Trade News

DETROIT -- Despite the COVID-19 outbreak impacting worldwide auto sales, seating supplier Adient plc managed to reduce its losses in its second fiscal quarter of 2020.

The company reported a net loss of $19 million on revenue of $3.5 billion in the quarter that ended March 31, compared with a net loss of $149 million on revenue of $4.2 billion during the same quarter in 2019.

Adient attributed $530 million of its $717 million decline in revenue during the quarter to the COVID-19 outbreak's impact on sales, primarily from lower vehicle production across Asia, where the coronavirus erupted earlier in the quarter than in the U.S., according to the financial report it filed with the U.S. Securities and Exchange Commission.

Offsetting the lost sales, the company cut expenses during the quarter by 18 percent, or $757 million, down to $3.3 billion. Restructuring and impairment costs also dropped by 54 percent down to $52 million during the recent quarter.

Group 1 Automotive Inc. reported a drop in first-quarter revenue and profit as the global coronavirus pandemic derailed what had been a strong start to the year.

The Houston dealership group said Tuesday that its U.S. and U.K. markets were on track for a record first quarter before March. Instead, the company has had to slash costs amid stay-at-home orders and a subsequent lack of business, though sales were beginning to improve near the end of April.

First-quarter revenue fell 4.2 percent to $2.69 billion. Net income declined 23 percent to $29.8 million. When adjusted for one-time items, the company's profit was $30.6 million.

Group 1 shares rose 8.8 percent to $58.42 in midday trading in New York.

"Beginning in early March 2020, all three of our regions were negatively impacted by 'shelter in place' mandates in most of the cities where we operate," CEO Earl Hesterberg said in an earnings release. By mid-March, Group 1's U.K. operations were clos…

René Lalique, a French glass artist and jeweler who created some of the most coveted automobile mascots — initially known as radiator caps but commonly referred to as hood ornaments today — dies May 9, 1945, at age 85.

The internal-combustion engines used in early automobiles resulted in the need for radiators to cool them, featuring caps that were visible above the engine hood. Automakers often displayed their emblems, or mascots, on radiator caps.

Small metal sculptures began to widely supplant thermometers and safety valves atop radiators in the 1920s, when the auto industry was just several decades old. Rolls-Royce' Spirit of Ecstasy, also known as the Flying Lady, debuted in 1911, becoming perhaps the most famous of all mascots.

Over time, affluent car owners often personalized the family car with favorite designs fabricated from metal.

Lalique, who worked in ivory, wood, semiprecious stones and enamel, was already a well-known, entrepreneur…

In the weeks since Jaguar Land Rover's product development centers closed to help thwart the spread of COVID-19 in the U.K., Adam Hatton, 48 and Alister Whelan, 44, have been focusing on refining how future Jaguars will look inside and out.

Hatton, a 22-year Jaguar veteran, is creative director of exterior design. Whelan, with Jaguar at 20 years, is creative director, interior design. Both spoke with Staff Reporter Richard Truett via Zoom from their home offices. Here are edited excerpts.

Q: Has the use of aluminum — which is not compatible for deep draws and dramatic bends for body panels — limited some of the shapes you've wanted to create for Jaguars? If "limited" is too strong, then maybe "influence" is better?

Hatton: It is more difficult to press shapes in aluminum than in steel, but we are experts in that field now. We know well how to get really good form into the cars, and you can see that in the cars on the road today an…

DETROIT — The UAW said Tuesday that it continues to talk with the Detroit 3 automakers about protecting workers even as Fiat Chrysler Automobiles announced plans to resume production at most U.S. plants the week of May 18.

The decision, announced as part of FCA's first-quarter earnings report, comes after the automaker pushed back initial plans to reopen plants early this month. The union opposed an early May return to work, but a UAW statement Tuesday did not renew its previous opposition.

"As for the start date, the companies contractually make that decision and we all knew this day would come," UAW President Rory Gamble said in a statement. "Our UAW focus and role is and will continue to be, on health and safety protocols to protect our members."

FCA said Tuesday it plans to restart production at its North America plants, with the exception of the Jeep Cherokee factory in Belvidere, Ill., the week of May 18. The Belvidere factory, which has been idled…

Subaru of America's lineup is a little bit faster and more extreme with the addition of the STI S209 last year. Subaru Tecnica International, Subaru Corp.'s motorsports arm, rolled out the S209 after nearly two decades of S-line models that were sold only in Japan.

The S209 — exclusive to the U.S. — has a 341-hp engine, a wide-body exterior treatment, front, rear and side spoilers, a carbon-fiber roof panel and 19-inch wheels and Brembo brakes. With a starting price of $65,880, the S209 is by far the highest priced model in Subaru's non-performance, crossover-heavy lineup. Subaru built only 209 S209s.

Here's a look at select reviews from the automotive media.

"Keeping the S209 in third gear puts it in the perfect place for quick corner exits, with the engine's maximum torque coming on at 3,600 rpm. Yes, I feel every bump in the road with this super-stiff chassis and the bump steer is a little disconcerting, but the trade-off is amazing. The S209 does my…

Join Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. He’ll speak with industry experts, insiders and Automotive News reporters about how the virus is impacting and reshaping the automotive industry.

Fiat Chrysler design chief Ralph Gilles discusses what his sketch pad looks like amid the pandemic; how the virus could reshape the design of future vehicles.

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DETROIT — Aptiv said Tuesday that the crisis brought on by the COVID-19 pandemic hit its first-quarter revenue and operating income.

Revenue for the quarter fell 10 percent to $3.2 billion, largely resulting from volume declines associated with impacts of the virus, the electronics supplier said in a statement.

Aptiv joins several other major suppliers reporting their first-quarter earnings this week during the crisis.

Aptiv previously forecast first-quarter sales of $3.47 billion to $3.57 billion and full-year sales of $14.5 billion to $14.9 billion.

Revenue declined 12 percent to $902 million in Aptiv's advanced safety and user-experience segment and 9 percent to $2.3 billion in its signal and power solutions segment in the first quarter.

Aptiv reported net income of $1.57 billion, compared with $240 million in the same period last year, resulting from the company's completion in the quarter of the formation of its joint venture with Hyu…

JERUSALEM -- Chipmaker Intel Corp. said it acquired Israeli public transit app developer Moovit for about $900 million to expand its portfolio of self-driving technologies.

The deal, announced Monday after leaking out in media reports on Sunday, will help Intel's autonomous driving unit Mobileye develop services like self-driving "robotaxis" by using traffic and public transportation data collected from Moovit's more than 800 million users in 102 countries, Intel said.

"Moovit is an acquisition that fills some very critical gaps that we have going forward," Mobileye CEO Amnon Shashua told Reuters.

Moovit will remain independent and its technology will be integrated with a goal of deploying the first robotaxis in some cities by early 2022, Shashua said.

Last month Moovit launched an emergency mobilization service, which was created for transit agencies and enterprises during the COVID-19 pandemic. The technology transforms vehicle fleets into an on…

Join Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. He’ll speak with industry experts, insiders and Automotive News reporters about how the virus is impacting and reshaping the automotive industry.

Michelle Primm, general manager of Cascade Auto Group in Ohio, warned the automotive industry to prepare for the next downturn one year before the coronavirus pandemic. Now, she's sharing her view of the current crisis and how dealers can come out the other side.

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Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

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“Daily Drive” is available on the G…