Latest Automobile parts manufacturing News

BMW profits drop on higher costs, spending for new tech

Aug. 1, 2019 6:56 AM EDT

FRANKFURT, Germany (AP) — Luxury automaker BMW said Thursday that net profit fell 29% to 1.48 billion euros ($1.63 billion) in the second quarter from a year earlier, as profits were reduced by higher spending on revamping factories and on new technologies such as battery-only cars and smartphone-based...

Automaker Daimler loses $1.3 billion on diesel, air bag woes

Jul. 24, 2019 7:41 AM EDT

FRANKFURT, Germany (AP) — Daimler AG, the maker of Mercedes-Benz luxury cars, says it lost 1.2 billion euros ($1.3 billion) in the second quarter as the company booked 4.2 billion euros in one-time charges for troubles with diesel vehicles and air bag recalls. The quarterly loss reported Wednesday was the...

Volvo recalls some 500,000 vehicles due faulty engine part

Jul. 22, 2019 9:58 AM EDT

HELSINKI (AP) — Volvo Cars is recalling about half a million cars worldwide because of a faulty engine component that may in extreme cases cause a vehicle to catch a fire. The Swedish carmaker said Monday the affected cars are two-liter, four-cylinder diesel engines manufactured between 2014 and 2019 in...

AP FACT CHECK: Trump, Harris both wrong about auto sector

Jul. 19, 2019 2:16 PM EDT

DETROIT (AP) — Renaissance or ruin? Americans are being presented with two starkly different accounts of the state of the auto industry, one from President Donald Trump and the other from California Sen. Kamala Harris, a Democratic presidential candidate. Neither is accurate. Trump claims to be a one-man...

Automaker BMW names production chief Zipse as new CEO

Jul. 18, 2019 3:58 PM EDT

FRANKFURT, Germany (AP) — BMW has named its top production manager, Oliver Zipse, as CEO to lead the luxury automaker through a shift to new ways of doing business such as electric vehicles and offering cars on a per-use basis. The company said Thursday that Zipse, 55, would succeed Harald Krueger on Aug....

Canadians set to extract Arkansas lithium from saltwater sea

Jul. 15, 2019 1:06 AM EDT

LITTLE ROCK, Ark. (AP) — Robert Mintak's pipe dream is now in the pipeline. The Canadian's company, Standard Lithium Ltd., broke ground last week on a pilot plant in El Dorado, a key step toward a unique vision of pulling battery-grade lithium from a saltwater sea beneath south Arkansas. The plant will...

For Formula E teams, winning is almost secondary

Jul. 14, 2019 12:14 PM EDT

Sure, Formula E teams want to win and make money. That's a given. The big automobile manufacturers who fund the open-wheel electric cars that whir around tracks all over the world also have a bigger goal in mind: research and development. Brand named automakers — from BMW to Audi to Jaguar — compete...

Daimler warns of profits snag from diesel, airbag recall

Jul. 12, 2019 7:11 AM EDT

BERLIN (AP) — German automaker Daimler expects pretax profits this year to be significantly lower than 2018, after setting aside more money to tackle the fallout from its diesel emissions problems and an airbag recall. Friday's announcement drove down Daimler shares, which were 1.1% lower at 46.52 euros...

Honda to recall 1.6M vehicles, finish Takata recalls early

Jun. 28, 2019 11:47 AM EDT

DETROIT (AP) — Honda is recalling 1.6 million vehicles in the U.S. to replace potentially deadly Takata air bag inflators, completing its required recalls six months ahead of schedule, the automaker said Friday. When the latest recall is done, Honda says it will have recalled or accounted for 22.6 million...

Tesla says Shanghai car fire caused by failed battery module

Jun. 28, 2019 11:20 AM EDT

BEIJING (AP) — Tesla says a fire in one of its cars in Shanghai was caused by the failure of a single battery module and investigators found no defects in the car's systems. The electric car maker said Friday on its social media account that a joint team examined the battery, software, manufacturing...