U.S. auto sales are forecast to drop more than 7 percent in October from the same period in 2015, the sixth monthly decline so far this year, as automakers offer steep discounts and adjust production to manage inventories, J.D. Power and LMC Automotive said on Friday. The two auto industry consultants said October U.S. new vehicle sales will number 1.347 million, down 7.3 percent from 1.453 million units a year earlier. This October has two fewer auto sales days than October of 2015.
Qualcomm Inc is nearing a deal to acquire NXP Semiconductors NV for around $37 billion, a person familiar with the matter said on Friday, as the U.S. company seeks to expand the reach of its chips from phones to cars. The deal would make San Diego-based Qualcomm, which supplies Android smartphone makers and Apple Inc, a bigger supplier to the automotive industry as it grapples with slowing smartphone sales and stiff competition from Chinese and Taiwanese rivals. The acquisition of NXP by Qualcomm for $110 per share in cash could be announced within days, although there is always a possibility of a last-minute glitch, the source said, asking not to be identified because the negotiations are confidential.
SAN FRANCISCO (AP) — A federal appeals court in San Francisco says used car retailer CarMax must tell buyers in California the condition of individual vehicle components it inspects.
By Alan Baldwin AUSTIN, Texas, Oct 19 (Reuters) – McLaren group head Ron Dennis said he was “categorically” not stepping down after a report on Wednesday suggested he would be leaving his role as chairman and chief executive at the end of the year. The autosport.com website said Dennis, 69, would not have his current contract renewed when it expired. It gave no source for the information but added that McLaren Automotive, the separately-constituted road car division, was not affected by any change of leadership at McLaren Technology Group.
Software AG signed a major deal with German automotive supplier Robert Bosch [ROBG.UL] at the start of the fourth quarter instead of the end of the third quarter as it had hoped, Chief Financial Officer Arnd Zinnhardt told Reuters on Friday. Software AG earlier disappointed the market with a 9 percent decline in third-quarter license sales at its digital business platform unit, which it sees as its growth engine. Zinnhardt said in an interview two strategic deals had slipped from the third to the fourth quarter – the Bosch partnership and another major order from Italian insurance telematics provider Octo Telematics.
Poland has attracted a major investment in its automotive industry from the United States and it is also in talks with Toyota on a potential new project in Poland, Deputy Prime Minister Mateusz Morawiecki said on Thursday. "We have a decision on another, big investment, American one, in the automotive sector," Morawiecki said without providing more details. The plant will make engines for Mercedes-Benz passenger cars.
By Naomi Tajitsu TOKYO (Reuters) – Japan's Toyota Motor Corp and Suzuki Motor Corp said they plan to explore a possible partnership, citing technological challenges and the need to keep up with consolidation in the global auto industry. Toyota invests heavily in R&D for automated driving functions and artificial intelligence for mobility purposes while cost-conscious Suzuki, which specializes in affordable compact cars, has yet to announce major strategic plans on how to compete in new automotive technologies. The future looks perilous." A partnership between Toyota and Suzuki would be the latest in an increasingly consolidating auto industry.