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Autos Automobiles and Components

  • The company reported a net profit attributable to Volkswagen AG shareholders of 5.1 billion euros last year compared with a net loss of almost 1.6 billion euros in 2015.. The Wolfsburg- based company paid a heavy price for its deceit, agreeing to pay more than $16 billion in buybacks and compensations to owners of VW cars in the U.S. alone. VW group sales rose 4...

  • *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,...

  • LONDON, Feb 24- British luxury carmaker Aston Martin reported a sharp rise in losses on Friday, failing to turn a profit for the sixth year running, but said the launch of the DB11, its first new model since restructuring, caused sales to surge at the end of 2016.. But the 104- year old firm, made famous by fictional secret agent James Bond's 1960 s DB5 sports car, said...

  • LONDON, Feb 24- The head of French carmaker PSA played down the threat to British factories when he discussed the potential takeover of GM's European operations with union officials and politicians in London on Friday. The British visit was the latest part of a charm offensive by Carlos Tavares, chief executive of Peugeot-maker PSA, after news broke last week...

  • Feb 24- U.S. auto sales in February will increase less than 1 percent from a year earlier, even as consumer discounts remain at record levels, industry consultants J.D. Power and LMC Automotive said on Friday. Incentives as a percentage of manufacturer's suggested retail price were at 10.3 percent in February, exceeding the 10 percent level for the first time in...

  • Feb 24- U.S. auto sales in February will increase less than 1 percent from a year earlier, even as consumer discounts remain at record levels, industry consultants J.D. Power and LMC Automotive said on Friday. February U.S. new vehicle sales will be about 1.35 million units, up 0.6 percent from a year earlier, the consultancies said. The seasonally adjusted...

  • LONDON, Feb 24- Britain's business minister Greg Clark said he discussed with the chief executive of Peugeot the firm's approach to expand production, rather than close plants, as the French carmaker explores taking over GM's Vauxhall and Opel brands in Europe. Clark met PSA's Carlos Tavares in London on Friday as concerns mounted about the future of jobs and...

  • LONDON, Feb 24- The head of French carmaker PSA played down the threat to British plants as he discussed his potential takeover of GM's European operations during a visit to London on Friday. Carlos Tavares, chief executive of Peugeot-maker PSA, has been on a charm offensive to reassure politicians and unions that any deal to buy the Opel business would not lead to...

  • 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...

  • FRANKFURT, Feb 24- Opel's European works council said it had agreed to open a line of communication with its counterpart at PSA Group as the French carmaker holds talks over a tie-up with the company. PSA, the Paris- based maker of Peugeot and Citroen cars, and General Motors confirmed on Feb. 14 they were in talks over a PSA-Opel tie-up to create Europe's...

  • FRANKFURT, Feb 24- Opel's European works council said it had agreed to open a line of communication with its counterpart at PSA Group as the French carmaker holds talks over a tie-up with the company. PSA, the Paris- based maker of Peugeot and Citroen cars, and General Motors confirmed on Feb. 14 they were in talks over a PSA-Opel tie-up to create Europe's...

  • STUTTGART, Feb 24- Daimler's Mercedes-Benz Vans division is looking closely at a growing demand in the United States for mid-sized pick-up trucks to see whether there is market potential to launch its X-Class model there, divisional head Volker Mornhinweg said on Friday. Mercedes-Benz Vans has already developed a mid-sized pick-up truck to be sold in South...

  • 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...

  • VILLAVERDE, Spain, Feb 23- As the only European country where carmaker PSA's production overlaps with that of Opel, Spain could deliver the quick cost savings sought by PSA boss Carlos Tavares to convince investors to back his planned acquisition of the rival brand. Between them, PSA- maker of Peugeots and Citroens- and General Motors' Opel operate three Spanish...

  • SAN FRANCISCO— A self-driving car company founded by Google is colliding with ride-haling service Uber in a court battle revolving around allegations of betrayal, high-tech espionage and greed. The brewing showdown emerged late Thursday in a lawsuit filed in a San Francisco federal court by Waymo, a once-secretive self-driving company hatched by Google...

  • DETROIT, Feb 23- U.S. auto sales will show a 1 percent decline in February from a year earlier, industry consultant and car shopping website Edmunds said on Thursday. That sales rate is close to the 2016 full-year sales of 17.55 million vehicles, as reported by Autodata Corp.. GM's stronger sales are because of more generous incentives, said Jessica Caldwell,...

  • DETROIT, Feb 23- U.S. auto sales will show a 1 percent decline in February from a year earlier, industry consultant and car shopping website Edmunds said on Thursday. Edmunds estimated that February U.S. sales would be 1.33 million vehicles, for a seasonally adjusted annualized rate of 17.6 million. Automakers in the U.S. market report February sales on March 1.

  • FEBRUARY AUTO SALES AT SEASONALLY ADJUSTED ANNUALIZED RATE OF 17.6 MLN VEHICLES.

  • FEBRUARY AUTO SALES DOWN 1 PCT VS YEAR EARLIER AT 1.33 MLN VEHICLES.

  • VILLAVERDE, Spain, Feb 23- As the only European country where carmaker PSA's production overlaps with that of Opel, Spain could deliver the quick cost savings sought by PSA boss Carlos Tavares to convince investors to back his planned acquisition of the rival brand. Between them, PSA- maker of Peugeots and Citroens- and General Motors' Opel operate three Spanish...