Earnings/Financials

Italian design house Pininfarina predicted last May that it would face an operating loss for 2012 but still come out with a net profit. Both predictions have come true – the company is reporting an operating loss of 8.2 million euros and a net profit of 32.9 million euros ($42.5 million ...

Almost four years ago Seat got a new CEO, James Muir, tasked with the job of creating a sustainably profitable division out of Volkswagen's Spanish brand. Three years ago Volkswagen CEO Martin Winterkorn publicly explained that the home of the Ibiza was getting its last chance, but Muir and a ...

Organizers have cancelled the Melbourne Motor Show in the face of declining attendance and lackluster support from automakers. Australia has already seen shows in Brisbane, Adelaide and Perth close their doors, and with Melbourne following suit, Sydney is the country's last major auto show left ...

A report in The Wall Street Journal looks at some of the obstacles to the 2014 Jeep Cherokee that go beyond its mootable yet "very contemporary" looks, almost all of them based on Fiat's financial position. Starting with that sheetmetal, in defense of it SRT president Ralph Gilles and Jeep design ...

Times have not been easy for Lotus lately, so when its name came up on a list of companies scheduled for a liquidation court, it seemed like the end could be near for the fabled British builder of lightweight sports cars. As it turns out, Lotus was on the Companies Court Winding Up list in the UK ...

If you've been wondering what to do with that $165-million stack of pennies in your bedroom, we may have an idea for you. The Nürburgring is officially up for sale, including the arena, museum, Norschleife and even the defunct roller coaster. The government-owned motorsports complex fell ...

Kevyn Orr, the new emergency city manager of Detroit, has a history with one of Michigan's most famous residents: Chrysler. Governor Rick Snyder (at right) appointed Orr to the position yesterday with the belief that Detroit needs outside assistance to right the city's mounting financial ...

BMW managed to eke ahead of Audi for the global luxury sales crown in February. According to Bloomberg, BMW saw deliveries swell by 7 percent in February, besting the 3.2 percent jump enjoyed by Audi and giving BMW a 407-unit delivery lead over its rival last month. Mercedes-Benz, meanwhile, ...

Automotive News is reporting that a US District Court has ruled that a lawsuit by five dealers against Mahindra & Mahindra can move ahead. The Indian automaker had moved to have the case dismissed, but District Judge Thomas Thrash in Atlanta said the plaintiffs presented enough evidence ...

The Detroit News reports that the US Treasury sold off around 17.2 million shares of General Motors stock in February worth $489 million. The move is part of a plan to rid the government of GM stock by March, 2014. All told, the government has regained $29.8 billion of the $49.5 billion it ...