Finance

Gentex Hikes Outlook as Sales Rise

July 19, 2019 at 1:05 PM

Gentex Corp. reports that its second-quarter revenue rose 3% to $469 million—even though vehicle auto output fell 8% worldwide—because of a richer product mix.

Aston Martin’s Top Investor May Raise Stake

July 19, 2019 at 10:52 AM

Italy’s Investindustrial, which owns 31% of Aston Martin Lagonda Ltd., has offered to raise its stake by another three points.

Autoliv Cuts Outlook as Profits Plummet

July 19, 2019 at 10:22 AM

Swedish safety systems supplier Autoliv Inc. has slashed its outlook for 2019 after the company’s second-quarter net income plunged 43%.

Akebono Lands $185 Million Bailout

July 18, 2019 at 9:11 AM

Ailing Akebono Brake Industry Co. says it has secured 20 billion yen ($185 million) from turnaround specialist Japan Industrial Solutions Co. in exchange for new stock shares.

Volvo Deepens Cost-Cutting as Profits Plunge

July 18, 2019 at 1:46 AM

Volvo Car Corp. reports higher unit sales and revenue in the second quarter, but tariffs and pricing pressure caused profits to plunge.

SKF’s Operating Profit Drops 13%

July 17, 2019 at 1:42 PM

Swedish bearings maker SKF Group says restructuring costs caused its operating profit in April-June to fall 13% to 2.5 billion kronor ($271 million).

Lear Cuts Outlook for 2019

July 16, 2019 at 12:26 PM

Vehicle seating supplier Lear Corp. has cut its full-year revenue and net income forecasts by $1 billion and more than $200 million, respectively.

JLR’s EV Vow Lands $636 Million Loan Guarantee

July 15, 2019 at 2:56 PM

A pledge by Jaguar Land Rover Ltd. to build a range of electrified vehicles in England has netted a $636 million loan guarantee from the British government.

Geely Warns Its Half-Year Profits Plunged 40%

July 12, 2019 at 5:05 PM

China’s Geely Automobile Holding Co. warns that slumping sales cut its net earnings in the first half of 2019 40% to about 2.7 billion yuan ($390 million).

Daimler Issues a Fourth Profit Warning

July 12, 2019 at 12:59 PM

Daimler AG has lowered its profit outlook for the fourth time since last summer, warning it will post a €1.6 billion ($1.8 billion) pretax loss in the second quarter.

U.S. OKs SoftBank’s $2.3 Billion in Cruise Automation

July 08, 2019 at 11:48 AM

A U.S. panel has ruled there is no national security threat in the planned $2.3 billion investment in General Motors Co.’s Cruise Automation unit by Japan’s SoftBank Corp., Reuters reports.

Investindustrial Aims to Boost Stake in Aston Martin

July 01, 2019 at 4:55 PM

A unit of Italian private equity group Investindustrial, already Aston Martin Lagonda Ltd.’s largest shareholder, hopes to hike its holding in the British luxury car marque by three points to 34%.