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Autos Automobiles and Components

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  • BERLIN, Aug 14- Volkswagen is recalling about 420,000 cars in the United States to fix a fault that could prevent air bags from deploying. The world's biggest carmaker said on Friday that the recall affected VW Golf, Passat, Jetta and Tiguan models assembled between 2010 and 2014.. The recall comes as the German group struggles to overcome underperformance in the...

  • UPDATE 1-Tesla raises share offering to $642.5 mln Friday, 14 Aug 2015 | 7:01 AM ET

    Aug 14- Electric car maker Tesla Motors Inc said it was looking to raise about $642.5 million through a share sale, above the $500 million it announced on Thursday. The company said on Friday it would offer about 2.7 million shares at $242 per share, a slight discount to Thursday's close of $242.51. Chief Executive Elon Musk will maintain his investment of $20...

  • Tesla raises share offering to $642.5 mln Friday, 14 Aug 2015 | 6:28 AM ET

    Aug 14- Electric car maker Tesla Motors Inc said it was looking to raise about $642.5 million through a share sale, above the $500 million it announced on Thursday. The company said on Friday it would offer about 2.7 million shares at $242 per share. Chief Executive Elon Musk will maintain his investment of $20 million in the offering, Tesla said.

  • Grounded: Rich kid burns Ferrari for upgrade? Thursday, 13 Aug 2015 | 6:36 PM ET
    A rich kid in Augsbourg, Switzerland burns his own Ferrari in the hopes of getting an upgrade.

    A case in Switzerland reveals how a teenager ended up burning his luxury sports car.

  • DETROIT, Aug 13- General Motors Co is boosting production of its highly profitable large SUVs and trucks to a pace that could result in 48,000 to 60,000 additional vehicles for the 2016 model year, in a bid to capitalize on rising demand, sources told Reuters. GM's Arlington, Texas, plant that makes full-sized sport utility vehicles including the Cadillac...

  • European shares rally after China calms markets Thursday, 13 Aug 2015 | 12:50 PM ET

    *Aegon, RWE fall on results disappointment. LONDON, Aug 13- European shares bounced on Thursday after a 4 percent fall this week, tracking global equities higher on efforts by China's central bank to steady a falling yuan that has stirred markets worldwide. Automakers and luxury goods stocks, among the worst hit this week, were among the biggest gainers after...

  • Aug 13- Tesla Motors Inc CEO Elon Musk will invest $20 million as part of the company's $500 million stock offering in a show of confidence at a time when the electric car maker is burning through cash. Tesla said on Thursday it would use the proceeds from the sale to help fund its upcoming Model 3 project and its battery gigafactory in Nevada. Tesla, which has been...

  • Tesla charging up Manhattan Thursday, 13 Aug 2015 | 10:00 AM ET
    Tesla charging up Manhattan

    Tesla to roll out car chargers in Manhattan parking garages.

  • Aug 13- Electric-car maker Tesla Motors Inc said it planned to raise about $500 million through the sale of 2.1 million shares. Chief Executive Elon Musk will buy nearly 84,000 shares for about $20 million in the offering, the company said on Thursday. Tesla's shares were up 2.2 percent at $243.50 in premarket trading.

  • Cuba's antique cars Thursday, 13 Aug 2015 | 7:26 AM ET
    Cuba's antique cars

    Thousands of antique American cars make up a large portion of the transportation in Cuba. CNBC's Michelle Caruso-Cabrera reports on the interest and value in the vintage cars there.

  • Tesla seeks to raise about $500 mln through share sale Thursday, 13 Aug 2015 | 7:14 AM ET

    Aug 13- Electric-car maker Tesla Motors Inc said it plans to raise about $500 million through the sale of 2.1 million shares.

  • China this week devalued its currency against the U.S. dollar, after more data showed its economic growth is slowing. Investors globally reacted harshly, dumping shares of companies with significant amounts of revenue derived from China, particularly automakers and luxury goods makers. "Longer term, we're still very bullish on China," Hau Thai- tang, head of...

  • China this week devalued its currency against the U.S. dollar, after more data showed its economic growth is slowing. Investors globally reacted harshly, dumping shares of companies with significant amounts of revenue derived from China, particularly automakers and luxury goods makers. "Longer term, we're still very bullish on China," Hau Thai- tang, head of...

  • Near-record sales drive auto loans to sky-high level Wednesday, 12 Aug 2015 | 1:38 PM ET
    Buying a car

    Near record high auto sales, rising prices and low interest rates have combined to help Americans take out almost a trillion dollars in auto loans.

  • *Alibaba falls to all-time low after revenue growth slows. A cheaper yuan reduces the competitiveness of companies outside of China as it makes their goods and services more expensive, while reducing the value of revenue they generate in the country. Shares of U.S. automakers with a big exposure to China fell.

  • US STOCKS-Futures slump as China devalues yuan further Wednesday, 12 Aug 2015 | 7:35 AM ET

    Aug 12- U.S. stock index futures fell sharply for a second day in a row on Wednesday as China pushed the yuan lower again, exacerbating fears about a global economic slowdown. The 19- commodity Thomson Reuters/ Core Commodity CRB index were at lows not seen since 2003.. *Automakers with a big exposure to China also fell again.

  • *Ford launches new compact car Figo Aspire in India. NEW DELHI, Aug 12- Ford Motor Co plans to use low-cost engineering it learned in India to develop compact models for other emerging markets, executives said, emulating a strategy used by Asian rivals that outsell it in the world's fifth-largest auto market. The U.S. automaker has struggled to compete in India, a...

  • *Goldman Sachs downgrade hits Delta Lloyd shares. LONDON, Aug 12- European shares extended this week's sell-off on Wednesday after China pushed the yuan even lower, hitting exporters such as carmakers and luxury goods companies. The yuan hit a four-year low after China pushed the currency down overnight following Tuesday's devaluation.

  • We are looking for premium brand acquisitions: Lookers CEO

    Andy Bruce, chief executive of Lookers, talks about the U.K. auto sales industry and his company's first-half earnings.

  • Aug 11- General Motors Co luxury brand Cadillac aims to increase its annual sales to half a million vehicles worldwide by 2020 from an expected 275,000 this year, Cadillac's top executive said on Tuesday. In a presentation to investors at a J.P. Morgan industry conference in New York, de Nysschen said the brand needs to improve the quality of its dealer network in...