US plans sale of remaining GM stake
©Getty The US Treasury has signalled its determination to bring to an end to one of the US government’s biggest industrial interventions in decades by offloading all of its remaining…
Will we be ready for self-drive cars?
©Getty The age of the driverless car may not be far away: some say 10 years, others 20. Google, among companies developing autonomous cars in the US, has tested them…
Volvo chief pushes break-even goal
Volvo Cars is aiming to break even this and next year as the Swedish carmaker owned by China’s Geely awaits a raft of new models in 2015. Håkan Samuelsson, chief…
GM: time to hit the brakes
Shares in General Motors are up 50 per cent since 2012, including a nice 5 per cent pop after its first-quarter results were released on Thursday. More amazingly, the rally…
GM stems losses in a worsening Europe
General Motors, the biggest US carmaker by revenues, hailed its “progress” in Europe after it reduced first-quarter losses there, but said the region’s troubled car market had not yet hit…
BMW sticks to profit targets
BMW confirmed its relative resilience amid gloom among European carmakers, sticking to profit targets and saying sales should reach a new high in 2013. The German premium carmaker is aiming…
Delphi upbeat as US car sales accelerate
©Getty Delphi, the auto components maker, increased its forecast for full-year net income on Wednesday as US car sales showed double-digit annual growth, driven by pick-up truck sales. Delphi, one…
Ford to open showroom in Myanmar
Ford joined the growing stream of US companies investing in Myanmar by announcing plans to open a full-service showroom and service centre in Yangon this year in partnership with a…
Fiat sees sharp fall in profits
Fiat, the Italian carmaker that owns Chrysler, said that first-quarter profits fell by nearly a quarter as the European market continued to shrink and it sustained higher costs from the…
Week in review, April 27
©Reuters Chairman and founder Peter Munk makes clear that Barrick Gold remains his creature A round-up of some of the week’s most significant corporate events and news stories. Corporate person…
Japan carmakers hope for lift from yen
Brighter profit forecasts issued by Japanese carmakers have highlighted the strong lift that the industry expects to receive from a cheaper yen. Honda and Mazda’s projections for the financial year…
Hyundai quarterly profit falls 15%
Hyundai Motor reported a 15 per cent drop in first-quarter net profit as the weaker yen and labour issues eroded the Korean carmaker’s competitiveness. Hyundai said a recent string of…
Mixed Volvo earnings reveal wider trend
Volvo underlined the fragile state of European industry as the Swedish truckmaker reported its weakest sales in three years at the same time as an unexpected rise in orders. The…
Ford reveals deeper European losses
©Bloomberg Ford underlined the continuing sharp contrast between the fortunes of the European and US car industries when it revealed deepening losses in Europe alongside record results in North America.…
Good times stall for German carmakers
For months, German carmakers have appeared to operate according to a different rule book than the rest of the sector. As Europe slid back into recession and its car market…