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GM Readies Tennessee Plant to Make V-8 Engines
2/18/2016General Motors Co. says it is spending $148 million to prepare its plant in Spring Hill, Tenn., to make 6.2-liter V-8 engines for its large trucks and SUVs.
Volvo Triples Operating Profit
2/18/2016Volvo Cars Group reports its operating profit in 2015 tripled to 6.6 billion kronor ($778 million). Net income soared nearly ninefold to 4.5 billion kronor ($528 million).
OECD Cuts Global Economic Forecast
2/18/2016The world’s economic growth is slowing and needs “urgent policy response” to spur healthy expansion, says the Organization for Economic Cooperation and Development.
TI Automotive Buys Indiana Powertrain Supplier
2/18/2016TI Automotive LLC has acquired Millennium Industries Corp., a Ligonier, Ind.-based powertrain component supplier, for an undisclosed price.
New Lexus Hybrid System Adds 4-Speed Transmission
2/18/2016Toyota Motor Corp.’s Lexus arm is introducing a new hybrid-electric drivetrain this year on its all-new LC 500h sports coupe, which will be unveiled in two weeks at the Geneva auto show.
Takata May Trim Global Airbag Operations
2/18/2016Struggling Japanese airbag maker Takata Corp. is pondering a plan to sell noncore businesses, reduce its overseas workforce and consolidate its European airbag operations, sources tell Kyodo News.
Head of JCI’s Automotive Unit Leaves
2/18/2016Johnson Controls Inc. says in a regulatory filing that Beda Bolzenius, president of its automotive seating and interiors business, will leave the company by the end of March.
Toyota Recalls 2.9 Million RAV4 Crossovers for Seatbelt Fix
2/18/2016Toyota Motor Corp. is recalling 2.9 million of its RAV4 crossover vehicles worldwide, including 1.1 million units in the U.S., to fix second-row seatbelts that could fail in a crash.
Growth in U.S. Vehicle Deaths Soars to 50-Year High
2/17/2016Vehicle-related fatalities in the U.S. jumped 8% last year, the biggest year-on-year percentage increase in 50 years, according to the National Safety Council.
Proton Launches Its Largest Recall Ever
2/17/2016Malaysia’s largest carmaker, Proton Holdings Bhd, is recalling almost 95,000 vehicles in the country to replace oil cooler hoses that could degrade and leak.