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  • Newswire

    Chinese Automaker Geely Says First-Half Profit Down 20%  

    Geely, a major domestic producer in the world's biggest automotive market, posted an RMB1.11 billion profit that beat analysts' forecasts despite a 29% drop in first-half sales compared with year-ago....More
  • Newswire

    Fuel Systems Cuts Revenue Forecast Amid Europe Slump  

    The New York-based company, whose products allow vehicles to run on propane and natural gas, says business is down in Europe, which accounts for about 40% of its revenues and is its largest market....More
  • Newswire

    UPDATE 2-Russia may ban car imports if West applies new sanctions-Vedomosti  

    * Automakers with Russian factories likely to be exempt: report * Mercedes-Benz, with no Russia car production, could suffer * Chinese, Korean carmakers might benefit from embargo (Adds comment by a European lobby group, details) By Maria Kiselyova and Katya Golubkova...More
  • Newswire

    China Finds Mercedes-Benz Guilty in Price-Fixing Case  

    Mercedes is among several foreign companies targeted by the government as it enforces anti-monopoly legislation....More
  • Newswire

    GM to Invest $2.8 Billion in Brazil Over 5 Years, Barra Says  

    CEO Mary Barra says the automaker is underscoring its commitment to one of its most important markets by investing in new products, technology and maintaining plants....More
  • Newswire

    Report Says China to Fine Audi $40 Million in Anti-Monopoly Case  

    An anonymous source tells the 21st Century Business Herald the government is basing the German luxury automaker's fine on a percentage of its 2013 car sales in Hubei province....More
  • Newswire

    PSA Peugeot Citroen Shares Continue Rallying  

    Europe's No.2 automaker, excluded in 2012 from the benchmark CAC-40 index for the first time in the index's history, has seen its stock value rebound since a $4 billion share sale to the French government and China's Dongfeng Motor Group....More
  • Newswire

    Jaguar, Land Rover Drive Threefold Jump in Parent Tata's Profits  

    The Jaguar and Land Rover luxury brands continued propping up the parent company's finances, posting a 22% increase in first-quarter sales and a 20.3% rise in operating margins....More
  • Newswire

    Fiat Waves Off Reports of Shareholder Sellout  

    Italian media reports that enough shareholders have exercised their exit rights to potentially endanger its merger with Chrysler are groundless rumors, the automaker says....More
  • Newswire

    UPDATE 2-VW operating profit drop raises pressure to cut costs  

    * Q2 group operating profit falls 3.1 pct to 3.33 bln euros * VW brand Q2 profit plunges 37 pct to 572 mln euros * Results highlight need for cost cuts -analyst * Keeps FY profit, sales guidance (Releads on VW brand profit plunge, adds analyst comment, shares) By Andreas Cremer...More
  • Newswire

    UPDATE 2-Peugeot car division back in profit as new CEO makes mark  

    * H1 cash flow 1.67 bln euros vs 203 mln year ago * H1 net loss 114 mln euros vs 471 mln loss year ago * New CEO reports progress on pricing, costs * Shares up 6 percent (Adds CEO and analyst comments, details, background) By Laurence Frost and Gilles Guillaume...More
  • Newswire

    UPDATE 2-Honda profit beats estimates but U.S. sales dented  

    * April-June oper profit up 7.1 pct, beats forecasts * FY oper profit outlook raised to 770 bln yen from 760 bln * Honda's N.American Q1 operating profit down 6 pct * Production at new Mexico plant slower than expected -exec * Still aims for annual US sales target of 1.55 mln vehicles (Adds executive comment, North American profit decline, Brazil and China information) By Yoko Kubota...More
  • Newswire

    UPDATE 2-Engine-maker Cummins ups outlook; investors underwhelmed  

    * Expects FY sales to grow between 8 and 11 pct * North America sales up 14 pct; international down 1 pct * Shares fall 3.9 pct as margin forecast unchanged (Adds details from conference call, analyst comment; updates share price) July 28 (Reuters) - Engine-maker Cummins Inc raised its revenue forecast this year, on the back of increased demand from North American truck makers, but its shares dropped as much as 3.9 percent as investors were unimpressed....More
  • Newswire

    Nissan Expects Takata to Pay All Costs Related to Airbag Recall  

    Nissan, Japan's second-biggest automaker by global sales, recalled 755,500 vehicles globally in June over potentially explosive airbags, supplied by Takata....More
  • Newswire

    Proxy Adviser Recommends Against FCA Cross-Border Merger  

    Fiat investors should vote against a cross-border merger of the two automakers, advisory group ISS says, because the action would diminish shareholder rights....More
  • Newswire

    UPDATE 2-VW faces battle with workers over cost cutting plans  

    * VW urgently needs higher profit to fund growth - CEO * CEO addresses over 20,000 workers at VW's German base * Works council chief sees conflicts with management (Adds works council chief, analyst comments, background) By Andreas Cremer and Jan Schwartz BERLIN, July 23 (Reuters) - Volkswagen, Europe's biggest carmaker, faces a battle with workers over cost cuts at its biggest car division, a central plank of its drive to meet profit margin targets....More
  • Newswire

    ZF Courting TRW for Car Connectivity, Self-Driving Savvy  

    An executive with the privately held German supplier says TRW is well-positioned to help it expand into areas such as Internet-enabled and autonomous-driving technology....More
  • Newswire

    Takata Links $440 Million Special Loss to Airbag Recalls  

    The Japanese manufacturer, which took a ¥30.4 billion charge in the year to 2013 following several global recalls of cars equipped with its airbags, still projects a net profit of ¥16 billion for the year ending in March 2015....More
  • Newswire

    UPDATE 1-VW plans 5 bln euros in cutbacks to boost brand margins  

    * VW may cease models, cut procurement costs * VW brand trails 6 pct profit margin goal * VW drawing up new mid-term group efficiency program (Adds CEO quote, detail and background) HAMBURG/BERLIN, Germany, July 15 (Reuters) - Volkswagen plans to cut costs at its core passenger-car brand by about 5 billion euros ($6.8 billion) per year from 2017, according to documents obtained by Reuters on Tuesday....More
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