Latest Automobile manufacturing News

Daimler profit sinks on diesel; outlook for year lowered

Oct. 19, 2018 12:00 PM EDT

FRANKFURT, Germany (AP) — German automaker Daimler lowered its profit outlook for the second time this year on Friday and reported reduced third-quarter profits due to regulatory and diesel emissions issues. The company said its group operating profit would be "significantly below" last year's, instead of...

Volkswagen offers more incentives to unload old diesels

Oct. 18, 2018 4:16 AM EDT

FRANKFURT, Germany (AP) — German automaker Volkswagen says it is offering more incentives to trade in older diesel models in an effort to improve air quality. The company said Thursday it would offer trade-in incentives for people who want to replace old diesels that met formerly looser emissions...

Asia shares sag after retreat on Wall St, weaker Japan data

Oct. 18, 2018 12:11 AM EDT

BANGKOK (AP) — Shares fell Thursday in Asia after a retreat on Wall Street driven by sell-offs of technology shares, homebuilders and retailers. A report of weaker Japanese exports in September underscored uncertainties over the outlook for trade. KEEPING SCORE: Japan's Nikkei 225 index sank 0.7 percent to...

Lawmakers ask Kia and Hyundai to testify on reports of fires

Oct. 17, 2018 5:41 PM EDT

WASHINGTON (AP) — A Senate committee is asking executives of auto makers Kia and Hyundai to testify next month about fire risk in their vehicles. The request comes as a safety group demands the recall of 2.9 million Kia and Hyundai cars and SUVs in the U.S. because of consumer complaints that they can...

PulteGroup, IBM and Fiat Chrysler fall while Netflix climbs

Oct. 17, 2018 4:36 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday: PulteGroup Inc., down 80 cents to $22.82 Homebuilders fell after the Commerce Department said construction of new homes fell in September. Netflix Inc., up $18.30 to $364.70 The streaming video company said it gained more new...

Tesla secures land in Shanghai for first factory outside US

Oct. 17, 2018 12:10 PM EDT

BEIJING (AP) — Electric auto brand Tesla Inc. said it signed an agreement Wednesday to secure land in Shanghai for its first factory outside the United States, pushing ahead with development despite mounting U.S.-Chinese trade tensions. Tesla, based on Palo Alto, California, announced plans for the...

Stocks head lower, giving back some of a big rally

Oct. 17, 2018 11:40 AM EDT

NEW YORK (AP) — U.S. stocks are falling Wednesday after their biggest gain in more than six months. Homebuilders are sinking after the Commerce Department said construction of new homes dropped in September, and retailers are also sharply lower. IBM tumbled after it announced disappointing quarterly...

Report: Uber IPO could put company value at $120 billion

Oct. 16, 2018 1:36 PM EDT

NEW YORK (AP) — Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion, according to a media report. The Wall Street Journal said Tuesday that Uber Technologies Inc. received valuation proposals from Goldman Sachs and Morgan Stanley....

Audi fined $925 million in Germany over diesel emissions

Oct. 16, 2018 8:36 AM EDT

FRANKFURT, Germany (AP) — German law enforcement authorities added another chapter to Volkswagen's diesel scandal Tuesday by fining the company's luxury division Audi 800 million euros ($925 million) for selling cars rigged to cheat on emissions tests. Prosecutors in Munich said Tuesday that the fine was...

Amnesty criticizes France over arms exports to Egypt

Oct. 16, 2018 5:25 AM EDT

CAIRO (AP) — Amnesty International criticized the French government on Tuesday and accused it of breaking its own rules over arms exports to Egypt, which the watchdog said have been used for the internal repression of civilians. Fresh analysis of open-source multimedia content showed "Egyptian security...