U.S. Auto Parts Suppliers Are Looking To Foreign Automakers For
Growth.(US automakers are losing domestic market share, auto par
Price cutting demands by the Big Three are forcing U.S. suppliers
to seek stronger ties with Asian and European carmakers, whose
increasing share of the American market may be a path to . . .
Auto Semiconductor Market To Expand Rapidly To Meet New Auto
Technologies.(forecasts for automotive semiconductor market)
The semiconductor content of an average vehicle will continue to
grow exponentially, stemming from a barrage of new, advanced safety,
engine and chassis control technologies in new vehicles over . . .
Ford Names Aggressive Cost-Cutter To Head Luxury Division.(David
Thursfield named head of Premier Automotive Group)(Brief
Articl
Ford Motor Co. promoted David Thursfield, the former head of Ford
Europe, to direct Ford's luxury car division, which includes
Jaguar, Land Rover, Volvo and Aston Martin, according to . . .
International Rectifier Said It Achieved Technology Breakthrough
In Power Electronics Systems For Automotive Alternators.(Intern
International Rectifier (IR), El Segundo, Calif., said it began
the production of the first Active Integrated Rectifier Regulator (AIRR)
for automotive alternators. The AIRR has been designed by . . .
Pep Boys Now Sells Auto Parts and Accessories Online.(Pep
Boys-Manny, Moe and Jack)(Brief Article)
The Pep Boys-- Manny, Moe & Jack, said it is now selling
automotive parts and accessories on its website, pepboys.com. The Pep
Boys online shopping experience enables customers to conduct a . . .
CTS Corp. Awarded Third Major Belt Tension Sensor Program For
Advanced Occupant Restraint System.(CTS Automotive Products receiv
CTS Corp., Elkhart, Ind, a leader in automotive sensor and thick
film technology, said that a major international vehicle manufacturer
has selected CTS Automotive Products to supply additional . . .
Mopar Moves Beyond Parts.(opens Mopar Speedshops inside car
dealerships)(Brief Article)
Mopar, Chrysler Group's parts and service brand, introduced
"Mopar Speedshop" at the annual Specialty Equipment Market
Association (SEMA) trade show. "Our goal at Mopar is to help fuel
the passion . . .
Alcoa Fujikura, Pacific Insight Electronics Alliance For Heavy
Duty Market.(AFL Automotive L.P., Pacific Insight Electronics Cor
Pacific Insight Electronics Corp. headquartered in Nelson, BC said
it signed an exclusive supply and product development agreement with AFL
Automotive LP targeting the Class 4 - 8 Heavy Truck & . . .
Hyundai's Auto Parts Unit To Build Alabama Plant.(Hyundai
Mobis Co.)(Brief Article)
Hyundai Motor Co., said its parts making unit, Hyundai Mobis Co.,
would build a $30 million plant in Alabama. Earlier this year, Hyundai
Motor announced it would build a $1 billion plant in . . .
Auto Affordability Hits New Record In Third Quarter 2002,
Comerica Reports.(Brief Article)
The purchase of an average- priced new vehicle during the third
quarter of 2002 took 19.9 weeks of median family income, before taxes,
according to the Auto Affordability Index compiled by . . .
Stronger Yen May Help U.S. Auto Industry, GM Said.(Brief
Article)
GM Vice Chairman Bob Lutz said the weakening U.S. dollar and
better quality vehicles are putting the U.S. automaker on equal footing
at home with Japanese and European competitors. "With the . . .
Blackstone Conclude $4.75 Billion Deal For TRW Auto
Unit.(Blackstone Group L.P. to acquire TRW Inc.'s automotive parts
business)
The New York Times reported that TRW Inc. has agreed to sell its
automotive-parts business to closely held Blackstone Group for as much
as $4.75 billion in a transaction that could leave Northrop . . .
Steelmakers To Push Steel Prices Higher.(steelmakers aim to raise
prices in contracts with automakers)
Some U.S. steelmakers are seeking their first price hikes in seven
years from car manufacturers. The steel companies are pushing for
increases of as high as 10 percent in their contracts with the . . .
Tenneco's Earnings, Revenues Improve.(Brief Article)
Tenneco reported net income of $5 million, or 13-cents per diluted
share, for the third quarter of 2002 compared with a net loss of $2
million, or 6-cents per diluted share during the third . . .
BorgWarner Reports Sharp Increase In Revenues, Earnings.(Brief
Article)
BorgWarner Inc. said it had third quarter earnings of $1.18 per
share on sales of $684.0 million, a 22 percent sales increase over the
2001 third quarter. The company said its robust results were . . .
Tower Said Revenues Increase In Third Quarter.(Brief
Article)
Tower Automotive, Inc., said that third quarter 2002 revenues
were $654 million up from $558 million in the 2001 period. Net income
for the third quarter of 2002, was $10 million, or $0.15 per . . .
Visteon Reports Third Quarter Loss.(Brief Article)
Visteon Corp. said it recorded a net loss of $52 million for the
third quarter or $0.40 per share. Excluding a $17 million after-tax
special charge for the European Plan for Growth, Visteon lost . . .
Genuine Parts Co. Reports Third Quarter Results - Sales Up 3 %,
Net Income Up 7%.(Brief Article)
Genuine Parts Co. reported that third quarter 2002 sales, totaling
$2.2 billion, were up 3 percent as compared to the third quarter of
2001. Net income was $94 million, an increase of 7 percent . . .
Lear's Third Quarter EPS Rises 42 Percent.(Brief
Article)
'Lear Corp. said its third quarter net sales reached $3.3
billion, up 7 percent from a year ago and EPS of $0.91, was up 42
percent from prior year's adjusted basis. For the third quarter of
2002, . . .
Aftermarket Reports Improved Earnings.(Brief Article)
Aftermarket Technology Corp. posted higher third-quarter
earnings, and affirmed its earnings forecast for the full year.
Third-quarter income from continuing operations increased to . . .
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