Finance

Ford’s First-Quarter Income Drops 36%

April 27, 2017 at 9:59 AM

Ford Motor Co.’s net income in January-March fell to $1.6 billion from $2.5 billion. Adjusted pretax profit fell 42% to $2.2 billion.

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Dassault Systemes

Personal Mobility as an “Oasis”

EY has again partnered with Swiss mobility tech innovator Rinspeed to help show how tomorrow’s self-driving vehicles may look and function.

Facilities

Lamborghini Opens Mega-Store in Dubai

Volkswagen AG’s Lamborghini unit has opened its largest showroom in the world, a 19,000-sq-ft facility in Dubai.

People

Kia's U.S. Unit Hires Ex-Chrysler Ad Exec Chehab

Kia Motors Corp. has named Saad Chehab to take over as its U.S. marketing communications chief on May 8.

EV-Hybrid

Mahindra Mulls Pininfarina-badged Supercar

India’s Mahindra & Mahindra Ltd. may build a high-end electric vehicle that would be marketed under the company’s Pininfarina SpA design unit.

Facilities

Yanfeng Adds Test Lab in Slovak Republic

China’s Yanfeng Automotive Interiors has opened a new test lab within the company's technical center in Trencin, Slovak Republic.

Finance

BorgWarner Reports Sales, Earnings Gains

BorgWarner Inc.’s operating income and net earnings in the first quarter grew 11% to $293 million and 15% to $180 million, respectively.

Regulatory

Toyota Recalls 228,000 Tacoma Trucks in U.S.

Toyota Motor Corp. is preparing to recall about 228,000 of its 2016-2017 model Tacoma compact pickup trucks with rear axle differentials that could leak oil, seize and cause a crash.

Sales

Renault Hikes First-Quarter Revenue 25%

Renault SA’s increased its revenue 25% to €13.1 billion ($14.3 billion) in the first quarter as worldwide unit sales climbed 16% to 873,700 units.

Facilities

Kia Inks Deal to Build $1.1 Billion Assembly Plant in India

Kia Motors Corp. has signed a memorandum of understanding to open a $1.1 billion factory in Andhra Pradesh, India, in the second half of 2019.

Business

SiriusXM Buys Connected-Car Service Provider

Satellite-based radio service Sirius XM Holdings Inc. has acquired Automatic Labs Inc., a San Francisco-based provider of connected-vehicle services.

Production

Vehicle Production in U.K. Jumps to 17-Year High

Output by the U.K.’s carmakers rose 7% to 170,700 units in March, the best result since 2000, the Society of Motor Manufacturers and Traders reports.