LANSING, Mich.— Michigan on Tuesday approved state incentives for nine economic development projects expected to bring about 3,900 jobs, nearly half from General Motors consolidating engineering jobs from outside the state at a site in Michigan.» Read More
WASHINGTON, April 23- Japan's Showa Corp has agreed to plead guilty to fixing the prices of electric power steering assemblies and to pay a $19.9 million fine, the Justice Department said on Wednesday.
April 23- Johnson Controls Inc reported a better-than-expected quarterly profit as higher vehicle production in key markets drove up sales of car seats and other auto parts. Johnson Controls cut its 2014 earnings forecast to adjust for the sale of the electronics business.
April 16- U.S. auto parts maker Johnson Controls said it would buy Air Distribution Technologies, which makes air ventilation products used in buildings, from the Canada Pension Plan Investment Board for about $1.6 billion.
WASHINGTON, April 15- U.S. lawmakers probing how General Motors used faulty ignition switches in many vehicles are turning their scrutiny to the supplier of the part, Delphi Automotive.
WASHINGTON/ DETROIT, April 11- Documents made public on Friday by a U.S. House of Representatives committee provided fresh details on General Motors Co's awareness of problems surrounding ignition switches in millions of its cars- long before the Detroit automaker recalled the vehicles.
*Bernstein upgrades lift Porsche and Volkswagen. The STOXX Europe 600 Automobile& Auto Parts Index was the best-performing equity sector in Europe, rising 1.3 percent as Volkswagen and Porsche both benefited from an upgrade by the brokerage Bernstein. Bernstein raised its rating on Porsche and Volkswagen to "outperform" from "market perform".
*Rea to propose five nominees to Martinrea's board. *Martinrea's stock has underperformed peers. Rea Holdings, a Toronto- based holding company controlled by Nat Rea, a former president and deputy chairman of Martinrea, said on Thursday it intends to propose five nominees for election to the board, setting the stage for a proxy battle.
*Reuters/ Ipsos poll: 67 pct want tougher U.S. auto regulation. WASHINGTON, March 25- U.S. lawmakers are considering calling on former General Motors Co executives and employees from parts supplier Delphi Automotive to testify as they cast a wide net in their probe of GM's recall of 1.6 million vehicles with potentially lethal ignition-switch problems.
BRUSSELS, March 25- EU competition regulators have raided several car parts makers involved in producing vehicle exhaust systems, including French firm Faurecia, Germany's Eberspaecher Group and TenneCo of the United States, as part of a wider probe into suspected price fixing in the auto industry.
BRUSSELS, March 25- European Union antitrust regulators raided French car parts makers Faurecia and several other auto exhaust systems makers on Tuesday, the latest crackdown against suspected price-fixing in the auto industry. Faurecia, which is 52- percent owned by French carmaker Peugeot Citroen, confirmed the EU raids.
Wired Magazine reports that German engineering firm EGAD has a design for 3-D printed the frame of a car.
BEIJING, March 11- China will launch pilot programmes testing the development of privately-owned banks in Tianjin, Shanghai, Zhejiang and Guangdong, the country's bank regulator Shang Fulin said on Tuesday.
*Continental to pay higher 2013 dividend of 2.50 euros. FRANKFURT, March 6- German auto parts and tyre maker Continental is considering further acquisitions, weeks after announcing the purchase of U.S. rubber firm Veyance Technologies for 1.4 billion euros.
March 4- AutoZone Inc, the second-largest U.S. auto parts retailer, reported quarterly results that beat analysts' estimates as a severe winter led to more wear and tear on vehicles. AutoZone shares rose more than 3 percent in premarket trading.
March 4- Autozone Inc, a U.S. auto parts retailer, reported a 9.4 percent increase in second-quarter profit as an unseasonably cold winter drove up sales. Net income rose to $192.8 million, or $5.63 cents per share, from $176.3 million, or $4.78 per share, a year earlier. Autozone shares were up 1 percent in premarket trading.
Toronto, March 3- Magna International Inc, one of the world's largest auto parts suppliers, said on Monday that quarterly profit jumped 31 percent, driven by a pickup in North America and Europe, and hiked its dividend.
March 3- Canada's Magna International Inc, one of the world's largest auto parts suppliers, posted a 31 percent jump in quarterly profit due to a pickup in vehicle production in North America and Europe, and the company raised its dividend.
March 3- Senior Plc, a maker of aircraft parts and auto components, said it expects higher demand in 2014, as big customers Airbus Group NV and Boeing Co look to ramp-up production. Airbus, earlier known as EADS, said last month that it intends to increase production of its jetliners- in stride with arch-rival Boeing's plans.
March 3- Canada's Magna International Inc, one of the world's largest auto parts suppliers, posted a 31 percent jump in quarterly profit and raised its dividend. Magna said net income attributable to the company rose to $458 million, or $2.03 per share, in the fourth quarter ended Dec. 31 from $351 million, or $1.49 per share, a year earlier.
Feb 25- Visteon Corp, the auto parts maker, posted a stronger-than-expected quarterly profit on Tuesday and reaffirmed its forecasts for 2014, sending its shares up in morning trading. Net income surged to $513 million, or $10.32 a share, in the fourth quarter, compared with $39 million, or 74 cents a share, in the year earlier period.