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Auto Parts and Equipment

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  • April 23- Johnson Controls Inc, the largest U.S. auto parts supplier, reported lower-than expected quarterly revenue, hurt by a stronger dollar. Johnson Controls' earlier profit forecast included a 20- cent contribution from its Global Workplace Solutions business, which it sold to CBRE Group Inc for $1.48 billion in March, the company said.

  • Johnson Controls profit doubles in 2nd qtr Thursday, 23 Apr 2015 | 7:21 AM ET

    April 23- Johnson Controls Inc, the largest U.S. auto parts supplier, reported a 103 percent rise in quarterly profit as margins rose. The company also recorded income from discontinued operations of $78 million for the first quarter ended March 31, compared with a loss of $143 million, last year. Net income rose to $529 million, or 80 cents per share, from $261 million,...

  • European shares advance, Michelin leads Thursday, 23 Apr 2015 | 3:18 AM ET

    LONDON, April 23- European shares rose towards 14- year highs on Thursday, with French tyre maker Michelin leading the automobile and auto parts sector higher after announcing its first-quarter results. Shares in Michelin rose 4.7 percent, the top gainer in the pan-European FTSEurofirst 300 index, after its first-quarter revenue rose 5.6 percent, boosted by a...

  • *IBM says one of its largest partnerships with auto sector. FRANKFURT, April 22- PSA Peugeot Citroen and IBM are working together to hook cars up to the Internet, going beyond mapping and infotainment to link vehicles up to shops, service networks and urban transport grids, the companies said on Wednesday. It could also link vehicles to retailers, an IBM executive...

  • April 16- Canadian auto-parts maker Magna International Inc said on Thursday it will sell most of its vehicle-interiors operations to Spain's Grupo Antolin for about $525 million. The deal covers 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said. "Overall, we regard the deal as positive as it takes out of a...

  • April 16- Canadian auto parts maker Magna International Inc said it would sell most of its interiors operations to Spain's Grupo Antolin for about $525 million. The deal includes 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said. The operations included in the agreement recorded about $2.4 billion in sales...

  • LONDON/ FRANKFURT, April 15- The owners of Germany's car parts maker Getrag are reviewing a stock listing or a partial sale to an industry peer to build scale, several sources familiar with the matter said. But it is now challenged after Germany's ZF Friedrichshafen acquired U.S. rival TRW Automotive Holdings to create the world's second-largest automotive...

  • WASHINGTON, March 31- German-based auto parts company Robert Bosch GmbH agreed to plead guilty to fixing the prices of spark plugs and other auto parts, the U.S. Justice Department said on Tuesday. Robert Bosch is accused of rigging bids for spark plugs, oxygen sensors and starter motors sold to Ford Motor Co, General Motors Co, and others between 2000 and 2011, the...

  • WASHINGTON, March 31- German-based auto parts company Robert Bosch GmbH agreed to plead guilty to fixing the prices of spark plugs and other auto parts, the Justice Department said on Tuesday. The company agreed to pay a criminal fine of $57.8 million. The company's settlement is the most recent in a long list of auto parts makers- 34 total- who have pleaded guilty or...

  • PARIS, March 31- French car parts maker Faurecia announced a joint-venture deal with Dongfeng, the Chinese state-controlled automotive group, in a move designed to increase its presence in the world's biggest autos market. Faurecia, majority-owned by PSA Peugeot Citroen, said on Tuesday the venture would target sales of 2 billion euros to Dongfeng and its...

  • TORONTO, March 30- The head of the Bank of Canada said a slump in oil prices is having an "atrocious" effect on the Canadian economy but a cheaper currency and incipient U.S. revival should help exports drive a recovery, the Financial Times reported on Monday. Governor Stephen Poloz said in an interview with the newspaper that the central bank still had many options...

  • PARIS, March 27- French auto parts maker Valeo plans to draw on drone software and other military technologies from partner Safran to offer self-driving vehicle platforms to carmakers by the end of the decade. While demonstrating an autonomous car and other prototype systems jointly developed with Safran, the French defence and aerospace group, Valeo said on...

  • Modular mojo: Toyota re-engineers its appeal Thursday, 26 Mar 2015 | 12:44 AM ET

    TOYOTA CITY, Japan, March 26- Toyota Motor is looking to cast off a reputation for making reliable, but often dull, cars in a wide-ranging review of its designs, technologies, factories and supply deals- a full makeover aimed at staying on top in a cut-throat industry. For decades, the Japanese automaker carved out global leadership by using common parts across many...

  • TOKYO/ MEXICO CITY, March 22- Toyota Motor is finalising plans for its first passenger car assembly plant in Mexico that could be approved by its board as early as next month, according to three people with knowledge of the matter. Toyoda last year asked planners scouting for a site in Mexico to hit' pause' and review the rationale for the project, executives familiar...

  • WASHINGTON, Feb 26- A measure that would offer financial incentives for auto industry employees to expose safety defects won unanimous backing from a U.S. Senate panel on Thursday. The vote by 13 Republican and Democratic members of the Senate Commerce, Science and Transportation Committee sends the legislation, which would allow whistleblowers to share in...

  • WASHINGTON, Feb 26- A measure that would offer financial incentives for auto industry employees to expose safety defects won unanimous backing from a U.S. Senate panel on Thursday. The vote by 13 Republican and Democratic members of the Senate Commerce, Science and Transportation Committee sends legislation to the floor of the Senate that would allow...

  • Auto parts maker Visteon's revenue rises 21 pct Thursday, 26 Feb 2015 | 7:44 AM ET

    Feb 26- Auto parts maker Visteon Corp reported a nearly 21 percent rise in quarterly revenue as higher vehicle production in Asia and Europe boosted sales of its air conditioners. Visteon reported a net loss attributable to the company of $138 million, or $3.12 per share, compared with a profit of $513 million, or $10.32 per share. Visteon's fourth-quarter profit...

  • Feb 25- Auto parts maker Magna International Inc reported stronger than expected quarterly earnings on Wednesday while announcing a higher dividend and a stock split, sparking a rally in its shares. Canaccord Genuity analyst David Tyerman said both Magna's sales and margins came in ahead of his forecasts. Magna cut its 2015 forecast for total production...

  • Feb 25- Canadian auto parts maker Magna International Inc cut its revenue forecast for 2015, hurt by weak demand from Europe. Demand for cars picked up in Europe last year after a six-year slump, boosted by incentive schemes from governments and carmakers. It lowered its forecast for production sales in Europe to $8.3 billion- $8.7 billion from $9.0 billion- $9.4...

  • Canadian auto parts maker Magna's profit rises 11 pct Wednesday, 25 Feb 2015 | 5:21 AM ET

    Feb 25- Canadian auto parts maker Magna International Inc reported a 11 percent rise in quarterly profit, helped by strong demand in North America. Magna said its dividend would rise to 44 cents per share from 38 cents after the stock split. The net income attributable to the company rose to $509 million, or $2.44 per share, in the fourth quarter ended Dec. 31 from $458...