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Auto Parts and Equipment

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  • NEW YORK— Auto parts supplier Visteon said Monday that President and CEO Timothy Leuliette will step down this year. Visteon said Leuliette, who is also a member of the board of directors, will step away from the company after a successor is appointed. Shares of Visteon Corp. lost 94 cents to $97.59 in afternoon trading.

  • WASHINGTON, Feb 26- A measure that would offer financial incentives for auto industry employees to expose safety defects won unanimous backing from a U.S. Senate panel on Thursday. The vote by 13 Republican and Democratic members of the Senate Commerce, Science and Transportation Committee sends the legislation, which would allow whistleblowers to share in...

  • WASHINGTON, Feb 26- A measure that would offer financial incentives for auto industry employees to expose safety defects won unanimous backing from a U.S. Senate panel on Thursday. The vote by 13 Republican and Democratic members of the Senate Commerce, Science and Transportation Committee sends legislation to the floor of the Senate that would allow...

  • Auto parts maker Visteon's revenue rises 21 pct Thursday, 26 Feb 2015 | 7:44 AM ET

    Feb 26- Auto parts maker Visteon Corp reported a nearly 21 percent rise in quarterly revenue as higher vehicle production in Asia and Europe boosted sales of its air conditioners. Visteon reported a net loss attributable to the company of $138 million, or $3.12 per share, compared with a profit of $513 million, or $10.32 per share. Visteon's fourth-quarter profit...

  • Feb 25- Auto parts maker Magna International Inc reported stronger than expected quarterly earnings on Wednesday while announcing a higher dividend and a stock split, sparking a rally in its shares. Canaccord Genuity analyst David Tyerman said both Magna's sales and margins came in ahead of his forecasts. Magna cut its 2015 forecast for total production...

  • Feb 25- Canadian auto parts maker Magna International Inc cut its revenue forecast for 2015, hurt by weak demand from Europe. Demand for cars picked up in Europe last year after a six-year slump, boosted by incentive schemes from governments and carmakers. It lowered its forecast for production sales in Europe to $8.3 billion- $8.7 billion from $9.0 billion- $9.4...

  • Canadian auto parts maker Magna's profit rises 11 pct Wednesday, 25 Feb 2015 | 5:21 AM ET

    Feb 25- Canadian auto parts maker Magna International Inc reported a 11 percent rise in quarterly profit, helped by strong demand in North America. Magna said its dividend would rise to 44 cents per share from 38 cents after the stock split. The net income attributable to the company rose to $509 million, or $2.44 per share, in the fourth quarter ended Dec. 31 from $458...

  • DETROIT, Feb 22- Chinese auto parts maker Wanxiang Group will push back its planned relaunch of the defunct Fisker Karma hybrid sports car until mid-2016 and rebrand Fisker Automotive as Elux, two sources familiar with the plan said Sunday. Wanxiang, which acquired the assets of California- based Fisker Automotive a year ago in a U.S. bankruptcy auction, had hoped...

  • WASHINGTON/ DETROIT, Feb 20- U.S. regulators on Friday slapped Takata Corp with a $14,000 per-day fine for failing to fully cooperate with a probe of its faulty air bags and revealed that a fraction of the 17 million cars recalled because of the problems have been repaired. "As you are well aware, NHTSA has repeatedly engaged Takata and asked for the company's...

  • Road salt: The winter's $2.3 billion game changer Wednesday, 18 Feb 2015 | 1:49 PM ET
    A garbage truck which slid off a road in Gorham, Maine.

    The economics surrounding a certain commodity can be a game changer for city officials in the snow belt. And it's sitting on your dinner table.

  • SAN FRANCISCO, Feb 15- Japanese carmaker Honda Motor Co Ltd plans to slow production at some of its plants in North America due to a parts shortage caused by a partial shutdown of ports along the West Coast. The company expects shortages at its operations in Ohio, Indiana and Ontario, Canada, starting Monday and for each plant to adjust its production between Feb. 16...

  • FRANKFURT, Feb 14- Technology giant Apple is learning how to make a self-driving electric car and is talking to experts at carmakers and automotive suppliers, an automotive source familiar with the talks said on Saturday. The Cupertino, California- based maker of phones, computers and watches is exploring how to make an entire vehicle, not just designing...

  • Feb 12- Honda Motor CEO Takanobu Ito, under fire for how he is dismantling the traditional way the Japanese car maker sources parts and technologies, has resisted moves for his ouster and will fight on for another two-year term, according to four people with direct knowledge of the matter. Ito took over in 2009, and for the past three years has shaken up Honda's...

  • Feb 9- Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to activist investor Carl Icahn's investment company Icahn Enterprises LP for about $340 million. Icahn Enterprises said in a regulatory filing that the business acquired from Uni-Select would be operated independently from its auto parts subsidiary...

  • Feb 9- Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to an affiliate of Icahn Enterprises LP for about $340 million. The deal includes nearly all the assets of Uni-Select USA Inc and Beck/Arnley Worldparts Inc and excludes Uni-Select's FinishMaster paint and coatings business. Uni-Select said it expected to incur an...

  • TOKYO, Feb 5- Japanese auto parts maker Takata Corp booked nearly $30 million in extra charges to cover vehicle recalls to replace potentially deadly air bag inflators, as well as other costs, pushing it to a bigger loss this year than previously forecast. Takata, at the center of a long-running global recall crisis, said on Thursday said it booked a total special...

  • Feb 3- Activist investor Mick McGuire said Tuesday Lear Corp's stock price could surge by nearly 50 percent if the auto supplier splits into two publicly traded companies, a proposal that Lear's management said it was considering. McGuire's $3- billion hedge fund Marcato Capital Management, which owns 4.6 percent of Lear's shares, proposed dividing the auto...

  • WASHINGTON, Feb 2- Japan's Minebea Co Ltd has agreed to plead guilty to fixing the prices of ball bearings and to pay a $13.5 million criminal fine, the U.S. Justice Department said on Monday. Minebea's plea brings to 34 the number of companies which have been charged with fixing prices of auto parts in the United States. Other auto parts companies that have settled...

  • FRANKFURT, Jan 30- A boom in demand for car safety systems will help German engineer Robert Bosch to boost sales and profit margins this year, it forecast on Friday. The company, a major supplier of electronic and mechanical automotive components, said preliminary figures showed group sales reached 48.9 billion euros last year, up 6.2 percent on the year before,...

  • DETROIT, Jan 29- Honda Motor Co said on Thursday that a driver was killed last week in a Houston suburb in a 2002 Accord equipped with a Takata Corp air bag that may have ruptured. The Harris County Sheriff is investigating the crash, which occurred Jan. 18 in Spring, Texas, north of Houston, and identified the driver as 35- year-old Carlos Solis. Takata's handling of air...