Takata sets aside additional $189 million to cover airbag recall costsMon, 02, May 2016
Takata raised provisions for its airbag recalls that involve more than a dozen auto manufacturers, after denying reports that the biggest safety crisis in the industry's history will expand further.
Ito named CEO of Denso International AmericaFri, 29, Apr 2016
Kenichiro Ito has been named CEO of Denso International America as part of several top management changes at the Japanese auto parts supplier, the company said in a press release.
Autoliv sees annual sales growth of 7% after robust Q1 earningsFri, 29, Apr 2016
Autoliv, continuing to generate new business in the wake of the Takata airbag recall crisis, reported a bigger than expected rise in first-quarter earnings and raised its forecast for like-for-like sales this year while affirming its margin outlook.
Visteon reports drop in Q1 net income but gross margin risesThu, 28, Apr 2016
Visteon, the former Ford parts unit that supplies various automotive electronics, on Thursday reported net income of $19 million on revenue of $802 million.
Continental raises margin target after Q1 profit gainFri, 29, Apr 2016
Continental raised its profit margin target for this year after stronger demand for tires and industrial components pushed first-quarter profit and sales higher.
Stop-sale backlog hits public groups' earningsMon, 02, May 2016
Several publicly traded dealership groups noted that cars and truck languishing for months on their lots under stop-sale orders due to recalls hurt their first-quarter earnings. The problem could linger into 2017.
BorgWarner Q1 adjusted earnings rise 5%Thu, 28, Apr 2016
Turbocharger and emissions systems supplier BorgWarner said today its first-quarter adjusted earnings rose on higher sales, even as one-time costs dragged down its net income.
From guy off the street to executive VPMon, 02, May 2016
Pettercq Witt, who was named executive vice president, operations, for BMW of North America last week, used a variety of gimmicks to get hired in the first place.
Supplier Tower International cancels plan to sell European unitThu, 28, Apr 2016
Tower International, which makes heavy metal components and assemblies for cars and trucks, said today it will not sell its European division, citing the industry's growth in the region.
Denso's fiscal-year net falls 5.8%; Aisin Seiki's climbs 14%Thu, 28, Apr 2016
Denso's net income fell 5.8 percent in the fiscal year which ended March 31, even as revenue rose 5 percent, the parts supplier said. Separately, Aisin Seiki said its net rose 14 percent as revenue rose 9.4 percent.
VW open to new partnerships but not talking to Google, AppleThu, 28, Apr 2016
VW will open itself up to more partnerships and strategic investments to help generate a "substantial proportion" of its revenue from new business models, CEO Matthias Mueller said. Discussions are already at an "advanced stage," but Google and Apple are not among tech companies VW is in discussions with, he said.
Superior Industries more than triples Q1 net incomeWed, 27, Apr 2016
Aluminum-wheel supplier Superior Industries more than tripled its first-quarter net income, driven by a 25 percent gain in wheel shipments.