Ferrari expects ‘even stronger’ 2023 with more new models

The company forecasts adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in 2023 at €2.13 billion to €2.18 billion, up from €1.77 billion last year. doing. Fourth-quarter Adjusted EBITDA…

Could Sony-Honda vehicles get sold, serviced by competitors?

Management said the auto industry was on the brink of change. Sony, inventor of the Walkman, and Honda, purveyors of the groundbreaking CVCC engine used in the original Civic, are…

Lear Q4 earnings: Net income surges to $118M

rear strains It fell 2.5% to $145.76 in afternoon trading. The company has achieved a $1.8 billion backlog in its core seat business by 2025 and nearly $1 billion in…

Asbury Q4 earnings: Net income more than doubled

Asbury Automotive Group Inc. profit doubled in fourth quarter as Duluth, Georgia public retailer closed first full-year profit, boosted by December 2021 acquisition of Larry H. Miller Dealerships That’s it.…

Mercedes-Benz USA marketing boss Drew Slaven departs

Atlanta — Drew Slaven, longtime head of marketing and interim CEO of Mercedes-Benz USA, has left the company. In a note to dealers of brands reviewed by car newsDimitris Sirakis,…

Jaguar Land Rover adds 3rd Defender shift to meet demand

LONDON — Jaguar Land Rover has added a third shift of Land Rover Defender SUVs at its Slovakian plant to close an order backlog for the company’s best-selling model. Available…

Europe cars sales expected to grow in 2023

PARIS — The European auto industry experienced one of its worst sales years in 2022, but sales should rebound in 2023, according to three forecasters. Dataforce said Thursday it expects…

Ferrari raises earnings outlook on robust demand

Ferrari has raised its outlook on strong demand for higher-margin models such as the new €390,000 ($428,000) Prosangue. Italian automaker now expects adjusted earnings before interest, taxes, depreciation and amortization…

Volvo readies EV push in biggest product revamp under Geely

The two people, who are familiar with Volvo’s plans, requested anonymity because the details have not been released by the company. Geely declined to comment. Among the new battery electric…

Renault, Nissan directors set to approve alliance deal

The boards of Renault and Nissan announced a landmark deal to rebuild their troubled 20-year partnership just hours before an official event to unveil the details of the plan, according…