Pretax charges drop Sonic Automotive"s Q1 net income
The company said $7 million in pretax charges contributed to a 12 percent dip in first-quarter net income......»»
Top 5 stories of the week: Asbury looks to sell dealerships; UAW threatens Stellantis stamping plant
A quick look at the top automotive stories of the week as determined by reader interest......»»
American Axle revenue, profit climb in first quarter
American Axle & Manufacturing Holdings Inc. increased revenue and profit in the first quarter thanks to steadier production from its customers. The automotive supplier saw year-over-year revenue growth of 7 percent to $1.6 billion during the period,.....»»
NOAA reports continued drop in overfishing
In a report released May 2, NOAA Fisheries announced that 2023 saw a record low for the number of fish stocks subject to overfishing. The annual "Status of the Stocks" report is an assessment of the 506 stocks and stock complexes managed by NOAA Fish.....»»
Rivian taps Volvo executive as COO ahead of new-model launch
Rivian Automotive Inc. hired Javier Varela as its new chief operations officer to help the electric-vehicle maker scale output as it prepares to roll out a lower-cost model geared for the mass market......»»
Apple’s Q2 2024 earnings reveal a drop in iPhone, iPad sales
Services growth looked rosy as Apple's hardware revenue in China slowed. Enlarge / The Apple Park campus in Cupertino, California. (credit: Anadolu Agency | Getty) Apple's earnings report for the second quarter of the co.....»»
UHF in UHD: Weird Al’s cult classic movie will get its first 4K release
For those of you just joining us, today we're teaching poodles how to fly. Weird Al's Rambo parody was a drop in the bucket amidst all the other jokes in the film, but it's amo.....»»
FedEx adds 150 Shyft Group Blue Arc electric vans to its fleet
FedEx is expanding its fleet of zero-emissions vehicles with the addition of 150 Blue Arc battery powered vans. Built by Michigan's Shyft Group, the vans can travel as much as 225 miles between charges......»»
Investigation reveals varied impact of preschool programs on long-term school success
Early education programs are widely believed to be effective public investments for helping children succeed in school and for reducing income- and race-based achievement gaps. However, a new study conducted by a team of investigators from Teachers C.....»»
Sonic Automotive"s EchoPark used-car business shows Q1 turnaround
Sonic Automotive President Jeff Dyke said the group won't open any EchoPark stores this year......»»
Harbour Results, adviser to tool-and-die shops and small manufacturers, acquired by Wipfli
Harbour Results Inc., a longtime advisory group to small- and medium-size automotive manufacturers and tool-and-die makers in North America, was acquired by Milwaukee advisory and accounting firm Wipfli......»»
Congress lets broadband funding run out, ending $30 low-income discounts
ACP gave out last $30 discounts in April; only partial discounts available in May. Enlarge (credit: Getty Images | Yuichiro Chino) The Federal Communications Commission chair today made a final plea to Congress, asking f.....»»
4 suppliers honored for innovative tech partnerships with GM
UVeye, Aspen Aerogels, Carbon Revolution and Gentherm received Innovation Partnership Awards during the annual Automotive News PACE Awards program this week. All four companies were recognized for their work with GM......»»
Toyota sales rise 14%; Honda edges up; Hyundai, Kia slip in April
U.S. light-vehicle sales are expected to drop about 2 percent in April, reflecting one less selling day than a year earlier and weaker fleet shipments, analysts say......»»
Tomorrow’s AAPL Q2 earnings likely to be $5B down
AAPL Q2 earnings are set to be announced tomorrow, and the company had already warned that we should expect a year-on-year revenue drop of around $5B. Analysts expect the same thing, and the outlook for Q3 isn’t expected to be any better, so in.....»»
Credit Acceptance Q1 net income down 35%; loan volume grows
Credit Acceptance Corp. Q1 2024 earnings: Net income fell 35 percent year over year during the first quarter as the major national car loan company grew its loan portfolio but had higher expenses......»»
Hyundai, Kia sales slip in April
U.S. light-vehicle sales are expected to drop about 2 percent in April, reflecting one less selling day than a year earlier and weaker fleet shipments, analysts say......»»
6 public auto dealership groups challenged by inflation, lower profit per vehicle
Asbury, AutoNation, Group 1, Lithia, Penske and Sonic continue turning to acquisitions or growing service and parts operations for new revenue sources......»»
Continental Auto Group founder Bryan Hardeman arrested on more arson charges
Bryan Hardeman, founder of Continental Automotive Group, was arrested for the second time in two months in connection with multiple suspected arson fires in Austin, Texas......»»
Lear"s Q1 net income falls as auto supplier goes full bore into automation
Lear Corp. reached a revenue record in the first quarter but saw net income drop 24% as it navigates operational and restructuring challenges related to lower volumes......»»
Mercedes to stay firm on pricing following Q1 profit drop
Mercedes said model transitions in the top-end segment and supply chain-related costs caused its return on sales to fall to 9.6 percent from 14.9 percent a year earlier, with vehicle sales down 8 percent at 462,978......»»