AutoNation's net income dropped 16 percent to $97.5 million in the fourth quarter, even as revenues rose 5.8 percent to $5.34 billion, the company said today. The decline was due largely to increased discounting and per-vehicle margin pressure.
Ford said it had booked record full year pre-tax profit of US$10.8bn (up $3.5bn) in 2015 and net income of $7.4bn (up $6.1bn) on revenue up $5.5bn to $149.6bn. Fourth quarter pre-tax profit rose 96% to $2.6bn. Wholesale vehicle shipments rose 312,000 units to 6,635,000. Better yet, Europe returned to pre-tax profit for the first time in years.
Ford's net income quintupled in 2015 to $7.4 billion, including $1.9 billion in the fourth quarter, as sales of its high-margin pickups and SUVs surged in a record year for the U.S. auto industry.
Ford is to add 2017 F-Series Super Duty chassis cab production at its Ohio Assembly Plant, supplementing output in Kentucky.
French automotive suppliers association, FIEV, says there is huge potential for its members in Iran given the recent lifting of sanctions and the latent pent-up demand in the 80m-strong country, which could see the country achieve 3m volume by 2025.
French automotive suppliers association, FIEV, says there is huge potential for its members in Iran given the recent lifting of sanctions and the latent pent-up demand in the 80m-strong country.
VW CEO Matthias Mueller cast doubt on a newspaper report that said many managers at the automaker knew of, or were involved in, developing emissions test-rigging devices.
BMW Group is recruting about 30 young people for apprenticeships at its three key UK manufacturing sites in 2016.
Opel will recall the Adam and Corsa to fix steering components that could break, making it more difficult to control the vehicles.
Opel/Vauxhall said its GT Concept that will be unveiled at the Geneva auto show is unlikely to go into production. Opel released images of the concept for a small sports coupe.
Renault group LCV sales in 2015 rose 12.4% year on year to 387,000 units, despite a 6.3% dip in the total market, North America excluded. Its share of the global LCV market was 3.76%, an improvement of 0.63 points over 2014.
Toyota and Daihatsu will decide at board meetings on Friday if Toyota will make the minivehicle maker a wholly owned subsidiary, Reuters reported. Toyota already owns a 51.2 percent stake in the smaller automaker.
Takata is preparing the ground for the exit of its CEO, Shigehisa Takada, Reuters reported, as pressure builds on the airbag maker following a huge global recall over faulty inflators that can explode with excessive force.
VW Group won approval for the first stage of its recall of 8.
PSA Peugeot Citroen and IKCO have announced a 50:50 joint venture, which will see a Tehran facility established to produce vehicles, whose platform the Iranian company will share to develop its own models.
PSA/Peugeot-Citroen and its long-time Iranian partner will invest $435 million upgrading their auto plant near Tehran to produce 100,000 vehicles a year. The revamped factory will make the Peugeot 208 hatchback, 301 sedan and 2008 crossover.
News
28 Jan, 2016
Famed BMW tuner Alpina works its magic on 2016 7 Series, with the super-saloon set to debut at Geneva show in March
Automatic braking systems were shown in a new study to reduce rear-end crashes by about 40 percent on average, handing added momentum to a push by safety groups, regulators and some automakers to equip all new cars with the technology.
PSA named former Yahoo executive Brigitte Cantaloube as the automaker's first chief digital officer to help spearhead the company's "digital transformation."
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