Research firm predicts strong 2013 U.S. auto sales
An improving economy and a host of new models should push U.S. auto sales above 15 million units in 2013, according to a Michigan-based auto industry research firm.
Magna buys German pump maker for $397 million
Magna International Inc. operating unit Magna Powertrain has acquired automotive vacuum, engine and transmission pump maker ixetic Verwaltungs GmbH (ixetic) for €308 million (CAN$397.8 million).
Magna partners with Avtotor for manufacturing project in Russia
Canadian-based auto parts manufacturer Magna International Inc. is partnering with Russian car maker Avtotor Holding Ltd. to develop an automobile manufacturing cluster in the Kaliningrad region.
Plasmatreat opens new Ontario sales and technical centre
Plasmatreat North America, a provider of surface treating technology for the plastics industry, has opened a new office in Ancaster, Ont.
GM crossovers win big at SPE auto innovation awards; Canadian shops front and centre
Crossover cars from General Motors were the big winners at the 2012 Society of Plastics Engineers (SPE) Automotive Innovation Awards held on November 7 in Detroit, and a variety of Canadian shops played leading roles in other winning…
Automakers in Canada report record-breaking October
Canadian vehicle sales were up nearly seven per cent from a year ago, putting sales on track for what one analyst describes as a record year.
Magna strengthens position in auto pumps with two acquisitions
Automotive supplier Magna International Inc. will add to its strength in automotive pumps with two transactions, one in Europe and one in Canada.
August auto sales up 6.4 per cent from year ago as imports post big gains: DesRosiers
Canadian car and light truck sales for August climbed 6.4 per cent from a year ago, as imports posted strong gains against the U.S. automakers, according to data compiled by DesRosiers Automotive Consultants.
DuPont sells auto painting business to Carlyle Group
DuPont Co. has struck a deal to sell its car paint business to Washington-based investment firm Carlyle Group LP for US$4.9 billion.
Driving into China
In a famous scene from the classic western Butch Cassidy and the Sundance Kid, Paul Newman convinces Robert Redford to pull up stakes for Bolivia by telling him, “If we were in business during the California gold rush, we’d have…
Despite hard times, global auto sales on the rise: Scotiabank
Global car sales advanced 6% in the first half of 2012, despite the ongoing sovereign debt problems in Western Europe and a slowdown in the pace of global economic activity, according to a new global auto report by Scotiabank Economics.
Magna reports record sales, buys rest of E-Car partnership
Magna International Inc., Canada’s largest auto parts manufacturer, delivered a record-breaking second-quarter result driven by a strong performance in the North American market, and has also reached a deal with a company affiliated with…
Auto sales in Canada up 4.7% in July
Fuelled by incentive programs and a strong surge at Japanese automakers whose production was crippled after last year’s earthquake and tsunami, Canadian auto sales grew 4.7% this July from a year earlier.
Record year possible for Canadian auto sales: BMO
With Canadian auto sales setting a June record and the first half of the year close to the best six-month stretch on record, sales for all of 2012 will challenge the all-time mark of just over 1.7 million units set in 2002, according to BMO…
Dow Automotive opens two technology centres
Dow Automotive Systems, a business unit of The Dow Chemical Company, has opened two new composite technology centres, one in Switzerland and the second in the U.S.
North American auto assembly will slow over the summer, recover by winter: Scotiabank
North American auto assembly will slow down over the coming months but production is expected to rebound by the end of 2012, according to a new report by Scotiabank Economics.
SPE holding new composite auto parts competition
The Society of Plastics Engineers (SPE) will hold its first ever parts competition at this year’s SPE Automotive Composites Conference & Exhibition in September.
Dow Chemical awarded US$2.16 billion in arbitration with Kuwait company
An international arbitration panel has ruled that Dow Chemical Co., the largest U.S. chemical maker by sales, is to be awarded US$2.16 billion in damages after a Kuwait company canceled a 2008 agreement to buy a stake in the company’s…
Magna reports stronger-than-anticipated earnings in Q1 2012
Canadian auto parts maker Magna International Inc. reported first quarter 2012 earnings and sales that exceeded year-earlier results, and the expectations of analysts, on stronger North American vehicle production.
PA-12 resin shortage won’t impact auto industry: execs
Executives from some key auto parts companies said that they don’t expect widespread fallout from a shortage of a key ingredient in plastic resin following a German factory explosion.