Earnings/Financials


VIDEO: With F1 program scrapped, where will Toyota Motorsports land next?

As Toyota president Akio Toyoda announced the withdrawal of his company from the Formula One World Championship, he reiterated Toyota's commitment to motorsport competition. But while this may have been pure lip-service, the Japanese automaker has a long history in racing, leading to speculation over where Toyota could land next. According to Toyoda: Motor sports remain an important means of personalizing the automobile in the eyes of customers. Motor sports also remain an important means of cultivating human resources and our R&D ... Read more →

GM's Liquidation Motors stock reportedly still worth $370M, can't be sold short Jonathon Ramsey

When General Motors entered into Chapter 11 bankruptcy over the summer, its bad assets were moved into a firm called Motors Liquidation Company (MLC). That company was capitalized with more than 600 ...

Autoblog Podcast #151: With Eddie Alterman of Car and Driver Dan Roth

Abuelsamid, Lieberman, Roth and Shunk. Sounds like a law firm, but it's this week's podcast crew. Car and Driver editor-in-chief Eddie Alterman bravely wades into the pool and joins us for ...

Ford posts $1 billion in profit, surprisingly good third quarter report Jeremy Korzeniewski

Surprising news comes courtesy of Ford this morning in the form of an unexpectedly good third quarter report. The Blue Oval posted $997 million in positive net income over the third quarter, which ...

REPORT: Fritz says GM doesn't need any further aid from Washington Jonathon Ramsey

Fritz Henderson went to Washington to have a word the folks who wrote the $50 billion check to keep General Motors alive. While there, he answered a few questions put forth from The Washington ...

Edmunds: Cash for Clunkers cost taxpayers $24k per car, not $4k 9 days ago on Autoblog

There is little doubt that Cash for Clunkers gave auto sales a big boost in late July and most of August, but there has been considerable debate as to how much help taxpayers' $3 billion provided. Customers who purchased a new car or truck were rewarded in many ways, especially when you consider ...

Swedish report says Koenigsegg wants to sell fewer Saabs for more money 11 days ago on Autoblog

Just because Koenigsegg is working to by Saab doesn't mean that the maker of million dollar coupes plans to spend time in the mass-market end of the buying pool. In fact, according to Swedish newspaper Dagens Industri, Koenigsegg wants to make more money selling fewer Saabs, which it can only do ...

REPORT: J.D. Power predicts October car sales will be down just 6% 11 days ago on Autoblog

October is coming to a close, which means we're within a few days of getting the bad news monthly auto sales tally. But October may not look as bad as many feared, at least according to the latest study by J.D. Power. The industry forecasting gurus see October sales down only six percent versus ...

Russian PM Putin reportedly tells Renault to put up or get out 11 days ago on Autoblog

It seemed like a good idea at the time, but with hindsight being 20-20, how many failed ventures can be summed up by that same excuse? Just last year, Russia was looking to foreign investors as one of the most promising emerging markets in the world. Renault got locked into a bidding war with ...

REPORT: Chrysler Financial to wind down by 2011, executive pay, well, not so much 13 days ago on Autoblog

Cerberus submitted its plans for Chrysler Financial to the U.S. Treasury, and then in an announcement that came as a surprise to Cerberus itself, the Treasury said that Chrysler Financial would be shutting down by December 31, 2011. The lending arm paid back its $1.5 billion loan from the ...

REPORT: Nissan ready to say "Mission Accomplished" on recovery work 13 days ago on Autoblog

Some companies respond to "losing money at a frightening pace" by studying the problem at length as they continue to lose more money, by asking for more money or, in the worst cases, not doing anything at all. Nissan didn't do any of those things: after posting a loss of $2.4 billion in the ...

REPORT: Geely's plans to buy Volvo from Ford unravelling over intellectual property concerns? 14 days ago on Autoblog

Ford has been trying to offload the Volvo brand since December of 2008, but after years of rumors and speculation those 10 months feel more like a decade. China's Geely has been speculated as the number-one bidder for the Blue Oval's Swedish luxury brand, but a report by Bloomberg asserts that ...

REPORT: Hyundai may extend Assurance program, go after fuel economy crown 16 days ago on Autoblog

If you haven't noticed, Hyundai's been on a multifaceted tear lately. Earlier this year, Hyundai came out with its Hyundai Assurance Program, letting customers return their cars if they suffered a loss of employment. CEO John Krafcik confirms that Hyundai Assurance is staying until the end of 2009, ...

Volkswagen to buy 49.9% of Porsche in first stage of merger 16 days ago on Autoblog

The days of Porsche being an independent automaker will soon be drawing to a close. Volkswagen has announced that it is ready to move ahead with the first stage of its buyout of the smaller company that had tried to do the same thing to it just a short while ago. Back in August when the VW board ...

REPORT: First step of Saab salvation complete, EIB to give €400m loan 16 days ago on Autoblog

Like Great Britain, Sweden never switched over to the Euro – they still deal in kroners. Therefor, In order to keep Saab afloat after being jettisoned by General Motors, new owner Koenigsegg Group has determined that it needs a loan of about 415 billion kroners to keep the flood waters ...

Buell will be back? County officials throwing axed HD brand a life line 17 days ago on Autoblog

Could Buell be saved from the brink of disaster by officials from Walworth County in Wisconsin? It seems awfully unlikely, but stranger things have happened, right? Apparently, the Walworth County Economic Development Alliance sent a letter last Friday to Erik Buell in an attempt to put together a ...

Edmunds: GM market share will grow in October 20 days ago on Autoblog

According to the number-crunchers over at Edmunds.com, things are looking up for General Motors in the month of October. If preliminary figures hold up, The General's market share should come in at 22.4 percent, a notable gain from the 19.1 percent share the automaker averaged throughout the ...

Harley-Davidson kills off Buell, will sell stake in MV Agusta [w/VIDEO] 23 days ago on Autoblog

Harley-Davidson has just announced its third-quarter results, and things aren't quite as bad as they could have been... but we'll get to that in a moment. The big bombshell is that the Buell brand is being discontinued and the American motorcycle manufacturer will sell off its share in MV ...

Rumormill: Volkswagen interested in Ducati... still 23 days ago on Autoblog

Rumors of a possible motorcycle brand for Volkswagen aren't anything new. It's a well-known fact that Ferdinand Piëch, Chairman of Volkswagen's Board, wishes that the German automaker had purchased Ducati back in 1985 when the Italian bike manufacturer was in dire financial shape. As ...

How Thoughtful: Lamborghini offering 0% financing on new Murciélago LP640 models 23 days ago on Autoblog

A Lamborghini Murciélago LP640 starts at around $350,000 and can quickly crest $400,000 with the addition of a few options and a dropable top, and the LP640-4 starts at $450,000. That's a lot of coin to be sure, but in the spirit of pulling together to ride out this whole "recession" ...

REPORT: Dollar Thrifty to cut percentage of Chrysler products from as much as 76% to 30% 24 days ago on Autoblog

Dollar Thrifty Automotive Group, known in the retail world as Dollar Rent A Car and Thrifty Car Rental, will be buying about 40,000 fewer Chryslers than it did last year. Previously, the company was contractually bound to ensure that 75% of its fleet was composed of Chrysler vehicles. After the ...

STUDY: Used car prices reached all-time high in September 24 days ago on Autoblog

New car sales have been in a downward spiral for over a year now, and the big beneficiaries appear to be used cars (and repair shops). A study by Manheim Consulting shows that the company's Used Vehicle Value Index has risen to a record high of 118.5 in the month of September, up 1.8% versus ...

Top Gear faces mounting criticism over costly new stunts. Again. 25 days ago on Autoblog

Top Gear fans greet each new season with more eager glee. Top Gear critics have taken to welcoming each new run with more criticism. According to the Belfast Telegraph, the latest "How dare they!" comes from a Minister of Parliament (MP) and Friends of the Earth, who want to run TG up the flagpole ...

The Show Must Go On: Italy's Bologna salon forges ahead without automakers 25 days ago on Autoblog

Local auto shows overseas like the one in Bologna don't really make a blip on our radar screens. Manufacturers might, upon occasion, use the venues to unveil a new product variant of generally limited consequence, but aside from the big shows in the United States, the significant foreign debuts ...

REPORT: Ford's Euro sales crest 10% for the first time in 8 years 25 days ago on Autoblog

New products, improved quality and a surge in public perception have helped Ford buttress its sales numbers here in the U.S., but the Dearborn-based automaker also has a good story to tell across the Pond. According to The Detroit News, Ford managed to grab 10.1% of Europe's overall market share ...

REPORT: GM close to offloading Hummer for as little as $150 million 29 days ago on Autoblog

Not so many years ago, Hummer appeared to be one of General Motors' most potentially lucrative brands. Now, the fallen brand looks poised to fall into the hands of the Chinese very soon. Bloomberg is reporting that a deal to sell Hummer could be finalized in the coming days as Sichuan Tengzhong ...

REPORT: Delphi exits Chapter 11 bankruptcy 1 month ago on Autoblog

For the first time in a very long while, you might say that Delphi is ahead of the curve. At a time when a number of automotive suppliers are finding life tough enough to file for Chapter 11 bankruptcy, Delphi is finally emerging from its own four-year-old filing. Delphi's financial savior is ...

REPORT: Mazda looking to raise $1.1B to catch up in hybrid race 1 month ago on Autoblog

According to a report from Reuters, Mazda plans to raise up to $1.1 billion (95.9 billion yen) by issuing 315.2 million new shares and selling 96.8 million treasury shares. The resulting funds are to be reinvested in the company, mainly for research and development into hybrids and other ...

To Chuanfu! Thanks for Everything, Warren Buffett 1 month ago on Autoblog

Wang Chuanfu (above), the founder of Chinese battery manufacturer and automaker BYD is reportedly the richest man in all of China. Already a wealthy man, Bloomberg reports that Chuanfu has jumped a startling 102 places to land himself atop Hurun Rich List, an annual wealth index chronicling the ...

REPORT: Toyota chief admits company is in rough shape, "grasping for salvation" 1 month ago on Autoblog

Akio Toyoda appears to have brought with him the art of plain speaking to the office of company president, a position he's occupied at Toyota since June. Like most every other automaker these days, Toyota has been struggling, having seen its sales targets slip from 10 million units to a 2009 ...

VIDEO: Saturn's demise? We blame Jim Gaffigan* 1 month ago on Autoblog

When the deal to sell Saturn to Penske Automotive fell through, there were likely a lot of surprised people at General Motors' Detroit, MI headquarters. Penske released a statement saying that the reason the deal fell through after months of good faith negotiations was that a suitable post-GM ...

Fiat/Chrysler CEO Sergio Marchionne steps down from UBS bank board 1 month ago on Autoblog

Sergio Marchionne is one of the busiest people in the business. Or any business, for that matter. After comprehensively restructuring his empire – what amounts to nearly the entire Italian automobile industry and then some – he lost his right-hand man to Volkswagen. But that didn't ...

REPORT: Hertz files defamation suit against analyst who says company could go bankrupt 1 month ago on Autoblog

Founded in 1918 with a fleet of just twelve Ford Model Ts, Hertz Global Holdings Inc. has grown into the world's largest rental car company with nearly 8,000 offices worldwide. According to to Reuters, on Friday, the company filed a lawsuit against Audit Integrity Inc. and its chief executive, Jack ...

REPORT: Aston Martin in jeopardy as parent company Investment Dar in financial turmoil 1 month ago on Autoblog

Is Aston Martin on the brink of insolvency? Britain's Guardian is reporting that the Kuwaiti fund that owns half of Aston is having trouble refinancing the debt it's incurred during the recent global economic crisis. It hasn't help that the fund failed to report its 2008 financial records on ...

REPORT: General Motor still on track for 2010 IPO 1 month ago on Autoblog

While defending the government bailout of America's auto industry, Herb Allison (above), the Treasury Department's assistant secretary for financial stability, said that a General Motors initial public offering is still a go for next year. While Allison still believes it was essential to ...

Tata confirms closing of Jaguar or Land Rover plant 1 month ago on Autoblog

When the economy gets dinged, luxury vehicles gets massive dents. Jaguar and Land Rover haven't been the most profitable aut for a while, and parent company Tata is studying which of two plants it would shut to try and stem some of the losses; Solihull or Castle Bromwich. It sounds drastic, ...

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Autoblog Podcast #151: With Car and Driver's Eddie Alterman

Eddie Alterman wades in with Sam, Chris, Dan, and Jonny to talk about SEMA and other recent events.

 
 

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