
Ford plans to reveal its next-generation F-150 pickup in 2020 as it plans to continue to dominate the U.S. pickup truck market, outgoing CFO Bob Shanks said at an investor event.
Ford plans to reveal its next-generation F-150 pickup in 2020 as it plans to continue to dominate the U.S. pickup truck market, outgoing CFO Bob Shanks said at an investor event.
Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.
General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, according to a Bank of America Merrill Lynch analyst.
Bridgestone ended the bidding war for Pep Boys on Dec. 29, and activist investor Carl Icahn was named the victor in the quest for the Philadelphia-based chain.
Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.
General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.
Navistar International Corp. announced on Tuesday that it is still losing money, but nowhere near as much as it did a year earlier, thanks to higher sales and lower warranty costs.
Top executives of Navistar detailed how the manufacturer will build on the ground it gained in the past two years and gave a five-year plan for the future at the company's analyst day, hosted at Navistar headquarters.
Cummins reported its third quarter revenue was $4.9 billion, a 15% increase from the third quarter of last year. Stronger demand for on-highway markets and distributor acquisitions in North America was a significant factor in revenue growth.
Net income totaled $606 million or $2.10 per share, up 37% from last year’s $1.53 per share. Revenue was $11.7 billion, an increase of 6% from the same time a year earlier.
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