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Automobiles and Components

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  • Uber's misdemeanours won't discourage investors  Friday, 12 Dec 2014 | 4:40 AM ET

    Uber's service has been facing some tough critics in recent weeks. Despite negative coverage, Eileen Burbidge, partner at Passion Capital, says investors won¿t be put off, with Baidu potentially investing more money in the country.

  • UPDATE 1-Tesla says China unit head Wu resigns Friday, 12 Dec 2014 | 4:03 AM ET

    SHANGHAI, Dec 12- U.S. electric car maker Tesla Motors Inc said on Friday its China president, Veronica Wu, has resigned, without giving a reason for her departure. China's green vehicle market has attracted global players including Volkswagen AG, Nissan Motor Co Ltd and BMW. In August, the California- based company and mobile phone network operator China Unicom...

  • MEXICO CITY, Dec 11- General Motors will invest $5 billion in Mexico to double its production capacity at its plants around the country, Mexican Economy Minister Ildefonso Guajardo said on Thursday. The investment would be made through 2018, said Ernesto Hernandez, president and managing director for General Motors in Mexico. The investment will be directed...

  • Fiat Chrysler denies plans to expatriate Ferrari Thursday, 11 Dec 2014 | 1:34 PM ET

    MILAN— Carmaker Fiat Chrysler is denying rumors that Italian luxury sports carmaker Ferrari SpA is considering moving its tax home out of Italy as part of a spinoff. Fiat said in a statement Thursday that "these rumors have no grounds," and that Ferrari's activities "will continue to be subject to Italian tax jurisdiction." The newly merged Fiat Chrysler...

  • *Looking to raise 100- 150 mln stg in debt or equity-source. PARIS/ LONDON, Dec 11- Aston Martin is preparing to raise funds to expand its range of models into new areas including crossover SUVs, two sources with knowledge of the matter said, as the loss-making sports car maker steps up its turnaround efforts under a new boss. Aston Martin, James Bond's carmaker of...

  • Japan automakers expand passenger air bag recalls Thursday, 11 Dec 2014 | 2:44 AM ET

    TOKYO— Honda, Nissan and Mitsubishi announced more recalls for the same possibly defective Takata air bags that Toyota recalled earlier this month after one exploded during scrapping in Japan. Nissan Motor Co. said Thursday it's recalling the Presage, X-Trail and other models totaling 83,000 vehicles in Japan, some 6,000 in China, another 49,000 in Europe and...

  • TOKYO, Dec 11- Three Japanese automakers will recall more than half a million cars globally to replace air bag inflators made by Takata Corp, bringing the total tally of Takata- related recalls across all brands to around 20 million since 2008.. The recalls announced on Thursday by Honda Motor, Nissan Motor and Mitsubishi Motors correspond with a similar,...

  • Ferrari looks to burnish brand value ahead of IPO Thursday, 11 Dec 2014 | 1:11 AM ET

    MILAN— Ferrari's sleek sports cars and souped-up Formula 1 racing machines have made the prancing horse logo among the world's most powerful brands. The Made-in- Italy luxury goods sector is abuzz over whether Marchionne's ambition could facilitate the creation of an alliance of high-end producers, one that might stand up to the French conglomerates like...

  • Fiat Chrysler prices share offering at $11 each Thursday, 11 Dec 2014 | 12:09 AM ET

    Dec 11- Fiat Chrysler Automobiles NV said it had priced an offering of 87 million common shares at $11.00 each as the carmaker seeks funds to cut debt and pay for an ambitious investment plan. The mandatory convertible securities will be issued in denominations of $100 each and will be converted into FCA common shares on Dec. 15, 2016, it said.

  • The most popular luxury vehicle is... Wednesday, 10 Dec 2014 | 1:00 PM ET
    2015 Ford F-150

    TrueCar forecasts the latest pickups from Ford and Ram will be the most popular models sold among all vehicles with prices over $50,000.

  • GM's Opel to take control of German parts centers Wednesday, 10 Dec 2014 | 7:16 AM ET

    BERLIN— General Motors Co.' s Opel unit says it will take full control of two auto parts distribution centers in Germany that are currently operated by a joint-venture company in which Opel holds a 20 percent stake. Opel board member Peter Christian Kuespert said in a statement Wednesday the company has "made a decision to consider replacement parts logistics a...

  • UPDATE 1-BMW outsells Audi and Mercedes but lead narrows Wednesday, 10 Dec 2014 | 4:46 AM ET

    BERLIN, Dec 10- Carmaker BMW has racked up its highest-ever November sales, beating Audi and Mercedes-Benz, but the two German rivals remain on course to narrow BMW's lead in the global luxury car market. By comparison, Volkswagen's flagship Audi division sold 146,250 models, reporting an 11 percent gain on year-ago levels, while Daimler AG's Mercedes-Benz...

  • Tenn. governor questions UAW process at Volkswagen Tuesday, 9 Dec 2014 | 3:55 PM ET

    Bill Haslam, a longtime critic of the United Auto Workers' efforts to organize foreign automakers in the South, on Tuesday questioned the process by which the union qualified under a new labor policy at the Volkswagen plant in Tennessee. Haslam told The Associated Press after a Farm Bureau speech that he wants all major labor decisions at the Volkswagen plant in...

  • Dec 9- The United Auto Workers union said on Tuesday it will train workers at Volkswagen AG's plant in Chattanooga, Tennessee, in an effort to form a U.S. version of a German-style works council, while continuing to push for collective bargaining rights at the factory. Under a new agreement with the German company announced in November, unions that can prove...

  • DUBAI, Dec 9- Investment Dar, the Kuwaiti firm best-known for its stake in luxury carmaker Aston Martin, hopes to complete a second debt-for-assets deal with creditors by the end of March, it said in a bourse statement on Tuesday. The sharia-compliant firm said on Nov. 18 it had received the backing of a "significant majority of investors" for the proposal, which would...

  • Nissan is recalling the vehicles from model years 2012 through 2015 because fuel pressure sensors may not have been sufficiently tightened during production. A Nissan spokesman said there have been no reports of accidents or injuries related to the issue. Of the affected vehicles, about 233,000 are in Japan, 143,000 in North America, 22,500 in Europe, and...

  • Nissan recalls 470K vehicles for fuel leak problem Tuesday, 9 Dec 2014 | 8:31 AM ET

    DETROIT— Nissan is recalling about 470,000 cars and SUVs worldwide to fix a problem that can cause fuel leaks. That includes Nissan's Juke SUV from the 2012 through 2014 model years, and the Infiniti M56 and QX56 from 2012 and 2013. Also affected are Infiniti QX70 and QX80 SUVs from 2014 and 2015.. Other Nissan and Infiniti models are affected in Japan, North...

  • Dec 9- AutoZone Inc, the second-largest U.S. auto parts retailer, reported a higher-than-expected quarterly profit, helped by lower gas prices and colder-than-usual weather that encouraged customers to ready their cars for a harsh winter. AutoZone's shares rose 3.3 percent in premarket trading. AutoZone said on Tuesday sales were also helped by low gas...

  • Dec 9- AutoZone Inc, the second largest U.S. auto parts retailer, reported a higher-than-expected quarterly profit, helped by lower gas prices and colder-than-usual weather that encouraged customers to ready their cars for a harsh winter. Net income rose to $238.3 million, or $7.27 per share, in the first quarter ended Nov. 22 from $218.1 million, or $6.29 per share,...

  • AutoZone posts big 1Q as gas prices fall Tuesday, 9 Dec 2014 | 7:05 AM ET

    MEMPHIS, Tenn.— Falling gas prices and temperatures pushed Autozone beyond Wall Street's expectations during the first quarter as comparable-store sales jumped. The auto parts retailer posted a profit of $238.3 million, or $7.27 per share, which was well above the $7.18 per share that analysts had projected, according to a survey by Zacks Investment Research.