Finance

Lower Taxes Boost Ford’s Profit 4%

July 26, 2017 at 10:41 AM

Ford Motor Co.’s net income grew 4% to $2.0 billion in the second quarter of 2017, thanks to a lower tax rate. Global wholesales were flat at 1.65 million units. But a richer mix bumped revenue up 1% to $39.9 billion.

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Dassault Systemes

“Smart” Traffic Lights and Construction Zones

The state of Michigan is testing several connected-car technologies designed to make driving safer, notes Kirk Steudle, director of the Dept. of Transportation.

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Business

KKR Partners with LS Group on Electronics, Buys Copper Business

New York City-based private equity firm KKR & Co. announced two agreements with LS Group related to the South Korean conglomerate’s LS Automotive and LS Mtron’s (LSM) businesses.

FCA Posts Record 2Q Profits

Fiat Chrysler Automobiles NV’s net profit zoomed to €1.2 billion ($1.4 billion) in the second quarter from €321 million in the same period last year.

Finance

Kia’s Sales, Earning Fall

Kia Motors Corp. reports that its net income for the second quarter dropped 53% to 390 billion won ($350 million). Revenue fell 6% to 13.6 trillion won ($12.2 billion).

Business

Report: BMW Suspends Talks with Daimler on Parts Purchasing

BMW AG has halted talks with Daimler AG about cooperating on parts purchases after the European Commission accused the two companies, along with Volkswagen Group’s Audi and Porsche units, with conspiring to control parts prices, sources tell the Sueddeutsche Zeitung.

EV-Hybrid

Chinese EV Startups Ponder Alliance

Five Chinese electric-car startups are pondering plans for an alliance that would enable them to share resources and jointly develop EV technologies.

Legal

Grand Jury Indicts Former FCA Executive In Union Payoff Scheme

A former labor relations executive at Fiat Chrysler Automobiles NV has been charged with making more than $2.2 million in illegal payments to himself and a United Auto Workers union official in Detroit.

New Product

McLaren Readies Next-Gen Supercar

McLaren Automotive Ltd. plans to unveil its secretive P15 supercar later this year, Autocar reports.

Regulatory

Ford Recall Targets Seat and Seatbelt Bolts That Could Break

Ford Motor Co. is recalling 116,800 vehicles in the U.S., Canada and Mexico replace bolts in the seats, seatbacks, seatbelts and/or lap belt buckles that could break off in a crash.

Mobility

Google Integrates Waze with Android Auto

Alphabet Inc.’s Google unit is adding its Waze navigation system into the company’s Android Auto interface that allows a user to access smartphone content from the vehicle’s infotainment system.

Sales

New-Car Appeal Climbs to Record High in U.S.

New vehicles in every market segment are more appealing than ever to U.S. consumers, according to market researcher firm J.D. Power.