Jaguar Land Rover will cut prices on 3 models by an average of $32,300 starting August 1, after the National Development and Reform Commission, China's state planner, launched an investigation into monopolistic prices in the auto industry, the company said in a statement on Friday.
The pace of auto sales has slowed slightly after hitting an eight-year high in June, but July's results are still shaping up to be at least 9 percent better than a year ago, according to four forecasts. The seasonally adjusted, annualized selling rate is expected to hit 16.6 million to 16.
The biggest auto-parts deal since 2007 may be just the start of consolidation, with Autoliv and Visteon among the next potential targets, analysts say. More auto parts companies may combine as overcapacity constrains their ability to add scale on their own.
VW Group is mulling a planning center in Brazil. It would be part of the automaker's 3.6 billion euro ($4.85 billion) investment in new models, plants and technology for the country through 2018, sources said.
South Africa's biggest union will probably reject the latest pay offer from employers to end a three-week strike that has idled light-vehicle output and other manufacturing because of a clause related to workplace bargaining, a union official said.
Vehicle sales at Citroen's upscale DS line, which became a stand-alone brand on June 1, fell during the first half, hit by an aging product lineup and tougher competition from refreshed rivals such as Mini.
French car parts supplier Valeo has raised its full-year earnings forecast following a 21 percent rise in first-half profit, due mainly to overseas expansion and increased demand for fuel-saving technologies.
One bad season for Manchester United has not shaken GM's belief in its sponsorship deal with the English soccer club. Chevrolet's logo appeared on players' jerseys for the first time when United beat the Los Angeles Galaxy team in a friendly match in Pasadena, California.
General Motors CEO Mary Barra comments on lessons from mom; girls who shy away from math; slicing a 10-page policy down to two words; tapping millennials to erase stupid habits; taking regular trips to Silicon... » Watch the Video