MENU
SEARCH
BlackRock Inc. on Monday reported a 5.4% stake in Ford Motor Co., less than two weeks after the No. 2 U.S. auto maker reported a sharp drop in fourth-quarter profit, reported The WSJ.
BlackRock, the world’s largest asset manager, said a year ago that it had a stake of 5.2%, which represents the total amount owned by the firm’s different funds.
The move comes as Ford has told investors it will have a major rebound in 2015 from a struggle in 2014. Ford reported last month a steep drop in profits as a result of removing Venezuela from its consolidated earnings, but also had a 4.5% decline in revenue related to launching its F-150 pickup in the U.S.
BlackRock, the world’s largest asset manager, didn’t disclose plans for the stake.
Ford has forecast that pretax profits, the operating measure that Ford uses with Wall Street, will be up as much as 50% in 2015 and that it will growth sales and market share on a global basis.
GM says more than 750 dealers across the U.S. are enrolled in CarBravo and that in January CarBravo dealers sold over two times the certified volume of Chevrolet, Buick and GMC dealers using traditional CPO.
Read More →
Though traffic and profits were down in the first quarter, normally optimistic franchisees and independents saw dim current conditions while holding out visions of healthy spring sales.
Read More →
Conversions picked up last week at wholesale vehicle auctions, according to the market observer, as the spring shopping season appeared to begin.
Read More →
Eight state DMVs participate in the Vehicle Recall Search Service created by Carfax and the Alliance for Automotive Innovation to reduce the number of unaddressed vehicle recall repairs.
Read More →
A longtime newspaper journalist, Bobit Dealer Group's editor was raised on news back in the South. Now she brings that news-hound ethic to our four auto retail magazines.
Read More →
This session is designed to equip general agents with actionable strategies that can help their dealers enhance the efficiency of financial services managers.
Read More →
A flat national rate despite inflation and other financial challenges shows industry loyalty stability, annual Reynolds and Reynolds research finds.
Read More →
Providers and administrators should clearly and credibly communicate their experiences since their numbers will draw more scrutiny this year.
Read More →
Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.
Read More →
Between 2020 and 2025, gigafactory capacity grew six-fold and is set to grow another 118% by 2030, according Benchmark data.
Read More →