Latest from Adam Rubenfire
Ford is teaming up with researchers at the St. Petersburg Polytechnic University in Russia to study communication between robots at the International Space Station and Earth in the hope of developing better systems for connected cars.
Tesla Motors earlier this month filed three trademark applications for the name "Model E," according to the federal Patent and Trademark Office's Web site. The applications refer to use of the name in "automobiles and structural parts therefore," automobile maintenance and repair services, as well as apparel.
Ford is teaming up with researchers at the St. Petersburg Polytechnic University in Russia to study communication between robots at the International Space Station and Earth in the hope of developing better systems for connected cars.
Group 1 Automotive, the nation's fourth-largest dealership, raised its quarterly cash dividend by 6 percent, or 1 cent per share.
The Department of Treasury continues to divest its shares in General Motors, following its pledge last December that it would fully divest from its investment in GM within 12-15 months. The Treasury received total net proceeds of about $877 million from sales of GM common stock in July, the department's monthly report to Congress said.
General Motors' sales rose 16 percent in July to 234,071 units in the United States, as full-sized pickup deliveries jumped 44 percent and all four of the automaker's brands posted double-digit increases, the company said today.
Denso's profits surged in the quarter that ended June 30, in part because of currency gains, as revenue rose on higher vehicle production in North America and emerging markets, the world's second-largest automotive parts supplier said today.
Weeks after its acquisition of Dollar-Thrifty was approved, Hertz Global Holdings posted sharply higher adjusted net income during the second quarter. The company said its adjusted net income for the quarter was $204.4 million, up 32 percent from last year.
Automotive seating and electrical component supplier Lear today reported a mostly positive second quarter, gaining $224 million in operating earnings before one-time items and affiliate income -- a 13 percent from the same quarter last year. The news sent Lear shares up 2.8 percent.
Alex Molinaroli will be the next president, CEO, and chairman of Johnson Controls, the company announced today. Molinaroli, 53, will replace current president and CEO Stephen Roell on Oct. 1. He will also join the company's board of directors when he becomes chairman on Jan. 1, 2014.
