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Automobiles and Components

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  • Outlook on autos: Pro   Tuesday, 28 Apr 2015 | 7:53 AM ET
    Outlook on autos: Pro

    Karl Brauer, Kelley Blue Book, weighs in on auto trends, Ford F-150 sales, and the yen's impact on Honda.

  • April 28- Sirius XM Holdings Inc raised its revenue and subscriber additions forecast for 2015 as strong U.S. auto sales drive an increase in customers for the satellite radio service. Sirius, which competes with music streaming services such as Pandora Media Inc and Spotify, said it now expects to add 1.4 million net new subscribers this year, up from its prior...

  • UPDATE 1-Truck maker Oshkosh's revenue falls 7.4 pct Tuesday, 28 Apr 2015 | 7:45 AM ET

    April 28- Specialty truckmaker Oshkosh Corp reported a 7.4 percent fall in quarterly revenue as lower spending by the U.S. government hurt sales of the company's medium and heavy tactical vehicles. The business also recorded an operating loss of $12 million, compared with an operating income of $34.5 million a year earlier. Net income available to Oshkosh's...

  • Truck maker Oshkosh's revenue falls 7.4 pct Tuesday, 28 Apr 2015 | 7:18 AM ET

    April 28- Specialty truckmaker Oshkosh Corp reported a 7.4 percent fall in quarterly revenue, hurt by lower sales in its defense business. Net income available to shareholders fell to $54.5 million, or 69 cents per share, in the second quarter ended March 31, from $71.2 million, or 83 cents per share, a year earlier. Total revenue fell to $1.55 billion from $1.68...

  • But the Dearborn automaker says the picture should improve as the year progresses, and it's still aiming for a full-year pretax profit of $8.5 to $9.5 billion, up from $6.3 billion in 2014.. First-quarter earnings of 23 cents per share compared with earnings of 25 cents per share in the same quarter a year ago. Revenue fell by 5 percent, or $2 billion, to $33.9 billion.

  • Last year's profit shortfall was due about half to quality-related costs and half to weaker sales in the United States and Japan, Honda Executive Vice President Tetsuo Iwamura told a briefing for reporters. Honda's sales have suffered in the United States, its biggest market, due to an aging product line-up and as cheaper fuel shifts demand towards large SUVs...

  • Last year's profit shortfall was due about half to quality-related costs and half to weaker sales in the United States and Japan, Honda Executive Vice President Tetsuo Iwamura told a briefing for reporters. All six deaths linked to Takata's inflators so far have been on Honda cars. Honda is also under pressure in the United States, its biggest market, as cheaper...

  • TOKYO— Honda's profit for the fiscal fourth quarter dropped 43 percent as the costs of air bag recalls offset the positives of a weak yen and strong vehicle sales in Asia. The Japanese automaker has been the hardest hit by a recall of air bags manufactured by Takata Corp. of Japan, which supplied air bags for a wide range of Honda models. The problems have tarnished...

  • Daimler Q1 earnings nearly double on new models Tuesday, 28 Apr 2015 | 2:36 AM ET

    FRANKFURT, Germany— German automaker Daimler saw net profit nearly double in the first quarter on strong demand across all major markets for its updated line of Mercedes-Benz luxury cars. Daimler grew sales across all its major markets as the global auto sales market continues to expand, led by the United States and China. Shares in the Stuttgart- based...

  • Honda is adopting international financial reporting standards from this year, and expects the same net profit under those standards. Honda delayed the launch of new cars last year as it took more time on quality controls, after recalling the remodelled Fit hybrid car five times in less than a year in Japan. For the final January-March quarter of the last...

  • The shock departure of Piech, a dominant figure at VW for over two decades, leaves IG Metall's former national leader Berthold Huber as acting chairman of Europe's biggest carmaker. At Deutsche Bank, opposition from the Verdi union to a wholesale disposal of the lender's retail operations helped convince co-CEOs Anshu Jain and Juergen Fitschen to ditch their...

  • GM ignition switch death toll rises to 90 Monday, 27 Apr 2015 | 11:03 AM ET

    DETROIT— Families of at least 90 people killed in crashes caused by defective General Motors ignition switches will get compensation from the automaker. Attorney Kenneth Feinberg, who was hired by GM to compensate victims, updated the total Monday. The fund received 4,342 claims by the Jan. 31 deadline. Twenty-three percent are still under review.

  • JCI CEO: Shift to new model   Monday, 27 Apr 2015 | 8:17 AM ET
    JCI CEO: Shift to new model

    Alex Molinaroli, Johnson Controls CEO, talks about transforming his company from primarily an automotive company to a multi-industrial.

  • China automakers must improve brand: Pro   Sunday, 26 Apr 2015 | 6:21 PM ET
    China automakers must improve brand: Pro

    Geoff Broderick, VP & GM of J.D. Power Asia Pacific, warns Chinese automakers must improve their brand in developed markets like the U.S. and Western Europe.

  • Volvo sells made-in-China cars to US   Sunday, 26 Apr 2015 | 6:18 PM ET
    Geely sells made-in-China cars to US

    Chinese auto company Zhejiang Geely Holdings is beginning production of the Volvo S60 at its Chengdu factory to be exported to the U.S. next month.

  • FRANKFURT, April 26- Ferdinand Piech's iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40- tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world's biggest carmaker. Piech took the reins at VW's Audi in 1988 before he joined the parent company and...

  • HAMBURG/ FRANKFURT, April 25- Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown he had provoked with Chief Executive Martin Winterkorn, ending an era at the iconic German carmaker. Piech, the 78- year-old grandson of the inventor of the Volkswagen Beetle Ferdinand Porsche, had...

  • HAMBURG/ FRANKFURT, April 25- Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown with Chief Executive Martin Winterkorn, ending an era at the iconic German carmaker. Piech, the 78- year-old grandson of the inventor of the Volkswagen Beetle, had previously seen off other...

  • Volkswagen chairman Piech resigns after dispute over CEO Saturday, 25 Apr 2015 | 12:38 PM ET

    FRANKFURT, Germany— Ferdinand Piech, chairman of the board of Volkswagen AG and a major figure in the German auto industry, has stepped down after clashing with other board members over his criticism of the company's CEO. Piech had said in an interview with Der Spiegel published earlier this month that he was distancing himself from CEO Martin Winterkorn.

  • DETROIT, April 24- Ford Motor Co said on Friday it is recalling about 390,000 Ford Fiesta and Fusion and Lincoln MKZ models in North America because of a potential door latch malfunction. Affected vehicles were produced at Ford plants in Mexico, including the 2012-2014 Fiesta, the 2013-2014 Fusion and the 2013-2014 Lincoln MKZ. About 86 percent of the recalled...