Toyota plans $4.2B share sale to fund fuel cell randdAuto News

Toyota plans to replace as much as 500 billion yen ($4.2 billion) of common equity with unlisted shares that have transfer restrictions, locking in longer-term funding as the carmaker develops new technology.

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GM cuts Venezuela workforce by 13%; Ford halts outputAuto News

The Venezuelan division of GM has laid off 13 percent of its workforce and Ford's local plant has halted operations as a shortage of hard currency has left the companies unable to acquire parts, a union leader said on Tuesday.

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Yamada to pay $2.5 million U.S. fine for fixing prices of steering columnsAuto News

Japan's Yamada Manufacturing agreed to pay a $2.5 million fine and plead guilty to a single felony count of fixing the prices of steering columns.

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Rosekind to discuss safety issues with auto executives in DetroitAuto News

The top federal auto safety official is traveling to Detroit Wednesday for a series of meetings with automotive CEOs and executives to discuss his agency's safety expectations.

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Another Squeeze on Dealers? (4/28/15)

NADA economist: Prepare now for interest-rate hikes; Ford still bullish on Russia; battling low...
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Ally pushes to make up for lost GM lease businessAuto News

Ally Financial is responding to GM pulling its subsidized lease business by getting more aggressive in near-prime and subprime loans, and by courting dealers harder than ever, especially non-GM and non-Chrysler dealers.

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Denso forecasts profit growth on higher Asia salesAuto News

Denso, the world's second-biggest auto supplier based on revenue, forecast a 7 percent rise in operating profit for the year ahead, citing an anticipated rise in Asian sales.

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Civil settlements surpass $260 million in supplier price-fixing litigationAuto News

Civil settlements recently have exceeded $260 million in federal litigation stemming from the ongoing US criminal antitrust investigation into supplier price fixing.

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Mercedes G-Wagen latest victim in China's clone warsAuto News

Land Rover has come to terms with selling its Range Rover Evoque alongside its half-priced Chinese clone, the Land Wind X7. Now BAIC has an SUV that closely resembles the Mercedes-Benz G class.

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Penske Q1 net up 12% as sales riseAuto News

Penske Automotive Group Inc. reported first-quarter net income rose 12 percent driven largely by strong vehicle sales.

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Penske Q1 net up 12% on strong retail sales Auto News

Penske Automotive Group Inc. reported first-quarter net income rose 12 percent driven largely by strong vehicle sales.

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Ally net doubles after sale of Chinese joint-venture stakeAuto News

Ally Financial reported a quarterly profit that more than doubled, helped by a onetime after-tax gain of about $400 million related to a stake sale in its joint venture with a Chinese auto lender.

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Group 1's net income rises 14% in Q1Auto News

Group 1 Automotive reported a net income rose 14 percent to $36 million in the first quarter, driven by solid gains in sales of both new and used vehicles in its core operations in the robust US market.

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Ford posts 7% drop in Q1 profit, still sees 'breakthrough year'Auto News

Ford, which has forecast a "breakthrough year" for itself after remaking a large swath of its global lineup, today said its first-quarter net income fell 6.6 percent to $924 million as the launch of its aluminum-bodied pickup cut production.

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Toyota plans $4.2 billion share sale to fund fuel cell randdAuto News

Toyota plans to replace as much as 500 billion yen ($4.2 billion) of common equity with unlisted shares that have transfer restrictions, locking in longer-term funding as the carmaker develops new technology.

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Honda fiscal Q4 operating profit falls 32% on recall costs, flat car salesAuto News

Tepid sales and a barrage of recall costs hammered profits at Honda in the latest quarter, forcing the carmaker to miss its main targets for full-year earnings and unit sales. Operating profit tumbled 32 percent to $935.

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Honda profit falls 32% on recall costs, flat car salesAuto News

Tepid sales and a barrage of recall costs hammered profits at Honda in the latest quarter, forcing the carmaker to miss its main targets for full-year earnings and unit sales. Operating profit tumbled 32 percent to $935.

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