Correspondent, Detroit
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Jul 31, 2014

Delphi profit strong, but third-quarter outlook may disappoint

DETROIT (Reuters) – Delphi Automotive Plc (DLPH.N: Quote, Profile, Research, Stock Buzz) reported stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the third quarter that could fall short of analysts’ expectations, and shares fell 0.4 percent in morning trading.

The auto supplier said it would restructure in South America, where revenue slumped 24 percent in the second quarter.

Jul 28, 2014

Consumer Reports wants Toyota to recall older Camry hybrids

DETROIT (Reuters) – An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects.

Consumer Reports, which many consumers use when studying what vehicles to buy, said the Japanese automaker’s decision to call for a service campaign or a warranty extension on two different problems covering cars from model years 2007 to 2011 does not go far enough. Under a service campaign, an automaker repairs cars as they are brought back to dealers by consumers.

Jul 28, 2014
Jul 28, 2014
Jul 28, 2014

Exclusive: GM moves next version of big pickups ahead by nine months – sources

DETROIT (Reuters) – General Motors Co has pushed forward the launch of its next-generation full-size pickups by about nine months to fall 2018, hoping to narrow rival Ford Motor Co’s still-sizable lead in meeting future U.S. fuel-economy standards, supplier sources said on Monday.

Redesigned versions of GM’s full-size sport-utility vehicles are expected to follow about a year later, the two sources said.

Jul 24, 2014

Ford’s profit tops expectations, recall-hit GM misses

DETROIT, July 24 (Reuters) – Ford Motor Co one-upped
its larger rival General Motors Co in the second quarter,
showing a profit in Europe for the first time in three years
while GM was weighed down by recall-related costs in the United

Ford managed to eke out stronger earnings that sent its
shares higher on Thursday, while GM shares fell 5 percent even
though both automakers had good quarters in North America and
poor results in South America.

Jul 24, 2014
Jul 24, 2014

GM’s profit falls on recall costs, victims’ compensation fund

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.

GM also reiterated that it expected a moderately improved operating profit this year and that its future recall costs would be slightly higher than historic rates.

Jul 23, 2014
Jul 23, 2014

GM’s Chevrolet jersey sponsorship of Manchester United debuts in U.S.

DETROIT, July 23 (Reuters) – One bad season for Manchester United has not shaken General Motors Co’s belief in its $559 million sponsorship deal with the English soccer club as GM’s global mainstream auto brand, Chevrolet, will debut as the jersey sponsor in a match on Wednesday night.

Criticized by some experts in the sponsorship industry as a massive overpay, GM’s seven-year deal officially kicks in when United, majority owned by the American Glazer family and listed on the New York Stock Exchange, plays Major League Soccer team Los Angeles Galaxy at the Rose Bowl in Pasadena outside Los Angeles.

    • 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."
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