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Automobiles and Components

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  • Jan 27- AK Steel Holding Corp, the fourth-largest U.S. steelmaker by market capitalization, reported a better-than-expected quarterly profit, helped by strong demand from automakers. AK Steel makes flat-rolled carbon, stainless and electrical steels, and tubular products for car makers, industrial and construction companies and utilities.

  • Volkswagen, Audi, Porsche issue recalls for fuel leaks Tuesday, 27 Jan 2015 | 9:25 AM ET

    DETROIT— Audi, Volkswagen and Porsche are recalling more than 93,500 cars and SUVs worldwide to fix fuel leak problems. The recalls cover the Audi A6 and Volkswagen Touareg hybrid from the 2012 model year, the Audi A7 from 2012 and 2013, and the Audi Q7, S4 and S5 from 2011 through 2012. All the vehicles have 3- liter V-6 engines, according to documents posted Tuesday...

  • Oshkosh tops 1Q profit forecasts Tuesday, 27 Jan 2015 | 7:30 AM ET

    OSHKOSH, Wis. _ Oshkosh Corp. on Tuesday reported fiscal first-quarter profit of $34.6 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share. Oshkosh expects full-year earnings in the range of $4 to $4.25 per share.

  • Toyota's move to merit-based pay is right: Pro  Monday, 26 Jan 2015 | 8:38 PM ET

    Karl Brauer, Senior Director, Insights at Kelley Blue Book, discusses news that Toyota Motor is changing the way it pays factory workers, in a bid to attract young talent.

  • DETROIT— With only five days left before the deadline to seek payments, compensation expert Kenneth Feinberg has decided that 50 death cases are eligible for money due to crashes caused by faulty General Motors ignition switches. Feinberg, who was hired by the automaker to handle death and injury claims, released new totals on Monday. Last year the company set...

  • Soros eyes auto sweet spot  Monday, 26 Jan 2015 | 8:43 AM ET

    CNBC's Phil LeBeau reports billionaire investor George Soros may snap up a big stake in a large car dealership group.

  • Kia recalling nearly 87,000 Fortes because of fire risk Saturday, 24 Jan 2015 | 12:42 PM ET

    Kia Motors America is recalling nearly 87,000 of its 2014 Forte sedans because of faulty equipment that could cause the cars to catch fire. The recall notice issued Saturday affects Kia Fortes made from Dec. 5, 2012, through April 17, 2014. The recall by the South Korean automaker is expected to begin Feb. 24.

  • Volkswagen to recall 80,000 Audis; 35,000 in China Saturday, 24 Jan 2015 | 7:32 AM ET

    German car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi, with around 35,000 of the affected vehicles from China.

  • Volkswagen to recall 80,000 Audis; 35,000 in China Saturday, 24 Jan 2015 | 6:00 AM ET

    BEIJING, Jan 24- German car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi due to issues with the fuel injection system, Audi said on Saturday, adding that around 35,000 of the affected vehicles are from China. The cars were made between April 2011 and April 2012, and "in rare cases customers may notice a smell of fuel in affected vehicles,"...

  • For more than a year Ford has said its ability to get auto parts for its operations in Venezuela have been hampered by the valuation of the Venezuelan bolivar, and made the accounting change effective Dec. 31. General Motors Co, Clorox, Procter& Gamble, Baker Hughes and Brink's have also taken hits to their respective bottom lines in the past year because of the...

  • Atlantic City vs Detroit: Who is better off? Friday, 23 Jan 2015 | 5:22 PM ET

    Jan 23- "At least we're not Detroit," Atlantic City's Mayor joked just last week during his state of the city address. Yet by some measures, Atlantic City is in worse shape than Detroit, with which it shares such traits as a high poverty rate. While the Motor City's Big Three automakers emerged from crisis by the time Detroit was being restructured, Atlantic City's...

  • In the first major defection by a carmaker since Takata's safety crisis began, Honda, Takata's largest customer, will use air bags made by Toyoda Gosei for the all-new Accord, scheduled to go on sale in August 2017, the people told Reuters. Honda's decision to shift to a competitor for the most important vehicle in its largest market represents a major blow for...

  • *70 pct of cars bought on credit- Citi. LONDON, Jan 23- Shares in European carmakers powered to record highs on Friday as investors bet the European Central Bank's trillion-euro bond-buying plan would drive down the cost of car financing as well as boost eurozone companies' exports. Some 70 percent of cars in developed markets are bought on credit, according to...

  • Ford changed the method of accounting for its Venezuela operations on Dec. 31, which it said will result in a one-time pre-tax special item charge of $800 million for the fourth quarter. The No. 2 U.S. automaker has been operating in Venezuela for 53 years. The $800 million special item charge for the fourth quarter is an accounting change and does not include any...

  • DETROIT— Ford says it will take an $800 million charge in the fourth quarter because of exchange rate problems between the Venezuelan bolivar and the U.S. dollar. But the automaker still expects a full-year pretax profit of $6 billion when it reports 2014 earnings Thursday. The Dearborn, Michigan, automaker has had operations in Venezuela for 53 years.

  • GM's Barra: No long term impact of low gas prices Friday, 23 Jan 2015 | 6:55 AM ET
    General Motors Chief Executive Officer Mary Barra

    General Motors isn't changing anything in the long term because of lower gas prices, CEO Mary Barra tells CNBC in Davos.

  • Five years from now, you'll want to own these cars Friday, 23 Jan 2015 | 5:29 AM ET
    Members of the media look over the 2016 Lexus GS F at the North American International Auto Show in Detroit, January 13, 2015.

    Subaru and Lexus saw sales grow faster than the industry average, the two are also selling models expected to retain more of their value than rivals.

  • GM's Barra: We're seizing opportunities  Friday, 23 Jan 2015 | 5:00 AM ET

    Mary Barra, CEO of General Motors, says the oil price drop doesn't affect the company in the long-term, and that it's going to "respond to what the consumers want".

  • *FTSEurofirst 300 rises 1.4 pct, hits 7- year high. PARIS, Jan 23- European shares rose in early trade on Friday, enjoying their best two-week rally in five years, as investors cheered the European Central Bank's decision to buy government bonds. Cyclical stocks such as carmakers, seen as the big winners of the drop in the euro currency, featured among the biggest...

  • European shares extend rally on ECB boost Friday, 23 Jan 2015 | 3:11 AM ET

    PARIS, Jan 23- European shares rose in early trade on Friday, gaining ground for the seventh consecutive session, as investors cheered the European Central Bank's decision to buy government bonds. Cyclical stocks such as carmakers featured among the biggest gainers again, with BMW up 2.3 percent and PSA Peugeot Citroen up 2.2 percent. Ghosn told participants at...