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Autos Automobiles and Components

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  • TORONTO, July 29- A Canadian law firm said it filed a lawsuit against Fiat Chrysler Automobiles on Wednesday seeking $4 billion in damages, in connection with the massive recall announced by the automaker earlier in July. Merchant Law Group said the lawsuit, which seeks class action status, was filed in the Superior Court in Montreal. It said it plans to file claims...

  • TORONTO, July 29- A Canadian law firm said it filed a lawsuit against Fiat Chrysler Automobiles on Wednesday seeking about $4 billion in damages, in connection with the massive recall announced by the automaker earlier in July. Merchant Law Group said the lawsuit, which seeks class action status, was filed in the Superior Court in Montreal. It said it plans to file...

  • DETROIT— Electric car maker Telsa Motors Inc. is offering its first incentive, $1,000 to new-car buyers who are referred by current Tesla owners. Owners who make a referral also will get $1,000 in their Tesla account that can be spent on a car purchase, service or accessories. CEO Elon Musk said the $2,000 is about equal to what it costs to sell a car through a company...

  • DETROIT, July 29- Tesla Motors Inc will offer a $1,000 bounty to Model S owners and buyers who take advantage of word-of-mouth referrals of the electric cars, Chief Executive Elon Musk said Wednesday. The referral bounty will be available to those who buy new Tesla sedans- and those who refer them- through October 31. Under the program, buyers will get $1,000 off the...

  • DETROIT, July 29- Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company's plans. While the Italian-American automaker said it will bring three new sports models from Italy to the United States in the...

  • PARIS— French and German executives from two of Europe's leading armored vehicle makers signed a long-awaited merger deal Wednesday aimed at creating a new European champion in the $50 billion annual terrestrial defense market. The tie-up between France's state-owned Nexter Systems and privately held German firm KMW was inked in Paris at the Defense...

  • BELMONT, Calif., July 29- Volkswagen AG, the world's No. 1 automaker, will offer automatic braking and other crash avoidance systems as standard or optional features on most 2016 models sold in the United States beginning later this year, the company said on Wednesday. VW overtook Toyota Motor Corp as the world's largest carmaker by sales in the first half year,...

  • DETROIT— When a car dealer offers to loan you the money to buy a car at zero interest, it gets your attention. Experian Automotive, which tracks auto loans, says 7 percent of new car loans had an interest rate of 1 percent or lower in the first quarter of this year. Edmunds recommends taking the cash to reduce your total loan amount for the base all-wheel-drive model...

  • VW expects China sales growth to grind to halt. BERLIN, July 29- Volkswagen lowered its global sales forecast on Wednesday and said it was braced for stagnant volumes in China, after years of double-digit growth in its biggest market. The German carmaker, which overtook Toyota as the world's largest carmaker by sales in the first half of this year, has long seen...

  • America aging car fleet at record high

    CNBC's Phil LeBeau takes a look at fresh data which shows Americans are holding onto their cars longer.

  • Man driving old car

    Nearly one out of every four vehicles in the U.S. was built before the year 2000, according to new data from IHS Automotive.

  • DETROIT— In the age of Apple's CarPlay, a lot of cars on the road still have tape decks. The average vehicle in the U.S. is now a record 11.5 years old, according to consulting firm IHS Automotive, a sign of the increased reliability of today's vehicles and the lingering impact of the sharp drop in new car sales during the recession. Cars and trucks now have the same...

  • PARIS, July 29- PSA Peugeot Citroen's talks on a manufacturing venture with Iran's biggest carmaker are being undermined by anti-French sentiment in the country, Chief Executive Carlos Tavares said on Wednesday. Peugeot has "developed proposals" with historic partner Iran Khodro, Tavares said, but progress is being hindered by a backlash over France's tough...

  • *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...

  • GM to invest $1 bln in India, double market share by 2020 Wednesday, 29 Jul 2015 | 5:05 AM ET

    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...

  • China auto sales slump hits industry fortunes Wednesday, 29 Jul 2015 | 4:09 AM ET

    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...

  • Peugeot motors higher as European stock markets advance Wednesday, 29 Jul 2015 | 3:20 AM ET

    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.