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Earnings/Financials

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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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    Report: Alfieri headed for production based on strong Maserati sales
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    Maserati has been on a heck of a product surge recently. After years of subsiding on versions of the previous Quattroporte and the aging GranTurismo, the Modense automaker rolled out the new Quattroporte the year before last, the Ghibli last year, it will introduce the Levante crossover next year ...

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    Read This: Did hard feelings between GM and Delphi contribute to ignition-switch woes?
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    The Detroit News has lodged another exhibit in the attempt to reconstruct how General Motors used an ignition switch part that might not have met the company's own standards, citing acrimonious relations between it and parts supplier Delphi just after the turn of the millennium. The short story ...

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    Report: Opel could break even next year
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    How things change. According to a report from The Wall Street Journal, Opel might just break even next year. This is kind of a big deal, largely because Opel has been arguably the most troubled branch both in General Motors' portfolio and in all of Europe. The report claims that Opel could be ...

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    Official: Dodge offering novel 1-year lease on '14 Challenger and Charger models
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    Dodge is just days away from unveiling refreshed versions of the Charger and Challenger at the 2014 New York Auto Show, models promising updated styling and new powertrain options. Depending on how you look at it, the company is either so confident in its forthcoming 2015 models that it's ...

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    Report: Ontario looks to liquidate its holdings in General Motors
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    The late-80s and early-90s saw the Canadian government divest itself from some of its largest state-owned businesses (known in Commonwealth countries as Crown Corporations) – particularly when it came to transport and energy companies. In a sweeping implementation of Thatcherism led by ...

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    Official: Ferrari gives employees record $5,600 bonus on strong year
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    Ferrari has got to be a great place to work. In fact, it's named as one of the best places to work in Europe year after year. Add to that the pride of making some of the coolest cars in the business, running one of the winningest teams in all of motorsports (even if the Scuderia isn't doing so ...

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    Read This: How Zipcar's founders grew apart and lost their carsharing empire
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    Zipcar was one of the first major successes in carsharing in the US and is still a major player in the market around the world. The business now has offices in 26 American cities with about 10,000 vehicles and 860,000 members around the world. Rental car company Avis bought it for $491 million in ...

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    Report: Chevy ramping Silverado incentives after Ram beats it in March
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    General Motors isn't losing the pickup war without a fight. With the Silverado narrowly falling to third place in the truck segment in March, Chevrolet has announced that it is going to continue its Truck Month pricing through the end of April. In addition to those incentives, some Chevy pickups ...

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    Report: Ex-Hyundai CEO Krafcik joins TrueCar board amidst IPO plans
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    Former Hyundai Motor America CEO John Krafcik has had a tumultuous year. Last June, he won the Automotive Executive of the Year from DNV Business Assurance. Then in December, he suddenly announced he was stepping down from his leadership role at the Korean automaker on January 1, with some ...

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    Report: McLaren profits could quadruple on strength of P1
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    McLaren has had success on the track for the last 50 years, but its recent move into also building road cars full time is paying big dividends. The British automaker says that it expects revenue to double this year and pre-tax profit on deliveries to be four-times higher, thanks in no small part ...

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    Report: Ford cuts 950 Russian jobs on weak demand
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    The Russian auto market, in decline for the past year and further hit by the declining value of the ruble and recent sanctions over its annexation of Crimea, has forced Ford to cut jobs and shifts at two of its joint venture plants there. Around 700 of the 2,700 total workers who build the ...

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    Report: Did Ram outsell Chevy Silverado for first time in history last month?
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    Recently released automotive March sales figures point to a major shakeup in the pickup world. Last month, Ram's trucks overtook the Chevrolet Silverado to become the second-best selling vehicle in the segment for the first time ever. The Ram pickups outsold the Silverado by 285 units in March. ...

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    Report: Hyundai reveals CEO's pay for first time ever
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    Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in ...

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