Aug 8 (Reuters) – Canadian auto parts maker Magna International Inc reported a 14.2 percent rise in quarterly profit on Wednesday, driven by strong sales across Europe. Net income attributable to Magna rose to $626 million or $1.77 per share, in the second quarter ended June 30, from $548 million, or $1.44 per share, a… Continue reading Canada’s Magna International quarterly profit rises 14 pct
Tag: Tier 1 Suppliers
Plastic Omnium finalizes its reinforced stake in HBPO, world leader in front-end modules
The German Group, Mahle’s 33.33% equity investment in the joint venture, HBPO, up to now held by Plastic Omnium, Hella and Mahle-Behr. Plastic Omnium now owns 66.66% of HBPO.This acquisition was signed for an enterprise value of € 350M, financed by the Group’s own resources.HBPO is the world leader in the development, assembly and logistics… Continue reading Plastic Omnium finalizes its reinforced stake in HBPO, world leader in front-end modules
Clean, efficient, and low-cost: MAHLE optimizes combustion engines for commercial vehicles with variable valve train
Reduction in the total cost of ownership (TCO) of commercial vehicles with MAHLE solutions Promising strategies: waste heat recovery, functional integration in the valve train, and optimized thermal processes Thanks to an adjustable cam follower, the system can be brought into contact with one of the two cam lobes, which have different profiles. The electrically… Continue reading Clean, efficient, and low-cost: MAHLE optimizes combustion engines for commercial vehicles with variable valve train
End of a cartel
The cartel allegations against Audi, BMW, Daimler, Porsche and VW destroy the confidence of politics in the industry DER SPIEGEL 2017/31 revelations For decades, politicians and the auto industry have messed with each other. Since the cartel allegations against Daimler, BMW, Audi, Porsche and Volkswagen everyone is fighting against everyone. Now Bosch is under suspicion.… Continue reading End of a cartel
The dark side of power
The government has delivered itself with skin and hair of the automobile industry, that is the shocking realization of the Diesel summit. Politics allow corporations to continue to shirk their responsibilities. For how much longer? Angela Merkel has the talent to be in the right place at the right time. Currently the right place is… Continue reading The dark side of power
Do not contradict
The major car manufacturers have agreed on a common software for the AdBlue dosage. One goal: to deceive the US authorities. Sometimes a few e-mails are enough to distress a global corporation. “No one wants to report the true motivation to the authorities (CARB, EPA),” says an electronic presentation sent by a VW manager after… Continue reading Do not contradict
Meet the RUF-Powered, Magna-Engineered W Motors Fenyr
For Middle-Eastern investors, being a supercar maker seems to be all about pushing through their preferred design, while engineering is outsourced to far more experienced companies. Proving my point the best is the (supposedly) 300 mile per hour Devel Sixteen, which is being developed by Paolo Garella’s company, Manifattura Automobili Torino. But it’s the same… Continue reading Meet the RUF-Powered, Magna-Engineered W Motors Fenyr
Jörg Stratmann in an interview: “We need to be open to technology” – Mahle-Chef does not write down Verbrenner
Jörg Stratmann The new Mahle boss wants to bring the technology for electric cars on the road. (Photo: Verena Müller for Handelsblatt Verena Müller for Handelsblatt) StuttgartMahle boss Jörg Stratmann is unpretentious. When looking out of his office, he looks directly at the Stuttgart Wilhelma. But he cares less about the animals in the zoo… Continue reading Jörg Stratmann in an interview: “We need to be open to technology” – Mahle-Chef does not write down Verbrenner
Fiat-Chrysler shares jump nearly 4% as Magneti Marelli spinoff appears more likely
Fiat-Chrysler Automobiles has rebuffed buyers interested in its automotive parts unit Magneti Marelli and is holding fast to its plan to spin off the business, reported Bloomberg Thursday, citing sources.
BMW beats second-quarter forecasts as new anti pollution rules dent rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) reported a smaller-than-expected 6 percent decline in second quarter operating profit on Thursday while brushing off concerns about new anti-pollution rules and global trade tensions which caused rival Daimler (DAIGn.DE) to warn on profits. FILE PHOTO: The logo of German car manufacturer BMW is seen on the bonnet of a… Continue reading BMW beats second-quarter forecasts as new anti pollution rules dent rivals