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Earnings/Financials

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    Report: Mitsubishi hopes to raise $2.5B with stock sale
    1390423440

    Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years. Back in 2004 ...

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    Report: Despite strong profits, GM still fighting flat market share
    1389965400

    Looking at the progress General Motors has made since it entered bankruptcy, it's easy to forget that the company still has a long way to go before it's the juggernaut it once was. A recent report from Reuters points out that, while GM is making money, it isn't making any gains in terms of US ...

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    Motorsports: Lotus F1 team $186 million in debt
    1389963600

    The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties ...

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    Official: General Motors names Chuck Stevens as CFO
    1389794520

    General Motors made a series of top-level appointments last month. The highest-profile of them, of course, was the nomination of Mary Barra as Chief Executive Officer. But the industrial giant also named Tim Solso as chairman and Dan Ammann as president. The one thing that was missing was a new ...

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    Report: Wiesmann's speedy exit from bankruptcy stalls
    1389708060

    After German boutique sports car manufacturer Wiesmann filed for bankruptcy in August last year, we thought order had been returned to the world when the company announced in November that it had applied to dismiss the insolvency proceedings. Little was known about the entry into and the request ...

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    Report: Volvo returns to profitability
    1389706260

    Ford sold Volvo to Zhejiang Geely Holding Group Limited in 2010. Just two years later, Geely announced an $11-billion investment in the Swedish carmaker, its charismatic fugleman Li Shifu saying, "We want to revive Volvo and give the brand its strength back." Two years later, after having ...

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    Report: Cox investment values AutoTrader at $7B as car-selling sites gain strength
    1389192000

    Acting as a middleman between potential car buyers and dealerships has become quite a lucrative business. "How lucrative," you ask? Well, a company called Cox Enterprises has just purchased a 25-percent stake in AutoTrader at a price of $1.8 billion. With the help of some simple maths, that works ...

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    Report: Detroit Three autoworkers could get huge bonuses
    1389053700

    For a long time, being a line worker for one of the Detroit Three has meant living with an uncertain future. With the health of American automakers on the rise, though, things are also starting to look up for the men and women building the cars. The latest sign that things aren't bad? Big ...

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    Podcast: Submit your questions for Autoblog Podcast #363 LIVE!
    Detroit Auto Show preview, 2013 best-sellers, mandated backup cameras, Fiat buys Chrysler 1389044700

    We're set to record Autoblog Podcast #363 tonight, where prodigal host Zach Bowman will return to join Dan Roth and Steven Ewing. Check out the topics below, drop us your questions and comments via our Q&A module, and don't forget to subscribe to the Autoblog Podcast in iTunes if you haven't ...

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    Report: Fiat to list on New York Stock Exchange?
    1389020340

    Citing the ever-nebulous "two sources close to Fiat," Reuters is reporting that the Italian automaker and owner of the Chrysler brand is likely to list itself on the New York Stock Exchange. The move could reportedly happen as soon as 2015, marking the end, at least in the minds of investors, of ...

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    Report: GM will no longer hold monthly sales calls with journalists, analysts
    1388944800

    Following its controversial decision earlier this year to stop publishing monthly production numbers, General Motors has now announced that it will join the ranks of Honda, Nissan, Hyundai, Kia and others in not holding a monthly conference call to discuss sales with the automotive media. "We ...

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    Report: Mercedes fights off late BMW surge to claim 2013 luxury sales crown
    1388866500

    The king is dead - long live the king. Mercedes-Benz is now your new US sales champion in the fiercely competitive luxury market, deposing the champ BMW, which has enjoyed annual supremacy for the past two years. Thanks in no small part to the dynamite launch of the new, affordable CLA-Class, ...

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    Followup: 400% markups reported as Cuba opens new/used car sales for first time since 1959
    1388858460

    One could hardly blame Cuban consumers for suffering from a bout of 'sticker shock' when new car shopping this week – after all, they haven't had the opportunity since 1959. But it isn't just a half-century of inflation that buyers are having to wrap their heads around this week, it's ...

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    Report: Hyundai-Kia forecasts slowest sales growth in 8 years
    1388707140

    Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 ...

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    Report: Fiat stock rockets up after word of Chrysler deal
    1388685660

    Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed ...

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    Official: Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided
    1388623620

    Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure ...

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    Study: New findings suggest EVs lose value quicker than gas-only autos
    1388479560

    Electric cars may be great for saving money on gas, but a new report from Kelley Blue Book, commissioned by USA Today, shows that EVs might not be a great value option for their first owners. The study found that compared to gas-powered vehicles, EVs tend to lose significantly more of their value ...

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    Official: Ford predicts it will finish 2013 as top-selling US brand
    1388436300

    Ford is ready to call the ball on its 2013 sales totals, predicting a first-place finish for units sold in the US for a single brand. The company anticipates selling more than 2.4 million vehicles when all vehicle sales over the last 12 months have been tallied, repeating the victory it trumpeted ...

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    Report: Analyst predicts GM will buy Tesla in 2014
    1388430060

    There's little question that Tesla has come at the automotive industry as an outsider. But will it last as an outsider for much longer? Not if you ask Yra Harris of Praxis Trading. According to USA Today, the veteran financial analyst recently predicted on CNBC that General Motors will try to buy ...

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    Report: Audi investing $30.3 billion through 2018 for product expansion
    1388359860

    How does Audi plan to reach two million units in annual sales and pay for the 11 new models it's adding to its lineup – an expansion that may include models named SQ2, Q9 and F-Tron? By increasing its investment to 22 billion euros ($30.3 billion US) between now and 2018. That figure ...

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