Auto parts maker Linamar Corp. reported a 56 percent drop in quarterly profit today as volumes fell significantly and costs climbed. The company, which makes precision automotive components for engines and transmissions, earned C$11.
Auto parts maker Linamar Corp. reported a 56 percent drop in quarterly profit today as volumes fell significantly and costs climbed. The company, which makes precision automotive components for engines and transmissions, earned C$11.
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Sales of new cars in Italy fell 18.9% year-on-year in October to 167,940 units according to data released by Italian automotive trade body ANFIA.
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The world's largest automotive supplier, Bosch, has introduced shorter working times at its plant in Bamberg, Stuttgart.
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25 years and more than 12 million minivans later, Chrysler is celebrating the silver anniversary of their famous family-hauler.
"Chrysler and Dodge minivans have been making automotive history for the past quarter-century" said Mark Bosanac, VP of Marketing at Chrysler Canada. "To commemorate this significant minivan milestone, Chrysler Canada is proud to offer the 25th Anniversary Dodge Grand Caravan as the best-equipped minivan for the best price in Canada."
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Data released by Spanish automotive trade association ANFAC shows that Spain's car market recorded sales of just 77,660 units in October, a year-on-year decline of 40%.
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Hyundai-Kia Automotive, Microsoft and Korea's Institute for Information Technology Advancement (IITA) have opened an IT centre to jointly develop IT products and services for the automotive industry.
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The UAW has hired veteran Wall Street consultant Stephen Girsky to advise the union on automakers' federal bailout talks and a possible tie-up between General Motors and Chrysler LLC, Automotive News learned today.
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Steep drops in automotive production along with special charges helped push American Axle and Manufacturing Holdings Inc. to a third-quarter net loss of $440.9 million, compared with net income of $13.5 million for the same period a year earlier.
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Yeah, I got the Bullitt from Ford. My editor said that in his opinion "It was about time", but I think that he misunderstood what I meant! The Bullitt that I actually got was the all new Mustang Bullitt, the car designed to refresh in our minds, that famous 1968 Steve McQueen movie of the same title. Come on now, if you really profess to love all things automotive, then you have to have seen that one! It is simply the greatest high-speed car chase film ever made.
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Denso Corp.'s net income collapsed in the fiscal first half ended Sept. 30, on currency losses and falling vehicle production by automakers in North America. The world's second-largest automotive supplier also slashed its full-year earnings forecast.
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Safety systems specialist TRW Automotive Holdings has posted a third-quarter net loss of US$54m or -$0.53 per share, compared with a net profit of $23m or $0.22 per share a year ago. Sales rose 2.8% to $3.6bn.
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Penske Automotive Group Inc. said quarterly earnings fell 44 percent on declining U.S. new-vehicle sales and hurricane-related damage. Penske, which cut worldwide employment levels 4.
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Automotive retail and service company Asbury Automotive Group Inc. said today its earnings fell 68 percent amid a deep slump in the U.S. auto market and turmoil in the credit markets.
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Auto parts maker TRW Automotive Holdings Corp. today posted a quarterly loss due to lower demand and higher restructuring charges, and gave a full-year earnings outlook below Wall Street estimates.
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BorgWarner on Wednesday said international sales offset steep declines in US revenue due to declining economic conditions there as it reported third quarter results and adjusted its outlook to reflect deteriorating global economic conditions and automotive production declines in Europe.
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The automotive parts industry looks unlikely to be granted its request for special financing of up to C$1 billion (US$770m) in short-term loans and loan guarantees from the Canadian and Ontario governments, according to a government minister.
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