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Volkswagen said group production chief Michael Macht is quitting immediately, the second top executive to leave the automaker within a week.
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The latest auto news, reviews, prices, product and vehicle releases. Auto News 5
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Aug
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Both sides in South Africa's latest industrial spat are ramping up the verbal vitriol, following a major employer body's decision to lock out formerly striking metalworkers.
Aug
1st
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Both sides in South Africa's latest industrial spat are ramping up the verbal vitriol, following a major employer body's decision to lock out formerly striking metalworkers.
Aug
1st
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While the Next Problem seems to be South America, judging by the number of times it's mentioned in the results statements for the last quarter, there are signs that, after the pain, there's some gain in Europe, at last.
Aug
1st
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Evonik has reported second quarter net income down 28% to EUR139m (US$186m) compared with EUR193m in the same period last year.
Aug
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Borgwarner's net sales for the second quarter ended 30 June 2014 was up 16% to US$2.19bn as compared with $1.89bn in the same period year ago. Operating income was up 15.3% to $280.6m compared with $243.4m.
Aug
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Tesla booked second quarter net income of US$16m and $0.11 per share on a non-GAAP accounting basis but a loss of $62m and $0.50 per share on a GAAP basis, the automaker said in a letter to shareholders.
Aug
1st
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VW's CFO Hans Dieter Poetsch said the automaker's only likely acquisition is a possible increase of its stake in its FAW Chinese joint venture and not a takeover of Fiat or truckmaker Paccar.
Aug
1st
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Delphi Automotive reported second quarter net income of US$382m and earnings of $1.26 per share compared to $367m and $1.17 per share a year ago.
Aug
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Audi reported higher second-quarter operating profit, as gains from record vehicle sales outweighed the impact of spending on technology and foreign expansion.
Aug
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South Africa's Labour Ministry says business owners also have the right to strike as the country reels under yet another manufacturing setback.
Aug
1st
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Porsche sold 87,800 cars in the first half of 2014, an increase of 8% over the same period last year. Revenue grew by 16% to EUR8.2bn (US$11bn) with operating profit growing by 8% to EUR1.4bn. The company said in a statement this is equivalent to a return on sales of 17%.
Aug
1st
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U.S. auto sales, led by Chrysler's 20 percent advance and solid gains of 10 percent or more at Toyota, Nissan, and Ford, rose 9 percent in July to 1.435 million.
Aug
1st
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Major automakers, led by Chrysler's 20 percent gain, posted higher sales in July on strong retail and fleet demand. Sales rose 10 percent at Ford and 11 percent at Nissan.
Aug
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French car sales fell 4 percent in July as economic problems weighed on demand, the country's CCFA industry body said.
Aug
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Sales by India's car market leader Maruti Suzuki in July rose 21.7% to 101,380 units.
Aug
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ZF's supervisory board has given its support to continuing negotiations to buy TRW Automotive, sources said.
Aug
1st
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ZF's supervisory board has given its support to continuing negotiations to buy safety components supplier, TRW Automotive Holdings, sources told Bloomberg.
Aug
1st
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The supervisory board of German supplier ZF Friedrichshafen has given its support to continuing negotiations to buy TRW Automotive Holdings Corp., two people familiar with the matter said.
