Automotive News (88)

Honda says Florida crash death could be linked to Takata inflator

Honda said a Takata airbag inflator ruptured in car crash last week in Florida, in what could be the 19th death worldwide linked to the supplier's faulty airbags.

BorgWarner Q2 net income up 29 percent

BorgWarner reported a 29 percent jump in net income for the second quarter, to $212 million, thanks in part to growth in its sales of drivetrains in China.

2018 Chevrolet Traverse will start at $30,875

The 2018 Chevrolet Traverse will start at $30,875 including shipping, Chevy said Thursday, $1,280 more than the 2017 model.

Marchionne expresses 'disgust' over FCA-UAW executive conspiracy

FCA CEO Sergio Marchionne expressed "disgust" over an alleged multimillion-dollar conspiracy involving the company's former labor-relations chief, Alphons Iacobelli.

Rolls-Royce taps art world to raise custom game with new Phantom

Rolls-Royce Motor Cars is ramping up the personalization options on the redesigned and re-engineered Phantom flagship limousine to allow owners to embed bespoke artwork behind glass in the dashboard.

Feds seize $125,000 worth of pot in rail cars carrying imported Fords

For the second time this month, Ford vehicles imported to the U.S. from Mexico were found being shipped with marijuana.

Ford's ride-share unit Chariot expands to New York

Ford said that Chariot, the San Francisco-based shuttle service it acquired last year, will soon expand to New York.

U.S. approves fix for more than 300,000 VW diesels

The fix will include hardware and software upgrades, including replacing an emissions catalyst but will reduce vehicle fuel economy ratings by as much as 2 miles per gallon, VW said.

House committee approves self-driving legislation, refines safety exemptions

The House Energy and Commerce Committee unanimously approved bipartisan legislation that would for the first time govern the manufacturing, testing and deployment of autonomous vehicles.

Penske Automotive says Q2 net income rises 14 percent

Penske Automotive reported a 14 percent gain in second-quarter net income, crediting increased business in used-vehicle sales, service and parts and finance and insurance.

Ford recalls 117,000 vehicles for risk of seat belt failure

Ford is recalling nearly 117,000 vehicles because bolts in the seat, seat belt or seat belt buckle may fracture.

Group 1 Q2 net falls 16% on energy markets

Group 1 said its second-quarter net income fell 16 percent on weakness in US markets impacted by low energy prices, particularly in Houston.

Maserati spearheads FCA's push to electrified vehicles

FCA plans for more than half of its lineup to be electrified by 2022, including all Maserati models following 2019, according to CEO Sergio Marchionne.

U.S. upgrades probe into 1.33 million Ford Explorers over exhaust odors

NHTSA is upgrading a probe into 1.33 million Ford Explorer SUVs over reports of exhaust odors in vehicle compartments and exposure to carbon monoxide that may be linked to crashes and injuries.

U.S. likely to approve FCA's 2017 diesels, report says

U.S. and California regulators are expected to approve FCA's request to sell 2017 diesel vehicles, two sources told Reuters.

Ally Financial chased margin, not volume, in Q2

Ally Financial's results took a hit in the second quarter from several factors, starting with lower originations, as the lender continued its strategy to pass up volume in favor of higher margins.

FCA Q2 operating profit rises 15%

Fiat Chrysler's second-quarter operating profit rose 15 percent to $2.19 billion, despite roughly flat shipments and revenue. FCA was able to do so with higher margins in North America and gains at Maserati.

KKR to acquire auto assets from S. Korea's LS Group for $943 million

Corporate buyout firm KKR said it agreed to buy auto parts and materials businesses from South Korea's LS Group for 1.05 trillion won .

Nissan posts 13% drop in Q1 profit on higher expenses, incentives

Nissan posted a 13 percent drop in quarterly operating profit, as a rise in marketing and selling expenses, including incentives, offset a rise in global vehicle sales.

U.S. House votes to kill CFPB rule barring mandatory arbitration in lending disputes

The House voted 231 to 190 along strict party lines to kill a CFPB rule barring financial institutions from forcing customers to agree to take future disputes to arbitration.

For GM and Ford, home is where the profits are

North America is increasingly where the earnings are for Detroit's biggest automakers. But that's a source of heartburn as U.S. sales stall after seven straight years of growth.

Ford profit edges up on lower tax rate

Foreign tax credits helped Ford's second-quarter net income rise 3.7 percent to $2.04 billion, but the automaker reduced its pretax profit outlook for the rest of the year amid declining U.S. sales.

Ex-Chrysler exec, widow of UAW VP charged with conspiracy

A U.S. grand jury in Detroit charged former FCA labor chief Alphons Iacobelli and the widow of a deceased UAW vice president in a broad conspiracy to pocket illegal money and gifts.

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Former UAW President Bob King attempted to investigate the spending and actions of the Vice President General Holiefield and FCA executive Alphons Iacobelli during his tenure leading the union.

UAW hires outside counsel to lead internal investigation

UAW President Dennis Williams said independent, outside counsel would lead an internal investigation into allegations that union officials were illegally funneled $1.2 million by FCA's former labor chief.

Holiefield, future wife received $1.2 million from worker training funds, indictment says

While the UAW's General Holiefield negotiated with FCA at the bargaining table, he and his future wife were living luxuriously with money that was supposed to help train workers, prosecutors charged.

Lear Q2 net rises 10% to $312 million

Lear posted a 10 percent increase in profit for the second quarter from growth in seating revenue and higher margins. The supplier reported net income of $311.9 million.

N.Y. weighs #39;textalyzer' to combat distracted driving

Imagine a Breathalyzer, but instead of measuring your blood-alcohol level, it measures your cellphone activity while behind the wheel.

Mercedes showcases its pickup

Mercedes-Benz has finally added a pickup to its lineup and people have taken notice.

U.S. House votes to kill CFPB rule barring mandatory arbitration in lending disputes

The U.S. House voted 231 to 190 along strict party lines to kill a CFPB rule barring financial institutions from forcing customers to agree to take future disputes to arbitration, instead of the courts, as a condition of opening accounts.

Uber lawyers should be booted after aiding cover-up, Waymo says

Waymo claims Uber had an accomplice in the theft of invaluable driverless technology trade secrets -- the ride-hailing giant's own lawyers.

Porsche repeats as most appealing brand, Power says

Luxury brands again dominate the top spots in J.D. Power's latest study of new-vehicle appeal. Genesis debuted at No. 2, followed by BMW, Audi and Mercedes-Benz in the top five.

Ford profit edges up on lower tax rate

Ford posted second-quarter net income of $2.04 billion, up 3.7 percent from the same period a year ago because of a favorable tax rate. Revenue rose slightly to $39.85 billion.

Hyundai faces weak outlook as U.S., China woes persist, dent Q2 results

Hyundai posted its smallest quarterly net profit in five years, falling dismally short of estimates, and warned the second half of 2017 would be challenging as political headwinds hit sales in China and slow U.S. demand continues.

Tesla Model S regains top safety rating with software update, Consumer Reports says

Tesla provided an over-the-air update in July to its software on the Model S to include automatic emergency braking at highway speeds.

Mary Barra: GM launching over-the-air updates 'before 2020'

GM CEO Mary Barra said the company plans to launch a new electrical vehicle architecture and infotainment system capable of over-the-air updates "before 2020."

Asbury Automotive exits its used-only operations

Asbury Automotive is closing its remaining Q auto stand-alone used-car stores to redirect investments that will deliver better returns.

GM Q2 net drops 42% on Europe restructuring

The discipline that helped GM beat Wall Street expectations for nine consecutive quarters will be put to the test in the coming months because several of its most profitable plants will temporarily close for retooling.

Asbury's Q2 net drops 13% to $32 million

Asbury Automotive's second-quarter net income dropped 13 percent to $31.9 million on lower profit margins per new and used vehicles sold.

Israeli settles Mobileye insider trading case with U.S. regulators

An Israeli professor has agreed to pay more than $850,000 to settle U.S. claims he engaged in insider trading in Jerusalem-based Mobileye before its takeover by Intel.

Subaru sets modest price hike for '18 Impreza

Subaru's fifth-generation Impreza is off to a strong start in the U.S. after a redesign last year, and the automaker isn't changing the starting price much for the 2018 model.

Musk says Facebook's Zuckerberg naive about AI

Elon Musk insulted rival billionaire Mark Zuckerberg on Tuesday, escalating a tech wizard war of words over whether robots will become smart enough to kill their human creators.

U.S. may revise 2021 fuel efficiency standards, freeze targets

The Transportation Department said it may revise auto fuel efficiency requirements starting with the 2021 model year, a year earlier than previously disclosed, and could adopt lower standards through 2025.

BMW's Willisch to retire Aug. 1 as Americas chief

After 21 years with BMW, including six in the U.S., Ludwig Willisch will retire as the company's Americas chief as of Aug. 1. The retirement of Willisch, 61, had been expected.

VW exec Oliver Schmidt expected to plead guilty in emissions cheating case

Oliver Schmidt, one of the eight VW executives charged in the automaker's diesel emissions scandal, plans to plead guilty on August 4 in U.S. District Court in Detroit, a court spokesman said.

5 questions with Mercedes' director of randd

Ola Kaellenius, head of randd at Mercedes-Benz Cars, sat down with reporters at the launch of the updated S class and covered topics ranging from the return of the Mercedes inline-six to robot taxis to the coming of autonomy to the staying power of...

Like it or not, signs signal change for auto retail

Car dealers need to prepare for a new way of selling as consumers may not desire car ownership in the future.

U.S. may revise 2021 fuel efficiency standards

The Transportation Department said it may revise the 2021 model year fuel efficiency requirements as it reviews the Obama administration's emissions rules a year earlier than previously disclosed.

GM Q2 net drops 42% on Europe restructuring

General Motors said its net income dropped 42 percent to $1.66 billion in the second quarter, primarily because of the pending sale and restructuring of its European operations.

Tesla buyers antsy for Model 3 keys months after $1,000 deposit

Thousands of Tesla Model 3 reservation holders are in limbo, with deposits paid but little clarity about the status of their car -- when they'll get it or what they'll pay.