Author: Automotive News Breaking News Feed

Carvana reported triple-digit growth in volume and revenue in the third quarter, but profits remain elusive as the online used-vehicle seller continues expanding its relatively low-overhead model.

Magna said its third-quarter profit grew compared with a year ago as revenue also climbed, but the Canadian auto supplier trimmed the outlook for the year on production headwinds.

Magna said its third-quarter profit grew compared with a year ago as revenue also climbed, but the Canadian auto supplier trimmed the outlook for the year on production headwinds.

Car sales in China declined for a fifth consecutive month, bringing the world’s largest market closer to its first annual drop in at least two decades and piling pressure on automakers.

Denholm, 55, has been CFO and head of strategy at Telstra Corp., Australia’s former phone monopoly, since only Oct. 1 after 18 months as chief operations officer.

Denholm, 55, has been chief financial officer and head of strategy at Telstra Corp., Australia’s former phone monopoly, since only Oct. 1 after 18 months as chief operations officer.

Tesla chose Robyn Denholm to succeed Elon Musk as board chair, selecting an independent director to contend with the carmaker’s mercurial CEO following his run-ins with regulators and investors.

Tesla chose Robyn Denholm to succeed Elon Musk as board chair, selecting an independent director to contend with the carmaker’s mercurial CEO following his run-ins with regulators and investors.

Nissan says its push to improve profitability in the crucial U.S.

Nissan said its push to improve profitability in the U.S. is taking more time and money than expected. The automaker’s North American profit climbed 13 percent but fell 21 percent globally.