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Automobiles and Components

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  • 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.

  • Chrysler plans $266M spending for Indiana plants Tuesday, 9 Dec 2014 | 6:29 AM ET

    The company's plans include expanding production of the eight-speed automatic transmissions built at the Kokomo factories, the Kokomo Tribune reported. The latest investment will boost Chrysler's spending on its five Kokomo- area factories to nearly $1.9 billion since its 2009 bankruptcy. The automaker has more than 7,000 workers at its facilities in...

  • *BMW production chief to succeed Reithofer as CEO. FRANKFURT/ BERLIN, Dec 9- In a surprise move, BMW said on Tuesday its long-time chief executive Norbert Reithofer would step down in May, one year early, and hand the reins of the Munich- based luxury carmaker to 49- year-old production chief Harald Krueger. Reithofer has run BMW since 2006 and is 58. The company said he...

  • BMW gets new CEO; another BMW exec bails for VW Tuesday, 9 Dec 2014 | 5:00 AM ET

    The biggest news: Luxury carmaker BMW AG said its chief executive, Norbert Reithofer, was leaving his post to become board chairman. Volkswagen poached a top BMW executive— who was immediately seen as a potential successor to VW boss Martin Winterkorn. —Reithofer will become chairman of the board of directors at BMW's shareholder meeting on May 13.

  • BMW CEO Reithofer to step down early in 2015 Tuesday, 9 Dec 2014 | 4:28 AM ET

    BERLIN, Dec 9- Norbert Reithofer will step down early as chief executive of German carmaker BMW in May of next year and be replaced by Harald Krueger, the company's 49- year old production chief. The Munich- based carmaker announced the surprise changes in a statement on Tuesday. Reithofer, who has run BMW since 2006, is slated to succeed Joachim Milberg as chairman...

  • *Honda adds 2.6 mln cars in U.S. expansion of Takata recalls. TOKYO, Dec 9- Honda Motor said it will expand an' investigative' recall to replace potentially lethal Takata Corp air bag inflators across the globe, taking the total Takata- related recall tally of all brands to more than 19 million since 2008.. Given Takata's response, Honda's U.S. unit said on Monday it...

  • TOKYO, Dec 9- Honda Motor Co will expand an investigative recall of vehicles with air bag inflators made by Takata Corp globally, a person familiar with the matter said.

  • Luxury car sales pick up speed  Monday, 8 Dec 2014 | 4:15 PM ET

    CNBC's Phil LeBeau reports the auto industry will be selling more than 1 million vehicles with average transaction price greater than $50,000 this year. Fred Hassan, Warburg Pincus Partners, says confidence from the middle class is very good news.

  • Honda adds 2.6M vehicles to air bag repair list Monday, 8 Dec 2014 | 2:13 PM ET

    DETROIT— Honda plans to replace the replace driver's air bag inflators on 2.6 million more vehicles as it expands repairs to the entire U.S. Honda says it's doing so to address customer concerns. Honda and other automakers have limited recalls to high-humidity states mainly along the Gulf Coast.

  • *Five-seat concept crossover to feature at Detroit- sources. BERLIN, Dec 8- Volkswagen will present a sport-utility concept vehicle in the United States next month, intended to increase its range in the lucrative crossover segment and boost sales in the world's second-biggest car market, company sources said. A five-seat variant of the seven-passenger SUV the...

  • Tesla in category of its own: Analyst  Monday, 8 Dec 2014 | 7:54 AM ET

    Ben Kallo, R.W. Baird senior research analyst, explains why the drop in oil prices is not likely to impact Tesla sales.

  • Hottest selling cars? $50,000 and up  Monday, 8 Dec 2014 | 7:48 AM ET

    Automakers are on track to sell one million high-end cars this year. CNBC's Phil LeBeau breaks down which expensive models customers are buying.

  • MOSCOW, Dec 8- A state scheme to support local car sales and a rush to buy before expected price increases slowed falls in auto sales in Russia to 1.1 percent year-on-year in November from 9.9 percent a month earlier, a lobby group said on Monday. The Association of European Businesses lobby group said 229,439 new cars and light commercial vehicles were sold in...

  • Americans on verge of buying 1M expensive cars Monday, 8 Dec 2014 | 1:43 AM ET

    In the latest sign Americans are comfortable paying more for what they'll drive, the country is on the cusp of major milestone.