Canadian supplier Magna International forecast a surprise fall in fiscal 2015 revenue, hurt by falling sales in its production and contract manufacturing businesses.
TI Automotive, the auto fuel-systems maker that came close to a deal with Bain Capital Partners LLC last year, is again near an agreement to sell itself to the private equity firm, people with knowledge of the matter told Bloomberg.
News
14 Jan, 2015
Volkswagen adds two distinctive variants of up! city car, with extra colours, styling and equipment
Ford's product development chief Raj Nair has said the launch of the new, aluminum-body F-150 pickup truck is on schedule and the vehicles are selling in an average of five days after reaching dealer showrooms.
Honda will invest $340 million to build fuel-efficient, gasoline engines in Ohio, as it plans a slate of new electric cars in a push for more vehicles with lower emissions.
Honda plans to spend another US$340m in its Anna Engine Plant, at Dayton, Ohio to install a third manufacturing line for the I4 VTEC turbo engine.
If its turnaround is successful, Ssangyong Motor (SYMC) plans to rehire employees who lost their jobs in April 2009, parent Mahindra Group said.
Samvardhana Motherson Group (SMG) will open an automobile mirror plant in Marysville, Ohio, on 19 January. The US$40m plant is part of the company's greenfield expansion plan in the US and China.
Beginning 22 January, Mercedes Benz will increase the price of its vehicle lineup in India by around 4%.
General Motors posted its second straight year of record global vehicle sales, with deliveries growing 2 percent to 9.9 million units.
Fiat Chrysler plans to sell Ferrari's shares by June. In the first half of 2015, only 10% of the holding will be listed in the US to raise US$5bn. The company also plans to finish a draft of the filing by the first quarter of 2015.
A unit of Guangzhou Automobile Group is considering building its first foreign car plant in Russia despite political and currency troubles in that country, a senior executive said.
Toyota will build more SUVs this year at factories in Japan and Canada to meet rising US demand, the carmaker's top North American executive said.
Alfa Romeo plans to manufacture its first compact sport-utility vehicle and a sedan, referred to as Giulia, at its Cassino plant near Rome, Sergio Marchionne, Fiat Chrysler CEO, said.
Tesla Motors chief Elon Musk has revealed that the company's sales in China were 'unexpectedly weak' during the fourth quarter of last year.
Ally Financial will deal with General Motors' decision to stop using the lender for discounted leases on new cars by expanding business with dealers for other automakers, a spokeswoman has said.
News
14 Jan, 2015
Tesla has quietly confirmed powertrain details of its 2016 Model X SUV, production model will get 'falcon wing' doors
Exhausted salvers are to take advantage of "terrible" weather forecast to smash into Southern England tonight (14 January) to rest as it is revealed they have had to use expert roping teams to move around the stricken Hoegh Osaka carliner.
Hyundai Motor chairman, Chung Mong-koo, and his vice-chairman son Chung Eui-sun, this week failed to sell over 5m shares worth some US$1.25bn in affiliated logistics company Hyundai Glovis to Seoul-based financial institutions.
PSA Peugeot Citroën has posted unit sales up 4.3% to 2,939m vehicles in 2014 with sales in China - its largest market - up a whopping 31.9% to 734,000 units.
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