Automotive

Gentex Q2 net income grows 47 percent

3:19 pm U.S. ET | July 24, 2014
Automotive mirror supplier Gentex reported $76.7 million in net income with total revenue of $338.4 million for the second quarter....
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GM may put Brazil workers on paid leave

9:21 pm U.S. ET | July 24, 2014
GM wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union says, amid falling output in Latin America's largest economy....
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Outstanding U.S. auto loans hit all-time high, Equifax says

1:58 pm U.S. ET | July 24, 2014
Total outstanding auto loans in the United States hit an all-time high of $902 billion this spring, an increase of more than 10 percent from the same time a year earlier, according to the latest Equifax National Consumer Credit Trends Report, which was released today....
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UK car output boosted by new models in first half

July 24, 2014 10:41 CET
UK car production grew by 4 percent in the first six months thanks to new models, but the Society of Motor Manufacturers and Traders warned that further growth must be backed by bolstering the UK's parts supply chain....
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Hyundai's Q2 profit falls 7% on currency strength, weak global demand

July 24, 2014 11:34 CET
Hyundai's second-quarter profit fell 7 percent as a strong won, weakening global sales and incentives in the U.S. took their toll on earnings. To combat a strong currency, the automaker will now consider adding production overseas....
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GM Korea could make next-gen Cruze if union calls off strike

7:22 am U.S. ET | July 24, 2014
GM's South Korean subsidiary told its employee union that the automaker could consider making the next-generation Chevrolet Cruze in South Korea if the union calls off a wage-related strike....
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Hyundai nabs a win in J.D. Power APEAL Study a month after leading IQS

10:00 am U.S. ET | July 23, 2014
For the first time, Hyundai is the top-ranked nonpremium brand in the J.D. Power 2014 U.S. Automotive Performance, Execution and Layout Study -- a month after leading nonpremium brands in the company's Initial Quality Study....
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THE GM RECALL

GM recalls 717,950 vehicles, pushing year's recall tally to 60

2:07 pm U.S. ET | July 23, 2014
General Motors is recalling another 717,950 vehicles in the United States, mostly 2010-12 model year cars and crossovers, lifting its total for the year to a record 60 safety campaigns covering around 29 million vehicles globally....
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JIM HENRY

N.Y. Times story on subprime offers feds ammunition

12:01 am U.S. ET | July 23, 2014
A withering account of subprime auto lending in Sunday's New York Times reinforces bad stereotypes about used-car dealers, smears subprime lenders and their investors, takes out of context an increase in delinquencies and loan losses from record lows, and provides ammunition to auto finance industry critics in Washington....
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DAVE GUILFORD

Maybe the EPA should just hire Consumer Reports for mpg ratings

10:10 am U.S. ET | July 23, 2014
Maybe the federal government should adopt Consumer Reports as a model for fuel economy testing. Or just outsource the task to the magazine....
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Brakes supplier Brembo to build new U.S. plant

July 23, 2014 12:05 CET
Italian brakes manufacturer Brembo will build a new foundry in Michigan to expand its manufacturing capability in the United States, betting on the continued strength of the country's automotive sector....
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Chrysler recalls older Jeep Commanders and Grand Cherokees for ignition switch

4:15 pm U.S. ET | July 22, 2014
Chrysler Group will recall as many as 792,300 2006-07 Jeep Commanders and 2005-06 Jeep Grand Cherokees globally to fix ignition switches that could be knocked out of the “on” position, causing a stall and possible loss of power to the airbags. Engineers are still developing a fix, and the company says it is initiating a recall “out of an abundance of caution.”...
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Kia in talks to open $1.5 billion Mexico assembly plant, report says

6:52 pm U.S. ET | July 22, 2014
Kia is in talks with Mexico to open a new auto assembly plant worth at least $1.5 billion, officials from Nuevo Leon's state government told Reuters. The factory, which sources say will have an annual capacity of some 300,000 cars, would be built on the northeastern fringe of the city of Monterrey....
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GM to invest $800 million to renovate operations, add 1,750 jobs in Michigan

6:07 pm U.S. ET | July 22, 2014
GM plans to invest $800 million in Michigan as part of plans to renovate facilities throughout the state to support future vehicle platforms and programs. The company will also add 1,750 jobs in the state after consolidating various engineering functions outside Michigan to a site in Michigan, the state said Tuesday in enhancing economic development incentives for the automaker....
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Targeted digital video ads deliver preferred car colors

12:01 am U.S. ET | July 22, 2014
A New York company that creates personalized online video ads is harnessing the power of the palette. Say, for instance, a car shopper builds a shiny red SUV in an automaker's online configurator. Eyeview says its technology can deliver an online video advertisement of that shiny red SUV directly to that customer....
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New F-150's fuel economy will improve, but can it best Ram 1500?

2:50 pm U.S. ET | July 22, 2014
Ford's new aluminum-bodied 2015 F-150 pickup coming this fall might not be able to beat Chrysler Group's Ram 1500 and claim best-in-class fuel economy....
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Former Ford digital exec Monty joins PR and social media firm

9:16 am U.S. ET | July 22, 2014
Scott Monty, Ford's former social media chief who left the automaker two months ago, is joining Shift Communications, a public relations and social media agency with offices in Boston, San Francisco and New York....
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Germany's Rheinmetall forms new JV with China's Hasco

July 22, 2014 13:16 CET
Rheinmetall will shift a unit making aluminum engine blocks to a joint venture with China's Hasco to help finance growth at its automotive business, the German company said....
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BRADFORD WERNLE

Gobsmacked by Nick Scheele's kindness

5:34 pm U.S. ET | July 21, 2014
I'll never forget the day Nick Scheele helped me clean the fresh paint off my suit....
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Credit union backs off ads blasting dealer reserve

12:01 am U.S. ET | July 21, 2014
A Florida credit union has backed off from an advertising and social medial campaign called “Expose the Truth,” which described dealer reserve as an unfair trade practice most consumers don’t know about....
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Tesla idles California plant to retool for electric SUVs

3:37 pm U.S. ET | July 21, 2014
Tesla Motors today halted production at its sole assembly plant for the first time for a revamp the company said is necessary to speed Model S output and prepare it to make electric crossovers....
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Russia's Severstal sells U.S. steel plants to AK Steel, Steel Dynamics

8:48 am U.S. ET | July 21, 2014
Russia's Severstal said it agreed to sell its two steel plants in the United States for $2.3 billion, withdrawing from the market at a time of rising tension between Russia and the West and turning its focus to its domestic business....
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THE SUPPLIER SPEAKS

American Axle's push to diversify drives growth

12:01 am U.S. ET | July 21, 2014
CEO David Dauch continues his father's quest to diversify American Axle & Manufacturing Inc....
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Can GM sustain a quicker product pace?

12:01 am U.S. ET | July 21, 2014
General Motors' product cadence has officially escaped the post-bankruptcy doldrums. Now the challenge is to keep it humming....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

The 'better Golf'

July 21, 2014 08:09 CET
Volkswagen says the Golf Sportsvan combines the agility of the classic Golf hatchback with the roominess, easier access and higher seating position of a minivan, leading some commentators to dub it “the better Golf.”...
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