Bernie's Feed
Sep 1, 2015

Fiat Chrysler August U.S. sales rise 2 percent, top estimates

DETROIT (Reuters) – Fiat Chrysler Automobiles NV (FCAU.N: Quote, Profile, Research, Stock Buzz)(FCHA.MI: Quote, Profile, Research, Stock Buzz) on Tuesday led off major automakers reporting U.S. August sales, posting a stronger-than-expected rise of 2 percent, boosted by SUV and pickup truck sales.

FCA predicted that the auto industry in August will continue its recent trend of robust sales that are stronger than the overall U.S. economy, and will outstrip an estimate of 17.3 million vehicles for the industry on an annualized rate found by a Thomson Reuters poll of 47 economists.

Aug 18, 2015

Exclusive: Most of Buick’s future U.S. cars may come from overseas

DETROIT (Reuters) – Most Buick vehicles sold in the United States after 2016 could be imported from China and Europe, according to two sources familiar with parent General Motors Co’s (GM.N: Quote, Profile, Research, Stock Buzz) plans.

Only two of Buick’s future U.S. models, replacements for the mid-size LaCrosse sedan and the large Enclave crossover, are expected to be built in North America, according to the sources, who did not want to be identified because their companies work with GM.

Aug 13, 2015

Exclusive: GM boosting production of big SUVs and trucks – sources

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) is boosting production of its highly profitable large SUVs and trucks to a pace that could result in 48,000 to 60,000 additional vehicles for the 2016 model year, in a bid to capitalize on rising demand, sources told Reuters.

GM’s Arlington, Texas, plant that makes full-sized sport utility vehicles including the Cadillac Escalade and Chevrolet Suburban added Saturday overtime shifts beginning on Aug. 1, a GM spokesman confirmed on Thursday. GM is also expected to boost output of pickup trucks, other people familiar with the company’s plans said, but it was not clear how that would be done.

Aug 13, 2015

GM boosting production of big SUVs and trucks -sources

DETROIT, Aug 13 (Reuters) – General Motors Co is
boosting production of its highly profitable large SUVs and
trucks to a pace that could result in 48,000 to 60,000
additional vehicles for the 2016 model year, in a bid to
capitalize on rising demand, sources told Reuters.

GM’s Arlington, Texas, plant that makes full-sized sport
utility vehicles including the Cadillac Escalade and Chevrolet
Suburban added Saturday overtime shifts beginning on Aug. 1, a
GM spokesman confirmed on Thursday. GM is also expected to boost
output of pickup trucks, other people familiar with the
company’s plans said, but it was not clear how that would be
done.

Aug 12, 2015

U.S. steelmakers, politicians denounce China steel price cuts

DETROIT, Aug 12 (Reuters) – Moves by Chinese steel exporters
Wednesday to cut prices provoked cries of foul from the U.S.
steel industry, and gave politicians skeptical of the pending
Trans Pacific Partnership trade agreement new ammunition.

Reuters reported Wednesday that Chinese steel producers were
cutting export prices, riding the fall of the yuan currency
after the central bank devaluation on Tuesday.

Aug 3, 2015

U.S. July auto sales top expectations, boosted by SUVs, trucks

DETROIT (Reuters) – U.S. auto sales were stronger than expected in July and kept the industry on pace for its best year in a decade, driven by the continuing shift toward sport utility vehicles and pickup trucks.

Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) said U.S. auto industry sales of 1.55 million vehicles in July rose 6 percent, which would translate to an annualized rate of about 17.6 million to 17.7 million vehicles.

Jul 30, 2015

Researcher says can hack GM’s OnStar app, open vehicle, start engine

BOSTON/DETROIT (Reuters) – A researcher is advising drivers to halt the use of a mobile app for General Motors Co’s OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to remotely unlock cars and start engines.

“White-hat” hacker Samy Kamkar posted a video on Thursday saying he had figured out a way to “locate, unlock and remote-start” vehicles by intercepting communications between the OnStar RemoteLink mobile app and the OnStar service.

Jul 30, 2015

Fiat Chrysler reports robust quarter, narrows gap with U.S. rivals

MILAN/DETROIT, July 30 (Reuters) – Fiat Chrysler Automobiles
(FCA) on Thursday reported robust second-quarter
earnings and better margins in North America as charging higher
prices for its vehicles helped it gain ground on more profitable
U.S. rivals.

Milan-listed shares of the world’s seventh-largest carmaker
closed up 5.8 percent, and were up 5.3 percent in New York at
$15.30.

Jul 30, 2015

BorgWarner profit, sales miss estimates; cuts 2015 forecast

DETROIT (Reuters) – Automotive supplier BorgWarner Inc (BWA.N: Quote, Profile, Research, Stock Buzz) missed Wall Street expectations of second-quarter profit and revenue, the company said on Thursday, as a stronger U.S. dollar made its products more expensive overseas and eroded its bottomline.

Net earnings of $148.1 million, or 65 cents per share, were 22 percent lower than a year earlier for the maker of fuel-saving turbochargers and emissions systems.

Jul 28, 2015

Ford easily tops expectations on second-quarter profit

DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research) on Tuesday reported second-quarter earnings that handily beat expectations, based on the continued strength of North American sales, led by its popular F-150 pickup truck.

Ford posted net quarterly profit of $1.89 billion, or 47 cents per share. Analysts estimated profit of 37 cents per share, according to Thomson Reuters I/B/E/S.