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Autoparts Report

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FTC Oks Pennzoil-Quaker State Sale To Shell.(Brief Article)
Pennzoil-Quaker State Co. said that the U.S. Federal Trade Commission (FTC) has cleared its acquisition by Shell Oil Co., a wholly-owned member of the Royal Dutch/Shell Group of Companies. Shell . . .

Nissan Awards New Business To Visteon.(Brief Article)
Visteon Corp. said it has won new business with Nissan for future truck platforms being built for consumers in Europe and North America. Visteon will supply cockpit and climate control systems and . . .

Raytheon and Valeo To Create New Advanced Sensing Venture.(Valeo Raytheon Systems)(Brief Article)
Valeo and Raytheon have finalized an agreement to create Valeo Raytheon Systems. The joint venture will develop and market new automotive systems based on advanced sensing technologies, . . .

New GM-Daewoo Venture To Share Parts With Suzuki.(Brief Article)
GM-Daewoo Auto & Technology (GMDAT), which is scheduled to be formally inaugurated in the middle of October will work closely with GM's Japanese subsidiary Suzuki in parts procurement, according . . .

Delphi Said GM Is First Electric Steering Customer.(Brief Article)
Delphi Corp. said General Motors is its first U.S. customer for its electric power steering system, E*Steer. Delphi said in a statement it is preparing a new facility in Buena Vista Township, . . .

Goodyear's Tenn. Plant To Lay Off 450.(Brief Article)
The Goodyear Tire & Rubber Co. plant in Union City, Tenn. will lay off about 450 workers, or 11.8 percent of its work force because of the slumping economy, company officials said. "In light of . . .

Valeo Plans New Investment In U.S. Unit.(Brief Article)
French car parts supplier Valeo said it would inject $226 million into a rescue plan to recapitalize its insolvent U.S. subsidiary. Valeo said in a statement that Valeo Electrical Systems Inc. . . .

BMW To Invest $400 Million In South Carolina.(Brief Article)
In 1992, BMW Manufacturing Corp. broke ground on its South Carolina facility. On its 10-year anniversary of the company's first U.S. assembly plant, BMW said it will invest an additional . . .

BorgWarner Sets Up Korean Business To Supply Hyundai.(Brief Article)
In support of its growing business relationship with Hyundai Motor Co., BorgWarner Morse TEC has established Morse TEC Korea, near Seoul. The company became a 100 percent-owned BorgWarner . . .

GM, Autovaz In SUV Joint Venture.(Brief Article)
In the largest joint venture yet for Russia's struggling automobile industry, General Motors and Russia's top automaker, Avtovaz, unveiled a plant capable of producing 75,000 sport . . .

Delphi Projects European Business To Hit $5.8 Billion This Year.(Brief Article)(Statistical Data Included)
Delphi Corp. said that it expects its European operations to record sales of about $5.8 billion this year, boosted in part by the sale of its diesel fuel systems. During the first six months of . . .

Delphi Captures New Technology Business With BMW.(Brief Article)
Delphi Corp. has won business on the new BMW Z4 and additional business on the latest version of the BMW 7-Series. Future growth with BMW is expected to be strong, building on confirmed business . . .

Delphi Grows Business With Land Rover and Jaguar Contracts.(Brief Article)
Delphi's expanding customer base now includes Range Rover. For the new Range Rover, Delphi is supplying its new airstrut module. The new technology is a key element in the independent air . . .

Nissan Sets U.S. Sales Target Of 1 Million Units By 2005.(Brief Article)
Nissan Motor Co. is looking to sell close to a million or more vehicles in the U.S. market by early 2005, up substantially from its current annual sales of 700,000, the Wall Street Journal . . .

Auto Parts Trade Associations Join Forces In Push For Lower Steel Tariffs.(Brief Article)
Three automotive industry trade associations said they will work cooperatively to obtain relief for their members affected by the Bush Administration's steel safeguard program, seek a closer . . .

Consumers Overwhelmingly Prefer Use Of Factory-Authorized Parts in Collision Repair.(Brief Article)
Consumers who have had collision repair work completed on their vehicles overwhelmingly prefer the use of factory-authorized parts by the body shop, according to the recent J.D. Power and . . .

North American Parts Aftermarket To Reach $53 Billion In 2006, New Study Predicts.(Brief Article)
The North American aftermarket for light vehicle components and parts is projected to increase at an annual rate of 3.5 percent, reaching $53 billion by 2006, according to a new research study . . .

Barriers to E-Business Implementation In Auto Industry Examined.(Brief Article)
A new research study authored by the Center for Automotive Research (CAR) at Altarum, and sponsored by SupplySolution, provides a first-of-its-kind glimpse into the lower tier automotive . . .

J.P. Morgan Upgrades GM And Two Of Its Suppliers.(General Motors, Delphi Corp. and Gentex Corp. earnings estimates)(Brief Articl
J.P. Morgan raised its earnings estimates for General Motors, Delphi Corp. and Gentex Corp. due to a forecasted increase in GM's North American vehicle production. In a research report, J.P. . . .

SPX Approves $250 Million Share Repurchase Program.(Brief Article)
SPX Corp. said that its board of directors has authorized a new share repurchase program for up to $250 million. The new repurchase program was initiated in conjunction with a new financing . . .

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