Business and Finance

VW's MAN truck unit expects profit drop on restructuring costs

July 28, 2015 11:27 CET

Volkswagen Group's MAN truck unit expects costs to reorganize its European truck and bus unit will significantly lower operating profit this year, as a recession in Brazil also hits sales....
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TrueCar works on relationships

12:01 am U.S. ET | July 27, 2015

TrueCar's dealer relations ranks are getting a tune-up this summer, with a longtime industry insider leaving and two new execs joining the company. Separately, the company said problems converting enough shoppers into buyers hurt its second-quarter results....
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As dealership sales climb, margins slide

12:01 am U.S. ET | July 27, 2015

On the surface, second-quarter results from five publicly traded dealership groups last week were solid. But behind the gains lurked a disturbing trend: At all five, profit margins on new-vehicle sales fell....
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Dodge cancels unfilled '15 Hellcat orders, doubles '16 output

12:01 am U.S. ET | July 27, 2015

Dodge will more than double Hellcat Charger and Challenger production for 2016. But about 900 unfilled 2015 orders will be canceled....
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Fiat Chrysler under tighter scrutiny after record NHTSA penalty

4:10 pm U.S. ET | July 27, 2015

Fiat Chrysler Automobiles agreed to pay a $70 million fine, accept three years of close oversight by an independent monitor and buy back thousands of pickup trucks as part of a far-reaching consent agreement to settle a U.S. government probe into 23 safety recalls since 2009....
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At last, Honda and Toyota prepare for turbo charge

12:01 am U.S. ET | July 27, 2015

After years of setting the pace in fuel economy without relying on technologies like turbocharging, direct injection or CVTs, Japan's big three will spend the next several years playing catch-up....
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Sonic President Scott Smith named CEO

12:10 pm U.S. ET | July 27, 2015

Sonic Automotive is shuffling some executive positions, naming its co-founder Scott Smith to the post of CEO, effective immediately, the company said in a statement today....
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1,100-hp supercar's problem? 'Too powerful'

12:01 am U.S. ET | July 27, 2015

The founder of Denmark's Zenvo might have to go to a four-wheel-drive system for the next model, just to make the replacement for the 1,104-hp ST1 more drivable. “It's too powerful,” founder Troels Vollertsen told Automotive News....
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Hack attack vs. FCA shows flaws with rush to connectivity

12:01 am U.S. ET | July 27, 2015

By the time it was publicized last week that hackers managed to take over a Jeep Cherokee, Fiat Chrysler had posted an urgent security patch on its website and was scrambling to further lock down the system. But the industry's response is only now ramping up, as automakers come to terms with the implications of building devices that increasingly function as networked computers on wheels....
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R&D HUB

Honda flexes research muscle with new Silicon Valley center

12:01 am U.S. ET | July 27, 2015

Honda last week opened to journalists its new 35,000-square-foot Silicon Valley r&d lab, where it has united once-disparate strands of its research work and connected them with a technology incubator for other potential research partners....
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Honda's Accavitti leaves top post at Acura

5:45 pm U.S. ET | July 27, 2015

Mike Accavitti, vice president and general manager of Acura, has abruptly left the company and has been replaced by Jon Ikeda, American Honda Motor said. Ikeda was formerly division director of auto design at Honda's R&D Americas division and has been with Honda since 1989....
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FCA pact gives broad powers to NHTSA monitor

12:40 pm U.S. ET | July 27, 2015

The National Highway Traffic Safety Administration's consent agreement with Fiat Chrysler Automobiles grants sweeping powers to an independent monitor tasked with overseeing the company's safety operations, deepening the federal government's role in direct oversight over individual automakers....
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Why Hall-of-Famer Penske did not succeed Iacocca

12:01 am U.S. ET | July 27, 2015

Roger Penske, who was inducted into the Automotive Hall of Fame last week, nearly replaced Lee Iacocca as chairman of Chrysler Corp. in 1991. But it became clear to Penske that Iacocca did not plan to retire anytime soon. Iacocca has his own version of the story....
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Pickups, crossovers and powertrain dominate Japan 3 plans

12:01 am U.S. ET | July 27, 2015

Japan's big three of Toyota, Nissan and Honda have ambitious -- but divergent -- plans for the the next five years....
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Ford wins court appeal over apartheid claims

2:05 pm U.S. ET | July 27, 2015

Victims of apartheid in South Africa cannot pursue lawsuits seeking to hold Ford liable for conducting business that helped perpetuate the practice decades ago, a federal appeals court ruled today....
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Toyota begins shift to global platform

12:01 am U.S. ET | July 27, 2015

During the next few years, will see many of Toyota's cars and crossovers will migrate to versions of the automaker's new modular global platform, starting with the fourth-generation Prius due out this fall....
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Audi performance unit kills manual gearbox, naturally aspirated V-8

12:01 am U.S. ET | July 27, 2015

Audi's quattro GmbH performance division is slaughtering a few sacred cows among sports car enthusiasts....
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GM fund approves 3 more serious-injury claims

10:43 am U.S. ET | July 27, 2015

Three more serious injuries have been linked to General Motors defective ignition switches, the office of attorney Kenneth Feinberg said....
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GM Korea reaches tentative wage deal with union

9:01 am U.S. ET | July 27, 2015

General Motors' South Korean unit tentatively reached an annual wage deal with its labor union today, averting a major strike at one of its key Asian production bases, a union spokesman told Reuters....
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U.S. automakers leery of Pacific trade deal as talks near end

6:54 am U.S. ET | July 27, 2015

U.S. automakers typically back trade agreements that open markets for their products, yet they aren't cheering for a pact among 12 Pacific nations that's entering its final negotiations....
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Audi aims to raise flagging China sales with revamped A4

July 27, 2015 13:43 CET

Audi hopes that a redesigned A4 sedan will help shore up its fortunes in China where the premium brand is grappling with a second consecutive month of falling sales in its No. 1 market....
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Mitsubishi will focus production on Japan, Russia, S.E. Asia after closing U.S. plant

July 27, 2015 08:42 CET

Mitsubishi will focus production on Japan, Russia and Southeast Asia after closing its U.S. plant, the automaker's president, Tetsuro Aikawa, said. Mitsubishi currently builds cars in Thailand and the Philippines and will open a factory in Indonesia....
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Daimler will test self-driving trucks this year, report says

July 27, 2015 11:23 CET

Daimler is planning to test self-driving trucks as early as this year, Wolfgang Bernhard, chief of the automaker's trucks business, told a German newspaper....
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Valeo raises profit forecast, shrugs off China slowdown

July 27, 2015 10:54 CET

Valeo raised its profit outlook today, playing down the impact of a Chinese market slowdown after a record first-half order intake boosted by demand for driving-assistance and fuel-saving technologies....
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Mitsubishi throws in towel on fading era

12:01 am U.S. ET | July 27, 2015

Mitsubishi Motors Corp.'s decision last week to sell its only U.S. assembly plant illustrates an emerging new-world order in car production. Mitsubishi's Normal, Ill., plant was part of a wave of Asian-brand joint-venture auto plants in North America that opened in the 1980s and 1990s to do whatever was necessary to crack the all-important U.S. retail market....
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