Bernie's Feed
Apr 28, 2015

Ford profit misses expectations, 2015 profit outlook affirmed

By Bernie Woodall and Ben Klayman

DEARBORN, Mich. (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported a profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck and losing money in South America.

The No. 2 U.S. automaker maintained its full-year forecast of pre-tax profit of between $8.5 billion and $9.5 billion.

Apr 24, 2015

GM CEO Barra received $16.2 million in 2014 compensation

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Mary Barra, who last year became the first woman to lead a major U.S. automaker, received $16.2 million in 2014 compensation, up 78 percent from her predecessor’s total the previous year.

Most of Barra’s compensation is tied to stock awards that she cannot cash in yet. She received $4.55 million in salary and other liquid compensation for 2014, GM said in a proxy filed on Friday with the U.S. Securities and Exchange Commission.

Apr 23, 2015

GM first-quarter profit misses estimates on South America, Russia weakness

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company’s tax rate was higher than expected, sending shares down 4 percent.

“Clearly the macro environment in South America, and it’s primarily Brazil, deteriorated versus even where we thought it was going to be,” Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.

Apr 23, 2015

GM first-quarter profit disappoints on South American weakness

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company’s tax rate was higher than expected, sending shares down 3 percent.

“Clearly the macro environment in South America, and it’s primarily Brazil, deteriorated versus even where we thought it was going to be,” Chief Financial Officer Chuck Stevens told reporters at the company’s Detroit headquarters.

Apr 23, 2015

GM 1st-qtr profit disappoints on South American weakness

DETROIT, April 23 (Reuters) – General Motors Co
posted a smaller-than-expected quarterly profit on Thursday as
weakness in South America and Russia hurt demand and the
company’s tax rate was higher than expected, sending shares down
3 percent.

“Clearly the macro environment in South America, and it’s
primarily Brazil, deteriorated versus even where we thought it
was going to be,” Chief Financial Officer Chuck Stevens told
reporters at the company’s Detroit headquarters.

Apr 9, 2015

U.S. agency weighs reopening Jeep fires probe

DETROIT (Reuters) – U.S. vehicle safety regulators said
Thursday they could reopen an investigation into whether Fiat
Chrysler Automobiles needs to take more action to reduce the
risk of gas tank fires in older Jeep sport utilities.

“All options are available to us to address” the issue of
fires in Fiat Chrysler Automobiles’ older
Jeep SUVs, a National Highway Transportation Administration
official said Thursday. The official was echoing remarks made by
NHTSA administrator Mark Rosekind during an appearance in New
York on Thursday.

Apr 9, 2015

U.S. regulator warns of rust on brakes in cold-weather states

DETROIT (Reuters) – U.S. safety regulators on Thursday warned millions of owners of older model vehicles in “Rust Belt” states to get their brake systems checked for corrosion, a warning that stems from a long-running investigation of complaints about General Motors Co trucks and SUVs.

The “Rust Belt” includes about half of the 50 U.S. states. It is where salt is used to melt snow and ice on roads, which can increase the chance of corrosion on cars and trucks over time.

Apr 1, 2015

Automakers profit from luxury models, North America, China -McKinsey

NEW YORK (Reuters) – The world’s biggest automakers increasingly are making money by producing luxury models and reaping profits in China and North America, management consulting firm McKinsey & Co said in a report issued on Wednesday.

    McKinsey’s findings dovetail with comments by industry executives this week at the annual New York Auto Show. They say they are bullish on the luxury business in China and on the U.S. market because of its strong demand for SUVs and trucks.

Mar 27, 2015

Ford CEO Fields received $18.6 million in 2014 compensation

DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Mark Fields made $18.6 million in salary and other compensation last year, below the $23.2 million that predecessor Alan Mulally received in 2013, the company said on Friday.

Last year’s compensation for Fields, 54, was for half the year as CEO and half as chief operating officer. For 2013, he made $10.2 million as COO.

Mar 25, 2015

U.S. autoworkers face threat as car makers drawn to Mexico

DETROIT (Reuters) – The United Auto Workers union on Wednesday said getting raises for workers at the Detroit automakers will be a top priority in contract talks this summer, but more jobs and production are shifting to U.S. plants without unions and Mexico.

In the next six years, Mexico’s auto production will rise to more than a quarter of the North American market, according to industry consultant IHS Inc.