Finance

Aston Martin’s Pretax Profit Plunges 50%

May 21, 2018 at 11:39 AM

Aston Martin Lagonda Ltd. reports its pretax profit in the first quarter of 2018 shrank to £2.8 million ($3.8 million) from £5.5 million in the same period last year.

Report: Tesla May Need $10 Billion by 2020

May 17, 2018 at 9:08 AM

Tesla Inc. may need to raise more than $10 billion in fresh capital by 2020 to pay for new product development and launch production in China, says Goldman Sachs Group.

Defaults on Subprime Car Loans at 22-Year High

May 16, 2018 at 1:34 AM

U.S. consumers with subprime auto loans are defaulting on payments at the highest rate since 1995, The Detroit News reports, citing Fitch Ratings.

Geely Seeks Volvo IPO Valuation Greater than $30 Billion

May 15, 2018 at 1:00 AM

Geely Automobile Holding Co. won’t proceed with an initial public offering for its Volvo Cars unit unless it achieves a valuation of at least $30 billion, sources tell the Financial Times.

Nissan Sales, Profits Rise

May 14, 2018 at 11:07 AM

A strong final fiscal quarter at Nissan Motor Co. helped boost the company’s full-year revenue 2% to 12 trillion yen ($110 billion) and net income 13% to 747 billion yen ($6.8 billion).

Subaru’s Revenue, Earnings Fall

May 11, 2018 at 11:40 AM

Subaru Corp. blames fewer wholesales in the U.S., higher fixed costs and the effect of a regulatory scandal in Japan for cutting revenue 6% and net income 10% in January-March.

Geely Ponders IPO for Volvo Cars

May 10, 2018 at 4:26 PM

Zhejiang Geely Holding Group Co. is analyzing a plan to launch an initial public offering later this year for its Volvo Car unit, sources tell Bloomberg News.

Magna Posts Record Sales, Earnings

May 10, 2018 at 2:29 PM

Magna International Inc. reports a 21% jump to $10.8 billion in first-quarter sales and 14% increase to $660 million in net income. Both results were records.

Toyota’s Profits Surge as Costs Shrink

May 09, 2018 at 10:36 AM

Toyota Motor Corp.’s operating and net profits in its fourth fiscal quarter ended March 31 jumped 43% to 630 billion yen ($5.7 billion) and 21% to 481 billion yen ($4.4 billion), respectively.

Sales, Profits Soar for American Axle

May 04, 2018 at 6:00 PM

Sales, operating income and net income surged in the first quarter for Detroit-based American Axle & Manufacturing Holdings Inc.

BMW Sales Rise as Revenue, Operating Profits Drop

May 04, 2018 at 2:44 AM

BMW AG reports its first-quarter unit sales climbed as revenue and pretax earnings fell.

GM Plans $3.6 Billion in Loans to S. Korean Unit

May 03, 2018 at 2:10 PM

General Motors Co. will extend $3.6 billion in new loans to its struggling affiliate in South Korea, sources tell Reuters.