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Autoliv Posts Record Sales as Profits Drop 22%
2/3/2017Autoliv Inc.'s revenue in October-December rose 3% to a record $2.6 billion. But quarterly net income for the Swedish airbag supplier slid 22% to $144 million, and operating income dropped 15% to $239 million.
Tata Streamlines Platforms, Launches Tech Incubator
2/2/2017Tata Motors Ltd. says it will shrink the number of passenger vehicle platforms it uses from six to two by 2018 as it rolls out at least seven new product variants over the next two years.
Delphi’s 4Q Income Jumps 47%
2/2/2017Net income for Delphi Automotive plc’s continuing operations climbed to $281 million in the final quarter last year from $192 million in the same period of 2015.
BMW Names New CEO for N. America
2/2/2017BMW AG has appointed Bernhard Kuhnt to take over as CEO of North American operations on March 1.
Daimler Expects Earnings to Slow
2/2/2017Daimler AG anticipates only “slight” growth in earning this year as it further ramps up spending to develop advanced technologies.
Next-Gen McLaren Lets Drivers Get Their Drift
2/2/2017McLaren Automotive Ltd. says its second-generation Super Series model will feature an improved active chassis control system that will provide the best “dynamic ability” of any vehicle the supercar maker has offered.
Ferrari’s Profit Surges 83%
2/2/2017Ferrari NV’s adjusted net profit in October-December jumped 83% to €130 million ($141 million). Unit sales rose 4% to 1,900 supercars, and revenue climbed 12% to €836 million ($905 million).
Valeo to Expand Michigan Operations
2/2/2017Valeo SA plans to hire 290 people and invest about $5 million to upgrade and build new facilities in Michigan.
RideCell Expands Globally
2/2/2017San Francisco-based RideCell Inc., which develops smartphone apps for mobility services, plans to nearly double its staff to more than 100 people in coming months as it expands to Europe and Asia.
Marchionne Confirms Alfa Platform-Sharing Strategy
2/2/2017Fiat Chrysler Automobiles NV plans to use Alfa Romeo’s new rear-wheel-drive Giorgio platform for future Dodge, Jeep and Maserati vehicles too.