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FCA Raises Outlook on Record Third-Quarter Results
10/25/2016Fiat Chrysler Automobiles NV’s unit sales in the third quarter slipped 1% to 1.12 million vehicles, and revenue was flat at €26.8 billion ($29.2 billion). But the company’s adjusted net profit tripled to €740 million ($804 million).
U.S. Judge Approves VW’s $14.7 Billion Diesel Settlement
10/25/2016U.S. District Court Judge Charles Breyer has approved Volkswagen AG’s $14.7 billion agreement to settle claims over 475,000 vehicles powered by 4-cylinder diesel engines that were rigged to evade emission standards.
GM Doubles Third-Quarter Net Income
10/25/2016General Motors Co. reports its net income in July-September doubled to a record $2.8 billion. Revenue rose 10% to $42.8 billion, marking the company’s best quarter since it emerged from bankruptcy seven years ago.
Hyundai Execs Asked to Take 10% Pay Cuts
10/25/2016Hyundai Motor Group is asking 1,000 of its executives to accept a 10% pay cut beginning this month as the company prepares to report another quarter of slumping sales and profits.
Partners Plan Contest to Develop Self-Driving Car
10/25/2016Udacity Inc., a Silicon Valley-based online education provider, is partnering with Tier IV Inc., a Nagoya, Japan-based developer of autonomous vehicle control software, to tap ideas from the public to create its own self-driving vehicle.
Carmakers Gather to Ponder Takata’s Fate
10/25/2016Major carmakers will be meeting in New York City today and Wednesday to ponder Takata Corp.’s plan to find an outside investor that can shepherd the company through its airbag inflator crisis.
NHTSA Offers New Cybersecurity Guidelines
10/25/2016The U.S. has issued new, nonbinding guidelines for the auto industry to help guide its approach to cybersecurity.
Diesel Sales in Europe to Dip Below 50%
10/24/2016Demand for diesel-powered cars in Europe will slip below 50% this year for the first time since 2009, predicts LMC Automotive.
Maserati Moves Alfieri Launch to Back Burner
10/24/2016Fiat Chrysler Automobiles NV’s Maserati unit is delaying the launch of its Alfieri sports car again, Autocar reports.
2017 VW Golf Puts Interior on Display
10/24/2016Volkswagen AG is giving its Golf small car a minor exterior facelift and upgraded interior for 2017 before an all-new model debuts in 2019.