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PSA Bolsters Production Base in Iran
1/28/2016PSA Peugeot Citroen and Iranian carmaker Iran Khodro say they will invest €400 million ($439 million) to upgrade their 50-year-old assembly plant outside Tehran.
Study: Automatic Braking Cuts Rear-End Crashes 39%
1/28/2016Safety systems that automatically apply the brakes to avoid a collision can reduce rear-end crashes in the U.S. by 39%, according to the Insurance Institute for Highway Safety.
Ford’s Net Profit Jumps to $7.4 Billion
1/28/2016Ford Motor Co. reports net income of $7.4 billion in 2015 compared with $1.2 billion in 2014 in what it describes as a breakthrough year.
DeLorean Owner to Relaunch Low-Volume Production Next Year
1/28/2016Prompted by recent changes that relax the regulations for low-volume manufacturing, DeLorean Motor Co. plans to start making replicas of the iconic DeLorean DMC-12 sports car starting next year.
Federal Reserve Holds Rates Steady
1/28/2016The Federal Reserve, which last month raised its key lending rate to 0.25%-0.40%, opted on Wednesday to make no further change for now.
ZF to Open Global Electronics HQ Outside Detroit
1/28/2016ZF Friedrichshafen AG plans to open a 171,000-sq-ft global electronics headquarters for its ZF TRW unit in Farmington Hills, Mich., by June, Crain’s Detroit Business reports.
Chrysler’s Cash Could Lower FCA Financing Costs by €1 Billion
1/28/2016Fiat Chrysler Automobiles NV should be able to lower its borrowing costs by about €1 billion ($1.1 billion) in 2018 by tapping into Chrysler’s $13 billion (€11.9 billion) cash reserves.
EC Fines Two Japanese Suppliers for Price Fixing
1/27/2016The European Commission has levied a combined €138 million ($150 million) in fines against Hitachi Ltd. and Mitsubishi Electric Corp. for conspiring to fix prices on automotive electrical components in Europe between 2004 and 2010.
Porsche's 718s Get 4-Cylinder Power
1/27/2016Volkswagen AG’s Porsche unit is adding a new naming prefix to its Boxster and Cayman cars and fitting them with downsized 4-cylinder engines—the first Porsche four-bangers since 1995.
Chrysler Profit Sharing Per Hourly Worker Jumps to $4,000
1/27/2016Fiat Chrysler Automobiles NV says eligible United Auto Workers union members will receive profit sharing checks for as much as $4,000 each, based on the company’s performance in 2015.