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Auto Parts and Equipment

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  • Hyundai's union boss walks negotiating tightrope Monday, 18 May 2015 | 8:15 PM ET

    Hyundai's union boss faces dissent from within the country's most strike-prone union even as the company is trying to ditch its wage structure.

  • Autos and miners help European shares to advance Monday, 18 May 2015 | 4:36 AM ET

    However, Italy's FTSE MIB index fell 0.9 percent as several companies in the index traded without the attraction of their latest dividend payouts. The STOXX Europe 600 Automobile and Auto Parts index rose 1.4 percent, the top sectoral gainer, helped by a 2.4 percent rise in shares of Volkswagen after Deutsche Bank saw an upside from efficiency gains at the...

  • *Car companies use Nvidia's "supercomputer on a chip". DETROIT, May 14- It took Silicon Valley chipmaker Nvidia Corp the better part of a decade to gain acceptance as a global automotive supplier, a lesson for other technology firms hoping to make a similar transition from consumer electronics to car components. Nvidia had a thriving business in supplying...

  • CARACAS/ NEW YORK, May 14- A growing number of U.S. companies say they can't cope with Venezuela's sinking bolivar currency, prompting some of them to remove their operations in the South American nation from their consolidated financial reports. The restructuring moves can shield the financial results of parent companies such as batteries and razors maker...

  • WASHINGTON, May 14- A former executive of Japanese auto parts maker T.RAD Co Ltd was indicted on Thursday on one charge of fixing the prices of radiators sold to car makers, the Justice Department said. Michitaka Sakuma, former executive managing director of T.RAD, was accused of coordinating with other auto parts makers to illegally set the prices of radiators...

  • China Automotive Systems posts 1Q profit Thursday, 14 May 2015 | 5:07 AM ET

    JING ZHOU, China _ China Automotive Systems Inc. on Thursday reported first-quarter net income of $8.5 million. China Automotive Systems shares have increased 3 percent since the beginning of the year. Keywords: China Automotive Systems, Earnings Report.

  • CARACAS/ NEW YORK, May 14- A growing number of U.S. companies say they can't cope with Venezuela's sinking bolivar currency, prompting some of them to remove their operations in the South American nation from their consolidated financial reports. The restructuring moves can shield the financial results of parent companies such as batteries and razors maker...

  • May 7- Canadian auto parts maker Magna International Inc reported better-than-expected quarterly sales, helped by demand in the United States. The company sold much of its vehicle interiors business, typically a lower-margin business, to Spain's Grupo Antolin in April. Magna also cut its 2015 sales forecast to $30.8 billion- $32.5 billion from $33.1 billion-...

  • Canadian auto parts maker Magna's sales drop 7 pct Thursday, 7 May 2015 | 8:13 AM ET

    May 7- Canadian auto parts maker Magna International Inc reported a 7 percent drop in quarterly sales, hurt by a stronger dollar. However, net income attributable to Magna rose to $465 million, or $1.12 per share, in the first quarter ended March 31 from $393 million, or 88 cents per share, a year earlier. Sales fell to $8.33 billion from $8.96 billion.

  • Auto supplier BorgWarner revenue falls 4.8 pct Thursday, 30 Apr 2015 | 8:10 AM ET

    April 30- Automotive supplier BorgWarner Inc reported a 4.8 percent fall in quarterly revenue as a stronger dollar reduced the value of overseas sales. Net income attributable to BorgWarner rose to $178.9 million, or 79 cents per share, in the first quarter ended March 31, from $159.1 million, or 69 cents per share, a year earlier. Revenue fell to $1.98 billion from...

  • WASHINGTON, April 23- An executive of Hitachi Automotive Systems Ltd has been sentenced to 15 months in prison for his role in a plan to fix the price of starter motors, alternators and other auto parts, the Justice Department said on Thursday. Takashi Toyokuni, who pleaded guilty in the U.S. District Court for the Eastern District of Michigan, also agreed to pay a...

  • April 23- Johnson Controls Inc, the largest U.S. auto parts supplier, reported a 3 percent fall in quarterly revenue, hurt by a stronger dollar. Johnson Controls' earlier profit forecast included a 20- cent contribution from its Global Workplace Solutions business, which it sold to CBRE Group Inc for $1.48 billion in March, the company said. Sales at Johnson...

  • April 23- Johnson Controls Inc, the largest U.S. auto parts supplier, reported lower-than expected quarterly revenue, hurt by a stronger dollar. Johnson Controls' earlier profit forecast included a 20- cent contribution from its Global Workplace Solutions business, which it sold to CBRE Group Inc for $1.48 billion in March, the company said.

  • Johnson Controls profit doubles in 2nd qtr Thursday, 23 Apr 2015 | 7:21 AM ET

    April 23- Johnson Controls Inc, the largest U.S. auto parts supplier, reported a 103 percent rise in quarterly profit as margins rose. The company also recorded income from discontinued operations of $78 million for the first quarter ended March 31, compared with a loss of $143 million, last year. Net income rose to $529 million, or 80 cents per share, from $261 million,...

  • European shares advance, Michelin leads Thursday, 23 Apr 2015 | 3:18 AM ET

    LONDON, April 23- European shares rose towards 14- year highs on Thursday, with French tyre maker Michelin leading the automobile and auto parts sector higher after announcing its first-quarter results. Shares in Michelin rose 4.7 percent, the top gainer in the pan-European FTSEurofirst 300 index, after its first-quarter revenue rose 5.6 percent, boosted by a...

  • *IBM says one of its largest partnerships with auto sector. FRANKFURT, April 22- PSA Peugeot Citroen and IBM are working together to hook cars up to the Internet, going beyond mapping and infotainment to link vehicles up to shops, service networks and urban transport grids, the companies said on Wednesday. It could also link vehicles to retailers, an IBM executive...

  • April 16- Canadian auto-parts maker Magna International Inc said on Thursday it will sell most of its vehicle-interiors operations to Spain's Grupo Antolin for about $525 million. The deal covers 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said. "Overall, we regard the deal as positive as it takes out of a...

  • April 16- Canadian auto parts maker Magna International Inc said it would sell most of its interiors operations to Spain's Grupo Antolin for about $525 million. The deal includes 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said. The operations included in the agreement recorded about $2.4 billion in sales...

  • LONDON/ FRANKFURT, April 15- The owners of Germany's car parts maker Getrag are reviewing a stock listing or a partial sale to an industry peer to build scale, several sources familiar with the matter said. But it is now challenged after Germany's ZF Friedrichshafen acquired U.S. rival TRW Automotive Holdings to create the world's second-largest automotive...

  • WASHINGTON, March 31- German-based auto parts company Robert Bosch GmbH agreed to plead guilty to fixing the prices of spark plugs and other auto parts, the U.S. Justice Department said on Tuesday. Robert Bosch is accused of rigging bids for spark plugs, oxygen sensors and starter motors sold to Ford Motor Co, General Motors Co, and others between 2000 and 2011, the...