Company Information

Bosch says automotive sales rose 9% in 2014

Jan. 30, 2015 11:30 CET
Bosch said revenue at its automotive division rose 9 percent to 33.3 billion euros ($37.7 billion) last year, boosted by growth in sales of fuel-saving technology and infotainment systems. The supplier also said it is looking at acquisitions for its non-automotive businesses to reduce dependence on the car industry....
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Renault will increase dealer rebates in China as market demand slows

Jan. 30, 2015 11:32 CET
Renault will give its China dealers more rebates and moderate sales targets as demand cools. Sales growth of passenger vehicles in China will probably slow to 8 percent this year from 10 percent in 2014, according to an industry association....
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BMW, Toyota may cooperate on entry-level Mini, report says

Jan. 30, 2015 06:01 CET
BMW and Toyota may cooperate on a small, decontented entry model for the Mini lineup that would be called the Minor, a German media report said. Toyota could sell its own version of the car, which may be called the Starlet, the report added....
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Honda cuts profit target as Takata airbag recalls bite

2:52 am U.S. ET | Jan. 30, 2015
Honda sliced 6.5 percent off its core annual profit forecast as it set aside hundreds of millions of dollars in extra cash to cover an extended car recall to replace potentially faulty airbags made by Takata. Honda also said third-quarter earnings fell 23 percent as it soaked up recall costs....
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THE TAKATA RECALL CRISIS

New crash death may be linked to Takata airbag

6:21 pm U.S. ET | Jan. 29, 2015
American Honda has alerted federal safety regulators to another fatal crash involving the possible rupture of an airbag inflator made by Takata, the embattled supplier whose airbags are behind the recall of some 24 million vehicles worldwide....
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Group 1 and Prestige settle Fla. buy-sell dispute

3:50 pm U.S. ET | Jan. 29, 2015
A dispute between Prestige Motor Car Imports and Group 1 Automotive over a buy-sell deal in Florida gone wrong is settled and the deal is back on -- for now, both sides said....
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THE TAKATA RECALL CRISIS

U.S. safety regulators seek Takata whistleblowers

2:10 pm U.S. ET | Jan. 29, 2015
Federal safety regulators want to find whistleblowers with knowledge “of possible defects or any wrongdoing” by Takata, stepping up pressure on the airbag maker whose products are linked to five deaths and dozens of injuries....
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Ford's 2014 profit fell 56 percent amid new-product blitz

7:00 am U.S. ET | Jan. 29, 2015
Ford posted a drop in fourth-quarter profit and said earnings fell 56 percent in 2014 as it introduced 24 vehicles worldwide while US market share declined. CFO Bob Shanks predicted "a lot of strong growth numbers from Ford in 2015."...
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2015 CHICAGO AUTO SHOW

Kia to unveil off-roader concept at Chicago show

3:34 pm U.S. ET | Jan. 29, 2015
Kia Motors will unveil a rugged concept car with electric all-wheel drive at the Chicago Auto Show, the automaker said today as it released a teaser image....
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VW could beat 5 million euro savings goal, exec says

Jan. 29, 2015 16:09 CET
VW Group ought to be able to cut costs at its passenger-car brand by "substantially more" than the 5 billion euros ($5.7 billion) planned by the carmaker's top management, VW works council chief Bernd Osterloh said....
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U.S. driver death rates fall more than a third in 3 years, IIHS says

2:40 pm U.S. ET | Jan. 29, 2015
After the year of the recall, the Insurance Institute for Highway Safety shared some positive news about vehicle safety: The likelihood of driver deaths in late-model vehicles has fallen more than a third in the US in three years, IIHS said in a status report today....
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Toyota recalls 52,000 Avalons to fix potential wiring fire hazard

10:13 am U.S. ET | Jan. 29, 2015
Toyota Motor Sales USA said it plans to recall about 52,000 Avalon sedans from the 2011-12 model years for wiring that could cause a fire....
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Autoliv sees 2015 growth, better margins as Q4 beats forecast

7:25 am U.S. ET | Jan. 29, 2015
Auto safety products supplier Autoliv today said it saw slightly higher margins in 2015 as it posted fourth quarter earnings above market expectations, helped by strong sales in Europe and lower costs for raw materials....
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Bollore eyes Los Angeles in car-sharing expansion

Jan. 29, 2015 11:45 CET
Vincent Bollore is targeting Los Angeles and Singapore as the next markets for his electric-car sharing service after its debuts later this year in London and Indianapolis.The French car-sharing service currently has about 70,000 subscribers in Paris....
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Marchionne has FCA on fast track to profit in Europe

Jan. 28, 2015 16:28 CET
Fiat Chrysler Automobiles will be profitable in Europe a year earlier than expected, CEO Sergio Marchionne said. Previously, Marchionne said the automaker's regional operations in Europe, Middle East and Africa (EMEA) would break even this year and turn a profit in 2016....
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GM denies request by U.S. senators to extend ignition-switch claims deadline

4:05 pm U.S. ET | Jan. 28, 2015
General Motors today denied a request from two US senators to extend the Saturday deadline for victims of the company's defective ignition switch to apply for compensation. “Our goal is to be just and timely in compensating the families who lost loved ones and those who suffered physical injury," GM said in a statement. "We previously extended the deadline until January 31, and we do not plan another extension.”...
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Gentex Q4 sales gains lag forecasts; stock drops

11:53 am U.S. ET | Jan. 28, 2015
Gentex, a mirror, camera and electronic component supplier, said its fourth quarter net income rose a disappointing 2 percent while overall revenue jumped 7 percent from a year earlier. Gentex shares fell 6 percent....
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Over-the-air auto software updates opens market to acquisitions

2:47 pm U.S. ET | Jan. 28, 2015
Over-the-air software updates -- a no-fuss, no-muss infotainment feature popularized by Tesla Motors -- is rapidly spreading to the entire auto industry, fueling high-price acquisitions in the segment....
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Fiat Chrysler's $4.1 billion operating profit in 2014 fueled by N.A.

8:51 am U.S. ET | Jan. 28, 2015
Fiat Chrysler Automobiles met its full-year guidance as strong results from North America and improving operations in Europe managed to offset persistent weakness in Latin America....
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Japanese supplier Sanden agrees to $3.2 million fine in U.S. price-fixing case

6:33 am U.S. ET | Jan. 28, 2015
Japanese supplier Sanden has agreed to pay a US fine of more than $3 million and becomes the latest company tied to a wide-ranging auto supplier price-fixing prosecution for its brief role in setting the prices of air conditioning compressors for Nissan....
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TI Automotive to be acquired by Bain for $2.4 billion, report says

8:36 am U.S. ET | Jan. 27, 2015
Global fuel systems supplier TI Automotive, after months of wrangling and speculation, said today it has agreed to be acquired by private equity firm Bain Capital LLC. The deal is valued at $2.4 billion, sources told Bloomberg....
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Renault poised for big boost from new SUV

Jan. 27, 2015 06:01 CET
Renault's new Kadjar will become a top-seller in Europe's key compact SUV segment, according to a forecast. The French automaker needs a boost after its Koleos flopped in a fast-growing niche dominated by alliance partner Nissan's Qashqai....
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Soros is ready to move on auto dealerships

3:40 pm U.S. ET | Jan. 26, 2015
Wall Street powerhouse Soros Fund Management is ready to move on a deal to acquire auto dealerships, a representative of the fund said at a private dinner Saturday in San Francisco, according to two sources who attended the event. Soros is prepared to invest as much as $1 billion on dealerships, one of the sources said....
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Dana sells Venezuelan unit amid exchange rate trouble

4:05 pm U.S. ET | Jan. 26, 2015
As Venezuela’s automotive industry continues to falter amid exchange rate problems, powertrain supplier Dana Holding today said that it has sold its Venezuelan unit, CA Danaven....
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GM’s confirmed ignition deaths hit 50 as claims deadline nears

1:14 pm U.S. ET | Jan. 26, 2015
Confirmed deaths tied to General Motors' defective ignition switches stand at 50, four times GM’s estimate through much of 2014, as a deadline nears Saturday for sending in claims....
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