Finance

Tax Break Doubles Ferrari’s Net Earnings

November 05, 2018 at 1:16 PM

Ferrari NV reports that a one-time tax deal in Italy doubled its net earnings in the third quarter to €287 million ($327 million).

Subaru Lowers Outlook as Sales, Earnings Drop

November 05, 2018 at 4:08 AM

Subaru Inc. reports its net income in the first half of its fiscal year ended Sept. 30 fell 48% to 44.3 billion yen ($391 million).

Faraday Future Looks for Financial Saviors

November 02, 2018 at 9:33 AM

Struggling electric car startup Faraday Future Inc. says it is looking for debt and equity financing to revive its hope of launching its first car by the end of this year.

GM Halts Renovations of Michigan Facilities

November 02, 2018 at 9:02 AM

General Motors Co. has stopped work on renovations to its Warren, Mich., technical center and propulsion headquarters in Pontiac, Mich.

JLR Vows to Cut Costs by $3.2 Billion as Sales Slump

October 31, 2018 at 1:00 PM

Jaguar Land Rover Ltd. says it will cut costs and investments by £2.5 billion ($3.2 billion) within 18 months after reporting a loss in the third quarter.

GM Swings to a $2.5 Billion Profit

October 31, 2018 at 11:46 AM

General Motors Co. recovered from a $3 billion net loss in last year’s third quarter—due to the sale of its Opel unit—with a net profit of $2.5 billion in July-September.

Honda’s Net Income Climbs 21%

October 30, 2018 at 3:42 PM

Honda Motor Co.’s operating and net income in its most recent fiscal year grew 40% to 214 billion yen ($1.9 billion).

FCA’s Net Profit Slides 38% on U.S. Diesel Problems

October 30, 2018 at 1:55 PM

Fiat Chrysler Automobiles NV hiked third-quarter unit sales and net revenue, but a special charge to cover possible fines over U.S. diesel emissions caused a 38% drop in net profit.

VW’s Third-Quarter Profit More Than Doubles

October 30, 2018 at 9:16 AM

Volkswagen Group’s net profit in July-September soared to €2.8 billion ($3.1 billion) from €1.1 billion in the same period last year.

Dana Posts Sales, Profit Gains

October 29, 2018 at 2:58 PM

Dana Inc.’s third-quarter net income soared 38% to $95 million, and sales rose 8% to nearly $2 billion.

Goodyear Sales Climb as Operating Income Slips

October 26, 2018 at 5:18 PM

Goodyear Tire & Rubber Co. reports that its tire sales advanced 2% to 40.5 million units, and revenue rose slightly to $3.9 billion.

Net Profit Plunges 55% for Volvo Cars

October 26, 2018 at 11:15 AM

Volvo Car Group's third-quarter revenue rose 18% to $621 million. But net income plummeted 55% to $120 million.