Toyota surprises with profit, boosts forecast AP (November 05, 2009) TOKYO (AP) - Toyota Motor Corp. announced Thursday a surprise profit last quarter and trimmed its projected red ink for the year, underlining the gradual recovery under way for Japan's giant automakers.
Ford to put air bags into back seat belts AP (November 05, 2009) DETROIT (AP) - Air bags have long been mounted in the steering wheel, dashboard and sides of vehicles. Now, they're in the seat belts.
Ford to put air bags into back seat belts of SUV AP (November 05, 2009) DETROIT (AP) - Air bags have long been mounted in the steering wheel, dashboard and sides of vehicles. Now, they're in the seat belts.
Toyota returns to profit in latest quarter AP (November 05, 2009) TOKYO (AP) - Toyota said Thursday it returned to a profit in the latest quarter as government incentives boosted sales, leading the world's largest automaker to trim its projected red ink for the year.
Opel workers across Germany protest GM move AP (November 05, 2009) RUESSELSHEIM, Germany (AP) - Fearing widespread layoffs, thousands of Opel workers walked off the job across Germany on Thursday to protest General Motors Co.'s decision to abandon the unit's sale to new owners.
'Clunker' data show pickup-for-pickup trades AP (November 05, 2009) WASHINGTON (AP) - Billed as a way for the government to put more fuel-efficient vehicles on highways, the popular $3 billion Cash for Clunkers program mostly involved swaps of old Ford or Chevrolet pickups for new ones that got only marginally better gas mileage, according to an analysis of new federal data by The Associated Press.
GM boss: Opel to pay for most of its restructuring AP (November 05, 2009) DETROIT (AP) - General Motors Co. CEO Fritz Henderson said Thursday its European Opel unit will pay for most of the $3 billion it needs to restructure.
Delphi Automotive creates new board of directors AP (November 04, 2009) NEW YORK (AP) - Delphi Automotive LLP, which exited bankruptcy protection last month, said Wednesday that it has created a new board that will be led by former DuPont Chairman John Krol.
Chrysler aims to revamp Dodge cars under new plan AP (November 04, 2009) AUBURN HILLS, Mich. (AP) - Chrysler plans to revamp its struggling Dodge car brand under a new turnaround plan and says the company's cash has grown by nearly $2 billion since it exited bankruptcy protection in June.
Germany fumes over GM ditching Opel sale to Magna AP (November 04, 2009) BERLIN (AP) - Germany's politicians fumed with anger and Opel workers cancelled cost concessions and readied walkouts after General Motors Co. abandoned the sale of its European subsidiary to parts maker Magna International and Russian bank Sberbank.
Audi's performance S4 drops its V-8 for 2010 AP (November 04, 2009) (AP) - You don't see this very often: a car company dropping a V-8 engine from a performance car and replacing it with a V-6. But German automaker Audi does it in its 2010 S4 compact sedan.
TRW Automotive turns 3Q profit on lower costs AP (November 04, 2009) LIVONIA, Mich. (AP) - TRW Automotive Holdings Corp. posted a third-quarter profit of $56 million on Wednesday, as cost cuts helped the auto parts supplier recover from a loss a year earlier. It also raised its full-year sales forecast.
Nissan returns to quarterly profit on China sales AP (November 04, 2009) TOKYO (AP) - Japanese automaker Nissan Motor Co. climbed into the black last quarter and forecast a smaller yearly loss as surging sales in China helped offset sluggish demand in the West.
Delphi Automotive creates new board of directors AP (November 04, 2009) NEW YORK (AP) - Delphi Automotive LLP, which exited bankruptcy protection last month, said Wednesday that it has created a new board that will be led by former DuPont Chairman John Krol.
BMW 3Q net income falls 74 percent to euro78 million AP (November 03, 2009) FRANKFURT (AP) - German carmaker BMW AG said Tuesday its net income fell 74 percent in the third quarter as it continued to be affected by the global economic downturn.
GM posts 1st monthly sales gain in almost 2 years AP (November 03, 2009) DETROIT (AP) - GM reported its first monthly gain in U.S. sales in almost two years while Toyota and Ford also improved, a sign the auto industry it starting to crawl back from a yearlong slump.
2 Ford Motor senior executives to retire AP (November 03, 2009) DEARBORN, Mich. (AP) - Ford Motor Co., which surprised the market by posting a third-quarter profit, said Tuesday that two of its senior executives are retiring.
Ford surprises with $1B profit; sees profit in '11 AP (November 02, 2009) DEARBORN, Mich. (AP) - Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.
Oprah on the road? Chrysler offers live TV service AP (October 29, 2009) AUBURN HILLS, Mich. (AP) - Chrysler Group LLC says it will begin offering customers a television service in their vehicles featuring up to 20 channels of live TV.
China confirms probe of US auto imports AP (October 29, 2009) HANGZHOU, China (AP) - China's commerce minister says Beijing is carrying out a probe of some imports of American-made autos.
VW 3Q net income falls 86 percent to euro172 million AP (October 29, 2009) FRANKFURT (AP) - German carmaker Volkswagen AG said Thursday net income for the third quarter plunged 86 percent as the global downturn affected demand for its cars and trucks.
Mazda, Mitsubishi slide into red in first half AP (October 29, 2009) TOKYO (AP) - Mazda and Mitsubishi Motors - Japan's No. 4 and No. 5 automakers - reported half-year net losses Thursday, battered by plunging sales and the strong yen.
Treasury, GMAC in talks for 3rd round of US aid AP (October 28, 2009) NEW YORK (AP) - GMAC, the former lending arm of General Motors Co., is in talks with the Treasury Department for a third injection of taxpayer aid, a further sign of the U.S. government's entrenchment in the U.S. auto industry.
Japan's automakers set production records in China AP (October 28, 2009) TOKYO (AP) - Japanese automakers are experiencing a production boom in China with Toyota, Honda and Nissan setting records for September - the latest signs of an emerging recovery for Japan's auto industry.
Goodyear profit more than doubles in 3Q AP (October 28, 2009) CLEVELAND (AP) - Goodyear Tire & Rubber Co.'s profit more than doubled in the third quarter, helped by cost-cutting, new products and lower raw-material costs, the largest U.S. tiremaker said Wednesday.
Ford: China's Geely preferred bidder for Volvo AP (October 28, 2009) DETROIT (AP) - Ford Motor Co. has picked a consortium led by China's Geely Group as the preferred bidder to buy its Swedish Volvo Cars unit, the U.S. automaker said Wednesday.
Honda raises forecast, avoids loss for first half AP (October 27, 2009) TOKYO (AP) - Japanese government incentives for green cars and strong sales in China helped Honda Motor Co. avoid red ink for the first half and raise its full year profit forecast.
Johnson Controls posts 4Q profit, backs guidance AP (October 27, 2009) MILWAUKEE (AP) - Johnson Controls Inc. said Tuesday that cost cuts and operational improvements bolstered its profit in the fourth quarter, helping to offset the effects of the continued weak economy on its sales.
Fisker to build hybrid cars at idled Del. GM plant AP (October 27, 2009) WILMINGTON, Del. (AP) - California luxury automaker Fisker Automotive is buying an idled General Motors assembly plant in Delaware to produce plug-in hybrid electric cars.
Wis.: No one taking blame for higher car insurance AP (October 26, 2009) MADISON, Wis. (AP) - As insurance companies begin mailing notices to Wisconsin customers telling them that their auto premiums are likely to increase soon, state politicians are scrambling to avoid the blame.
Truck maker Volvo posts 3Q loss as sales fall AP (October 23, 2009) STOCKHOLM (AP) - Swedish truck maker AB Volvo on Friday reported a third-quarter net loss of 2.9 billion kronor ($423 million), due to a steep drop in sales in Europe and the U.S., but said demand was stabilizing, particularly in Asia.
Kia Motors quarterly profit swells to $339 million AP (October 23, 2009) SEOUL, South Korea (AP) - Kia Motors Corp. said net profit swelled to a record 402 billion won ($339 million) in the third quarter boosted by a weak South Korean won and global efforts to spur demand for vehicles, sending its shares sharply higher.
Sources: Fisker to build plug-in cars in Delaware AP (October 23, 2009) DOVER, Del. (AP) - Fisker Automotive, a California-based startup manufacturer of luxury electric vehicles, plans to build plug-in electric cars at a former General Motors assembly plant in Delaware, people with knowledge of the situation said Friday.
GM board to meet Nov. 3, will discuss Opel sale AP (October 23, 2009) FRANKFURT (AP) - A General Motors Co. executive says the company's board will meet Nov. 3 and discuss concerns about the sale of European unit Adam Opel GmbH, but he is not providing details on progress or a time frame for the actual transaction.
Hertz completes notes issuance AP (October 23, 2009) PARK RIDGE, N.J. (AP) - Rental car company Hertz Global Holdings Inc. said Friday that its subsidiary, Hertz Vehicle Financing LLC, has completed isuing $1.2 billion in medium term notes.
Goodrich cuts 2009 sales outlook AP (October 22, 2009) CHARLOTTE, N.C. (AP) - Aerospace supplier Goodrich Corp. on Thursday backed its 2009 profit prediction, but cut its sales forecast.
Hyundai Motor profit surges amid sales jump AP (October 22, 2009) SEOUL, South Korea (AP) - Hyundai Motor Co., South Korea's largest automaker and a growing force in the global industry, said third-quarter net profit more than tripled to a record high amid sharply higher sales.
Caterpillar picks Oberhelman as next CEO AP (October 22, 2009) PEORIA, Ill. (AP) - Caterpillar Inc., the world's largest maker of construction and mining equipment, said Thursday that Douglas Oberhelman will become the company's CEO starting in July of next year.
Automaker Fiat's profit drops 95 pct in 3Q AP (October 21, 2009) MILAN (AP) - Italian automaker Fiat Group SpA saw profits plunge in the third quarter as falling sales of trucks and farm equipment outweighed a boost in car sales from cash-for-clunkers programs.
CPSC eyes side-by-side recreational vehicles AP (October 21, 2009) WASHINGTON (AP) - The federal government is taking a closer look at off-road recreational vehicles, known as ROVs, after dozens of deaths.
Miss. lawmakers hear talk of possible session AP (October 21, 2009) JACKSON, Miss. (AP) - Several Mississippi lawmakers say they've heard a special session is possible in the next couple of weeks, with speculation that it would involve incentives for a proposed auto plant in Tunica County, but Gov. Haley Barbour has not made an announcement.
Auto task force shocked by state of GM, Chrysler AP (October 21, 2009) WASHINGTON (AP) - The shockingly poor financial management of General Motors and Chrysler weakened their case for a government bailout, but officials feared letting the automakers collapse would severely harm the U.S. economy, the former head of the Obama administration's auto task force says.
China auto output hits 10 mln units for 1st time AP (October 20, 2009) SHANGHAI (AP) - China's annual auto production surpassed 10 million for the first time on Tuesday, as a new "Liberation" model truck rolled off the assembly line at state-owned First Automobile Works, state media reported.
Toyota pushes into SKorea, home turf of Hyundai AP (October 20, 2009) SEOUL, South Korea (AP) - Toyota is making a push into South Korea - the home market of international rival Hyundai Motor Co. - introducing four models including the Camry and Prius while downplaying the move as a direct challenge to domestic automakers.
Caterpillar 3Q profit drops 53 pct on weaker sales AP (October 20, 2009) (AP) - Caterpillar sees signs of a recovery and said its sales will improve next year as dealers start restocking the company's yellow-and-black equipment used in construction and mining.
GM: 15 vehicles returned under money-back program AP (October 20, 2009) NEW YORK (AP) - Just a tiny fraction of General Motors customers have returned their cars for refunds under the automaker's heavily advertised money-back guarantee program - and most buyers aren't even choosing to participate in the plan, opting for a rebate instead.
Spanish workers reject Magna offer AP (October 19, 2009) MADRID (AP) - A Spanish labor representative says unions have rejected Magna's latest offer concerning the future of an Opel plant targeted for job cuts and will vote on calling a strike.
School bus manufacturer to recall small buses AP (October 19, 2009) WASHINGTON (AP) - A New York-based school bus manufacturer has agreed to recall nearly 6,000 small school buses after the government alleged that the company tried to shift responsibility for the recalls by changing its name.
Daimler starts construction of Hungary car plant AP (October 16, 2009) FRANKFURT (AP) - German carmaker Daimler AG started construction Friday on a new euro800 million ($1.2 billion) car production facility in Kecskemet, Hungary, near Budapest, the company said.
Harley-Davidson 3Q profit falls on lower shipments AP (October 15, 2009) NEW YORK (AP) - Harley-Davidson Inc. said Thursday that its third-quarter profit slid 84 percent on fewer motorcycle shipments and recession-related difficulties in getting loans for its customers.
GM chief says parties working to sign Opel deal AP (October 15, 2009) INCHEON, South Korea (AP) - General Motors Co. CEO Fritz Henderson said intense discussions were still under way to complete the sale of its German auto unit Opel, though stopped short of guaranteeing an agreement would be signed this week.
Ford adds 4.5M vehicles to defective switch recall AP (October 14, 2009) DETROIT (AP) - Ford Motor Co. said Tuesday it will add 4.5 million older-model vehicles to the long list of those recalled because a defective cruise control switch could cause a fire.
General Motors aiming to beat China market growth AP (October 14, 2009) SHANGHAI (AP) - General Motors Co. is aiming to beat the already fast pace of growth in the Chinese market, with sales in 2009 possibly surpassing 1.6 million vehicles, its China President Kevin Wale said Wednesday.
Sept. retail sales fall 1.5 percent post Clunkers AP (October 14, 2009) WASHINGTON (AP) - Retail sales declined in September by the largest amount this year as car sales plummeted following the end of the government's popular Cash for Clunkers program. But outside of autos, sales were better than expected.
Indian vehicle sales rise 17 percent in September AP (October 13, 2009) MUMBAI, India (AP) - India's auto sales rose 17.1 percent in September from a year earlier to 212,975 vehicles, as holiday buying, easier credit and rising consumer confidence fueled growth in India's auto sector.
Ford, UAW reach tentative deal on contract AP (October 13, 2009) DETROIT (AP) - The United Auto Workers union says it has reached a tentative deal with Ford Motor Co. on contract concessions.
GM chief says Opel sale may come this week AP (October 13, 2009) SHANGHAI (AP) - General Motors could finalize the sale of its German auto unit Opel as early as this week, the U.S. automaker's CEO said Tuesday.
China auto sales jump 78 percent in September AP (October 13, 2009) SHANGHAI (AP) - China's vehicle sales vaulted 78 percent in September from a year earlier, widening a lead over the U.S. as the world's top auto market, with sales spurred by tax cuts and government stimulus spending.
General Dynamics unit gets $646.9M Army deal AP (October 12, 2009) WASHINGTON (AP) - A division of General Dynamics recently received a $646.9 million contract from the Army to provide 352 Stryker vehicles, the Pentagon said late Friday.