News • Tue, Nov. 18
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Tue, Nov. 18, 7:55 AM
Tue, Nov. 18, 7:54 AM| Comment!
Wed, Nov. 12, 10:06 AM
- The landmark emissions deal struck between the U.S. and China has implications for the automobile industry even if it is largely symbolic, according to analysts.
- There's some speculation that bickering between the nations over spying and other free trade issues won't reel in China-Western auto joint ventures and impact government EV subsidies as the nation stays focused on pollution control.
- Automaker stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, OTCPK:PEUGF, TTM, TSLA.
Tue, Nov. 11, 4:48 AM
- Hyundai (OTC:HYMLF) and Kia (OTC:KIMTF) have announced share buybacks worth 670B won ($615M), in an apparent bid to appease investor fury at their multibillion-dollar investment for a new headquarters.
- The move represents Hyundai's first share buyback specifically aimed at enhancing shareholder value in nearly a decade and Kia's first ever.
- Shares in the two companies plunged in September after they and affiliate Hyundai Mobis revealed plans to spend $10B on a plot of land in Seoul.
- Separately, Kia announced that company president Park Han-woo will now become co-CEO.
- Previously: Hyundai moves ahead with mega-land deal
- Previously: Hyundai, Kia drop on extravagant HQ buy
Thu, Nov. 6, 6:12 AM
- Hyundai (OTC:HYMLY) and Kia (OTC:KIMTF) are aiming to increase the average fuel economy of their vehicles by 25% by 2020 to meet emissions regulations in South Korea, the U.S. and Europe.
- The automakers will develop next-generation engines and transmissions, reduce the weight of key models and expand their line-up of environmentally friendly vehicles to reach their target.
- The news comes on the heels of the South Korean duo's settlement earlier this week, when they agree to pay a $350M fine to the U.S. government for overstating fuel economy ratings.
- Previously: Hyundai, Kia agree to record settlement for overstating mileage
Tue, Nov. 4, 6:48 AM
- Hyundai (OTC:HYMLY) and Kia (OTC:KIMTF) will pay $350M in penalties to the U.S. government for overstating fuel economy ratings, resulting in the largest fine ever issued under the Clean Air Act.
- "This will send an important message to automakers around the world that they must comply with the law," says Attorney General Eric Holder.
- The deal follows a $395M settlement the automakers agreed to pay last December to resolve claims from the owners of the vehicles, bringing the companies' total cost for the mileage overstatements to more than $700M.
Mon, Nov. 3, 2:14 PM
Thu, Oct. 30, 3:52 AM
- In its latest shift away from consumer finance, General Electric (NYSE:GE) is in early-stage talks to sell its 43% stake, likely worth more than $1B, in its South Korean auto-financing and credit-card businesses.
- The sale would unwind a partnership that began a decade ago between GE and Hyundai Motor (OTC:HYMLY).
- It isn’t exactly clear how much GE will receive from the sale, but it has already received some of its original investment back through dividends.
Mon, Oct. 27, 10:43 AM
- Kelley Blue Book forecasts new-vehicle sales in the U.S. will increase 5.4% Y/Y to 1.27M units in October.
- The research firm warns that the ratio of incentive spending to ATP (average transaction price) is at the highest level in the industry since 2010.
- The compact SUV/crossover segment is expected to see the strongest growth rate during the month at 13.6%.
- KBB sales forecast by manufacturer: General Motors (NYSE:GM) +4.2% to 236K; Toyota (NYSE:TM) +5.9% to 179K; Ford (NYSE:F) -3.3% to 185K; Chrysler Automotive Group (NYSE:FCAU) +19.2% to 167K; Honda (NYSE:HMC) +4.8% to 114.5K; Nissan (OTCPK:NSANY) +12.1% to 102K; Hyundai (OTC:HYMLF) +6.1% to 99K; Volkswagen (OTCQX:VLKAY) +2.9% to 46K.
Fri, Oct. 17, 7:40 AM
- Automobile registrations rose 6.4% to 1.235M vehicles in September, according to the European Automobile Manufacturers Association.
- A strong rate of growth was seen across European Union nations.
- The month included an extra selling day compared to a year ago.
- Sales growth by automaker: Volkswagen (OTCQX:VLKAY) +6.7%, Peugeot (OTCPK:PEUGY) +9.8%, Fiat (NYSE:FCAU) +6.1%, General Motors (NYSE:GM) -5.9, Renault (OTC:RNSDF) +10.7, Daimler (OTCPK:DDAIF) +5.2%, Toyota (NYSE:TM) +0.4%, Ford (NYSE:F) +6.7%, BMW (OTCPK:BAMXY) -1.0%, Nissan (OTCPK:NSANY) +16.9%, Hyundai (OTC:HYMLF) +6.3%, Mazda (OTCPK:MZDAY) +26.4%, Subaru (OTCPK:FUJHY) +8.5%, Jaguar Land Rover (NYSE:TTM) +3.9%.
Thu, Oct. 16, 6:37 AM| Comment!
Wed, Oct. 8, 1:53 PM
- The EPA says the fuel economy of 2013 models sold in the U.S. averaged 24.1 mpg, up half a mpg from the prior year's model.
- The modest 2.1% improvement is below the pace called for by some environmental groups and just a fraction of what would be needed to keep pace with the government's target for a 54.5 average mpg for the 2016 model year.
- A higher mix of SUV and truck sales offset technology gains by automakers.
- Related stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, HMC, FCA.
Wed, Oct. 8, 7:50 AM
- Fiat (OTCPK:FIATY) CEO Sergio Marchionne thinks there is room in the industry for a merger to create an automaker bigger than Toyota.
- Marchionne might be the man for the job after helping guiding the acquisition of Chrysler from Daimler and pushing Fiat through a complicated transaction to create Fiat Chrysler Automotive (NYSEARCA:FCA).
- Morningstar analyst Richard Hilgert agrees that the auto industry may see more M&A activity due to the needed economies of scale to compete.
- Automaker stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, OTCPK:PEUGF, OTC:RNSDF, TTM, OTCPK:SZKMY.
Thu, Oct. 2, 11:53 AM
- Kelley Blue Book reports the average transaction price for light vehicles in the U.S. rose 0.4% Y/Y and 0.2% M/M to $32,500.
- Over the last month, Toyota (NYSE:TM) and Volkswagen (OTCQX:VLKAY) saw their ATP dip the most of major automakers - while Nissan (OTCPK:NSANY) and Hyundai (OTC:HYMLF) had the biggest gains.
- Ford (NYSE:F) and General Motors (NYSE:GM) showed a strong gain in transaction prices over the last year as a mix shift helped offset some incentive spending.
Thu, Oct. 2, 11:08 AM| Comment!
Wed, Oct. 1, 12:55 PM
- Kia Motors (OTC:HYMLF) unit sales +6.9% to 40,628.
- Sales growth by model: Rio -16.8% to 2,240; Optima -6.3% to 10,908; Soul +45.7% to 10,802; Sorento -15.8% to 6,606
- The South Korean automaker notes that its first all-electric entry, the Soul EV, is beginning to arrive at dealerships.
- Hyundai reported sales tallies for the Hyundai brand earlier today.
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