Mexican Media Brands
American Axle’s Net Income Jumps 38%
American Axle & Manufacturing Holdings Inc. reports its net income in the third quarter climbed to $61 million from $44 million in the same period of 2014.
#economics
Share
American Axle & Manufacturing Holdings Inc. reports its net income in the third quarter climbed to $61 million from $44 million in the same period of 2014.
Net sales for the Detroit-based supplier advanced 2% to $972 million. Operating income for the three-month period climbed 21% to $93 million. Results were driven by strong demand for SUVs and pickup trucks, which use the company’s driveline products.
AAM was created in 1994 from former General Motors Co. operations. The company says it generated one-third of its revenue from non-GM sales in July-September. Non-GM sales through the first three quarters of 2015 expanded nearly 13% to $994 million.
RELATED CONTENT
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.