Company Information

ZF sells bonds to help finance TRW acquisition

2:37 pm U.S. ET | April 20, 2015

ZF raised $2.4 billion with the company's first bond sale in its 100-year history to help pay for its acquisition of automotive safety components supplier TRW Automotive Holdings Corp....
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GM ignition-switch death claims rise by 3 to 87

11:47 am U.S. ET | April 20, 2015

The death count from General Motors' faulty ignition switches has reached 87, up three from a week earlier....
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Musk nearly sold Tesla to Google in 2013, new book says

11:33 am U.S. ET | April 20, 2015

A book titled Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future says Musk had a deal with Google's Larry Page to sell Tesla to the technology giant before the electric-car maker saw a turnaround in its fortunes....
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Mahindra will present bid for Pininfarina by April 29, report says

April 20, 2015 14:48 CET

India's Mahindra & Mahindra aims to present a formal offer for the car designer Pininfarina in time for the Italian company's shareholder meeting on April 29, a report said....
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DAVE GUILFORD

A GM-FCA hookup? 'Put' it in perspective

12:01 am U.S. ET | April 20, 2015

Perhaps Sergio Marchionne is banking on a loss of institutional memory at General Motors. That's the only way I can see that he might expect GM to consider buying Fiat Chrysler Automobiles....
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KEITH CRAIN

Most mergers come from weakness

12:01 am U.S. ET | April 20, 2015

Once again, there is talk about consolidation of the global auto industry. The fundamental problem with mergers is that, historically, they almost always have been of two turkeys rather than two eagles....
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EDITORIAL

Toyota's Mexico move

12:01 am U.S. ET | April 20, 2015

Production capacity is shifting rapidly to Mexico. Last week, Toyota was the latest automaker to announce plans to build or expand a plant there....
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VW to build awd vehicles in Puebla

12:01 am U.S. ET | April 20, 2015

Volkswagen will outfit its Puebla, Mexico, plant to build all-wheel-drive vehicles, according to a company source....
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ROGER WOOD, CEO, DANA CORP.

Financially strong Dana on hunt for acquisitions

12:01 am U.S. ET | April 20, 2015

Seven years after Dana Corp. emerged from bankruptcy, the supplier is looking for acquisitions. CEO Roger Wood, 52, says he aims to make some "bolt-on" acquisitions of companies to expand Dana's portfolio of driveline components for light vehicles, commercial trucks and off-highway equipment....
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Piech's grip on VW weakened by row with CEO

April 19, 2015 18:12 CET

Volkswagen Chairman Ferdinand Piech's iron grip on the automaker has been severely weakened after a confrontation with senior board members over the future of CEO Martin Winterkorn. The dispute could cost Piech his job as key power players at the automaker move to oust him, a German newspaper reported....
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Volkswagen mulls budget SUVs, minivans for China

April 19, 2015 11:13 CET

Volkswagen is exploring the possibility of developing budget SUVs and minivans in China to keep up with shifts in the market, its China chief executive, Jochem Heizmann, said. VW is considering a product family of low-cost models, he said....
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PSA and Dongfeng will develop platform for compact and subcompact cars

April 19, 2015 11:45 CET

PSA/Peugeot-Citroen and China's Dongfeng will jointly develop a platform for small cars for the Peugeot, Citroen, DS and Dongfeng brands. The platform will become operational starting in 2018 and can be used to develop up to 20 models from sedans to SUVs, PSA and Dongfeng said....
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Ford to spend $2.5 billion on new Mexico engine, transmission operations

1:08 pm U.S. ET | April 17, 2015

Ford, confirming reports from earlier this week, will spend $2.5 billion to build a new generation of fuel-efficient engines and transmissions in Mexico, creating 3,800 jobs. The company will build a new engine line within its engine plant in the northern state of Chihuahua. The company will also build a transmission plant in the central state of Guanajuato....
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GM counting on high-speed Internet services in car to drive profits

2:32 pm U.S. ET | April 17, 2015

Buyers of GM vehicles will increasingly be able to use in-car mobile broadband systems to book hotel rooms, cut deals on driver insurance, pay for data usage and conduct a host of other transactions. And each time they do, GM will get a small cut from the seller....
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Volvo narrows choices for U.S. plant to S. Carolina, 2nd state, report says

11:57 am U.S. ET | April 17, 2015

Volvo Cars is weighing a site in South Carolina against another southern state as it prepares to invest $500 million in its first US plant, people with knowledge of the matter told Reuters today....
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Lotus forms joint venture to build cars, engines in China

9:34 am U.S. ET | April 17, 2015

Lotus plans to build cars and engines in China in a joint venture, DRB-Hicom, the U.K. sports car maker's Malaysian parent company, said....
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VW's top board group backs Winterkorn as 'best possible' CEO

6:39 am U.S. ET | April 17, 2015

Volkswagen AG's supervisory board leadership panel backed CEO Martin Winterkorn, defusing a power struggle with Chairman Ferdinand Piech in saying Winterkorn is the "best possible" chief executive for the German automaker....
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South Korea steps up price-fixing crackdown on auto suppliers

10:40 am U.S. ET | April 17, 2015

South Korea, supporting a global police action against auto-parts price fixing, has hit Japanese and German suppliers with a string of fines in recent weeks. The latest penalties came Tuesday, when Germany's Schaeffler and Japan's JTEKT were fined for rigging bids on tapered roller bearings to Hyundai, Kia and Hyundai Powertech....
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Renault wants France to back down on voting rights rise

April 17, 2015 11:07 CET

Renault urged France, its largest-single shareholder, to back down from plans to increase its voting weight in the automaker, warning that the balance of power within its alliance with Nissan was at risk. The Japanese automaker holds a non-voting 15 percent stake in Renault....
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Mahindra nears deal to buy Pininfarina, sources say

April 16, 2015 14:10 CET

Mahindra & Mahindra, India's largest maker of SUVs, is in the final stages of negotiations to buy Italian design and engineering firm Pininfarina, according to people familiar with the matter, who said a deal could be reached as early as next week....
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Aluminum F-150 improves crash-test rating from all-steel predecessor

9:48 am U.S. ET | April 16, 2015

The aluminum-bodied Ford F-150 has earned a better government crash-test rating than its all-steel predecessor, countering any concerns that the lighter material would result in a weaker truck and eliminating one of the Chevrolet Silverado's advantages....
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Magna to sell interiors unit to Grupo Antolin for $525 million

9:17 am U.S. ET | April 16, 2015

Canadian auto supplier Magna has agreed to sell its interiors operations to Grupo Antolin, a Spanish supplier with global operations, in a deal valued at about $525 million, Magna said today in a statement....
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Chinese conglomerate completes acquisition of Prestolite Electric

1:11 pm U.S. ET | April 16, 2015

Chinese conglomerate Zhongshan Broad-Ocean Motor has completed its acquisition of Michigan-based supplier Prestolite Electric LLC....
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Fiat goes Dutch with first annual investor meeting in Amsterdam

6:38 am U.S. ET | April 16, 2015

After a century of meeting in Italy, Fiat shareholders convened today in Amsterdam, swapping the company's Lingotto factory with its rooftop racetrack for a luxury hotel in the Dutch city's red light district. Only 10 investors attended the session....
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Grupo Antolin to buy Magna unit for $525 million

April 16, 2015 15:17 CET

Spain's Grupo Antolin has reached an agreement to purchase Magna International's interiors unit for about $525 million, creating what Antolin estimates will be the world's third-largest player in the consolidating sector....
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