This week's fall in equities markets is not expected to have a major impact on August U.S. auto sales, industry consultants J.D. Power and LMC Automotive said on Thursday. The consultancies say monthly auto sales to be reported next Tuesday by major automakers will show a decline of 3.9 percent from a year ago, to 1.52 million vehicles. This is "due to a quirk in the calendar" that pushes results of Labor Day weekend sales into September, JD Power and LMC said.
China and Japan are locked in an increasingly heated contest to build Indonesia's first high-speed railway, with the Asian giants sweetening deals and turning up the charm as time runs out to woo Jakarta. The rivalry over this major project is just the latest to flare up as China challenges Japan's long-standing dominance in Southeast Asia as a key source of infrastructure funding. Japan, a top-three investor in Indonesia with huge stakes in the automotive and mining sectors, seemed destined to build the high-speed railway until China muscled in with a counter offer earlier this year.
WATERTOWN, N.Y. (AP) — The company that invented the iconic pine tree-shaped automotive air fresheners is turning up its nose at a proposal to open a slaughterhouse near the firm’s northern New York factory.
Johnson Electric Holdings Ltd said on Tuesday it would buy Ontario-based automotive engine and transmission pumps maker Stackpole International for C$867 million ($659 million) in a bid to increase its business in North America. The Hong Kong-listed electric motor maker said it was buying Stackpole from S.I. Investors, L.P. and would finance the purchase with cash reserves and credit facilities. Stackpole’s pump technology and powder metal expertise will enable the Johnson Electric to provide integrated motorized pump solutions to customers in the automotive industry, it said.
A long-simmering dispute between automakers and U.S. regulators over policies to promote electric vehicles spilled into the open on Tuesday, in the high stakes struggle over the future of automotive technology. The heads of two major lobby groups told hundreds of attendees at an industry conference in Traverse City, Michigan, that automakers are struggling to meet a California mandate to boost demand for electric cars to 15 percent of sales by 2025. Nine other states have adopted the same target to comply with the Obama administration’s efforts to curb greenhouse gas omissions from vehicles.
TORONTO (Reuters) – Canadian auto sales rose 0.4 percent in July from a year earlier but some major automakers, including Ford Motor Co and General Motors Co saw sales decline, according to data compiled by DesRosiers Automotive Consultants on Tuesday. Light vehicle sales rose to 177,844 cars and trucks from 177,108 a year earlier, setting a new July sales record. U.S. auto sales topped expectations in July, keeping the industry on pace for its best performance since the turn of the century. But a drop in the price of oil has hurt the Canadian economy. …