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  • Newswire

    Truck Maker MAN Reportedly Cutting 1,800 Jobs  

    The Volkswagen subsidiary cites efforts to cut costs and restore profitability in eliminating 1,800 jobs at its main trucks division....More
  • Newswire

    EU Signs Off on Mahle Purchase of Delphi's A/C Business  

    The European Union's executive branch says it ruled the German auto supplier's $727 million purchase of Delphi's thermal systems business raised no competition concerns....More
  • Newswire

    IRS Prevails in $470 Million Tax Dispute With Ford  

    The U.S. Supreme Court left intact a lower-court ruling rejecting Ford's claim that its tax overpayments amounted to a loan to the IRS that should have accrued interest....More
  • Newswire

    Fitch Confident in European Automakers' Recovery  

    The credit-rating agency cautions that despite their improving financial health, European automakers still must contend with production overcapacity, intense competition and price pressure, regulatory burdens and weak long-term average cash generation....More
  • Newswire

    GM Dealing With Veteran Rainmaker in FCA's Marchionne  

    The Fiat Chrysler Automobiles CEO, undeterred by counterpart Mary Barra's rejection of his merger overtures, has proffered the deal to GM shareholders....More
  • Newswire

    Widened Airbag Recall Prompts Honda to Restate Earnings  

    The automaker is revising its financial results from the fiscal year ended March 31 to reflect additional spending of ¥44.8 billion on an expanded recall of potentially defective Takata airbags in the U.S....More
  • Newswire

    Peugeot Shares Up on Report of Fiat Courtship  

    Neither Peugeot not Fiat will comment on a Bloomberg News report that Fiat may target the French automaker for a merger in the wake of a rebuff by General Motors....More
  • Newswire

    Daimler Plan Targets Billions in Euro Savings  

    CEO Dieter Zetsche says he is working on the next stage of the plan that has saved €2 billion through cost cuts and efficiency gains....More
  • Newswire

    Mercedes Holding Line on Discount Levels in China  

    Mercedes sales and marketing chief Ola Kaellenius says the automaker has kept discount levels flat over the past year, despite trailing rival luxury automakers Audi and BMW in China....More
  • Newswire

    Hyundai Motor Eyes Cuts in Local Operating Costs  

    A spokesman says the depth of the cuts planned by Hyundai Motor and sister company Kia Motor will depend on third- and fourth-quarter sales....More
  • Newswire

    India's Mahindra 4Q Profit Drop Steepest Since 2008  

    India's leading seller of utility vehicles says profit for the quarter ending March 31 fell 39% to Rs5.5 billion, its steepest decline since an 89% skid in December 2008....More
  • Newswire

    China's BYD to Raise Funds for Expansion Plans  

    The Chinese automaker, which is backed by U.S. investor Warren Buffett's firm, reportedly plans to raise RMB12 billion to raise battery-production capacity and develop new models....More
  • Newswire

    UPDATE 2-Tata Motors net profit down 56 pct as Jaguar Land Rover Chinese sales drop  

    * Net profit 17.17 bln rupees vs 40.95 bln rupees forecast * JLR unit profit falls by a third * Analyst estimates forex loss of about 220 mln pounds (Adds executive comment, details) By Zeba Siddiqui and Aditi Shah MUMBAI/NEW DELHI, May 26 (Reuters) - Tata Motors Ltd , India's biggest automaker by revenue, reported a surprise 56 percent drop in quarterly net profit on Tuesday, hit by cooling demand for its sleek Jaguar saloons and sporty Range Rovers in the key Chinese market....More
  • Newswire

    UPDATE 1-Nissan CEO says no need to change Renault alliance after French govt ups stake  

    * No need to change capital alliance with Renault - Nissan's Ghosn * Nissan set aside enough funds to cover Takata-linked recalls -Ghosn (Adds Ghosn comments on Takata, background) By Maki Shiraki YOKOHAMA, Japan, May 18 (Reuters) - Nissan Motor Co Ltd CEO Carlos Ghosn said on Monday he did not think there was any need to change the automaker's capital alliance with Renault at present after France raised its stake and voting rights in Renault last month....More
  • Newswire

    Takata Won't Reserve Cash for Future Airbag Recalls, CFO Says  

    According to two analysts who attended a company briefing, CFO Yoichiro Nomura said the supplier is not earmarking more cash to pay for an expended recall of cars equipped with potentially defective airbag inflators....More
  • Newswire

    Suzuki Sees 2015 Recovery After First Profit Drop in 6 Years  

    Japan's fourth-largest automaker says annual operating profit fell 4.4%, short of its prediction of a 0.1% rise, as strong sales in India were undercut by slumping demand at home....More
  • Newswire

    UPDATE 2-Toyota flags 3rd year of record profit on strong US sales, cost cuts  

    * Sees FY net profit up 3.5 percent to nearly $19 bln * N. America sales seen up 4.8 pct; globally to drop 0.8 pct * Q4 net profit up 50 percent; last FY net profit up 19 pct (Recasts, adds president comment, Q4 results) By Chang-Ran Kim TOKYO, May 8 (Reuters) - Toyota Motor Corp said it will crank net profit up to a third straight record this year as cost cuts and rising U.S. sales offset weaker business elsewhere, building on bumper earnings last year powered largely by foreign-exchange gains....More
  • Newswire

    Canadian Supplier Magna's Sales Rise With U.S. Demand  

    The auto-parts manufacturer has raised its 2015 operating-margin forecast while predicting sales will fall because of weakened foreign currencies....More
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