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Schaeffler’s Auto Unit Hikes Earnings 3%
8/20/2015Strong sales to the auto industry helped Germany bearing supplier Schaeffler Group hike revenue 12% to €6.7 billion or 4.9% when corrected for currency fluctuations in the first half of 2015.
U.K. Car Production Drops 11%
8/20/2015New-vehicle production in the U.K. dropped 11% to 117,700 units in July as holiday patterns caused the traditional summer shutdown period to begin earlier this year, the Society of Motor Manufacturers and Traders reports.
Renault-Nissan Plan Big Job Cuts in India
8/20/2015The Renault-Nissan Alliance intends to cut production 50% at its assembly plant outside Chennai, India, and eliminate as many as 3,000 jobs in the country, according to The Economic Times.
Caddy Diesels Headed for the U.S.
8/20/2015General Motors Co.'s Cadillac unit will offer diesel-powered models in the U.S. early next decade, Automotive News reports.
Suzuki Plans 20 New Models in Three Years
8/20/2015Minicar specialist Suzuki Motor Corp. plans to move upmarket in Japan with 20 new models by fiscal 2019 15 of them larger and more profitable subcompact vehicles.
Toyota Resumes Demand for Price Cuts from Suppliers
8/20/2015Toyota Motor Corp. which hasn't asked its suppliers for price cuts in nearly a year is likely to request discounts between 0.5% and 1%, effective in October, The Nikkei says.
Tesla Stock Sale Garners $738 Million
8/20/2015Tesla Motors Inc. says in a regulatory filing it has sold 3.1 million in new shares at $242 each, generating some $738 million as it readies its Model X electric crossover for launch this autumn.
U.S. Inflation Rises 0.1%
8/20/2015The U.S. consumer price index rose by a seasonally adjusted 0.1% in July, according to the Bureau of Labor Statistics.
Volvo Cars Posts Big Profit Gain
8/19/2015Volvo Car Group reports its operating profit in the first half of 2015 surged 71% to 1.7 billion kronor (€175 million). Revenue in January-June grew 12% to 75 billion kronor (€7.9 billion), and deliveries advanced 1% to 232,300 units.
GM’s Oshawa Plant Gets Another Extension
8/19/2015General Motors Co. says it will continue to operate its assembly line in Oshawa, Ontario, to 2017.