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Earnings/Financials

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    Read This: American classic car values falling flat as foreign and exotic marques rise
    1392849060

    Anyone who follows the collector car market will tell you that prices are up, and demand is high. Indeed, Scottsdale's 2014 auction week, highlighted by the festivities at Barrett-Jackson, was a raging success, with numbers that were improved from the previous year in most significant categories. ...

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    Official: Ferrari posts record profits on restricted volume
    1392838260

    Most automakers are after one thing and one thing only: selling more cars. Because, after all, selling more cars means making more money. Right? Well that's usually the case, but Ferrari has taken a different approach. Rather than try and sell more cars, Ferrari intentionally sold fewer models in ...

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    Video: Florida couple drives 13 hours to see their Corvette in museum sinkhole
    1392827460

    It wasn't any easy thing for any Corvette enthusiast to see, but the sinkhole that appeared last week at the National Corvette Museum tore a hole of its own in the hearts of Kevin and Linda Helmintoller. That's because their car was one of the eight Vettes that was sucked into the pit in Bowling ...

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    Report: Embattled Ecclestone no longer trying to buy Nürburgring
    1392678060

    The nearly year-long process to sell the Nürburgring has reportedly entered its final phases, with the historic track's liquidators closing bids on the track on February 17, according to the Rhein Zeitung newspaper. Interestingly, Formula One boss Bernie Ecclestone is rumored not to be among ...

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    Report: Ssangyong may be 3rd Korean brand to sell cars in US
    1392394440

    In the last 20 years, Korean automakers Hyundai and Kia have gone from a laughingstock in the US with poor reliability and bad design to making legitimately competitive vehicles on par with the best in their segment. However, Korean automaker Ssangyong is a name that doesn't roll off the tongue ...

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    Report: Bugatti sitting on $85M stockpile of unsold Veyrons
    1392327000

    There may be trouble brewing with the supercar specialists at Bugatti. The French brand shocked the world with the Veyron when it debuted in 2006, but at eight years old, the hypercar may be getting a little stale to its wealthy clientele. What's worse, Bugatti insiders say a replacement is still ...

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    Report: Volvo eying return to 100k US sales to ensure dealer profitability
    1392318960

    Struggling Volvo may be on a verge of a renaissance thanks to the forthcoming completion of its lauded concept car trilogy, new Drive-E engine family and much-discussed SPA modular platform. Its nascent renewal is mostly being financed by $11-billion in funding from its Chinese parent company, ...

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    Followup: GM's Barra could make more than her predecessor after all
    1392143400

    Reports are coming in that Mary Barra, the first female leader of a major automaker, will make $14.4 million this year, some $10 million more than previously reported and over $3 million more than her predecessor, Dan Akerson, made in 2012. In fact, it's 60 percent more than Akerson made in 2013, ...

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    Report: Toyota nearing $1B settlement of unintended acceleration criminal probe
    1391961720

    According to those all-too-nebulous "people familiar with the matter," Toyota is close to a settlement with the US federal government to end a criminal probe over its long-running unintended acceleration fiasco. Though Toyota has never admitted guilt, the deal could reportedly crest a billion ...

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    Official: GM reports more profits in Q4, fourth straight year of profitability
    1391700540

    General Motors has released its earnings for the fourth quarter, and the news is mostly good. Net income was $913 million, up two percent from $892 million recorded during the same period in 2012. Earnings for the entire year ended up still positive at $3.77 billion, but that figure is down 22.4 ...

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    Report: Toyota nears $40B cash reserve as calls grow for new investment, payouts
    1391628420

    With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or ...

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    Report: Porsche board members facing another €1.8B lawsuit over VW takeover bid
    1391460240

    Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that resulted in it nearly going bankrupt and eventually being ...

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    Report: 2015 F-150 launch to curb Ford profits?
    1391104800

    Ford is making a big bet on aluminum with its new 2015 F-150, and it's possible that the decision will hurt the company financially, at least in the short term. After earning a record $8.6 billion in 2013, the Blue Oval does not expect to set another record in 2014. According to Automotive News, ...

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    Report: Preserving automotive history costs big bucks
    1391040060

    $1.8 million is spent each year to maintain GM's fleet of 600 production and concept cars. When at least two of the Detroit Three were on the verge of death a few years back, one of the tough questions that was asked of Ford, General Motors and Chrysler execs – outside of why execs were ...

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    Report: Brembo boss Bombassei becomes billionaire brake bigwig
    1391038260

    In the auto industry, running into a car with the familiar "Brembo" moniker on its brake calipers is not uncommon. Ford fitted a set to its last-generation Mustang, and the Nissan Z and Mitsubishi Lancer Evolution featured the company's stoppers for years. Combined with all the brakes Brembo ...

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    Report: Chrysler nets $1.6B income in Q4, Fiat profit up 5%
    1391023860

    Chrysler announced its 2013 financial results today and unveiled its new name and decidedly bank-like logo. Amid the announcement, Chrysler posted big gains in income, while Fiat didn't perform to analysts' expectations. For 2013, Chrysler had revenue of $72.1 billion, up 10 percent from 2012. ...

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    Official: Ford reports $3B profit in Q4, $6.9B for the year
    1390950000

    Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping ...

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    Report: Ford dealers offered discounts on tools to fix aluminum
    1390835700

    With the introduction of the aluminum-bodied 2015 Ford F-150 (and the likely use of aluminum in future Ford products), Ford is looking to help its dealerships reduce costs related to repairing this more labor-intensive material. Automotive News is reporting that Ford dealers with body shops will ...

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    Report: Toyota is world's top-selling automaker for second year in a row
    1390752300

    Toyota is the top-selling automaker in the world. Again. Still. With total reported sales, including those from subsidiaries, of 9.98 million in 2013, Toyota's performance was enough to outpace rival General Motors by around 270,000 vehicles. That's a 2.4-percent gain over 2012, and it makes ...

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    Official: Chrysler purchases remaining shares from VEBA Trust, announces funding plan
    1390500060

    It's official: The Detroit Three is now The Detroit Two and The Fiat Subsidiary, Chrysler. Both the Italian carmaker and The Pentastar announced the completion of cash payments and a Memorandum of Understanding (MOU) on future payments necessary to make the Chrysler Group a wholly-owned ...

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