Autos

Mexico economy minister says NAFTA revamp talks 'not easy'

Much remains to be done before a new North American Free Trade Agreement is reached, Mexican Economy Minister Ildefonso Guajardo said on Thursday, tempering hopes for a quick deal as ministers met in Washington for a third successive day.

New CEO declares Volkswagen on right path despite profit hit

Volkswagen's <VOWG_p.DE> first-quarter operating profit fell on Thursday, but optimism over its new chief executive, the carmaker's financial health and lower provisions for the diesel emissions scandal lifted its shares.

Peugeot's UK Vauxhall car workers agree pay deal as dispute in Germany continues

Workers at Peugeot-maker <PEUP.PA> PSA's Vauxhall car plant in Britain have agreed a pay deal with the French automaker, the Unite Union said on Thursday, as a dispute with the firm's Opel workers in Germany continues.

GM, South Korea agree $4.35 billion lifeline for GM Korea

General Motors <GM.N> and South Korea have agreed to inject $4.35 billions into the carmaker's loss-making local arm to keep it afloat after it came close to seeking bankruptcy protection.

GM agrees to provide $3.6 billion funding to South Korean unit: South Korea

General Motors <GM.N> has agreed to provide $3.6 billion in fresh funding to its troubled South Korean unit, higher than its previously proposed $2.3 billion as part of a preliminary deal, South Korea said on Thursday.

Hyundai Motor first-quarter profit halves to six-year low on drab U.S. sales

Hyundai Motor Co's <005380.KS> quarterly profit halved to an almost six-year low, as bleak U.S. and China sales contrasted with those at home where the automaker is picking up customers of General Motors Co's <GM.N> troubled South Korean arm.

China considering cutting duty on imported cars by about half: Bloomberg

China is considering cutting the import duty on passenger cars by about half as part of the country's plan to further open up the automobile market, Bloomberg News reported on Thursday, citing people familiar with the matter.

Asia a bright spot for Japan carmakers facing sluggish U.S. sales, trade concerns

Japanese automakers that rely heavily on exports to sell their models in the United States would be hardest hit by trade restrictions the country is threatening to impose, as rivals with more limited exposure focus on growing, niche markets.

Canada sees progress on NAFTA auto rules; steel tariffs loom

Canadian Foreign Minister Chrystia Freeland said on Wednesday that good progress has been made at the NAFTA trade talks on the key issue of auto rules, though the threat of proposed U.S. steel and aluminum tariffs coming into force next week clouded the mood.

GM may raise investment plan for South Korean unit: source

General Motors Co <GM.N> and the South Korean government are considering raising the size of their investment in the U.S. automaker's South Korean subsidiary from a previously proposed $2.8 billion, a senior government official with direct knowledge of the matter said on Wednesday.

BMW sees slower growth in China this year; local JV talks ongoing

German luxury carmaker BMW <BMWG.DE> expects the pace of growth of its China sales to almost halve this year, the firm's chief executive said on Wednesday, amid a broader slowdown in the world's largest auto market.

Audi aims to double China production with partner FAW in five years: CEO

German luxury carmaker Audi AG <NSUG.DE> aims to double China production with local partner China FAW Group Corp Ltd [SASACJ.UL] within five years, its chief executive said on Wednesday, as global automakers look to localize in the world's largest vehicle market.

China carmaker GAC says trade war could hurt plans to enter U.S. market

Guangzhou Automobile Group Co Ltd (GAC) <601238.SS> on Wednesday said a brewing trade war between China and the United States could hurt the Chinese automaker's plans to break into the U.S. market if tariff barriers were raised.

Trump says NAFTA talks going 'nicely,' Canada sees progress on auto rules

U.S. President Donald Trump said on Tuesday a new North American Free Trade Agreement could be agreed on quickly, as Canada hailed progress on forging new rules for the auto industry, the pivotal issue in talks to revamp the 24-year-old accord.

U.S. top court curbs human rights claims against companies

Foreign corporations cannot be sued in American courts for human rights abuses committed overseas, the U.S. Supreme Court ruled on Tuesday, refusing to revive a lawsuit claiming Jordan-based Arab Bank Plc helped finance militant attacks in Israel and the Palestinian territories.

Harley-Davidson backs forecast, investors see signs of recovery

Harley-Davidson Inc <HOG.N> stood by its full-year shipments forecast and said it expects dealers to sell more motorcycles in overseas markets, offering a glimmer of hope to a business struggling with an aging customer base in the United States.

China ride-hailing giant Didi eyes purpose-built fleet as auto market shifts

China's Didi Chuxing, already disrupting the global ride-hailing market and taking on U.S. rival Uber, has its sights set on an even bigger potential prize: designing and getting built its own dedicated fleet of Didi cars.

GM Korea averts bankruptcy but how long will it stay?

General Motors' South Korean unit has averted a bankruptcy filing, but analysts and customers, as well as the South Korean government, are debating how long the loss-making company will remain in business.

Volkswagen CEO says China tax hike on U.S. vehicle imports would sting

Volkswagen AG's <VOWG_p.DE> chief executive Herbert Diess said on Tuesday that a Chinese tariff hike on U.S vehicle imports would be tough for the firm, amid a brewing trade war and threats of punitive tariffs exchanged between Washington and Beijing.