The Stuttgart- based maker of cars and trucks has been trying to bounce back after rival Audi eclipsed Mercedes in 2011 as the world's second biggest luxury car maker behind BMW.» Read More
BERLIN— Automaker Daimler AG reported a 6 percent increase in second-quarter revenue and confirmed its full-year targets on Wednesday as new models and cost-cutting efforts helped its performance, though net profit declined sharply after a big one-time gain last year.
MEXICO CITY, July 22- South Korean automaker Kia Motors Corp is in talks with Mexico to open a new auto plant worth at least $1.5 billion, officials from Nuevo Leon's state government said on Tuesday.
DETROIT, July 22- Chrysler Group LLC said on Tuesday it is recalling 792,300 older-model Jeep SUVs for ignition switch problems, the second recall of its kind for the No. 3 U.S. automaker this year. Of the recalled models, 649,900 are in the United States, 28,800 are in Canada, 12,800 in Mexico and 100,800 outside of North America.
DETROIT— The ignition switch defects that engulfed General Motors are now a rapidly growing problem at Chrysler. Chrysler said Tuesday it is recalling up to 792,300 older Jeep SUVs worldwide because the ignition switches could fall out of the "run" position, shutting off the engine and disabling air bags as well as power-assisted steering and braking.
July 22- U.S. motorcycle maker Harley Davidson Inc came late to the offshoring game. For Harley-Davidson, they turned a happy debut into a near-debacle, as its second-quarter earnings released on Tuesday showed.
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.
WASHINGTON— In a story July 16, The Associated Press reported that General Motors became the first big automaker to support legislation barring rental-car companies from renting or selling vehicles subject to a recall.
July 22- Harley-Davidson Inc cut its full-year forecast for motorcycle shipments on Tuesday, citing weaker-than-expected U.S. retail sales and a delay in getting its newest bike into dealer showrooms.
Odds are the person driving with the top down is a wealthy baby boomer who probably has a bachelor's degree, or perhaps even a master's or doctorate.
July 22- Harley-Davidson Inc reported a higher-than-expected quarterly profit on Tuesday but cut its full-year forecast for motorcycle shipments, citing weaker-than-expected U.S. retail sales and a delay in getting its newest bike into dealer showrooms.
*Profit $1.18/ shr vs est $1.09/ shr. The company, which gets most of its revenue from the sale of luxury and mid-line cars made by BMW, Mercedes-Benz and Honda, said it sold 13 percent more luxury cars at stores opened for at least a year.
July 22- U.S. auto dealer Asbury Automotive Group Inc posted a 33 percent jump in quarterly profit, driven by strong demand for luxury vehicles. The company's net income rose to $35.9 million, or $1.18 per share, in the second quarter ended June 30, from $27 million, or 87 cents per share, a year earlier. Revenue increased 12 percent to $1.50 billion.
CNBC contributor Herb Greenberg discusses guidance comments made by AutoNation CEO Mike Jackson and red flags Michael Kors.
LONDON, July 21- European shares fell on Monday as fighting erupted in eastern Ukraine, while sales data from French carmaker Peugeot raised concern about demand from emerging markets. Peugeot's shares fell 3.8 percent after it said deliveries fell 25.8 percent in Russia, 26.8 percent in Latin America and 37.2 percent in Africa and the Middle East.
The Insurance Institute for Highway Safety issued its first list of used vehicles that it most recommends for young motorists.
BERLIN, July 19- German car parts supplier ZF Friedrichshafen believes buying U.S peer TRW Automotive Holdings Corp would give it a better foothold in the market for self-driving and connected cars, its finance chief told a German paper.
DETROIT, July 18- General Motors Co in 2003 and 2004 made changes to redesigned ignition switch parts on four models but did not ensure that older, potentially faulty parts were taken out of circulation, the automaker said in a filing with U.S. safety regulators made public on Friday.
DETROIT— Toyota wants to help you scream at your unruly kids. Toyota says it added Easy Speak "so parents don't have to shout to passengers in the back. Automakers are trying to come up with creative ways to make the out-of-fashion minivan more appealing, said Jessica Caldwell, senior analyst at the Edmunds.com automotive website.
Before Nissan's first self-driving cars go on sale in 2020, it will launch new technologies that supplement the driver behind the wheel.
DETROIT— Kia is recalling nearly 52,000 Soul small SUVs to fix a problem that can cause steering failure. The recall covers vehicles from the 2014 model year built from July 21, 2013, through Jan. 17, 2014. The Korean automaker says a plug that secures a pinion gear to the steering assembly can loosen and cause the gear to separate.