BorgWarner Q1 profits take a hit from electrification R&D, inflation
BorgWarner Inc. executives are expecting a boom in the electrification business but not before e-products put some strain on its profitability. The supplier saw first-quarter sales of $4.2 billion, up 8 percent from a year ago, and net earnings of.....»»
Election might shrink EV subsidies, but battery manufacturing credit likely safe
Inflation Reduction Act EV consumer and lease tax credits could be at risk, but the credit for battery manufacturers is likely safe, analyst says......»»
Hybrid RV with a solar roof can power your home in an emergency
The hybrid powertrain has a range of 500 miles. Enlarge / This is Thor and Harbinger's test bed for a new Class A hybrid RV. (credit: Thor) Electrification is moving through different parts of the automotive industry at.....»»
‘The 4-square method’: Here’s how American car dealers make big profits — and how not to get fooled
‘The 4-square method’: Here’s how American car dealers make big profits — and how not to get fooled.....»»
Tom Golisano donates $360M to upstate NY non-profits: See the amount each receives
Tom Golisano donates $360M to upstate NY non-profits: See the amount each receives.....»»
Suppliers eye new contract terms, more collaboration to lessen EV risks
Executives at some of the world's biggest suppliers are rethinking how they manage risk as they deal with increased uncertainty on electrification......»»
Ally Financial warns of "intensifying" credit challenges, shares slump
Ally Financial warned of challenges that have intensified over the quarter as borrowers struggled with high inflation......»»
U.S. new-vehicle market ‘stuck" as buyers wait for relief, sellers try to hang on to profits
The August selling rate was just 15.1 million, disappointing given the addition of the holiday weekend and a sign that cash-strapped consumers are waiting to make big purchases in uncertain times......»»
What"s up with high food prices? Economists assess factors causing food prices to fluctuate
The latest consumer inflation report indicates that grocery prices have stabilized, yet the perception of high food costs lingers for many......»»
AI can mitigate bias against women in loan decisions and boost lenders" profits and reputations
Recent research from the University of Bath shows discrimination against women worsens if Artificial Intelligence (AI) is used by lenders for loans, but that ethical lenders could choose to tweak the AI algorithms to address this bias and still impro.....»»
Public dealerships" F&I gross profits fall in Q2 but most above $2,000 a vehicle
AutoNation, Lithia, Group 1, Sonic and Asbury all had same-store finance and insurance gross profit per vehicle above $2,000 in the second quarter......»»
GM works to snuff out glitches as it eyes big software profits
GM believes software will be a huge revenue driver in the coming years, but resolving problems before vehicles launch and staying nimble have been challenges......»»
How changing automaker EV plans complicate suppliers" labor strategies
Some suppliers are cutting jobs because of slowdowns in automakers' electrification plans, often reluctantly so because of how difficult it can be to fill roles to begin with, executives and industry analysts said......»»
Repeal of Inflation Reduction Act"s EV, manufacturing incentives a ‘scary thought," industry executives say
The auto industry is urging lawmakers to preserve the Inflation Reduction Act's EV manufacturing and sales incentives, arguing they're crucial to making the U.S. competitive on the global stage......»»
Mazda incentives soar, putting pressure on profits, upmarket move
Spiraling incentives nearly wiped out Mazda's operating profit in the latest quarter, as the company spent more to sell more. Volume and market share are growing. But it comes at a big price, with U.S. spiffs nearly double their level a year ago......»»
Lufthansa is using artificial sharkskin to streamline airplanes
Copying a trick from the animal kingdom can help cut aircraft emissions. Enlarge (credit: Aurich Lawson | Getty Images) Companies are often caught between wanting to cut emissions but also grow profits. But for airlines,.....»»
Ahead of iPhone 16, AI demand boosts Apple supplier Foxconn"s profits
Foxconn, Apple's iPhone 16 manufacturer has reported a fourth consecutive quarter of profit increases, which it credits to demand for AI servers.Workers in a Foxconn factoryFor the previous quarter, Foxconn's increased profits came from better than e.....»»
Nissan dealership profits tank amid U.S. sales struggles
The average Nissan dealership earned 70 percent less in the first half of the year than in 2023, with more than a third of stores losing money, according to data obtained by Automotive News......»»
How media impacts digital technology adoption in US and Brazilian agriculture
Digital technologies on the farm improve efficiency, productivity, and profits, but few farmers are taking full advantage of available tools. According to University of Illinois Urbana-Champaign researchers, communication channels play an important r.....»»
EV delays, changing plans dim suppliers" financial outlooks
Suppliers said automakers' rapidly shifting electrification plans will weigh on their future earnings as they make fewer parts for electric vehicles than they were banking on......»»
Subaru production, profits undercut in latest quarter by fatal plant accident in Japan
The export-dependent carmaker still managed to eke out a profit thanks to hefty windfall gains from favorable foreign currency fluctuations......»»