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UAW, GM Reach Tentative Agreement
10/26/2015The United Auto Workers union says it reached tentative agreement on a four-year labor contract with General Motors Co. late Sunday.
VW Ponders Discounts in Germany for Owners of Its Cheater Diesels
10/26/2015Volkswagen AG is considering a plan to offer current owners in Germany a discount on a new car if they turn in one of the company’s older diesel-powered vehicles equipped with rogue software designed to cheat government emission standards, Germany’s DPA news agency reports.
Global Auto Outlook: Regional Volatility Is “Here to Stay”
10/26/2015The global auto industry will expand about 2.6% in 2016, as demand in such mature markets as Europe and the U.S. offset weak sales growth in emerging markets, according to presenters at LMC Automotive’s annual outlook conference in suburban Detroit.
UAW in Bid to Organize Skilled Trades at VW Plant
10/26/2015The United Auto Workers union is making another attempt to organize hourly workers—this time 165 skilled trades employees—at Volkswagen AG’s assembly plant in Chattanooga, Tenn.
China Cuts Interest Rates to Stimulate Economy
10/26/2015On Saturday the People’s Bank of China cut its benchmark interest rate by 0.25 point to 4.35% in a bid to accelerate the country’s economy.
Autoliv’s Third-Quarter Results Fall
10/26/2015Autoliv Inc. reports its net sales in the third quarter slipped 1% to $2.2 billion, operating income fell 10% to $158 million and net income shrank 7% to $99 million.
VW Suspends Its Head of Powertrain Electronics
10/26/2015Volkswagen AG has suspended Hanno Jelden, its head of powertrain electronics, on suspicion he helped develop and install software in 11 million diesel-powered vehicles that enabled them to cheat on government emission tests, according to media reports.
Lear Posts Record Operating Earnings in Third Quarter
10/26/2015Lear Corp.’s operating earnings in the third quarter surged 27% to a record $320 million as sales rose 2% to $4.3 billion.
No Management Promotions for VW Unit
10/26/2015Reports say Volkswagen AG has frozen management promotions at its VW units in 2016 to help save money to pay for the costs of addressing its diesel emission cheating scandal, company sources tell Manager Magazin.
VW Agrees to Review Safety Reporting Methods in U.S.
10/26/2015Volkswagen AG has agreed to review its “early warning reporting” of injuries and deaths related to vehicles it sells in the U.S.