Rental companies buy up used cars as chip crisis deepens
The demand is sending used-car costs soaring. The Manheim Index, which measures prices at wholesale auctions, shows that they’re 52% higher than they were a year ago.
Manufacturers
Articles
Growth in U.S. manufacturing slowed in April from March high
April was the 11th consecutive month manufacturing has grown after contracting in April 2020, when the country was struggling to deal with the shutdowns caused by a global pandemic.
Allison Transmission raises sales forecast amid ongoing pandemic recovery
The Indianapolis-based manufacturer said it expects 2021 net sales to range from $2.33 billion to $2.48 billion. That’s an improvement from the guidance the company issued in February.
Toyota hiring 1,400, investing $803M to expand production at Indiana plant
Production of two new electric vehicles—one branded Toyota and the other in the Lexus line—is expected to begin in mid- to late 2023 at the plant in Princeton.
Orders for big-ticket manufactured goods rebound
Analysts said Monday’s durable goods report “reveals significant volatility” in certain industries due to the supply chain troubles, which have been particularly acute in the delivery of computer chips.
Auto sales rise 11% in 1Q, helped by strong showing in March
Automakers sold more than 3.9 million vehicles during the first three months of the year, with several major companies reporting March sales that were nearly double from the same month a year earlier.
U.S. manufacturing surges most since 1983, underscoring rebound
All but one of 18 manufacturing industries reported growth in March, led by textiles, electrical equipment and appliances, machinery and computers and electronic products.
Biden’s $2.25T infrastructure, climate plan emerges as congressional wrangling begins
The ambitious plan, to be unveiled Wednesday, is expected to devote hundreds of billions of dollars to infrastructure, home care for the elderly and the disabled, efforts to revive manufacturing, and bolstering the nation’s electric grid, broadband access and water systems.
Conexus Indiana’s top executive to depart in June
Mark Howell, 56, who joined Conexus in 2018, plans to focus on volunteer and philanthropic activities after leaving the Indianapolis-based not-for-profit, the organization said Wednesday.
Indianapolis-based Bastian Solutions on 400-employee hiring spree
Bastian Solutions, which makes conveyor systems, robotics and other automated materials-handling items often used by the retail industry, has seen growth accelerate because of the pandemic.
Automakers embrace electric vehicles, but what about buyers?
The world’s major automakers have made something abundantly clear: They believe electric vehicles will dominate their industry in the years ahead. But the American public is far from sold on the idea.
Hurco gets first new chief executive in 20 years
The manufacturer on Friday announced an immediate shuffle in its leadership ranks that moved longtime chief executive Michael Doar into the position of executive chairman of the board.
Allison Transmission expects revenue, profit to rebound this year
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
Allegion hires new Carmel-based exec to lead Americas business
Luis Orbegoso, 50, joins Allegion from American Residential Services. He’ll be based in Allegion’s Carmel office and oversee the security-products company’s operations in the Americas.
Cummins saw stiff drop in sales, profit in 2020, but exceeded market expectations
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Mitsubishi to close 82-worker climate control business in Franklin
Mitsubishi Heavy Industries Climate Control Inc., which has operated in Franklin since the 1990s, will cease production next month. Mitsubishi has a turbocharger business in the same facility that will continue to operate.
General Motors to eliminate gasoline and diesel light-duty cars and SUVs by 2035
The electric-vehicle industry has grown exponentially in the past decade but still represents less than 2% of automobiles sold in the United States.
Greenwood-based filter company expands its manufacturing plant, workforce
National Trade Supply, located at 2011 Southtech Drive, employs 157 people in Greenwood and 167 at retail locations throughout the state and country. That includes 43 local employees it added last year.
Cummins to close 300-worker Memphis turbocharger plant
A key reason for the closing is because turbochargers are lasting longer, “decreasing the demand for remanufactured turbochargers,” the company said in a statement.
A year of poor planning led to carmakers’ massive chip shortage
Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.