Pep Boys Reports Record Second Quarter Earnings.(Brief
Article)(Statistical Data Included)
The Pep Boys said it recorded a 32 percent increase in earnings
for the thirteen weeks ended August 3, 2002. Second quarter sales for
the quarter ended August 3, 2002, were $585.8 million, 2.2 . . .
Bumper Supplier Intends To Go Public.(Meridian Automotive Systems
Inc. initial public offering)(Brief Article)(Statistical Data
Meridian Automotive Systems Inc., which supplies bumpers and other
parts to Ford Motor, General Motors and DaimlerChrysler, said it wants
to go public. The Dearborn, Michigan-based company filed . . .
Edelbrock Reports Improved Sales, Earnings.(fiscal 2002 fourth
quarter)(Brief Article)(Statistical Data Included)
Edelbrock Corp. said that it achieved continued improvement in
sales and earnings for its fiscal 2002 fourth quarter and year ended
June 30, 2002. For the fourth quarter of fiscal 2002, revenues . . .
Denso To Increase Car Air-Conditioning Output.(Brief
Article)
Denso Corp., Japan's largest auto parts maker, said it will
sharply boost output of air conditioners for cars from next business
year starting in April 2003, the Nihon Keizai Shimbun newspaper . . .
Toyota, China FAW Joint Venture To Produce 200,000 Cars
Annually.(Brief Article)
The newly-announced joint venture between Toyota Motor Corp. and
China's FAW Group Corp. will make 200,000 cars a year
Toyota spokesman Masashi Honda said Toyota and FAW would make
"mini cars" . . .
Audi To Expand Hungary Engine Plant.(Brief Article)
Volkswagen AG unit Audi AG said that it has expanded its engine
plant close to Gyor in northwest Hungary at a cost of $133 million. As a
result of the investment, Audi's output of eight-cylinder . . .
Korea's Halla Climate Gets $200 Million Compressor Orders
From U.S. Firms.(Brief Article)
South Korea's Halla Climate Control Corp. said it has
received $200 million in orders from foreign car-makers, including
DaimlerChrysler AG and Ford Motor Co. to provide compressors for . . .
DaimlerChrysler, Porsche Protest New U.S. Accounting Rule.(Brief
Article)
A number of Germany's biggest companies, including auto
companies, are speaking out against U.S. rules that make executives
personally responsible for their corporate bookkeeping. . . .
Daewoo Motor Suppliers Suspend Parts Deliveries.(Brief
Article)
South Korea's Daewoo Motor Co., suspended production on
August 28th as a major supplier owed part of $700 million in unpaid
bills stopped deliveries of brakes and other parts. Daewoo . . .
Eberspaecher Begins Construction On Michigan Exhaust
Plant.(Eberspaecher North America, Inc.)(Brief Article)
Eberspaecher North America, Inc. (ENA), a Tier 1 automotive
exhaust system supplier, said that construction is underway on Phase 1
of a 38,000 square foot manufacturing facility in Brighton, . . .
Kia May Assemble Pickup Truck In U.S.(Kia Motors)(Brief
Article)
Kia Motors may follow parent Hyundai into assembling vehicles in
North America after 2005 and expand its product line with a pickup
truck, a company executive told the Detroit News.
Myung-hun . . .
Increased Electrical Demands To Drive Move To 42-Volt
Technology.(42-volt systems could replace 14-volt systems now in
automobil
The emerging market for 42-volt automotive electrical systems
stands poised for rapid growth, driven by the need for more
sophisticated technology than that used in currently prevalent . . .
Federal-Mogul, Taiho Agree To Gasket Joint Venture.(Brief
Article)
Federal-Mogul Corp. and Taiho Kogyo Co.'s Taiho Corp. of
America unit agreed to form a joint venture to produce engine gaskets
for global vehicle manufacturers. Federal-Mogul, a supplier . . .
Delphi Sees Benefits Of Increased Use Of Diesel Engines In The
U.S.(Brief Article)
Delphi Corp. said it is in strong support of increased diesel
engine use in the U.S. and it sponsored the eighth annual Diesel Engine
Emissions Reduction (DEER) conference, in late August, in . . .
Visteon To Supply Electronic Technologies To BMW.(Brief
Article)
Visteon Corp. said it entered a supply and development agreement
to create electronic technologies for BMW Group passenger cars. Terms of
the partnership weren't disclosed.
As part of the . . .
Mercedes-Benz To Produce New Vehicle In Alabama.(Mercedes-Benz
Grand Sports Tourer)(Brief Article)
DaimlerChrysler AG said it will produce the Mercedes-Benz Grand
Sports Tourer (GST) at its Tuscaloosa, Alabama factory. Production
launch is planned for the end of 2004.
A $600 million expansion . . .
Dana Buys Spanish Driveshaft Producer.(Brief Article)
Dana Corp. said that it has acquired GKN Ayra Cardan, S.A., a
Spanish driveshaft manufacturing facility. The facility - which will be
known as Spicer Ayra Cardan - currently supplies product . . .
Honda To Supply 50,000 Gas Engines To GM Annually.(General Motors
Corp.)(Brief Article)
General Motors, which signed a deal in 1999 to buy up to 90,000
engines and transmission annually from Honda Motor, has agreed to take
only 50,000 a year for use in its Saturn Vue sport utility . . .
TRW Negotiating Sale Of Auto Parts Unit.(Brief Article)
TRW Inc. is in final stages of negotiations to sell its auto parts
unit outright to two financial buyout firms, Carlyle Group and
Blackstone Group, for about $5.0 billion, according to reports in . . .
Financial Impact Of Customer-Driven Engineering Changes Is
Difficult To Predict For Auto Parts Makers.(Brief Article)(Polling
Da
Over 90 percent of automotive executives revealed in a
questionnaire that their inability to track the financial impact of
engineering changes is eroding their profitability. A major trend . . .
|
|