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Rail Car Shortage Slows New-Car Deliveries
4/24/2014A rough winter, a shrinking rail car fleet and shifting production patterns across North America have slowed the movement of new vehicles to U.S. dealerships, The Wall Street Journal reports.
Hyundai’s Net Profit Slips
4/24/2014South Korea's Hyundai Motor Co. earned a net profit of 2.03 trillion won ($2 billion) in the first quarter of 2014, down 3% from the same period last year.
Showa Pleads Guilty to Price Fixing
4/24/2014Showa Corp., a Japanese supplier of electric power steering systems, has agreed to plead guilty to a felony charge of price fixing and pay a $20 million criminal fine, the U.S.
J.D. Power Buys Online-Offline Shopping Research Firm
4/24/2014J.D. Power and Associates is buying Korrelate Inc., an Orlando, Fla.-based firm that analyzes the connection between online shopping and offline buying. Terms were not disclosed.
More Shareholders Reject VW's Bid for Scania
4/23/2014Volkswagen AG's bid to acquire all of commercial truckmaker Scania AB is running into increasingly strong headwinds, Bloomberg News reports.
Michelin’s Quarterly Revenue Slips 2%
4/23/2014Tiremaker Michelin & Cie. reports its unit sales grew more than 3% in the first quarter of 2014 compared with the same period last year, thanks to rising car production and growth in demand for truck tires.
Fisker Aims to Relaunch Karma Hybrid Next Year
4/23/2014The Chinese owner of bankrupt Fisker Automotive Inc. intends to resume production of the company's Karma hybrid sedan in mid-2015 but perhaps under a new brand name, The Detroit News reports.
Toyota Outsells GM in First Quarter
4/23/2014Toyota reports global sales of 2.58 million vehicles in January-March 2014, outpacing General Motors (2.42 million) and Volkswagen (2.40 million). Toyota and VW sales each grew 6% during the quarter.
GM Restructures Global Engineering Operations
4/23/2014General Motors Co. has reorganized its global vehicle engineering structure to encourage more cross-system integration.
GM Files Motion to Block Ignition Recall Lawsuits
4/23/2014General Motors Co. has asked a U.S. bankruptcy court in New York City to enforce a covenant of its emergence from bankruptcy in 2009 that blocks lawsuits stemming from product liabilities incurred earlier by "old" GM.