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Europe’s slow recovery triggers pessimistic expectations from carmakers


During the 2013 IAA Frankfurt Motor Show, top executives of carmakers warned they need to close more factories and cut more jobs – as unemployment remained high and bank lending weak, any recovery in demand is likely to be long and slow. According to bosses of automakers including Volkswagen, PSA Peugeot Citroen, and Ford Europe, the sales in Europe appear to ...
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GM Expects Slight Increase in Operating Profit in 2013
GM said that he expects 2013 operating profit to see a modest increase in each region, but greater demand in China and the US. "We're very much focused on this huge ...
Ford doubles dividend to 10 cents a share amid record profit margins
Ford doubled its quarterly dividend to 10 cents a share after record profit margins boosted its cash reserves. The second-largest U.S. automaker announced its first-quarter dividend will be payable March 1 ...
Porsche Pajun gets green light
Porsche is determined to approve the Pajun project after more than a year of research and debate, company insiders told Autocar. The Pajun, a sub-Panamera model, would rival the BMW 5-Series ...
Ford’s Profit Drops as Customers Turn to Small Cars
Ford announced its record profit margins are dropping in North America as customers turn from trucks to small cars. “We continue to see consumers trading down to smaller vehicles,” Mark Fields, ...
Daimler investors unhappy with Mercedes’ sales and profit targets
Daimler investors are not too happy with Mercedes-Benz' ambitious sales and profit targets. According to the Detroit News, many investors believe Mercedes' long-term sales and profit targets are impossible to meet ...
Daimler to miss its 2012 profit forecast by €1 billion
Daimler warned on Wednesday that it would miss its profit forecast in 2012 by about 1 billion euros and would not be able to improve profit margins next year as ...
GM looking to cut white-collar jobs in North America
General Motors has reportedly hired a management consultant firm to identify areas to cut an undetermined number of white-collar jobs. According to two people familiar with the matter quoted by Bloomberg, ...
Ford F Series tops list of most profitable cars
Ford's F Series pick-up truck is the world's most profitable model of modern times, according to Bernstein Research in London. Analyst Max Warburton and his team came up with a list ...
Chinese automaker BYD Co. reports profit decrease of 86% YOY
For the firs nine months of 2011, B.Y.D. Co reported a 86% fall in profit compared to last year and for sure isn’t the only car maker affected by diminishing ...

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