The company also will see continued competitive pricing in China, especially for older-model vehicles that could see prices decline 3 percent or more, Stevens said.

Apr 23, 2015

GM first-quarter profit misses estimates on South America, Russia weakness

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company’s tax rate was higher than expected, sending shares down 4 percent.

“Clearly the macro environment in South America, and it’s primarily Brazil, deteriorated versus even where we thought it was going to be,” Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.

Apr 23, 2015

GM first-quarter profit disappoints on South American weakness

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company’s tax rate was higher than expected, sending shares down 3 percent.

“Clearly the macro environment in South America, and it’s primarily Brazil, deteriorated versus even where we thought it was going to be,” Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.

Apr 23, 2015

GM 1st-qtr profit disappoints on South American weakness

DETROIT, April 23 (Reuters) – General Motors Co
posted a smaller-than-expected quarterly profit on Thursday as
weakness in South America and Russia hurt demand and the
company’s tax rate was higher than expected, sending shares down
3 percent.

“Clearly the macro environment in South America, and it’s
primarily Brazil, deteriorated versus even where we thought it
was going to be,” Chief Financial Officer Chuck Stevens told
reporters at the company’s Detroit headquarters.

Apr 22, 2015

GM gets boost from smaller pickups, but doubters question for how long

DETROIT (Reuters) – General Motors Co’s return to selling smaller pickups in the United States has resuscitated a moribund market segment, but new data highlights the risk that the automaker’s new trucks are cannibalizing sales of higher-priced models.

Since the launch last autumn of the Chevrolet Colorado and GMC Canyon, the midsize pickup segment has grown to more than 2 percent of the total U.S. car and light truck market from 1.4 percent last summer. Some industry executives believe the segment could double annual sales to 500,000 vehicles, which would have been 3 percent of last year’s market.

Apr 22, 2015

AutoNation posts stronger-than-expected 1st-quarter profit

DETROIT, April 22 (Reuters) – AutoNation Inc, the
largest U.S. auto dealer group, on Wednesday posted
stronger-than-expected quarterly profit as sales for both new
and used vehicles rose, sending shares up 2.5 percent in
premarket trading.

Chief Executive Officer Mike Jackson said he continues to
expect U.S. industry new vehicle sales this year to exceed 17
million. That would be the third time the sector has topped that
level after hitting that mark in 2000 and 2001.

Apr 17, 2015

GM counting on high-speed Internet services in car to drive profits

DETROIT (Reuters) – Buyers of General Motors Co vehicles will increasingly be able to use in-car mobile broadband systems to book hotel rooms, cut deals on driver insurance, pay for data usage and conduct a host of other transactions.

And each time they do, GM will get a small cut from the seller.

When the automaker began offering 4G LTE high-speed wireless connections in some cars last year, it wasn’t clear how it would generate revenue to offset the costs of the hardware. Now, as the company prepares to expand the technology to most of its 2016 U.S. models, GM is lifting the curtain on its digital business strategy.

    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Joined Reuters:
      1998
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