Turbocharger and emissions systems supplier BorgWarner said today its first-quarter adjusted earnings rose on higher sales, even as one-time costs dragged down its net income.
BorgWarner has recorded Q1 net sales of US$2.3bn, up 14.3%, with operating income of US$264m
The auto industry must do more if it wants to close the gender gap in its leadership positions, a report released today found. The survey was conducted by EY, a consulting firm.
China's Guangzhou Automobile Group, whose partnership with Fiat Chrysler Automobiles enables the Italian-American automaker to manufacture in China, wants Fiat Chrysler to return the favor by helping it launch U.S. sales.
Ford Motor Company on Thursday (28 April) announced a record quarterly pre-tax profit of US$3.8bn for the first quarter of 2016, up $2.1bn; net income up 113% to $2.5bn, up $1.3bn and after-tax earnings per share of $0.68, excluding special items, up $0.39 year on year. Automotive operating-related cash flow of $2.7bn was also a first quarter record.
Ford posted the highest quarterly pretax profit in its 113-year history and its best-ever results in North America, driven by higher sales of the redesigned F-150 pickup and a retooled lineup of SUVs. Ford shares rose 1.3 percent in early trading.
VW Group has a chance to post solid growth in its operating business this year even as it grapples with its emissions-cheating scandal and a strategic repositioning, CEO Matthias Mueller said.
ZF board member, Peter Lake is to assume responsibility for Asia-Pacific, which has seen sales double in the region from around EUR3bn (US$3.4bn) to EUR6.4bn.
VW Group will strengthen it cooperation with Qatar, the automaker's third-largest shareholder, CEO Matthias Mueller said, as Europe's biggest carmaker struggles to overcome its emissions-cheating scandal and reposition its business.
The German government has reached a deal with carmakers to jointly spend EUR1.2bn (US$1.4bn) on incentives to boost electric car sales.
Bosch set aside 650 million euros in 2015 for potential legal costs, including for an investigation into the company's role in VW Group's emissions scandal. Bosch makes an engine management program used by automakers including VW.
Bosch set aside 650 million euros in 2015 for potential legal costs, including for an investigation into the company's role in VW Group's emissions scandal. Bosch makes an engine management program used by automakers including VW.
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28 Apr, 2016
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Bosch has posted 2015 EBIT of EUR4.6bn (US$5.2bn) on revenue of EUR70.6bn, with the full acquisition of two former 50:50 joint ventures, BSH Hausgeräte and Robert Bosch Automotive Steering, pushing sales up by almost EUR22bn or 44%.
Just days after its former owner, Ford, announced it recycles as much as 20m pounds of stamping scrap each month using a closed-loop system at its Dearborn Truck Plant, now-Tata Motors-owned Jaguar Land Rover said it had reclaimed over 50,000 tonnes of aluminium scrap, the equivalent weight of 200,000 XE body shells, back into the production process during 2015/16.
VW will open itself up to more partnerships and strategic investments to help generate a "substantial proportion" of its revenue from new business models, CEO Matthias Mueller said.
Honda Motor said on Thursday (28 April) it would partially resume operations on 6 May at its earthquake-damaged Kumamoto factory (Ozu-machi, Kikuchi-gun, Kumamoto Prefecture), which had previously been halted until 28 April, while limited mini-car production had resumed at a subsidiary.
VW Group said it plans to pay the 12 current and former members of its management board $71.8 million for 2015, a year when Europe's largest carmaker posted a record loss due to legal and compensation costs for cheating on emissions tests.
VW Group said it plans to pay the 12 current and former members of its management board 63.24 million euros ($71.
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