Group 1 Automotive Inc., the No. 4 U.S. auto dealership, has been looking at possible acquisitions over the past few months and would consider buying more Ford Motor Co. dealerships, CEO Earl Hesterberg said today.
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Anybody who thinks starting an automotive venture is a young man's game hasn't been following the career of Jim Perkins.
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Ford on Monday announced third quarter net income of US$997m, up $1.2bn from the third quarter of 2008, pre-tax operating profit up $3.9bn to $1.1bn - its first pre-tax operating profit since the first quarter of 2008 - and an operating profit of $357m at its North America operations, the first quarter in the black since Q1 2005. It has also revised its full-year 2011 guidance for total company and North American automotive operations from "break even or better" to "solidly profitable", pre-tax.
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Talk about a one-horse race! The latest Mustang is the runaway star of the SEMA automotive modification show in the US.Seven Ford-backed tuner versions of the 2010 model ‘pony car’ are turning heads at this week’s annual Las Vegas extravaganza, heaping extra visual and engineering muscle on to the standard coupé.
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Belgian foam maker Recticel said today that two of its U.S. subsidiaries filed for Chapter 11 bankruptcy protection from creditors due to the crisis in the U.S. automotive market.
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Belgian foam maker Recticel said today that two of its U.S. subsidiaries filed for Chapter 11 bankruptcy protection from creditors due to the crisis in the U.S. automotive market.
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Penske Automotive Group, the No. 2 U.S car dealership group by sales, reported a 23 percent increase in third quarter earnings today on cost-cutting and a boost from the U.S. government's cash for clunkers program. Net income rose to $27.
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Penske Automotive Group reported a 23 percent increase in third-quarter profit today and said it is open to lining up new distribution contracts now that its bid for GM's Saturn has fallen through.
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Reviewing the Audi R8, it's hard not to gush performance specs like a 14-year-old watching a Top Gear marathon on YouTube. Celebrated worldwide by automotive media and enthusiasts, the speed, buzz, and styling of this machine are all undeniable. It's become something of a big-screen star lately, too.
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NIAGARA-ON-THE-LAKE, ON, - Seventy of Canada's top automotive journalists spent this week in the picturesque tourist town of Niagara-on-the-Lake; but not for the scenery or the wine tasting. Journalist members of the Automobile Journalists Association of Canada (AJAC) were here for the express purpose of determining the 'Best New' cars, trucks and SUV/CUVs in 12 different vehicle categories, as part of AJAC's annual Canadian Car of the Year Awards program.
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Mahindra & Mahindra has reported a surge in its second quarter profits on the back of a strong performance at both its automotive and farming divisions.
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Asbury Automotive Group Inc. posted a 35 percent increase in third-quarter earnings, days after the company said it would restore top executives' pay to pre-cutback levels. The dealership group's net income rose to $7.4 million, from $5.
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Dealership group Asbury Automotive Group Inc. said today quarterly earnings rose 34.5 percent as cost cuts and inventory reductions more than offset a drop in new vehicle sales. Net income rose to $7.
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Volkswagen said today its 9-month operating profit fell to 1.5 billion euros from 4.9 billion euros last year, hit by losses at its Seat and Bentley brands. VW said net liquidity in its automotive division increased to 13.4 billion euros.
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The fourth largest US dealer group, Group 1 has posted a quarterly profit double that of a year ago but has a cautious outlook for the current quarter. Third largest Sonic Automotive also reported a third quarter profit compared with loss in 2008 after refinancing debt late in September.
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(TORONTO) - Announced at a luncheon in St. Catharine's today, SCION the automotive brand that maximizes personal expression will bust the performance and style conventions when it arrives at 45 SCION Dealers in Montreal, Toronto and Vancouver in September, 2010.
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The Malaysian government wants to deregulate its auto industry as it tries once again to find an overseas partner for loss-making Proton. On Wednesday, it unveiled its National Automotive Policy which sets a framework to deregulate the industry and end a system of import permits.
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Fisker Automotive has selected the Wilmington Assembly plant in Wilmington Delaware to build affordable plug-in hybrid cars.
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Fisker Automotive on Tuesday confirmed earlier speculation by announcing it will build plug-in hybrid cars at a former General Motors plant in Wilmington, Delaware.
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