DETROIT, Jan 29 (Reuters) – Ford Motor Co on Thursday
said it would keep relying on North America for its profit this
year as the No. 2 U.S. automaker signaled that losses in Europe
would be more than previously forecast.
Ford had previously estimated losses from Europe at about
$250 million in 2015. On Thursday, however, it backed away from
that forecast, saying the loss would narrow from $1 billion in
2014 but would be wider than previously thought.
DETROIT, Jan 21 (Reuters) – Volvo Cars on Wednesday named a
new head of North America as the Swedish auto brand tries to
reverse lagging sales in a growing U.S. market.
Lex Kerssemakers, 55, was named senior vice president of the
Americas as well as president and CEO of Volvo Cars of North
America. He will report to Volvo CEO Hakan Samuelsson.
Kerssemakers is currently senior vice president for product
strategy and vehicle line management.
DETROIT, Jan 14 (Reuters) – General Motors Co on
Wednesday forecast that its 2015 operating profit will increase
from last year due mostly to growth in its two largest auto
markets, China and the United States.
As it moves past a year marred by massive recalls from a
defective ignition switch linked to at least 45 deaths, GM said
modest growth in global vehicle sales this year would help the
No. 1 U.S. automaker post improved results in all of its
regions. It also said it remained on track for 2016 targets,
including 10 percent profit margins in North America and a
return to profits in Europe.
DETROIT, Jan 12 (Reuters) – General Motors Co’s
Cadillac brand plans a $12 billion new model offensive over the
next five years that will include eight vehicles, including five
in segments where it does not currently compete, Cadillac chief
Johan de Nysschen said at the Detroit auto show on Monday.
GM has labored for years to rebuild Cadillac into a global
brand, but it has stumbled as it tried to re-establish its
stature in the U.S. market, where sales declined 6.5 percent
last year. Globally, Cadillac sales increased 5 percent.
DETROIT, Jan 12 (Reuters) – General Motors Co on
Monday showed its Chevrolet Bolt concept car with an electric
driving range of more than 200 miles and a $30,000 price tag,
offering a view into where the U.S. automaker is pushing in
development of electric vehicles (EV).
The all-electric Bolt is a concept car not currently slated
for production, but Chief Executive Officer Mary Barra said the
company is committed to developing an affordable, long-range EV,
and GM said they could develop the car in as little as 18