Finance

Lear’s Quarterly Net Income Drops 47%

January 28, 2019 at 12:12 AM

Lear Corp. says a decline in global vehicle output caused its fourth-quarter revenue and net income to fall 8% to $4.9 billion and 47% to $212 million, respectively.

Ford Says “Hard” Brexit Could Cost It $1 Billion

January 25, 2019 at 12:00 AM

Ford Motor Co. says it will lose as much as $1 billion if the U.K. leaves the European Union in late March without a new trade deal.

Hyundai Post First Quarterly Loss in 7 Years

January 24, 2019 at 1:42 AM

Hyundai Motor Co. and its Kia Motors affiliate posted an unexpected fourth-quarter net loss of 203 billion won ($180 million), its first in at least seven years.

Ford Posts Quarterly Loss

January 23, 2019 at 9:49 PM

Ford Motor Co. swung to a $116 million loss in the fourth quarter of 2018, reversing a $2.5 billion profit in the previous year. It was the company’s first quarterly loss in two years.

Bentley Says Profit Hinges on Smooth Brexit

January 22, 2019 at 2:29 PM

Volkswagen AG’s Bentley luxury brand’s hope for a profitable 2019 will evaporate if the U.K. exits the European Union in March with no trade deal.

Ford Renews Plea for Investor Patience after Weak Profit Report

January 16, 2019 at 2:20 PM

Ford Motor Co. CEO Jim Hackett has again asked investors to be patient after the carmaker estimated its profits for 2018 would be at the low end of its forecast.

Goodyear Issues Third Profit Warning

January 15, 2019 at 3:52 PM

Goodyear Tire & Rubber Co. has lowered its guidance for operating income in 2018 to slightly below $1.3 billion.

GM Predicts Stronger Profits This Year

January 11, 2019 at 10:17 AM

General Motor Co. predicts its adjusted earnings this year will climb to $6.50-$7 per share after surpassing its expected $6.20 per share result for 2018.

Bentley Unit Told to Become Profitable Within 2 Years

January 09, 2019 at 11:14 AM

Volkswagen AG’s major shareholder families have given the company’s Bentley super-luxury brand no more than two years to achieve a sustainable profit.

Byton EV Startup Hopes to Raise Another $500 Million

January 08, 2019 at 3:06 PM

China’s Byton Ltd. is preparing a new $500 million fundraising round for its electric car business, sources tell Reuters.

Valeo Warns of New Cost Cuts

January 08, 2019 at 1:36 AM

Paris-based parts supplier Valeo SA is developing a new cost-cutting budget for 2019 to follow €100 million ($115 million) in reductions imposed last year.

Faraday Future Settles Dispute with Top Investor

January 01, 2019 at 1:56 AM

Electric car startup Faraday Future Inc. says it has resolved a dispute with its largest investor that will enable the company to pursue additional funding elsewhere.