×

Auto Components Auto Parts and Equipment

  • *Adj profit of $1.31 misses est of $1.36. Feb 24- Auto parts maker Magna International Inc's profit missed estimates for the first time in five quarters, and the Canadian company warned that a proposed border tax by the United States could hurt the automobile industry. The company's shares were down 5.7 percent at C $55.47 on the Toronto Stock Exchange on Friday,...

  • Aurora, Ontario- based Magna said the cost of goods sold jumped 7.7 percent to $7.90 billion in the fourth quarter ended Dec. 31. The company said it expects total 2017 sales to be between $36.0 billion- $37.7 billion, compared with sales of $36.45 billion in 2016.. Net income attributable to Magna rose to $478 million, or $1.24 per share, in the fourth quarter, from $476...

  • Feb 24- Canadian auto parts maker Magna International Inc posted an 8 percent rise in fourth-quarter sales due to higher demand. The company's total sales rose to $9.25 billion in the three months ended Dec. 31 from $8.57 billion a year earlier. Net income attributable to Magna was little changed at $478 million, or $1.24 per share, compared with $476 million, or...

  • BERLIN/ RUESSELSHEIM, Germany, Feb 17- Germany will do all it can to secure Opel plants and jobs in the country if Peugeot maker PSA buys the General Motors business, Chancellor Angela Merkel said on Friday, highlighting the political challenges the carmakers face in sealing a deal. GM and PSA said this week they were in talks over a potential deal for the French...

  • General Motors may be ready to off load Opel to French automaker PSA Group for about $1 billion, according to analysts at Evercore ISI.

  • LONDON, Feb 13- European shares gained on Monday as mining stocks touched a 2 1/ 2- year high on rising copper prices and mergers and acquisitions continued to drive shares, with takeover offers sending German drugmaker Stada to a record high. It led sectoral gainers in Europe as copper prices hit their highest in 20 months in heavy trade, driven up by supply worries...

  • WASHINGTON, Feb 7- Japan's Takata Corp is set to plead guilty Feb. 27 in federal court in Detroit to a single felony count of wire fraud to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide, according to a court filing Tuesday. Takata has agreed to pay a $25 million fine, $125 million in a victim...

  • BRASILIA, Feb 7- The leaders of Brazil and Argentina said on Tuesday they would pursue closer ties with Mexico and other Latin American nations alarmed by U.S. In a state visit to Brasilia, Argentina President Mauricio Macri said that South American regional trade bloc Mercosur would focus on strengthening its relationship with Mexico, Latin America's...

  • BRASILIA, Feb 7- The leaders of Brazil and Argentina vowed on Tuesday to pursue closer trade ties with Mexico and other Latin American nations threatened by U.S. Trump has abandoned the Trans-Pacific Partnership deal that aimed to bolster trade between 12 Pacific Rim nations, including Mexico, Chile and Peru, and threatened to tear up the North American Free...

  • TOKYO, Feb 7- Honda Motor Co Ltd and Hitachi Ltd's auto parts subsidiary plan to form a joint venture to develop, produce and sell motors for electric vehicles, joining forces to better compete in the highly specialized "green" car segment. The venture will be established in July with an investment of 5 billion yen, and will be 51 percent owned by Hitachi Automotive...

  • *Shares lose a fifth of value, down by daily limit of 100 yen. TOKYO, Feb 6- Shares in Japan's Takata Corp lost a fifth of their value on Monday after sources said Key Safety Systems had been selected to lead its turnaround, fanning concern that a court-led restructuring was on the cards. The Nikkei business daily, which first reported the news of KSS's selection, said...

  • TOKYO, Feb 6- Japan's Nikkei share average rose on Monday morning as bank stocks soared following moves by U.S. Traders said that most investors are expected to stay on the sidelines before Japanese Prime Minister Shinzo Abe meets U.S. President Donald Trump on Feb. 10 and 11, with trade and currencies likely to be on the agenda.

  • TOKYO, Feb 6- Shares in Japan's Takata Corp were untraded with a glut of sell orders on Monday after sources said the struggling air bag maker had selected Key Safety Systems as the final bidder for its restructuring, raising a concern that the U.S. auto parts supplier could lead Takata into a bankruptcy. Reuters reported on Saturday that Takata's steering...

  • TOKYO, Feb 6- Shares in Japan's Takata Corp were untraded with a glut of sell orders on Monday after sources said the struggling air bag maker had selected Key Safety Systems, a Chinese-owned and U.S.-based auto parts supplier, as the final bidder to extend financial support. Reuters reported on Saturday that Takata's steering committee leading the selection...

  • DETROIT, Feb 2- Delphi Automotive Plc's fourth-quarter earnings widely beat Wall Street expectations, as the automotive supplier continued to benefit from automaker interest as it helps develop technology in the evolution toward self-driving vehicles. Delphi said its 2017 revenue will grow 4 to 6 percent at between $16.5 billion and $16.9 billion, and that...

  • DETROIT, Feb 2- Delphi Automotive Plc's fourth-quarter earnings widely beat Wall Street expectations, as the automotive supplier continued to benefit from automaker interest as it helps develop technology in the evolution toward self-driving vehicles.

  • FRANKFURT, Feb 2- Demand for chips for cars, especially in China, will lift Infineon's profit in 2017, the German chipmaker said, sticking to its forecast for revenue growth and profit margin. Chips made by Infineon are used by carmakers including Tesla and Hyundai as well as auto parts suppliers Continental and Bosch to activate airbags, enable cruise control,...

  • *U.S. 3. 0 liter owners to get $7,000- $16,000 compensation for fix. WASHINGTON, Feb 1- Volkswagen AG has agreed to pay at least $1.22 billion to fix or buy back nearly 80,000 polluting U.S. 3. 0 liter diesel-engine vehicles to settle claims it fitted illegal emissions-cheating software to the cars, court documents showed. German auto supplier Robert Bosch GmbH also...

  • STUTTGART, Jan 27- German car parts maker Bosch reported a slide in profits for 2016 as it invested in the development of products for connected and electric vehicles. It also aims to decide by the end of the year whether to start making its own cells for production of batteries to compete with Asian rivals, Chief Executive Volkmar Denner said.

  • Why Valeo is winning market share: Fund manager

    Alex Gunz, fund manager at Heptagon-Capital, discusses his favoring of Valeo's stock in the light of future developments in the car industry.