Autos Automobiles and Components

More

  • The net income attributable to common shareholders rose to $171.3 million, or 3 cents per share, in the first quarter ended March 31 from $105.7 million, or 2 cents per share, a year earlier. Revenue increased to $1.2 billion from $1.08 billion. Analysts on average had expected a profit of 3 cents per share on revenue of $1.18 billion, according to Thomson Reuters...

  • WOLFSBURG, Germany, April 28- Volkswagen's emissions test cheating scandal could cost it much more than the $18 billion earmarked so far and it might have to sell assets to foot the bill, the German carmaker said on Thursday. Europe's biggest motor manufacturer, battling to rebuild its reputation after admitting to cheating U.S diesel emissions tests in...

  • Pretax profits more than doubled in North America and Asia. Europe recorded its best quarter since 2008.. Demand for SUVs, trucks and commercial vans was insatiable in North America, China and Europe, offsetting a 29- percent decline in sales in Brazil and weaker sales in the Middle East and Africa.

  • OSHKOSH, Wis. _ Oshkosh Corp. on Thursday reported fiscal second-quarter profit of $56.1 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share. Oshkosh expects full-year earnings to be $2.30 to $2.70 per share.

  • TOKYO, April 28- Automaker Mitsubishi Motors Corp says it used non-compliant fuel economy testing methods in Japan for as long as a quarter of a century. It rigged test data to overstate fuel economy readings of four mini-vehicle models sold in Japan by up to 10 percent. All were sold in Japan.

  • Arndt Ellinghorst, head of global automotive research at Evercore ISI, discusses the future of Volkswagen.

  • TOKYO/ WASHINGTON, April 28- Mitsubishi Motors Corp said its vehicles sold in the United States from. its fuel economy cheating scandal in Japan may have a wider global impact. But even so they have lost nearly half their market value or about $3.7 billion on fears of hefty compensation costs and fines.

  • TOKYO, April 28- Japan will begin tests to measure the fuel economy of vehicles made by Mitsubishi Motors Corp next week and announce results on the first four models in June, Transport Minister Keiichi Ishii said on Thursday. Mitsubishi Motors last week admitted to manipulating mileage test data for those four models- small vehicles sold in Japan including two...

  • WASHINGTON, April 27- Mitsubishi Motors Corp, which has admitted manipulating fuel economy tests for mini-vehicles in Japan, on Wednesday said its vehicles for the model years 2013 to 2017 sold in the United States have correct mileage ratings. "Our findings confirm that fuel economy testing data for these U.S. market vehicles is accurate and complies with...

  • National Labor Relations Board on Tuesday filed an unfair labor practices complaint against Volkswagen AG for not bargaining with a portion of plant workers at its Tennessee plant represented by the United Auto Workers union. The plant in Chattanooga has about 1,500 hourly workers. Volkswagen was at one time welcoming to the UAW at Chattanooga.

  • WASHINGTON, April 27- Hitachi Chemical Co Ltd has agreed to plead guilty to conspiring to fix the prices of electrolytic capacitors used in a broad range of electronic products and automobiles, the Justice Department said on Wednesday. Hitachi Chemical will plead guilty to one felony count of fixing prices of the devices between 2002 and 2010, the department...

  • After earnings were issued Wednesday morning, Group 1 shares gained as much as 10 percent, and by the afternoon were trading at $66.12, up 6.6 percent. Group 1 Chief Executive Earl Hesterberg, in an interview with Reuters, said major automakers must cut production in order for dealers to keep healthy profit margins. Mike Jackson, CEO of AutoNation Inc, the largest...

  • FRANKFURT, April 27- Car parts maker Bosch set aside 650 million euros in 2015 for potential legal costs, including for an ongoing investigation into the company's role in Volkswagen's diesel emissions manipulation scandal. Volkswagen has admitted cheating exhaust emissions tests in the United States and last week VW set aside 16.2 billion euros to cover...

  • SPRING HILL, Tenn.— General Motors announced Wednesday that it is spending $790 million to build a new high-efficiency engine at its plant in Tennessee, creating nearly 800 jobs. United Auto Workers have credited collective bargaining agreements with the company for ensuring production returned to Tennessee. The most recent contract signed last year said...

  • DETROIT— Ford is recalling nearly 202,000 pickup trucks, SUVs and cars in North America because the automatic transmissions can suddenly downshift to first gear. The company also said Wednesday that it's recalling more than 81,000 Explorer SUVs to fix a rear suspension problem. The Explorer recall covers SUVs and Police Interceptor models in the U.S., Canada...

  • TOKYO, April 27- Mitsubishi Motors Corp said Japanese orders for its cars have halved since it revealed last week it cheated on fuel economy tests, intensifying concerns over its prospects given an already checkered history of scandals. The automaker said it may approach its financial backers, which include other Mitsubishi Group companies, for assistance if...

  • *Luxury EVs priced above 60,000 euros won't benefit. BERLIN, April 27- Germany is set to launch a new incentive scheme worth about 1 billion euros to get more consumers buying electric cars as it struggles to meet a target of bringing 1 million of them onto its roads by the end of the decade. Currently Germany, the biggest car market in Europe, has only about 50,000...

  • *Luxury EVs priced above 60,000 euros won't benefit. BERLIN, April 27- Germany will offer incentives for buyers of electric cars worth about 1 billion euros to stoke consumer interest in battery cars as it struggles to meet a target of bringing 1 million of them on to its roads by the end of the decade. "With this, I believe we will be able to give a boost to quickly move...

  • BERLIN— Germany's auto industry risks being overtaken by foreign competitors unless it receives greater domestic support, the country's economy minister said Wednesday, announcing a 1 billion euro plan to subsidize electric cars that are seen as the technology of the future. Electric vehicles have had a sluggish start in Germany, the country where the...

  • BEIJING, April 27- Guangzhou Automobile Group Co Ltd, whose partnership with Fiat Chrysler Automobiles NV enables the Milan- listed automaker to manufacture in China, wants Fiat Chrysler to return the favour by helping it enter the United States, a top executive told Reuters. China exported 728,200 mostly home-brand vehicles last year, an on-year decline of...