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Earnings/Financials

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    Study: NHTSA says car accidents cost every American about $900 in 2010
    1401402600

    Car accidents carry a heavy price tag for Americans, regardless of whether or not they've been involved in a crash themselves. Economic burdens associated with crashes cost every person in the United States about $900 per year, according to a study released Thursday by the National Highway ...

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    Report: Tony Fernandes putting Caterham up for sale? [UPDATE]
    1401202800

    UPDATE: Caterham has issued an unequivocal press release, stating explicitly: "Despite press romours to the contrary, Caterham Group is not for sale." The statement goes on to say that the sports car maker is "actively searching" for new investment as a means to support its continued development. ...

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    Report: Universal pursuing $50-million insurance claim for Fast & Furious 7
    1401116220

    How can you put a cost on human life? You can't. But you can attempt to put a price on how much that person's absence can cost a company. And in the case of Paul Walker, that could turn out to be as much as $50 million. That's how much Universal Pictures is expected to claim from its insurance ...

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    Report: Buffett's company and hedge funds drop GM stock in wake of recalls
    1400261400

    Well how's that for an about-face? It was not even two weeks ago that we were reporting on Warren Buffett's praise for General Motors' CEO Mary Barra and her handling of the ignition switch recall. That hasn't stopped Buffett's company, Berkshire Hathaway from unloading shares during the first ...

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    Official: GM agrees to $35M fine over ignition switch recall delay
    Automaker Also Agrees To 'Unprecedented Oversight' By NHTSA 1400254140

    General Motors has agreed to a $35-million fine levied by the National Highway Traffic Safety Administration following its delayed reporting of the deadly ignition switch problem that has affected millions of the company's vehicles. GM will be subject to what NHTSA called "unprecedented ...

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    Read This: Former Treasury boss unaware auto task force fired GM's Wagoner
    1400103900

    We dig a good political tell-all every once in a while (how else will we get our political fix while waiting for House of Cards' third season?). Today, we get just that from former Treasury Secretary Timothy Geithner's new book, "Stress Test," which details, among other parts of the 2009 financial ...

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    Report: White House urges Congress to shore up depleted Highway Trust Fund
    1400081460

    The United States Highway Trust Fund is getting closer to running out, and the federal government is scrambling to find a way to keep it in the black. The fund pays for a significant portion of the upkeep for the country's interstates, bridge repairs and some public transportation projects. It's ...

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    Report: Foreign car sales on the rise in Japan
    1400079660

    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
    1400018460

    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
    1399919400

    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
    1399908660

    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
    1399671840

    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
    1399649280

    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
    1399585380

    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
    1399553040

    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
    1398983400

    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
    1398887040

    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
    1398861840

    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
    1398810540

    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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