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Automobiles and Components

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  • *To launch 10 new India- made vehicles over next 5 years. NEW DELHI, July 29- General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday. But by 2020 analysts expect India to become the world's third-largest passenger...

  • NEW DELHI, July 29- General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday. GM Chief Executive Officer Mary Barra said at a briefing in New Delhi that the investment in India was expected...

  • TOKYO, July 29- Japan's Panasonic Corp on Wednesday reported a 7 percent decline in first-quarter operating profit, missing analyst estimates, as sales fell in its appliances and housing technology businesses. While still known as a consumer electronics maker, Panasonic in recent years has turned its attention to new businesses such as high-tech auto parts...

  • BEIJING— General Motors Co.' s $5 billion initiative to create cars for China and other emerging markets comes just as automakers face a collapse in the booming Chinese demand they were counting on to power their growth. On Wednesday, Volkswagen AG said its second-quarter profit fell 16 percent due partly to weakness in China, where first-half sales fell 0.5...

  • TOKYO— Nissan's April-June profit jumped 36 percent as the Japanese automaker benefited from a cheap yen and better sales in the U.S. and Europe. Nissan stuck to its forecast for a 485 billion yen annual profit. "Given our on-going product offensive, the benefits of our alliance strategy and continued cost discipline, Nissan is on track to deliver its full-year...

  • LONDON, July 29- European shares climbed on Wednesday, with carmaker Peugeot among the best-performers, as some strong corporate results and further signs of bid activity lifted the region's stock markets. British property group Quintain Estates surged over 20 percent after a bid from private equity firm Lone Star, while shares in Italcementi also jumped...

  • More broadly, it faces headwinds from troubled economies in China, Russia and Brazil. China has been a key source of sales growth for German car makers but economic growth there has been slowing. VW sales in China fell by 0.5 percent in the first half of the year.

  • Ford to speed ahead after upbeat Q2 results: Pro

    Ford's stronger-than-expected earnings indicate strong momentum in the second-half of 2015 and even 2016, says Brian Sponheimer, auto & capital equipment analyst at Gabelli & Company.

  • NEW YORK, July 28- A judge in the state of Georgia has reduced a $150 million award to $40 million for the family of a young boy killed when the 1999 Jeep Grand Cherokee in which he was riding was rear-ended and burst into flames, according to orders released on Tuesday. Judge J. Kevin Chason in Decatur County said the family of Remington Walden should receive $30...

  • SAO PAULO, July 28- General Motors Co plans to double its investment in Brazil to 13 billion reais through 2018 and introduce a new family of vehicles into the country, executives at the U.S. carmaker said on Tuesday. Speaking at a press conference in Sao Paulo, Jaime Ardila, the head of GM in South America, said the company's investment in Brazil would be aimed at...

  • DETROIT, July 28- Ford Motor Co's chief executive, Mark Fields, said on Tuesday he wants the company to act "like a startup" as it prepares for an evolution of the auto industry, after it posted second-quarter profit that handily beat expectations. Fields and Ford Chief Financial Officer Bob Shanks said the second half of 2015 will generate more than the $4.3 billion...

  • UPDATE 2-Ally Financial says has overcome GM deal loss Tuesday, 28 Jul 2015 | 11:16 AM ET

    July 28- Ally Financial Inc, the largest U.S. auto lender, reported a better-than-expected quarterly profit and record U.S. auto sales boosted lending, making up for a loss of an exclusive leasing deal with General Motors Co. Shares of Ally were up 4.8 percent at $22.59 in morning trading on the New York Stock Exchange. The company has been trying to boost its market...

  • Ford earnings top expectations Tuesday, 28 Jul 2015 | 9:14 AM ET
    An employee walks past a Ford logo at a Ford factory in Dagenham, England.

    Ford Motor delivered quarterly earnings that topped analysts' expectations on Tuesday, helped by continued strength of its North American sales.

  • How foreigners have transformed Subaru's hometown Tuesday, 28 Jul 2015 | 9:09 AM ET

    It's not New York, but Ota, a town north of Tokyo with an economy powered by Japanese automaker Subaru. It's here that Subaru's parent company, Fuji Heavy Industries Ltd, got its start building engines and the Hayate fighter plane for the Imperial Army in the 1940 s. A recent influx of foreigners has transformed the Subaru hub, making it a rare example of...

  • The top executive at the maker of Subaru automobiles joked that he would have to wear a helmet on an upcoming trip to the United States. Subaru's U.S. sales have almost doubled in the past four years. Subaru's " Love Promise," in which it pledges to make "a positive impact in the world," has helped build loyal consumers in states like California, New York and Washington.

  • GM targets emerging markets with new lineup Tuesday, 28 Jul 2015 | 8:58 AM ET
    A Chrysler Ram 1500 truck goes through inspection at the Warren Truck Assembly Plant in Warren, Michigan.

    General Motors is investing $5 billion in a new family of vehicles targeting many of the world's fastest-growing emerging auto markets.

  • MUNICH/ TOKYO, July 28- Volkswagen overtook Toyota as the world's largest carmaker by sales in the first half year, achieving its long-held ambition three years ahead of target. But staying on top will be a challenge for the German maker of the Golf and Polo, as deliveries are falling in China, destination of a third of its global sales, making it overly reliant on...

  • General Motors decided to replace Ally with its current in-house financing arm, General Motors Financial Co Inc, for subsidized leases on Buick, GMC and Cadillac vehicles, beginning February. The company reported a net income of $182 million, a loss of $2.22 on a per share basis, compared with a year-ago profit of $323 million, or 54 cents per share.

  • Classic car collecting... bubble or new age? Tuesday, 28 Jul 2015 | 7:54 AM ET
    Classic car collecting... bubble or new age?

    CNBC's Robert Frank talks with Dave Magers, Mecum Auctions CEO about the upcoming Pebble Beach car auction and the best-performing collectible cars.

  • July 28- Sirius XM Holdings Inc raised its full-year forecast for revenue and subscriber additions for the second time in a row, citing strong U.S. auto sales. The company also raised its revenue forecast for 2015 to $4.5 billion from $4.47 billion earlier. The company's net income fell to $102.8 million in the second quarter ended June 30, from $120 million a year...