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  • July 29- AutoNation Inc Chief Executive Mike Jackson told Reuters the U.S. auto dealership chain will continue reducing stocks of unsold vehicles at its stores, responding to signs that U.S. vehicle sales growth has hit a plateau. "We still have work to do on inventory," Jackson told Reuters after the company reported second-quarter earnings from continuing...

  • FRANKFURT/ BUDAPEST, July 29- Daimler AG said on Friday it would build a new factory in Hungary to make Mercedes-Benz cars, giving a major boost to the local economy and raising the competitive pressure on the luxury automaker's established plants in Germany. The new factory will be the first plant capable of producing both compact cars and larger limousines,...

  • BUDAPEST, Hungary— Automaker Daimler's Mercedes-Benz brand says it will build a new manufacturing plant in Hungary by the end of the decade, investing 1 billion euros and creating 2,500 new jobs. Markus Schafer, head of production and supply chain management at Mercedes-Benz Cars, said the new factory would use a flexible work flow, allowing the assembly line to...

  • NOVI, Mich. _ Cooper-Standard Holdings Inc. on Thursday reported second-quarter earnings of $40.9 million. Cooper-Standard expects full-year revenue in the range of $3.4 billion to $3.43 billion. Cooper-Standard shares have risen 13 percent since the beginning of the year.

  • DETROIT, July 28- Ford Motor Co on Thursday declared the U.S. auto industry's long recovery is at an end, sending its stock and those of rival auto companies tumbling. "The growth is over," Ford Chief Financial Officer Robert Shanks told Reuters in an interview. Ford's warning put at center stage a debate that has been running for months in Detroit about how much...

  • EVERETT, Wash.— A Snohomish County used car company will pay $250,000 in restitution over a pattern of discrimination against Spanish-language speakers, according to the state attorney general's office. As part of the settlement, Zein Automobiles Inc. of Everett, which operates Best Bet Auto Sales and Independence Auto Center, will pay for misrepresenting...

  • DETROIT, July 28- Ford Motor Co on Thursday declared the U.S. auto industry's long recovery is at an end, sending its stock and those of rival auto companies tumbling. "The growth is over," Ford Chief Financial Officer Robert Shanks told Reuters in an interview. Ford's warning put at center stage a debate that has been running for months in Detroit about how much...

  • Morgan Stanley building in New York

    Ford's earnings miss could be a watershed moment for the industry, Morgan Stanley's Adam Jonas says.

  • BUENOS AIRES, July 28- Argentina's industrial output contracted 6.4 percent in June compared with the same month last year, national statistics agency Indec said on Thursday, underlining the nation's difficulties in jump-starting a much-anticipated market turnaround. Since taking office in December 2015, Argentina's center-right President Mauricio...

  • WASHINGTON— Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases personal income and spending for June, 8:30 a.m.. TOKYO— Honda reports fiscal first quarter results.

  • July 28- The S&P 500 index and the Dow edged lower on Thursday as investors fretted about weak economic data and disappointing earnings from Ford. The carmaker reported weak China sales and declared that the U.S. auto industry's long recovery was at an end, triggering a 9.6 percent fall in its shares. A report by the U.S. Labor Department showed that the number of...

  • DETROIT, July 28- Ford Motor Co reported weaker-than-expected profit in the second quarter and declared that the U.S. auto industry's long recovery was at an end, sending its stock and those of other auto companies tumbling. Ford shares slumped nearly 10 percent in morning trading on Thursday, after Chief Financial Officer Bob Shanks told reporters the U.S....

  • TOKYO/ BERLIN, July 28- Toyota Motor Corp reported a drop in first-half vehicle sales on Thursday following a series of production stoppages, falling behind Volkswagen which became the world's top-selling carmaker in the first six months of 2016 despite its emissions scandal. Europe's largest automaker said on Thursday it expected full-year sales to come in...

  • July 28- Harley-Davidson Inc on Thursday said a decrease in total sales and soft domestic demand lowered second-quarter profit and has led the company to trim its forecast for motorcycle shipments in 2016.. While our share gains helped to blunt the full impact of this weak market, lackluster industry sales have had a significant impact on our results and our...

  • The popularity of leasing has shot up to a historic high: 31 percent of all new cars driven off the lot are now leased, according to data from financial services firm Experian. Even used cars are being leased, although Experian says it's only at 3.98 percent. "This is going to be a fantastic time to lease," says Steven Szakaly, chief economist for the National Automobile...

  • July 28- Harley-Davidson Inc on Thursday reported second-quarter earnings that beat estimates, but the motorcycle manufacturer trimmed its shipment outlook due to soft demand in the United States, its biggest market. Earnings per share increased to $1.55 from $1.44 a year ago and topped analysts' expectations of $1.53. Chief Executive Officer Matt Levatich...

  • July 28- Harley-Davidson Inc on Thursday reported second-quarter earnings that beat estimates, but the motorcycle manufacturer trimmed its shipment outlook due to soft demand in the United States, its biggest market. Earnings per share increased to $1.55 from $1.44 a year ago and topped analysts' expectations of $1.53. "While our investments to grow product...

  • July 28- Harley-Davidson Inc on Thursday reported second-quarter earnings that beat estimates, but the motorcycle manufacturer trimmed its sales outlook due to soft demand in the United States, its biggest market. Earnings per share increased to $1.55 from $1.44 a year ago and topped analysts' expectations of $1.53. "While our investments to grow product...

  • AUBURN HILLS, Mich. _ BorgWarner Inc. on Thursday reported second-quarter net income of $164.4 million. BorgWarner expects full-year earnings to be $3.16 to $3.32 per share. BorgWarner shares have declined 21 percent since the beginning of the year, while the Standard& Poor's 500 index has increased 6 percent.

  • VAN BUREN TOWNSHIP, Mich. _ Visteon Corp. on Thursday reported second-quarter net income of $26 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share. Visteon shares have fallen 40 percent since the beginning of the year.