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  • America aging car fleet at record high Wednesday, 29 Jul 2015 | 7:31 AM ET
    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.

  • Americans holding onto their cars longer than ever Wednesday, 29 Jul 2015 | 7:01 AM ET
    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.

  • Average US vehicle age hits record 11.5 years Wednesday, 29 Jul 2015 | 7:00 AM ET

    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...

  • Peugeot says anti-French backlash weighs on Iran talks Wednesday, 29 Jul 2015 | 5:49 AM ET

    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.

  • Ford to speed ahead after upbeat Q2 results: Pro Tuesday, 28 Jul 2015 | 7:34 PM ET
    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...

  • GM to double Brazil investment through 2018 Tuesday, 28 Jul 2015 | 1:01 PM ET

    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.