Allison Transmission beats 2Q forecasts with record sales
Allison attributed the increase in sales to higher demand in the North America On-Highway and Outside North America Off-Highway end markets.
Auto Industry
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VW, Ford team up to make autonomous, electric vehicles
Volkswagen will invest $2.6 billion into a Pittsburgh autonomous vehicle company that's mostly owned by Ford as the automakers deepen their partnership to develop driverless and electric vehicles in an ultra-competitive landscape.
Company specializing in steel wheels plans Indiana facility
Officials announced Friday that Indiana Wheel Corp. plans to spend nearly $23 million to purchase, renovate and equip the facility, where it will hire up to 117 workers.
Fiat Chrysler says French politics ended Renault merger
Fiat Chrysler abruptly withdrew an offer to merge with French automaker Renault late Wednesday, a shocking reversal of a deal that could have reshaped the global auto industry.
General Motors plans $24M in upgrades at Indiana plant
The Detroit-based automaker said Thursday the new round of upgrades being completed this summer will allow the plant to increase production of the Chevrolet Silverado 1500 and GMC Sierra 1500 pickups.
Fiat Chrysler seeks $40B merger with Renault to create auto giant
The merger would reshape the global industry: The new company would produce some 8.7 million vehicles a year, leapfrogging General Motors and trailing only Volkswagen and Toyota.
Trump delays imposing tariffs on auto imports, parts
The White House said Friday that President Trump is delaying for six months any decision to slap import taxes on foreign cars, a move that would hit Europe and Japan especially hard.
Cummins possible suitor for VW peripheral unit valued at $3.4B
Volkswagen AG is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, according to people familiar with the matter.
Ford faces U.S. criminal investigation of emissions testing
Ford confessed in February to having taken a flawed approach to using road-load specifications to simulate how aerodynamic drag and tire friction can affect the fuel economy of its vehicles outside testing labs.
Tesla suffers surprisingly large quarterly loss as sales slump 31%
The loss was more than double what analysts had predicted as Tesla lost $702.1 million in the quarter.
Ford to invest $500M in electric vehicle startup Rivian
Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings.
U.S. expands probe into air bag failures to 12.3M vehicles
Vehicles made by Toyota, Honda, Kia, Hyundai, Mitsubishi and Fiat Chrysler from the 2010 through 2019 model years are included in the probe, which was revealed Tuesday in documents posted by the National Highway Traffic Safety Administration.
Allison Transmission announces $132 million in acquisitions
The Indianapolis-based company announced Tuesday that it has acquired England-based Vantage Power and the electric vehicle systems division of Michigan-based AxleTech International in two separate deals.
Subaru building $4.2M training center in Lafayette
The facility will include a 7,000-square-foot simulated factory floor featuring training robots, assembly-line simulators, a car lift, a forklift and work space for interns.
Safety technology driving up repair costs on newer cars
While the latest technology on cars helps prevent accidents, there is a potential side effect: much higher repair costs, even in seemingly minor accidents.
Allison Transmission seeking $2.7M tax break from city on $34.5M testing facility
Officials for the Indianapolis-based transmission giant tell city officials that the project would create 193 jobs that pay an average of $20.39 per hour, as well as help it retain current employees.
Toyota investing $750M at 5 U.S. plants, creating 600 jobs
It marks yet another expansion of the Japanese automaker's U.S. presence, bringing to nearly $13 billion the amount it will spend by 2021.
Tesla to close stores to reduce costs for $35,000 Model 3
Tesla plans to sell its electric cars only online as it accelerates its cost-cutting efforts. The company will close many of its 378 stores, but leave some open as galleries or "information centers" in high-traffic areas.
Automakers recall 1.7M cars with potentially fatal airbags
Cars from Subaru, Tesla, BMW, Volkswagen, Daimler Vans, Mercedes and Ferrari are included in the latest round of recalls involving airbag inflators that can hurl shrapnel into drivers and passengers.
U.S. new-vehicle sales unexpectedly show 2018 increase
Sales of new vehicles in the United States rose slightly in 2018, defying predictions and highlighting a strong economy.