Earnings/Financials

Mazda once again finds itself in dire financial straits after warning its investors to expect a loss in 2011 of 100 billion yen ($1.3 billion). In an effort to keep itself afloat, the Japanese automaker is rumored to be considering a new issue of as many as 690 million shares, which would raise ...

Automotive industry analysts are projecting sales of over 14.4 million units this year, a lofty figure we originally reported late last year. Unfortunately, it seems that those paid visionaries may be an overly optimistic bunch as the actual sales figures – calculated by outside experts ...

Hiccup or death knell? That's what watchers of California-based automaker Fisker Automotive are trying to figure out after the maker of the Karma plug-in luxury sedan laid off about 65 workers and contractors in Delaware and California while renegotiating loan details with the U.S. Department of ...

General Motors stock is down 45 percent over the last year, which would lead the uninformed to think that the automaker is still losing money by the bucketload. On the contrary, The General pulled in a healthy $7.6 billion in 2011. Does that mother lode of cash make GM a buy for 2012? ...

The Detroit News reports Chrysler is walking away from the company's pursuit of low-interest Department of Energy loans. The automaker originally applied for an $8.55 billion loan when it was still under Cerberus Capital Management, though the figure had since shrunk to $3.5 billion. The DOE, ...

General Motors will freeze the defined benefit pension plans of 19,000 workers on Sept. 30, 2012, shifting them instead into 401(k) plans. Affected workers were all hired before 2001 and are salaried employees. Hourly workers are not affected by this change. Because the retirement plans will be ...

Toyota can attribute much of its uptick in sales last month to fleets. While the automaker saw its sales leap by 7.5 percent compared to a year earlier, Newsday.com reports Toyota sold 47 percent more cars and trucks to fleet customers in the U.S. than in January 2011. Without the fleet sales, ...

General Motors today reported its earnings for last year and the fourth fiscal quarter of 2011. The automaker's profits for 2011 totaled $7.6 billion, up from $4.7 billion in 2010. While the news was excellent for the full year, fourth quarter net income was only $472 million, or about the same ...

Pininfarina is on track in the quest to restructure its debt, according to a report from Reuters. The famed Italian styling house shuttered its manufacturing business in 2011, ending a joint venture with Volvo that had seen Pininfarina assemble the C70, in order to focus on its automotive design ...

For the past decade, Irwindale Speedway has played host to a variety of events including Formula Drift, the Global RallyCross Championship and NASCAR's K&N Pro Series West. The versatility of the facility also allowed for one-off events like Auto Soccer, and the 1/8 mile drag strip was one of ...