Finance

BorgWarner Quarterly Sales, Profits Drop

July 25, 2019 at 4:54 PM

BorgWarner Inc. says its second-quarter revenue dropped 5% to $2.6 billion, and adjusted net earnings fell 37% to $172 million.

Losses Deepen for Tata Motors and JLR Unit

July 25, 2019 at 4:13 PM

Net losses at Tata Motors Ltd. nearly doubled to 37 billion rupees ($536 million) in the Indian company’s fiscal first quarter ended June 30.

Nissan Cuts 12,500 Jobs as Net Income Falls 95%

July 25, 2019 at 3:37 AM

Nissan Motor Co. says it will eliminate 12,500 jobs worldwide and cut its global production capacity 10% by early 2023.

VW Group Revenue, Profits Rise

July 25, 2019 at 2:41 AM

Volkswagen AG’s retail sales slipped in April-June. But revenue and operating profits improved for the quarter and through the first half of 2019.

Tesla Cuts Quarterly Losses as Revenue Soars

July 25, 2019 at 1:48 AM

Tesla Inc. narrowed its second-quarter loss to $408 million from $718 million last year as automotive-related revenue surged 60% to $5.4 billion.

Ford’s Net Profit Plummets 86%

July 25, 2019 at 12:43 AM

Ford Motor Co.’s net earnings in the second quarter plunged to $148 million from $1.1 billion in the same period in 2018.

PSA’s Profits Climb 11% in First Half

July 24, 2019 at 3:57 PM

PSA Group posted big profit gains in the first half of 2019 in spite of a dip in revenue.

Valeo’s Sales, Earnings Drop

July 24, 2019 at 1:57 PM

Parts supplier Valeo SA reports its revenue, operating income and net profit fell in the first half of 2019 because of declining vehicle production, especially in China.

Daimler Posts Net Loss as Revenue Rises

July 24, 2019 at 3:03 AM

Daimler AG posted a net loss attributable to shareholders of €1.3 billion ($1.4 billion) in the second quarter, reversing a €1.7 billion gain in the same period last year.

BAIC Buys 5% Stake in Daimler

July 23, 2019 at 11:59 AM

China’s BAIC Group (Beijing Automotive Industry Holding Co.) has acquired a 5% stake worth €2.5 billion ($2.8 billion) in Daimler AG.

Conti Lowers Outlook Again

July 22, 2019 at 4:54 PM

Continental AG has lowered its guidance for fiscal 2019, mainly because of an anticipated downturn in industrywide production.

Hyundai’s Net Profit Soars 23%

July 22, 2019 at 2:35 AM

A richer mix of SUVs gave Hyundai Motor Co. hefty second-quarter gains in revenue and operating profit—and its sharpest jump in net profit in more than seven years.