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Automobiles and Components

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  • DETROIT, April 30- Delphi Automotive Plc Chief Executive Kevin Clark said that the company will likely spend $1 billion to $3 billion this year on a large acquisition related to software to enhance vehicle connectivity. Clark said in a Thursday interview with Reuters after the company issued first-quarter earnings that "there is a funnel of some larger...

  • OSHAWA, Ontario— General Motors Canada says it will cut about 1,000 positions from its Oshawa manufacturing operations this year. GM Canada says it's working with the Unifor union, formerly known as the Canadian Auto Workers, to offer retirement incentives to eligible workers. General Motors says it will continue to produce five vehicles in Oshawa.

  • PARIS, April 30- The French government will increase its influence at Renault after shareholders failed to block a change in voting rights which the carmaker has said could damage its alliance with Japan's Nissan. It has said it wants to safeguard French interests at Renault, which is deepening its ties with Nissan. Renault owns 43.4 percent of Nissan.

  • DETROIT, April 30- General Motors Co said on Thursday it will spend $5.4 billion over the next three years on its U.S. manufacturing plants to boost production and vehicle quality. GM outlined about $784 million of the investments for three Michigan plants, and said it would give details over the next several months about the remaining $4.6 billion in spending.

  • PARIS, April 30- Daimler, which has a 3.1 percent stake in Renault, has voiced concerns about the French government's attempts to increase its voting rights in the French carmaker, Renault said on Thursday. However, Renault has warned that the French government's increased influence could upset its alliance with Japanese carmaker Nissan.

  • DETROIT— General Motors plans to spend $5.4 billion to improve its U.S. factories during the next three years, creating about 650 new jobs. The investments come as Detroit automakers prepare for contract talks with the United Auto Workers union that will start this summer, and as many automakers including GM are announcing plans to build or expand factories in...

  • Tesla shares charged up ahead of battery news Thursday, 30 Apr 2015 | 8:31 AM ET
    A Tesla Model S charges up in Short Hills, New Jersey.

    Tesla shares are having their best month in more than a year leading up to the company's battery announcement.

  • Auto supplier BorgWarner revenue falls 4.8 pct Thursday, 30 Apr 2015 | 8:10 AM ET

    April 30- Automotive supplier BorgWarner Inc reported a 4.8 percent fall in quarterly revenue as a stronger dollar reduced the value of overseas sales. Net income attributable to BorgWarner rose to $178.9 million, or 79 cents per share, in the first quarter ended March 31, from $159.1 million, or 69 cents per share, a year earlier. Revenue fell to $1.98 billion from...

  • AUBURN HILLS, Mich.— Hurt by the strong dollar, auto parts supplier BorgWarner reported disappointing first-quarter results and lowered its outlook for the year. BorgWarner now expects full-year earnings in the range of $3.10 to $3.30 per share, down from its previous forecast between $3.35 and $3.55 per share. BorgWarner expects full-year revenue to fall as...

  • April 29- General Motors Co said it is likely it will cease vehicle production in Venezuela in July as the automaker joins other U.S. corporations in taking action to shield their profits from the South American country's volatile currency. GM has one plant in Venezuela, in Valencia, where it builds the Chevrolet Aveo and Cruze cars, the Orlando crossover vehicle...

  • *China's Avic forecast to become world's biggest drone maker. While its technology lags the United States and Israel, the biggest vendors of unmanned aerial vehicles, China is attracting a growing list of foreign buyers including Nigeria, Pakistan and Egypt. Market researcher Forecast International pegged the value of production for military drones...

  • April 29- U.S. electric carmaker Tesla Motors plans to make a big investment in charging infrastructure throughout Japan, the company's CEO Elon Musk told the Nikkei in an interview. All the charging stations will be either directly or indirectly solar powered, Musk told the daily. There will be no impact to the electrical grid in Japan, "Musk said in the interview.

  • Japanese PM seeks tech innovation in Silicon Valley visit Wednesday, 29 Apr 2015 | 4:13 PM ET

    Japan's Prime Minister Shinzo Abe plans a swing through California's Silicon Valley on Thursday, speaking with Stanford University experts about innovation, building relationships with tech firms and investors, and— as head of one of the world's leading car producing nations— popping in on electric carmaker Tesla Motors. He will go to Stanford for a speech...

  • DETROIT, April 29- General Motors on Thursday will announce a multibillion-dollar, multiyear investments in several U.S. manufacturing plants in a move to boost production and vehicle quality, a person familiar with the matter said. The announcement comes as GM and the United Auto Workers union gear up to negotiate a new master contract this fall for GM's...

  • GM plans to cease vehicle production in Venezuela in July Wednesday, 29 Apr 2015 | 3:53 PM ET

    April 29- General Motors Co said it is likely it will cease current vehicle production in Venezuela in July as the U.S. automaker continues to have difficulty exchanging dollars in the South American country.

  • *Fiat Chrysler CEO Calls for "largescale" consolidation. MILAN/ DETROIT, April 29- Fiat Chrysler Automobiles Chief Executive Sergio Marchionne on Wednesday made a plea for shrinking the number of players in the global auto industry as the company reported lower-than-expected first quarter results and outlined new plans to boost North American profit...

  • Car thieves get help from forgetful drivers Wednesday, 29 Apr 2015 | 10:41 AM ET
    Car keys in ignition

    At least $750 million worth of vehicles were stolen between 2012 and 2014 because motorists left the keys inside, according to the NICB.

  • MILAN, April 29- Fiat Chrysler Automobiles on Wednesday reported a slightly lower than expected rise in first-quarter operating profit as Latin American losses dented a strong performance in North America. The world's seventh-largest carmaker, which moved its primary listing to New York in October and is due to spin off luxury unit Ferrari later this year,...

  • DETROIT, April 29- Ford Motor Co said on Wednesday it is recalling more than 591,000 vehicles in North America for four separate problems, including possible broken bolts that could make steering more difficult. The No. 2 U.S. automaker said it is recalling 518,313 Ford Fusion and Lincoln MKZ sedans from model years 2013-2015 and Ford Edge crossover vehicle from...

  • NASHVILLE, Tenn.— The United Auto Workers union has 816 members at the Volkswagen plant in Tennessee, or about 55 percent of the total blue collar work force, according the union's latest disclosure with the U.S. Department of Labor. The UAW last year narrowly lost a union vote at the Chattanooga plant that featured heavy campaigning by anti-union Republicans...