Correspondent, Detroit
Ben's Feed
Feb 4, 2015
Feb 3, 2015

AutoNation posts higher profit on strong new and used car demand

DETROIT, Feb 3 (Reuters) – AutoNation Inc, the
largest U.S. auto dealer group, on Tuesday posted a
higher-than-expected quarterly profit due to strong profit
margins from new and used vehicle sales, driving its shares up
nearly 8 percent.

“While unit volume and revenues were strong across the
board, new and used margin performance was especially
surprising,” Morgan Stanley analyst Ravi Shanker said in a
research note.

Jan 29, 2015
Jan 29, 2015

Ford profit beats estimates, but European outlook worsens

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.

Jan 21, 2015

Volvo names new U.S. chief as sales decline

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.

Jan 14, 2015

GM sees improved profit in 2015 on China, U.S. growth

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.

Jan 13, 2015
Jan 13, 2015
Jan 13, 2015
Jan 12, 2015
    • 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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