Seating and electricals specialist Lear reported flat sales and reduced profits for the second quarter of 2012.
EDITOR WES RAYNAL: I seem to be one of the few auto writers on the planet who actually likes the new 2012 Honda Civic.
Also in this episode: Reports show mixed July automotive sales figures, and Penske Racing has released driver A.J. Allmendinger following a failed drug test.
Indian trade unions say they are fearful Maruti Suzuki may dismiss up to 400 workers at its Manesar plant following the recent arson attack that left one senior manager dead and a hundred people hospitalised.
A contact within General Motors has told just-auto that Opel and Vauxhall's forthcoming convertible will have its world premiere at next month's Paris motor show.
News
2 Aug, 2012
Prices and specs have been announced for the new hybrid Mercedes E-Class
Honda's new Earth Dreams engine family will debut in the redesigned
Prospective Saab purchaser, National Electric Vehicle Sweden (NEVS), says it has undertaken several interviews for C level positions for the new EV manufacturer, with the clock ticking on any finalising of its bid.
General Motors' second quarter net profit plunged US$1bn to $1.5bn, or $0.90 per share from $2.5bn, or $1.54, the previous year as the loss in Europe grew from an EBIT-adjusted $0.1bn in Q2 2011 to $0.4bn this year.
GM today posted a smaller second-quarter loss in Europe than expected by analysts. The automaker said it could not predict when its operations in the region will return to profit. Analysts say they expect GM to lose between $1.4 billion to $1.
Continental raised forecasts for revenue and profitability this year after a decline in raw-material costs and growth in sales helped second-quarter profit.
Suzuki Motor first fiscal quarter net profit rose 30.6% year on year to JPY24.5bn (US$312m) as strong domestic sales offset the strong yen.
Lear's second-quarter earnings fell 18 percent because of "challenging" business conditions in Europe, the supplier of seats and electric power management systems said today.
General Motors today said net profit fell sharply in the second quarter, as widening losses in Europe partially offset 'solid' earnings in North America. Net income for the April-June period dropped 41 percent to $1.49 billion.
Visteon Corporation reported second quarter 2012 net income of US$75m, or $1.40 per share, up from $26m, or $0.50 in Q2 2011.
AutoNation said new vehicle sales to retail customers in the United States rose 14 percent in July -- well ahead of the national sales gain of 9 percent.
Supplier Visteon reported a slump in sales and cut its earnings forecast for the year, citing lower vehicle production in Europe, South America and China.
Toyota will boost global production by about 300,000 units this year as it expects sales growth mainly in the US and emerging markets.