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  • MOSCOW, Feb 12- Russia's biggest carmaker Avtovaz issued a plea for help to shareholders including Renault on Friday, after plunging demand at home drove it to a record loss and an audit revealed its frail finances. French carmaker Renault separately slashed the value of its stake in Avtovaz by 225 million euros to 96 million. Russia's car industry has been...

  • The company's net income rose to $62.9 million, or 81 cents per share, in the fourth quarter ended Dec. 31, from $13.2 million, or 17 cents per share, a year earlier. American Axle, which gets about three-quarters of its revenue from General Motors Co, said non-GM sales rose to $323.5 million from $317.2 million. Total net sales rose to $958.4 million from $939.5 million.

  • NEW DELHI, Feb 12- Sales of passenger cars and utility vehicles in India are expected to grow by as much as 12 percent in the fiscal year starting April 1, the country's automotive body said on Friday, higher than the 8 percent growth estimated for the current year. Prime Minister Narendra Modi is under pressure to increase welfare spending in India's upcoming...

  • PARIS— French car maker Renault says higher sales and further progress on its industrial turnaround plan helped drive a nearly 1 billion euro increase in its earnings last year. Europe's number three car maker says Friday it made 2.8 billion euros in 2015, up from 1.9 billion a year earlier. It forecast 2 percent market growth in Europe this year, and between 1 and...

  • TORONTO, Feb 11- Fiat Chrysler Automobiles said on Thursday that it has invested C $3.7 billion since September 2014 and created 1,200 jobs in Canada to develop and produce its next-generation minivan. The Pacifica program brings Fiat Chrysler employment in Canada to just over 11,000, he said. Autoworkers and Canadian divisions of Detroit's automakers met...

  • DETROIT, Feb 11- Group 1 Automotive Inc Chief Executive Officer Earl Hesterberg said on Thursday the auto dealer group will cut orders for new vehicles as it looks to trim excess inventory. The excess inventory was most acute for luxury cars from BMW and Daimler AG's Mercedes-Benz in the oil patch of Texas and Oklahoma, Hesterberg told Reuters in an interview...

  • DETROIT, Feb 11- Group 1 Automotive Inc Chief Executive Officer Earl Hesterberg said on Thursday the auto dealer group will cut orders for new vehicles as it looks to trim excess inventory. The excess inventory was most acute for luxury cars from BMW and Daimler AG's Mercedes-Benz in the oil patch of Texas and Oklahoma, Hesterberg told Reuters in an interview...

  • Tesla's shares rose as much as 14 percent to $163.26 on Thursday morning, a day after Chief Executive Elon Musk promised that the company would start making money this year. While the company surprised investors with the strength of its vehicle sales forecast, some Wall Street analysts said the target was ambitious and that Tesla's cash burn rate remained a...

  • 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...

  • BorgWarner beats Street 4Q forecasts Thursday, 11 Feb 2016 | 8:27 AM ET

    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.

  • Auto parts maker BorgWarner's revenue rises 6.6 pct Thursday, 11 Feb 2016 | 8:08 AM ET

    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...

  • Advance Auto Parts beats 4Q profit forecasts Thursday, 11 Feb 2016 | 6:37 AM ET

    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...