DETROIT, July 29 (Reuters) – Auto systems supplier TRW
Automotive Holdings Corp, targeted for takeover by ZF
Friedrichshafen, easily beat Wall Street profit expectations for
the second quarter as revenue rose 2 percent.
Excluding one-time items, TRW earned $2.32 per share in the
quarter, versus $2.02 a year earlier, it said on Tuesday.
Analysts expected earnings of $2.12 per share, excluding
one-time items, according to a poll by Thomson Reuters I/B/E/S.
DETROIT (Reuters) – A former Ford Motor Co engineer is being investigated by the FBI after listening devices were found in meeting rooms at company offices, the automaker said on Friday.
“Ford and the FBI are working together on a joint investigation involving a former employee,” Ford spokeswoman Susan Krusel said. “As this is an ongoing investigation, we are not able to provide additional details.”
DETROIT, July 25 (Reuters) – Lear Corp, maker of
auto seats and electrical power systems, on Friday beat Wall
Street’s earnings expectations for the second quarter and
increased its full-year outlook, sending its shares up as much
as 5 percent.
The stronger-than-expected results came despite weakness in
South America and flat margins in the company’s important
FOX LAKE Ill. (Reuters) – The news about deadly crashes linked to a faulty ignition switch, followed by wave upon wave of recalls, did not bode well for General Motors dealers earlier this year. It conjured visions of worried, frustrated drivers pouring onto lots like Raymond Chevrolet, outside of Chicago.
But according to Robbie Long, service director for the dealer and nearby Ray Chevrolet, what looked like “great adversity” has turned into an opportunity.
, July 25 (Reuters) – The news about deadly
crashes linked to a faulty ignition switch, followed by wave
upon wave of recalls, did not bode well for General Motors
dealers earlier this year. It conjured visions of worried,
frustrated drivers pouring onto lots like Raymond Chevrolet,
outside of Chicago.
But according to Robbie Long, service director for the
dealer and nearby Ray Chevrolet, what looked like “great
adversity” has turned into an opportunity.
, July 24 (Reuters) – Ford Motor Co’s
operating earnings for the second quarter beat Wall Street
expectations as better-than-expected profit in North America and
Europe countered weaker results in Asia Pacific and South
Ford’s Chief Financial Officer Bob Shanks said lower costs
helped boost the company’s pretax profit in North America to a
record $2.44 billion. Nine analysts surveyed by Reuters expected
a pretax profit of $2.04 billion.
DETROIT (Reuters) – Shares of AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. auto dealer group, fell as much as 8 percent on Thursday after its earnings missed analysts’ expectations.
Analyst Joseph Amaturo of the Buckingham Research Group said he was “unimpressed” with AutoNation’s results and that the company was not expanding its share of the U.S. new-vehicle market.
DETROIT, July 17 (Reuters) – Chrysler Group LLC told U.S.
safety regulators it could add trailer hitches to recalled Jeep
SUVs by March, much sooner than the several years estimated by
regulators who had urged the automaker to quicken its pace for
fixing the affected vehicles.
Chrysler’s statement late Wednesday, in a filing with the
National Highway Traffic Safety Administration, comes two weeks
after the agency asked for an explanation on why it would take
Chrysler so long – until 2018 – to make Jeep SUVs with rear fuel
tanks safer by adding the trailer hitches.
DETROIT (Reuters) – U.S. safety regulators are demanding an explanation for what they say is Chrysler’s slow pace in making fixes to protect rear fuel tanks in older model Jeep SUVs even though the regulators have accepted the automaker’s remedy in the case of lower-speed crashes.
The National Highway Traffic Safety Administration said on Wednesday that at Chrysler’s current pace it would take nearly five years to fix all of the affected Jeep Grand Cherokee and Jeep Liberty SUVs involved in a recall announced last June.
DETROIT (Reuters) – Chrysler Group on Tuesday reported a 9 percent gain in U.S. auto sales for June, beating forecasts for a month expected to show an industrywide decrease from a year earlier.
June sales for the U.S. market overall are expected to fall about 3 percent, but analysts say that is due to two fewer selling days than a year earlier rather than a weaker new-vehicle market.