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Autos Automobiles and Components

  • FRANKFURT/ HAMBURG, July 25- Daimler's supervisory board will meet on Wednesday to discuss allegations that German carmakers were involved in anti-competitive behaviour, sources familiar with the matter said on Tuesday. European Union and German antitrust regulators are investigating whether BMW, VW, Porsche, Audi and Mercedes-Benz owner Daimler held...

  • July 25- The U.S. Transportation Department said on Tuesday it may revise the 2021 model year fuel efficiency requirements as it reviews the Obama administration vehicle emissions rules a year earlier than previously disclosed. In March, President Donald Trump ordered a review of U.S. vehicle fuel-efficiency standards from model year 2022 through 2025.

  • DETROIT, July 25- General Motors Co on Tuesday reported a better-than-expected quarterly net profit from continuing operations despite falling revenue and promised to cut production in the second half to curtail its burgeoning inventory of unsold vehicles. The results for the quarter excluded losses from the company's European operations, consisting of...

  • DETROIT, July 25- General Motors Co on Tuesday reported a better-than-expected quarterly net profit from continuing operations despite falling revenue and the No. 1 U.S. automaker maintained its earnings outlook 2017.. GM said it still expected to earn between $6 and $6.50 per share in 2017.. GM reported second-quarter net income of $2.4 billion or $1.60 per...

  • GM WILL CUT Q3 AND Q4 NORTH AMERICAN PRODUCTION BY 150,000 VEHICLES TOTAL COMPARED TO FIRST HALF- CFO.

  • DETROIT— General Motors' second-quarter net profit fell more than 40 percent as the carmaker lost money on the pending sale of its European unit and warned it still faces billions of dollars in further losses to come. Revenue was $37 billion excluding Europe, falling short of analyst estimates of $40.3 billion. GM's bottom line includes a $770 million loss as it...

  • DETROIT, July 25- General Motors Co on Tuesday reported a lower quarterly net profit from continuing operations due to lower vehicle sales and restructuring charges, but results beat Wall Street expectations. The No. 1 U.S. automaker reported second-quarter net income of $2.4 billion or $1.60 per share, down from $2.8 billion or $1.74 per share a year earlier.

  • Toyota aims to challenge electric car rivals with a new battery that significantly increases driving range and reduces recharging time.

  • *Keeps net profit f'cast at 68 bln yen for year to March 2018. TOKYO, July 25- Mitsubishi Motors Corp on Tuesday posted a four-fold jump in its operating profit for the first quarter, as the Japanese automaker clawed back from a slump in domestic sales a year ago when it admitted to a mileage-cheating scandal. Operating profit at Japan's No.7 automaker came in at 20.6...

  • FRANKFURT/ HAMBURG, July 25- Daimler's supervisory board will meet on Wednesday and seek answers about whether German carmakers were part of a club that was allegedly involved in anti-competitive behaviour, sources familiar with the matter said on Tuesday. European Union and German antitrust regulators are investigating whether BMW, VW, Porsche, Audi and...

  • SYDNEY— A Sydney lawyer announced on Tuesday a class action lawsuit against Toyota, Honda and Mazda seeking refunds for cars fitted with faulty air bags from Takata that have been linked to 18 deaths around the world. Lawyer Damian Scattini said the Federal Court action seeks refunds based on an Australian consumer law that entitles consumers to refunds if a...

  • TOKYO, July 25- Mitsubishi Motors Corp on Tuesday posted a four-fold jump in its operating profit for the first quarter, as the Japanese automaker clawed back from a slump in domestic sales a year ago when it admitted to a mileage-cheating scandal. Operating profit at Japan's No.7 automaker came in at 20.6 billion yen for the April-June quarter, higher than an...

  • No 'major global legal threat' from VW emissions scandal: Analyst

    There will be no "major global legal threat" arising from allegations of collusion between German car manufacturers, Arndt Ellinghorst, head of the global automotive research at Evercore ISI, told CNBC.

  • CANTON, Miss.— A bid by workers at Mississippi's Nissan Motor Co. plant for United Auto Workers representation could turn on a key voting bloc— 1,500 workers who are Nissan employees today, but were initially hired through contract labor agencies. Those workers say they make less than longtime Nissan employees and have worse benefits, and UAW supporters say...

  • *Toyota aims to sell new EV as early as 2022 in Japan- Chunichi. TOKYO, July 25- Toyota Motor Corp is working on an electric car powered by a new type of battery that significantly increases driving range and reduces charging time, aiming to begin sales in 2022, the Chunichi Shimbun daily reported on Tuesday. Toyota has decided to sell the new model in Japan as early as...

  • TOKYO, July 25- Toyota Motor Corp aims to begin selling in 2022 an electric car powered by a new type of battery that significantly increases driving range and reduces recharging time, the Chunichi Shimbun daily reported on Tuesday. By using all-solid-state batteries, which can store more energy and can recharge more quickly than lithium ion batteries, Japan's...

  • BERLIN, July 24- Owners of Volkswagen cars affected by the diesel emissions scandal who refuse to get an engine software update will have their vehicles de-registered, Focus Online reported, citing documents of Germany's KBA motor vehicle watchdog. Nearly two years later, almost 5.5 million of the 8.5 million affected models in Europe have been retrofitted,...

  • MONTREAL, July 24- Canada's used vehicle prices have dropped for the first time in about seven years, June industry data showed, as demand for second-hand autos weakened due to a stronger Canadian dollar and a supply glut in its biggest export market-- the United States. Unlike the United States, where demand for new vehicles has slowed in recent months, automakers...

  • BERLIN/ FRANKFURT, July 24- Volkswagen will hold a special supervisory board meeting on Wednesday to discuss allegations that German carmakers operated a wide-ranging cartel, a source familiar with the matter said on Monday. The European Commission said on Saturday that antitrust regulators were investigating a possible German auto industry cartel...

  • *STOXX 600 ends down 0.2 pct. *Julius Baer jumps on biggest inflows since fin crisis. LONDON, July 24- European shares dipped on Monday with automakers hitting their lowest level this year after anti-trust regulators opened an investigation, while price war worries hurt airlines.