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Earnings/Financials

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    Report: Foreign car sales on the rise in Japan
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    Historically, the Japanese auto market has been a tough nut to crack for foreign automakers. The country's buyers have a reputation of preferring driving vehicles from domestic companies. However, the last fiscal year that ended in March indicated that things don't have to be so insular. As ...

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    Report: Detroit automakers mulling helping DIA avoid bankruptcy looting
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    It's not really a secret that the city of Detroit is in lots and lots of trouble. Even with an emergency manager working to guide it through bankruptcy, a number of the city's institutions remain in very serious danger. One of the most notable is the Detroit Institute of Arts, a ...

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    Podcast: Autoblog Podcast #380
    Fiat-Chrysler Five-Year Plan, Nissan Cube, Big Rig Speed Limiters 1400017500

    Episode #380 of the Autoblog podcast is here, and this week, Dan Roth, Chris Paukert and Seyth Miersma talk about the Fiat-Chrysler five-year plan, the seeming demise of the Nissan Cube, and proposed legislation to require speed limiters with a 68-mph maximum on America's tractor trailers. We ...

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    Official: Fiat Chrysler posts $690M Q1 loss
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    If there is one thing that should be remembered when looking at quarterly and annual earnings, it's that the headline numbers rarely tell the whole story when it comes to an automaker's health. Chrysler's first-quarter earnings are just such an example. Yes, the Auburn Hills-based manufacturer ...

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    Report: Tesla pulling plug on Toyota RAV4 EV battery deal
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    The future of the Toyota RAV4 EV appears to be in doubt. Tesla supplies the EVs battery packs, and it says that production ends later this year. "Toyota is expected to end the current RAV4 EV model this year," Tesla said in its quarterly financial filing obtained by Bloomberg. "Our production ...

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    Report: Unintended acceleration settlement hits Toyota's Q4 bottom line
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    Depending on how you want to look at things, the US Attorney's Office $1.2-billion dollar settlement with Toyota in March over its unintended acceleration recall was either a big blow to the company or completely inconsequential. From January to March, net income fell five percent to 297 billion ...

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    Report: Merged Fiat-Chrysler HQ will be in London
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    You won't be seeing Sergio Marchionne in his famous sweaters running day-to-day operations of Fiat Chrysler Automobiles from Michigan. Although, he won't be doing it from Italy, either. The FCA CEO recently announced that the company's corporate headquarters would be located in ...

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    Report: Share price falls on skepticism of Chrysler-Fiat five-year plan
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    Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much. Fiat saw its shares tumble 12 percent in Wednesday's trading, ...

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    Report: Wiesmann shuts down... again
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    Though its designs may look like Wiesmann is trying to make time stand still, the massively powerful BMW engines that power its creations say otherwise. As does its slaloming in and out of solvency over the past year or so. Last summer the German automaker filed for bankruptcy. It presented a ...

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    Report: West Coast Customs faces stiff fines for not paying employees
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    West Coast Customs is in trouble with federal authorities and will be forced to pay over $150,000 thanks to charges that employees were chronically underpaid between November 2010 and January 2013, according to a report from The Press-Enterprise. An investigation by the US Department of Labor ...

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    Report: Washington ups GM bailout loss estimate to $11.2B
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    Apparently, the cost of the US Treasury's bailout of General Motors is still being calculated. A new report from the Special Inspector General for the Troubled Asset Relief Program, which oversees the TARP initiative, found that the US government has lost more money on its investment than ...

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    Official: Aston Martin confirms new platform under development
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    It's been thirteen years since Aston Martin introduced the original V12 Vanquish. The model was effectively been replaced twice over by the time it reached its Bar Mitzvah, but its underlying platform is still around. And not just around, either: it underpins everything Aston makes and has made ...

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    Official: VW Group profits rise 27%, Americas still lag
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    Financially, things are looking up for Volkswagen Group overall, yet deliveries are still falling in the Americas. Worldwide, the automotive giant's profits after taxes rose 26.8 percent in the first quarter of 2014 to 2.47 billion euros ($3.4 billion). Total sales revenue was up 2.7 percent to ...

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    Report: HQ move based on study, not pitch from Gov. Perry, Toyota says
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    Toyota's surprising announcement on Monday that it will move its North American headquarters from Torrance, CA location to the Dallas suburb of Plano, TX is allegedly not due to any political wrangling from the state's Republican governor, Rick Perry. Perry (above) has been up front in his ...

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    Report: Ford and GM link bonus checks to quality scores
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    The poor first quarter earnings of Ford and General Motors are having an effect all the way up the food chain. Both automakers struggled with recalls in the first three months of the year, and, according to The Detroit News, they have responded by increasing the percentage of bonuses tied to ...

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    Official: Ford Q1 profits dragged down by warranty costs
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    General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the ...

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    Official: Mazda reports highest profits in its 94-year history
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    We may only be a third of the way through 2014, but for Japanese companies, March 31 marked the end of fiscal 2014, and it was a banner financial year for Mazda's global operations. The Japanese independent saw its highest global operating profits in its nearly 100-year history. Its global ...

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    Report: Mitsubishi scores record global operating profits
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    In the minds of many auto enthusiasts, Mitsubishi has become an afterthought. It has transformed from a company known for its turbocharged, all-wheel-drive rally machines into an automaker with a very boring lineup. Maybe we are being unfair, though. While the company doesn't have much of a ...

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    Report: Hyundai missing Q1 earnings targets blamed on slow US sales
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    Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year. According to the report, US ...

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    Official: GM spent $1.3B on recall expenses in Q1, net income falls
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    General Motors' recall woes in the first quarter of 2014 has had a major effect on the company's bottom line. In its Q1 financial report, the business announced that it spent $1.3 billion on "recall-related repairs" in the first three months of the year. Total revenue at GM actually ticked up ...

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