The turbocharger and electric motors supplier said its performance in the first quarter was stronger than it expected, driven by higher volume of new programs, especially in Europe and North America.
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Ford's first-quarter profit fell 34 percent to $1.15 billion, on one-time charges, but the company said it was on track to generate better results in 2019 than it did last year. Earnings before interest and taxes rose 12 percent to $2.45 billion, including a 14 percent gain in North America, behind strong light-truck sales.
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GM said a second shift in Bowling Green, Ky., will add 400 workers, who will build the highly anticipated midengine Corvette — a first for the famed sports car.
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Strong used-vehicle sales and a growing parts-and-service business helped lead Group 1 to record profit in the first quarter despite a dip in revenue as new-vehicle sales tumbled.
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Toyota Motor Manufacturing Canada on Monday plans to make what it calls “a significant production announcement” at its North Plant in Ontario, where the RAV4 is assembled.
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Cockpit electronics supplier Visteon said operational challenges hampered its first-quarter margins, but results should improve in the second and third quarters. Visteon shares fell 23.5 percent.
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Sonic Automotive's first-quarter net income jumped on growing revenue at its EchoPark used-vehicle stores and record finance-and-insurance profits.
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Lexus will open its first dealerships in Mexico's top three cities in 2021 to take advantage of a new product cycle. Its sibling Toyota brand has grown rapidly in a market hungry for hybrids.
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Elon Musk is reopening the door to seeking capital for Tesla after posting a bigger-than-expected loss for the first quarter. A record drop in deliveries, combined with the company’s largest-ever debt payment, depleted cash to the lowest level in three years.
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Carlos Ghosn walked out of a Tokyo detention center after winning release on bail for second time, giving the deposed executive a chance to prepare his defense against financial misconduct charges.
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