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Automobiles and Components

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  • Small, midsize SUVs drive April US auto sales gains Friday, 1 May 2015 | 8:29 AM ET

    A big drop in gas prices, to an average of $2.60 a gallon from $3.69 a year ago, also works in favor of SUVs. The Equinox posted a 42 percent sales increase to almost 29,000 in April, while Cruze sales fell nearly 4 percent to just under 21,000. Both vehicles are made by General Motors. Honda's CR-V, the top-selling SUV, posted a 3 percent gain to more than 29,000,...

  • *France wants Renault to stay in control of alliance. PARIS, April 30- The French government's move to tighten its hold on Renault, crowned by a rare public defeat for CEO Carlos Ghosn on Thursday, has exposed competing visions for the carmaker and its alliance with Nissan. Ghosn must now decide whether to fight or negotiate for closer Renault-Nissan integration,...

  • Tesla hunts for new revenue in home storage batteries Thursday, 30 Apr 2015 | 2:48 PM ET

    LOS ANGELES, April 30- Tesla Motors Inc shares slipped Thursday after a month-long surge ahead of Chief Executive Elon Musk's expected announcement that the money-losing electric luxury car maker will seek new revenues from batteries for storing electricity at homes and businesses. Musk and other Tesla officials have dropped a series of broad hints over...

  • *France wants Renault to stay in control of alliance. PARIS, April 30- The French government's move to tighten its hold on Renault, crowned by a rare public defeat for CEO Carlos Ghosn on Thursday, has exposed competing visions for the carmaker and its alliance with Nissan. Ghosn must now decide whether to fight or negotiate for closer Renault-Nissan integration,...

  • Elon Musk to announce new charge   Thursday, 30 Apr 2015 | 2:03 PM ET
    Elon Musk

    Tesla CEO Elon Musk will make a battery announcement Thursday night. CNBC's Phil LeBeau shares a preview of the new battery plan.

  • BERLIN, April 30- Volkswagen and newly departed chairman Ferdinand Piech clashed again on Thursday over supervisory board appointments, causing new strains at the carmaker ahead of what is likely to become a tense shareholder meeting next Tuesday. Europe's largest automaker on Thursday sought to regain the initiative by appointing two members of the Piech...

  • 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...