WASHINGTON, April 24- In an unusual move, three top officials with the U.S. Federal Trade Commission on Thursday voiced their opposition to laws that ban automakers such as Tesla Motors Inc from selling their cars directly to consumers. Such laws are currently in place in Arizona, Maryland, New Jersey, Texas and Virginia.» Read More
Top FTC officials came out in opposition to laws that ban automakers like Tesla from selling their automobiles directly to consumers.
WASHINGTON, April 24- In an unusual move, three top officials with the U.S. Federal Trade Commission on Thursday came out in opposition to laws that ban automakers like Tesla Motors Inc from selling their automobiles directly to consumers. Such laws are currently in place in Arizona, Maryland, New Jersey, Texas and Virginia.
SHANGHAI, April 24- Warren Buffett- backed Chinese carmaker BYD Co posted an 89 percent drop in first-quarter earnings on Thursday, hit by falling vehicle sales. BYD and other Chinese carmakers, including Geely Automobile Holdings and Chery Automobile Co, are losing market share to foreign rivals such as Volkswagen, General Motors and Ford.
DETROIT, April 24- Parts supplier Delphi Automotive Plc Chief Executive Officer Rodney O'Neal declined on Thursday to discuss costs related to the General Motors Co ignition switch recall. Delphi produced the ignition switches involved in the recall of 2.6 million GM vehicles that have been linked to at least 13 deaths.
CNBC's Phil LeBeau and Chuck Stevens, CFO of General Motors, dissect the automaker's quarterly numbers. Stevens weighs in on how the recall scandal impacted the company's bottom line. Our recall charge is overshadowing our overall results, says Stevens.
April 24- Auto parts maker Delphi Automotive Plc reported a better-than-expected quarterly profit, helped by strong demand in Asia and North America, and raised its 2014 earnings outlook. The company said it now expects 2014 adjusted earnings between $4.80 and $5.00, up from its previous forecast of between $4.70 and $4.95 a share.
CNBC's Phil LeBeau breaks down the automaker's quarterly numbers of $0.06 EPS ex-items on revenues of $37.4 billion versus estimates of $38.40 billion.
DETROIT— The cost of recalling nearly 7 million cars and trucks sank General Motors' first-quarter profit, but the company's CEO said the much-publicized recalls have yet to cut into sales. The Detroit automaker is facing government investigations and lawsuits over the small-car recall.
April 24- Auto parts maker Delphi Automotive Plc reported a 16 percent rise in quarterly profit, helped by strong demand in Asia and North America, and raised its 2014 earnings outlook. The net income attributable to Delphi rose to $320 million, or $1.04 a share, for the first quarter ended March 31, from $276 million, or $0.88 a share, in the year earlier period.
*Sees 2nd- qtr revenue $3.14 bln- $3.40 bln vs est $3.15 bln. April 23- Chipmaker Texas Instruments Inc's first-quarter revenue and second-quarter revenue forecast topped analysts' estimates on growing demand for its chips used in communication equipment, industrial machines and automotive parts.
LATHROP, Calif.— Electric car maker Tesla Motors is expanding its footprint in California. The company has leased a 430,000- square-foot building in Lathrop, a community on Interstate 5 about 75 miles east of San Francisco. The Sacramento Bee reports that the Lathrop facility is too small for the battery plant.
TOKYO, April 23- Toyota Motor Corp kept its position as the world's best-selling car maker in the first quarter of 2014, beating rivals Volkswagen AG and General Motors Co after it sold record 2.58 million vehicles globally. Toyota's group sales include figures from minicar maker Daihatsu Motor Co along with truck and bus maker Hino Motors Ltd..
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.
The U.S. manufacturing sector expanded in April though the rate of growth was slightly lower than expected as inventories fell.
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.
Toyota kept its position at the top in global vehicle sales for the first quarter, outpacing General Motors and Volkswagen.
Wellness programs grow more popular with employers Brazil passes bill on Internet privacy Q&A: A French economist's grim view of wealth gap Sales of new US homes plunge 14.5 percent in March Faster production brings Boeing $965 M 1 Q profit US stocks edge lower after a six-day rally Textron eliminating 750 Cessna, Beechcraft jobs Skechers sprints to multi-year highs in a big week Procter& Gamble 3 Q net income up on cost cuts Toyota sells 2.58 million vehicles, outselling GM
LOS ANGELES— The mother of a 17- year-old honors student who was among 10 people killed in a fiery Northern California bus crash sued FedEx on Tuesday, alleging that its trucks have a history of catching fire. She and other teens were heading north for a free tour of Humboldt State University when the bus was struck head-on by a FedEx truck.
WASHINGTON, April 22- Former General Motors Co chief executives should be called to testify to the U.S. Congress about the company's slow response to defective ignition switches in cars that have been linked to at least 13 deaths, a Democratic senator said on Tuesday.
DETROIT, April 22- General Motors' top engineering executive, a longtime colleague and key lieutenant of Chief Executive Mary Barra, is retiring in the automaker's highest profile executive change since the massive recall of vehicles with defective ignition switches linked to at least 13 deaths.