, 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.
DETROIT (Reuters) – General Motors Co’s (GM.N: Quote, Profile, Research, Stock Buzz) ongoing safety crisis over deadly ignition switches deepened on Monday with the recall of 8.23 million mostly older cars linked by the U.S. automaker to three deaths.
The latest recalls boosted the number of deaths acknowledged by GM to at least 16. The automaker said it now knows of 61 crashes tied to faulty ignition switches, although U.S. lawmakers and safety regulators have said they expect the death toll to climb.
DETROIT (Reuters) – General Motors Co GM.N on Monday widened the list of older models it is recalling for potentially deadly ignition switches, adding 8.23 million compact and midsize cars that it has linked to seven crashes and three fatalities.
GM this year has recalled 29 million vehicles, more than half of them – roughly 14.7 million – because of potentially defective ignition switches. GM last year sold 2.8 million vehicles in the United States and 9.7 million globally.
, June 26 (Reuters) – Fiat Chrysler
Automobiles will begin selling Jeep, the SUV brand
central to its global expansion, in India in 2015, the brand’s
chief, Mike Manley, said on Thursday.
Manley said the original plan was for Jeep to enter the
India market in late-2013, but that was delayed because he did
not feel the brand would enter the market strongly at the time.
DETROIT, June 25 (Reuters) – General Motors Co is
preparing to recall about 33,000 Chevrolet Cruze sedans with
potentially defective air bags made by troubled Japanese
supplier Takata Corp, the automaker said late
In a crash, the driver-side air bag on the 2013-2014 Cruze
could fail to inflate, GM said.
DETROIT (Reuters) – General Motors Co on Wednesday told its North American dealers not to sell an inventory of about 33,000 new and used Chevrolet Cruze sedans from model years 2013 and 2014 because of a potential problem with air bags made by troubled Japanese supplier Takata Corp.
Potentially faulty air bags supplied by Takata have led to the recall of about 10.5 million vehicles worldwide, many of them made by Toyota Motor Corp and Honda Motor Co.