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Auto Parts and Equipment


  • 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...

  • DETROIT, Feb 22- Chinese auto parts maker Wanxiang Group will push back its planned relaunch of the defunct Fisker Karma hybrid sports car until mid-2016 and rebrand Fisker Automotive as Elux, two sources familiar with the plan said Sunday. Wanxiang, which acquired the assets of California- based Fisker Automotive a year ago in a U.S. bankruptcy auction, had hoped...

  • WASHINGTON/ DETROIT, Feb 20- U.S. regulators on Friday slapped Takata Corp with a $14,000 per-day fine for failing to fully cooperate with a probe of its faulty air bags and revealed that a fraction of the 17 million cars recalled because of the problems have been repaired. "As you are well aware, NHTSA has repeatedly engaged Takata and asked for the company's...

  • Road salt: The winter's $2.3 billion game changer Wednesday, 18 Feb 2015 | 1:49 PM ET
    A garbage truck which slid off a road in Gorham, Maine.

    The economics surrounding a certain commodity can be a game changer for city officials in the snow belt. And it's sitting on your dinner table.

  • SAN FRANCISCO, Feb 15- Japanese carmaker Honda Motor Co Ltd plans to slow production at some of its plants in North America due to a parts shortage caused by a partial shutdown of ports along the West Coast. The company expects shortages at its operations in Ohio, Indiana and Ontario, Canada, starting Monday and for each plant to adjust its production between Feb. 16...

  • FRANKFURT, Feb 14- Technology giant Apple is learning how to make a self-driving electric car and is talking to experts at carmakers and automotive suppliers, an automotive source familiar with the talks said on Saturday. The Cupertino, California- based maker of phones, computers and watches is exploring how to make an entire vehicle, not just designing...

  • Feb 12- Honda Motor CEO Takanobu Ito, under fire for how he is dismantling the traditional way the Japanese car maker sources parts and technologies, has resisted moves for his ouster and will fight on for another two-year term, according to four people with direct knowledge of the matter. Ito took over in 2009, and for the past three years has shaken up Honda's...

  • Feb 9- Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to activist investor Carl Icahn's investment company Icahn Enterprises LP for about $340 million. Icahn Enterprises said in a regulatory filing that the business acquired from Uni-Select would be operated independently from its auto parts subsidiary...

  • Feb 9- Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to an affiliate of Icahn Enterprises LP for about $340 million. The deal includes nearly all the assets of Uni-Select USA Inc and Beck/Arnley Worldparts Inc and excludes Uni-Select's FinishMaster paint and coatings business. Uni-Select said it expected to incur an...

  • TOKYO, Feb 5- Japanese auto parts maker Takata Corp booked nearly $30 million in extra charges to cover vehicle recalls to replace potentially deadly air bag inflators, as well as other costs, pushing it to a bigger loss this year than previously forecast. Takata, at the center of a long-running global recall crisis, said on Thursday said it booked a total special...

  • Feb 3- Activist investor Mick McGuire said Tuesday Lear Corp's stock price could surge by nearly 50 percent if the auto supplier splits into two publicly traded companies, a proposal that Lear's management said it was considering. McGuire's $3- billion hedge fund Marcato Capital Management, which owns 4.6 percent of Lear's shares, proposed dividing the auto...

  • WASHINGTON, Feb 2- Japan's Minebea Co Ltd has agreed to plead guilty to fixing the prices of ball bearings and to pay a $13.5 million criminal fine, the U.S. Justice Department said on Monday. Minebea's plea brings to 34 the number of companies which have been charged with fixing prices of auto parts in the United States. Other auto parts companies that have settled...

  • Honda to expand air bag recall nationally Wednesday, 3 Dec 2014 | 10:53 AM ET
    Rick Schostek, executive vice president of Honda North America, testifies on Capitol Hill in Washington, Thursday, Nov. 20, 2014, before the Senate Commerce Committee hearing about defective airbags made by Takata of Japan and installed in Hondas.

    Honda Motor on Wednesday said it will expand a recall of automobiles with Takata driver's side air bags to include all 50 states.

  • Chrysler recalling nearly 189,000 SUVs Saturday, 20 Sep 2014 | 10:14 AM ET
    2014 Jeep Cherokees

    Chrysler is recalling almost 189,000 Jeep Grand Cherokees and Dodge Durangos in the U.S. to fix a fuel pump problem that can cause the SUVs to stall.

  • This is what China's antitrust drive is really about Friday, 15 Aug 2014 | 1:20 AM ET

    China's recent anti-monopoly law enforcement may be less about targeting foreign companies than combating another potential threat: income inequality.

  • Weak EM currencies a challenge: GM Tuesday, 5 Aug 2014 | 6:05 AM ET

    Emerging market currencies are likely to remain weak for the long term, and that's spurring a strategy shift, General Motors said.

  • Alcoa to buy jet engine component maker for $2.85B Thursday, 26 Jun 2014 | 10:31 AM ET
    Aluminum rods displaying the Alcoa logo

    Alcoa announced it plans to acquire jet engine component maker Firth Rixson from Oak Hill Capital Partners for $2.85 billion in cash and stock.

  • Ignition switches, parking fails: Recalled cars Friday, 16 May 2014 | 2:09 PM ET
    1980 Ford Thunderbird

    Since 1969, millions of cars have been recalled after being deemed threats. CNBC.com takes a look at these cars, from the 1971 Pinto to this year's growing list of recalls.

  • Corporate culture: Behind the scenes at GM Friday, 16 May 2014 | 12:39 PM ET
    Mary Barra testifying on Capitol Hill on April 2, 2014, about faulty GM ignition switches.

    To understand how General Motors failed to address major safety problems, you have to examine the culture there before Mary Barra became CEO.

  • Chevy dealerships: The face of the recall Friday, 16 May 2014 | 12:33 PM ET
    Brand new Chevrolet cars are displayed at a Chevrolet dealership in Colma, California.

    When a major recall is announced, dealerships find themselves on the commercial front lines.