Author: Automotive News Breaking News Feed

Volkswagen posted a 20 percent increase in third-quarter operating profit as Europe’s largest automaker cut costs to compensate for a slumping market in its home region that’s pressuring manufacturers to lower car prices.

Chrysler said net income rose to $464 million in the third quarter as strong sales of pickups and SUVs offset delays in launching the 2014 Jeep Cherokee.

Honda’s second-quarter net profit rose 46 percent after strong car sales in its biggest market, the United States.

Johnson Controls said it would explore various options for its unprofitable automotive interiors unit, including a divestiture.