Author: Automotive News Feed
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Renault sales slip as strong Euro offsets delivery gains
Renault reported a 0.1 percent decline in first-quarter revenue as the strong euro offset deliveries. Sales totaled 8.26 billion euros ($11.4 billion).
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Valeo sales increase 6% as Europe rebounds
Valeo reported a 6 percent increase in first-quarter sales on higher demand in China and North America and the end of a six-year contraction in Europe.
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GM profit plunges on recall costs
GM’s first-quarter net income sank 86 percent from a year earlier to $125 million amid heavy costs related to the recall of 7 million vehicles. In Europe, GM lost $284 million, nearly double the $152 million it lost a year earlier.
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First Shift: GM net profit falls 86%
Recall costs leave only $125 million on bottom line; Hyundai, Mitsu earnings; Asbury used-car plan; hybrids a boomer buy?