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DeLong Named VP of Covideo

NORCROSS, Ga. — April 6, 2017 — Covideo (a division of EasyCare) has appointed Mike DeLong to the position of Vice President, heading the company’s Dealer Services division. DeLong is a 30-year industry veteran who has been with Covideo since 2007. “Mike has been critical to our success and growth over the last ten years,” ... Read More »

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GM’s Profits Rise to $945 Million in Q1

DETROIT – General Motors on Thursday reported net income of $945 million for the first quarter of 2015. That compares to net income of $108 million for the Detroit automaker in the comparable period one year ago, reported MLive. GM’s earnings before interest and taxes increased to $2.1 billion, compared with an EBIT of $500 ... Read More »

Putting F&I Online Increases Profits, MakeMyDeal Finds

ATLANTA — A new study from Cox Automotive company MakeMyDeal found that shifting F&I product information online could be the key to higher sales and profitability. According to the MakeMyDeal 2015 Finance & Insurance Study, 61% of the 500 consumers surveyed believe that F&I products are just ways for the dealer to make more money. ... Read More »

FCA US Profits Drop in 2014 on One-Time Expenses

DETROIT – FCA US, formerly Chrysler Group, reported Wednesday a drop in net income to $1.2 billion for 2014, compared to a net profit of $2.8 billion in 2013, reported MLive. That came despite a rise of 15 percent in revenue to $83.1 billion. The Auburn Hills-based subsidiary of Fiat Chrysler Automobiles NV said the ... Read More »

Chrysler’s Profits Up 32% to $611 Million in Q3

DETROIT – Chrysler Group LLC’s net profits rose 32 percent to $611 million in the third quarter, the Auburn Hills company announced Wednesday, reported MLive. That comes on top line growth of 18 percent to $20.7 billion for net revenues. The revenue growth was driven by higher vehicle shipments, in particular the all-new Jeep Cherokee ... Read More »

Ford’s Profits Drop in Q3

DETROIT – Ford Motor Co. reported net income of $835 million in the third quarter, a drop of about 34 percent from earnings of $1.27 billion in the year-ago period, reported MLive. Pre-tax profit fell to $1.2 billion in the third quarter of 2014 from $2.6 billion in the comparable quarter last year. Ford said ... Read More »

GM’s Profits Double to $1.4 Billion in Q3

DETROIT – General Motors announced Thursday net profit of $1.4 billion in the third quarter, compared to earnings of $0.7 billion in the third quarter of 2013, reported MLive. The 100 percent year-over-year improvement comes despite incurring a loss of $0.3 billion in the period, stemming in part from flood damage at the GM Technical ... Read More »

Harley-Davidson Profit Slips, but Shipments In Line With Expectations

Harley-Davidson Inc. posted lower earnings and revenue during the third quarter as motorcycle shipments declined as expected, reported The Wall Street Journal. The company’s earnings topped analysts’ expectations, however, while the top line fell short. The motorcycle maker has sought to reach beyond its traditional, middle-aged target audience with smaller bikes geared toward younger customers. ... Read More »

Fiat, Chrysler Parent Company, Reports 55% Drop in Profits

Fiat SpA, the parent company of Chrysler Group LLC, reported a 55 percent decline in second-quarter profits due to weak performances in Europe and Latin America, reported Michigan Live. The Italian automaker said its net profit from April through June was 197 million euros ($264 million), down from 435 million euros ($583 million) for the ... Read More »

Record North America Profit Boosts Ford Results

Ford Motor Co reported second-quarter operating earnings that beat expectations thanks to record profit in North America, boosting its shares more than 1 percent in early trading, reported Reuters. Pretax profit in North America of $2.44 billion and the company’s first profit in Europe in three years offset weaker-than-expected results in Asia Pacific and South ... Read More »