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Automobiles and Components

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  • July 28- Ally Financial Inc, the largest U.S. auto lender, reported a better-than-expected quarterly profit and record U.S. auto sales boosted lending, making up for a loss of an exclusive leasing deal with General Motors Co. Shares of Ally were up 4.8 percent at $22.59 in morning trading on the New York Stock Exchange. The company has been trying to boost its market...

  • An employee walks past a Ford logo at a Ford factory in Dagenham, England.

    Ford Motor delivered quarterly earnings that topped analysts' expectations on Tuesday, helped by continued strength of its North American sales.

  • It's not New York, but Ota, a town north of Tokyo with an economy powered by Japanese automaker Subaru. It's here that Subaru's parent company, Fuji Heavy Industries Ltd, got its start building engines and the Hayate fighter plane for the Imperial Army in the 1940 s. A recent influx of foreigners has transformed the Subaru hub, making it a rare example of...

  • The top executive at the maker of Subaru automobiles joked that he would have to wear a helmet on an upcoming trip to the United States. Subaru's U.S. sales have almost doubled in the past four years. Subaru's " Love Promise," in which it pledges to make "a positive impact in the world," has helped build loyal consumers in states like California, New York and Washington.

  • A Chrysler Ram 1500 truck goes through inspection at the Warren Truck Assembly Plant in Warren, Michigan.

    General Motors is investing $5 billion in a new family of vehicles targeting many of the world's fastest-growing emerging auto markets.

  • MUNICH/ TOKYO, July 28- Volkswagen overtook Toyota as the world's largest carmaker by sales in the first half year, achieving its long-held ambition three years ahead of target. But staying on top will be a challenge for the German maker of the Golf and Polo, as deliveries are falling in China, destination of a third of its global sales, making it overly reliant on...

  • General Motors decided to replace Ally with its current in-house financing arm, General Motors Financial Co Inc, for subsidized leases on Buick, GMC and Cadillac vehicles, beginning February. The company reported a net income of $182 million, a loss of $2.22 on a per share basis, compared with a year-ago profit of $323 million, or 54 cents per share.

  • Classic car collecting... bubble or new age?

    CNBC's Robert Frank talks with Dave Magers, Mecum Auctions CEO about the upcoming Pebble Beach car auction and the best-performing collectible cars.

  • July 28- Sirius XM Holdings Inc raised its full-year forecast for revenue and subscriber additions for the second time in a row, citing strong U.S. auto sales. The company also raised its revenue forecast for 2015 to $4.5 billion from $4.47 billion earlier. The company's net income fell to $102.8 million in the second quarter ended June 30, from $120 million a year...

  • DEARBORN, Michigan— Ford Motor Co.' s net income jumped 44 percent to $1.9 billion in the second quarter as global sales rose and customers paid more for new trucks and SUVs with premium features. Ford pulled off a record quarterly profit of $2.6 billion in North America even though dealerships weren't fully stocked with its best-selling vehicle, the F-150...

  • Ford posts earnings beat, cuts China forecast

    CNBC's Phil LeBeau breaks down the automaker's better-than-expected quarterly numbers which beat on earnings but was light on revenue.

  • PARIS, July 28- French and German armoured vehicle makers Nexter and KMW are to seal their long-planned merger on Wednesday, the French defence ministry said, combining the Leclerc and Leopard tank brands to compete with the U.S.-made Abrams and Britain's Challenger. The merged company will be 50 percent owned by the French government through GIAT Industries...

  • China slowdown is no surprise: Michelin CEO

    Jean-Dominique Senard, CEO of Michelin, says the second half of 2015 should bring a stronger tailwind for Michelin, after reporting earnings.

  • Sales were robust in Europe and North America but fell in China, usually a strong market for the company. Detroit- based General Motors Corp., the top-selling automaker for more than seven decades until being surpassed by Toyota in 2008, finished third at 4.86 million, down 1.2 percent from a year ago. In the first half, Toyota's sales grew in U.S., Mexico and China.

  • DETROIT, July 28- General Motors Co said on Tuesday it will invest $5 billion over the next several years to develop with its Chinese partner a new family of Chevrolet vehicles aimed at fast-growing emerging markets, in the process offering investors a fresh rationale for rejecting a merger with Fiat Chrysler Automobiles NV. GM and SAIC will engineer Chevrolet...

  • Record fine against Fiat Chrysler Monday, 27 Jul 2015 | 3:22 PM ET
    Record fine against Fiat Chrysler

    CNBC's Phil LeBeau, and Anthony Foxx, Secretary of Transportation, discuss the $105 million fine for Fiat Chrysler's relating to the handling of its vehicle recalls.

  • That beats the old record of $70 million assessed against Honda Motor Co. for lapses in reporting deaths and injuries to safety regulators. FCA's fine includes $70 million in penalties, at least $20 million to meet performance requirements and $15 million if an independent recall monitor finds any further violations. Fiat Chrysler shares traded in the New...

  • *Fiat Chrysler shares fall nearly 5 pct in New York. DETROIT, July 27- Fiat Chrysler Automobiles could pay billions of dollars to buy back defective trucks as part of a settlement with U.S. safety regulators, but has the option to recover costs by reselling vehicles once they are repaired. FCA said on Monday that about 193,000 Ram trucks previously recalled for...

  • TOKYO, July 27- The president of Mitsubishi Motors Corp said Japan, Southeast Asia and Russia will become the automaker's principal production hubs after it quits making cars in the United States later this year because of dwindling sales there. "Japan, ASEAN, and Russia will be the main points of production for our company," said Tetsuro Aikawa, president and chief...

  • Fiat Chrysler will pay: Except with sales Monday, 27 Jul 2015 | 12:59 PM ET
    A Fiat Chrysler Jeep Grand Cherokee is seen on a sales lot in Miami.

    Fiat Chrysler's record fine will not break the automaker. Nor is it likely to hurt sales, according to one market analyst.