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Top News & Analysis Detroit

  • "The transformation of the auto industry at the heart of our strategy," said Kevin Clark, Delphi president and chief executive officer, in a conference call with analysts on Wednesday. Delphi, which is refocusing much of its future business on self-driving vehicles and advanced safety systems, said it expects full-year revenue of $16.85 billion to $17.05...

  • Aug 2- AutoNation Inc, the largest U.S. auto retail chain, on Wednesday reported a 21.8- percent fall in quarterly profit, hurt by lower new vehicle sales, and the company's shares fell 4.4 percent in early New York trading. New car retail sales at the Fort Lauderdale, Florida- based company dropped 6.7 percent to 79,892 units, in the second quarter.

  • The company said it expected full-year adjusted earnings of $6.55 to $6.75 per share, up from its previous forecast of $6.40 to $6.70 per share. Delphi which has been focusing on self-driving vehicles through partnerships, investments and acquisitions said it expects full-year revenue of $16.85 billion to $17.05 billion. Income from continuing operations...

  • DETROIT, Aug 1- U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as the overall pace of U.S. car and light truck sales fell for the fifth straight month. The annualized pace of U.S. car and light truck sales in July fell to 16.73 million vehicles, down from 17.8 million vehicles a year earlier, according to Autodata...

  • Aug 1- U.S. vehicle sales in July fell to a seasonably adjusted annual rate of 16.69 million, according to Wards Auto. The July SAAR was up marginally from 16.59 million in June, but down from 17.75 million in July 2016. U.S. auto sales last year reached a record 17.55 million.

  • DETROIT, Aug 1- U.S. carmakers said on Tuesday they continued to slash sales to daily rental fleets in July as General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles struggled to curb a slide in retail sales during the month. July is on track to be the fifth straight month this year in which the annual pace of car and light truck sales declined from the same...

  • DETROIT, Aug 1- U.S. carmakers said on Tuesday they continued to slash sales to daily rental fleets in July, as General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles reported lower overall sales during the month. GM sales dropped 15 percent from a year ago, to 226,107, as the company cut rental fleet sales more than 80 percent. The automaker said inventories...

  • DETROIT, Aug 1- Fiat Chrysler Automobiles said on Tuesday its U.S. vehicle sales dropped 10 percent in July, to 161,477, as it cut back sales to daily rental fleets. General Motors Co said on Tuesday it slashed July sales to rental car fleets in the United States by 80 percent from a year ago to just over 2,700 vehicles, while increasing sales to commercial fleets.

  • Steve Von Foerster who almost got arrested for his noisy Mustang

    A brush with the law has led to an innovative new development on Ford's latest Mustang.

  • July 31- Ford Motor Co Chief Executive Jim Hackett is reviewing the automaker's operations in India and other markets, as well as Ford's future product programs including plans to build a self-driving commercial vehicle in 2021, according to company officials and other sources familiar with that review. Ford Chief Financial Officer Bob Shanks told Reuters...

  • WASHINGTON, July 27- U.S. and California regulators are expected to approve Fiat Chrysler Automobiles request to sell 2017 diesel vehicles, two sources said on Thursday a move that may help the Italian-American automaker win approval for a software fix for older diesel models. In May, the Justice Department sued Fiat Chrysler, accusing it of illegally using...

  • WASHINGTON, July 27- The U.S. Environmental Protection Agency and California Air Resources Board on Thursday approved a fix for 326,000 Volkswagen AG diesel cars, the agencies and the automaker said Thursday. Volkswagen agreed last year to offer to buy back up to 475,000 diesel vehicles with 2.0- liter engines that had been sold in the United States, including...

  • MILAN, July 27- Fiat Chrysler Automobiles Chief Executive Sergio Marchionne will present a new five-year plan in early 2018, he said on Thursday, launching the next stage of a strategic revamp that could also include some asset sales. Since 2014 Marchionne has focused on revamping the sporty Alfa Romeo and luxury Maserati brands and turning Jeep into a global...

  • WASHINGTON, July 27- The U.S. Environmental Protection Agency and California Air Resources Board will approve later on Thursday a fix for more than 300,000 older Volkswagen AG diesel cars, two people briefed on the matter said. Volkswagen and EPA did not immediately comment. Volkswagen agreed last year to offer to buy back up to 475,000 2.0- liter diesel...

  • WASHINGTON July 26- A former Fiat Chrysler vice president was indicted on Wednesday for making $1.2 million in improper payments to a former union vice president and his wife, authorities said. Fiat Chrysler said in a statement the automaker and the United Auto Workers union were the victims of malfeasance by certain of their respective employees....

  • DETROIT, July 26- Ford Motor Co on Wednesday joined rival General Motors Co in reporting higher-than-expected second-quarter profits, and in the next breath warning of a rougher ride for the rest of the year. Ford's new Chief Executive, Jim Hackett, on Wednesday promised investors a rethink of Ford's spending, marketing and investment strategy within his first...

  • WASHINGTON, July 26- The U.S. Transportation Security Administration said Wednesday it will impose new stricter security rules requiring airline travelers to remove all electronic items larger than mobile phones like tablets, e-readers and video game consoles from carry-on baggage for screening. TSA said the new rules have been in place in a pilot project...

  • DETROIT, July 26- Ford Motor Co on Wednesday joined rival General Motors Co in reporting higher-than-expected second-quarter profits, and in the next breath warning of a rougher ride for the rest of the year. Dearborn, Michigan- based Ford reported second-quarter net income of $2.04 billion, or 51 cents per share, up from nearly $2 billion, or 49 cents per share, a...

  • July 25- A Volkswagen AG executive charged in the automaker's diesel emissions scandal plans to plead guilty on Aug. 4 in U.S. District Court in Detroit, a court spokesman said on Tuesday. Oliver Schmidt, who was chief of Volkswagen's environmental and engineering center in Michigan, has been held since January when he was arrested trying to return to Germany.

  • July 25- A Volkswagen AG executive charged in the automaker's diesel emissions scandal plans to plead guilty on Aug. 4 in U.S. District Court in Detroit, a court spokesman said on Tuesday. Oliver Schmidt, who was chief of Volkswagen's environmental and engineering center in Michigan, has been held since January when he was arrested trying to return to Germany.