Autos Automobiles and Components

More

  • Excluding items, BorgWarner's earnings per share in the quarter of $0.75 beat Wall Street expectations of $0.72, according to Thomson Reuters I/B/E/S. Net income attributable to BorgWarner fell to $125.3 million, or 56 cents a share, in the quarter ended Dec. 31, from $139.9 million, or 61 cents a share, a year earlier. The company bought Remy International Inc, a...

  • AUBURN HILLS, Mich. _ BorgWarner Inc. on Thursday reported fourth-quarter net income of $125.3 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share. For the current quarter ending in April, BorgWarner expects its per-share earnings to range from 72 cents to 76 cents.

  • Feb 11- Auto parts maker BorgWarner Inc's quarterly revenue rose 6.6 percent, helped by strength in its business that makes fuel-saving turbochargers and emissions systems. The net income attributable to BorgWarner fell to $125.3 million, or 56 cents per share, in the fourth quarter ended Dec. 31 from $139.9 million, or 61 cents per share, a year earlier.

  • ISTANBUL, Feb 11- Toyota Motor Corp will begin production in Turkey this year of a new hybrid engine car model with an investment of more than 350 million euros, the Japanese automaker said on Thursday. "This is the first time somebody will make a hybrid vehicle in Turkey," he said. The investment will increase to 1.7 billion euros the company's total investment in...

  • Feb 11- Tesla Motors Inc's shares rose as much as 8 percent in premarket trading on Thursday after the electric luxury car maker forecast a big jump in vehicle sales this year, a target some Wall Street analysts found ambitious. The company's shares rose to $155 despite a bigger fourth-quarter loss, as Chief Executive Elon Musk promised investors on Wednesday...

  • ROANOKE, Va.— Advance Auto Parts Inc. on Thursday reported fourth-quarter profit of $54.8 million. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share. Advance Auto Parts shares have fallen almost 8 percent since the beginning of the year.

  • *Silicon Valley carmaker plans 60-80 pct vehicle sales growth. Feb 10- Tesla Motors Inc Chief Executive Elon Musk on Wednesday promised investors that the electric luxury car maker would stop burning cash and start making money this year, sending the company's shares up sharply despite a wider fourth-quarter loss. Musk said Tesla would generate positive cash...

  • Tesla reported a wider fourth-quarter net loss of $2.44 a share, compared with a loss of 86 cents a share a year earlier. "You cannot bet against Elon Musk," said analyst Ivan Feinseth of Tigress Partners. Musk said Tesla would generate positive cash flow even after investing $1.5 billion to add capacity to a huge battery factory in Nevada, and start producing...

  • Tesla's 4Q net loss doubles Wednesday, 10 Feb 2016 | 4:57 PM ET

    DETROIT— Electric car maker Tesla Motors says its net loss more than doubled to $320 million in the fourth quarter, hurt by lower-than-planned production of its new Model X SUV. The loss, equal to $2.44 per share, compared to a loss of 86 cents per share in the same quarter a year ago. For the full year, Tesla lost $889 million, wider than a $294 million loss in 2014. Palo...

  • UPDATE 1-Tesla says expects to become profitable in 2016 Wednesday, 10 Feb 2016 | 4:51 PM ET

    The electric car maker has long enjoyed the status of Silicon Valley darling for its brash innovation in electric cars. Elon Musk- led Tesla said its long-promised moderately priced car, the Model 3, would be unveiled on March 31. Tesla's net loss, however, nearly tripled to $320.4 million, or $2.44 per share, in the fourth quarter ended Dec. 31 from $107.6 million, or...

  • Tesla's posts 11th straight quarterly loss Wednesday, 10 Feb 2016 | 4:22 PM ET

    Feb 10- Tesla Motors Inc reported a quarterly loss for the eleventh straight quarter as higher sales of its Model S sedans failed to offset rising costs. The Silicon Valley electric car maker, controlled by Elon Musk, said net loss nearly tripled to $320.4 million, or $2.44 per share, in the fourth quarter ended Dec. 31 from $107.6 million, or 86 cents per share, a year...

  • DETROIT, Feb 10- Nearly one in five vehicles on U.S. roads is in need of repair of a safety issue serious enough to be involved in a federal government recall, according to used-car history provider Carfax. The highest rates of unfixed vehicles were, in order, Texas, Mississippi, Alaska, Utah and West Virginia, Carfax said. The U.S. National Highway Traffic Safety...

  • WASHINGTON/ DETROIT, Feb 10- Alphabet Inc's Google unit told U.S. auto safety regulators that the government's interpretation of motor vehicle safety rules is "extremely important" to its further development of fully self-driving cars. In a Nov. 12 letter to the U.S. National Highway Traffic Safety Administration reviewed by Reuters on Wednesday, the director...

  • *Daimler takes charge of 340 million euros. FRANKFURT/ WASHINGTON, Feb 10- The three largest German automakers said they will recall 2.5 million vehicles in the United States equipped with Takata Corp air bags, the latest moves in a long-running safety crisis involving the Japanese automotive supplier. The vehicles to be recalled have Takata-made air bag...

  • DETROIT, Feb 10- BMW said on Wednesday it will recall about 840,000 vehicles in the United States equipped with potentially defective Takata Corp air bags. The recall covers BMW cars and SUVs from model years 2006 to 2015. The models have not been included in previous Takata-related recalls, BMW said.

  • DETROIT— Subaru is recalling 82,661 Tribeca SUVs because their hoods can open unexpectedly while driving. Subaru says rust or grease buildup can cause the springs in the hood to seize up and stop working. First, Subaru dealers will inspect, clean and lubricate the hood system.

  • VW, Audi, BMW recall nearly 1.7M vehicles in air bag mess Wednesday, 10 Feb 2016 | 10:48 AM ET

    DETROIT— Volkswagen, Audi and BMW are recalling nearly 1.7 million vehicles with Takata air bag inflators that can rupture and hurl shrapnel into drivers and passengers. So far, VW, Audi, BMW, Daimler, Honda, Ford and Mazda have announced recalls in the latest round. On Wednesday, VW and Audi said they would recall a total of 850,000 vehicles in the U.S. from model years...

  • DETROIT— Computers that control cars of the future can be considered drivers just like humans, the federal government's highway safety agency has decided. The redefinition of "driver" by the National Highway Traffic Safety Administration is an important break for Google, which is developing self-driving cars that get around without steering wheels, pedals—...

  • *Recall to result in Daimler charge of 340 mln euros. *Charge lowers Daimler 2015 profit to 8.7 bln euros from 8.9 bln. WASHINGTON/ FRANKFURT, Feb 10- German carmakers Volkswagen and Daimler are recalling 1.5 million vehicles in the United States due to potentially faulty airbags made by Japanese company Takata Corp, the focus of a long-running global safety...

  • UPDATE 1-Audi, BMW sell fewer luxury cars than Mercedes Wednesday, 10 Feb 2016 | 7:33 AM ET

    *Mercedes catching up fast in China. BERLIN, Feb 10- Germany's Audi and BMW sold fewer vehicles in January than luxury rival Mercedes-Benz, which has benefited from a continued surge in Chinese demand for its compact cars and sport-utility vehicles. Munich- based BMW posted a 7.5 percent increase to 133,883 cars at its core brand and predicted the "positive trend"...