DETROIT, Sept 18- A federal grand jury in Detroit on Thursday indicted seven executives from two Japanese auto parts makers on charges of price fixing, the U.S. Department of Justice said.» Read More
Bankrupt U.S. auto parts maker Delphi, which reached a cost-cutting deal with the United Auto Workers, hopes to complete agreements with its remaining unions by mid-August, it said in court papers.
The headline this morning from Automotive News is hardly surprising, but it is another reminder of how the U.S. auto industry has changed dramatically in recent years. The latest data shows Japan surpassed the U.S. last year to become the world's #1 vehicle producer. It's the first time in 12 years Japan has outpaced the U.S. Not only that, but the Asian country is on track this year to expand its lead.
European auto manufacturers will struggle to maintain credit ratings in a very difficult environment despite expected long-term global growth in demand, Moody's Investors Service said in a report. Over-capacity is just one of several challenges the Original Equipment Manufacturers are facing, the agency added.
Middle Eastern investment funds are targeting Jaguar and Land Rover, the British luxury car brands that U.S. owner Ford Motor is considering selling, the Observer newspaper said on Sunday.
The stock market's recently moody and wild swings should give way to a less rambunctious holiday week where traders focus on upcoming earnings and economic fundamentals.
The United Auto Workers said that members have ratified a deal that gives Delphi concessions on wages, benefits and plant closings the auto parts maker has said it must have to exit bankruptcy.
For investors, employees and retirees of General Motors this has been the spring of smiles. Consider this: shares of GM are at a multi-year high, Wall Street (including S&P today) is becoming more optimistic about GM's recovery and there's a genuine feeling the company will come out of the UAW contract talks in pretty good shape.
It seems obvious, but if you look at the latest survey by J.D. Power and Associates of what appeals to new vehicle buyers, there's a consistent theme. The luxury automakers are meeting the needs and desires of their customers. The top 5 on the list: Porsche, BMW, Mercedes, Jaguar, and Lexus. The top three are a repeat of last year's survey with Jaguar jumping into the top 5.
General Motors Thursday said it reached a deal to sell its Allison Transmission unit for $5.6 billion to private-equity firms Carlyle and Onex, sending the automaker's shares to the highest level in 2-1/2 years.
Ford will offer zero-percent financing for three years on all 2007 Ford, Lincoln and Mercury models and additional cash on some vehicles as it tries to clear showroom floors at the end of the month.
Billionaire investor Carl Icahn told CNBC that he is standing firm on his $36 dollar-per-share bid for auto parts maker Lear Corp. "There's no way we're going to raise it," Ichan said in an interview with Maria Bartiromo.
Travellers switching from cars to bus and rail due to environmental concerns helped Britain's Stagecoach boost year profit by 38%, beating forecasts, as it reported a strong start to its new financial year.
The auto and reinsurance industries are under one portfolio manager's radar, as he predicts high yields from those segments over the next three years. Laton Spahr, RiverSource Investments portfolio manager, told "Morning Call" he likes Ford Motor and XL Capital.
A New Jersey importer has asked the U.S. National Highway Traffic Safety Administration for help in recalling about 450,000 light-truck tires made in China after a fatal car accident, lawyers said.
Porsche said it expects its full year to July 31, 2007 pretax profit to be "significantly" better than the 2.1 billion euros ($2.8 billion) posted in the previous business year.
Ford Motor has hired accountancy group KPMG to examine the books at its British units Jaguar and Land Rover ahead of their expected sale later this year, the Sunday Times reported.
Lear, which has faced criticism for accepting billionaire Carl Icahn's $36-per-share buyout offer, delayed a shareholder vote on the deal until July 12, the auto parts maker said on Friday.
The bull is back at Ford. At least that's the attitude Ford is taking with the re-birth of the Taurus. But as - walk around the new Taurus being built here at Ford's plant on the south side of Chicago, I'm wondering how much of a charge this new bull will lead at Ford.
Senators reached agreement on a proposal to increase automobile fuel economy standards to 35 miles per gallon, the first significant boost demanded of automakers in nearly 20 years.
Volkswagen, Europe's biggest automaker by sales, said Thursday that deliveries of new cars in the first five months of 2007 were up 7.6% from last year, with 2.5 million sold amid rising demand in Europe and Asia.