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...Auto sales, which rose 12 per cent over 2023, are one sign of lower prices supporting demand, though Loo said the auto data had been “volatile”....
...While use of large mechanical arms to carry out functions from lifting entire cars to installing some parts is common across the auto industry, this is one of the first uses of robots with a human appearance...
...The workers, who voted 2,628 to 985 to join the union, had said that Volkswagen was underpaying them, targeting the German group as part of a $40mn campaign to organise workers at 13 mostly foreign-owned...
...The analysts at Employ America have also highlighted auto insurance’s role in the recent gap between the CPI and the Fed’s favoured PCE indicator — and reckon that part of the gap could very possibly narrow...
...Figures from INA, Mexico’s trade body for auto parts suppliers, show that 33 Chinese-owned companies with Mexican operations sent $1.1bn worth of parts to the US in 2023, up from $711mn in 2021....
...Embracer said it had lined up a new €900mn financing agreement through Asmodee as part of the transaction....
...The world’s biggest tech show is also a major auto expo, with South Korea’s Kia and Hyundai, Honda of Japan and Mercedes-Benz of Germany all taking part along with numerous suppliers....
...Last month, a union drive was announced at the Toyota plant in Troy, Missouri, where roughly 850 hourly employees turn out cylinder heads, an engine part that supplies the company’s nine North American car...
...The next European Commission will need to look at more difficult ideas such as auto-enrolling workers in a private pension....
...When I read recent reports about a 66-year-old man who objected to a younger worker offering him a chair, seeing it as part of a plot to oust him, I imagined it could be a genuine case of age discrimination...
...Sustainability was a key part of the architectural mandate, too....
...This is a lesson learnt from the UK which, for years, struggled to attract auto investors after losing many of its parts suppliers to lower-cost regions. Some of the largest US names are adapting....
...The United Auto Workers will expand its strike against Ford and General Motors, while sparing Stellantis from further action, citing progress with the company at the bargaining table....
...Among the bigger companies are Copart and Insurance Auto Auctions, which auction off junked cars; LKQ, which sells salvaged parts to repair shops and retail customers; and Boyd Group Services, which buys...
...Part of the reason behind the takeover, which Schaeffler said would by 2029 lead to synergies worth €600mn a year, was a desire to “simplify” the company’s shareholder structure, with the family giving up...
...“China imposes restrictions on American autos and other foreign autos operating in China,” Biden added....
...Companies that cannot respond to the changes will be wiped out,” said Honda’s president Toshihiro Mibe....
...Lotus came into the Geely fold in 2017, as part of a deal to invest in Malaysian owner Proton. After taking a 51 per cent stake, Geely poured £3bn into the once-sleepy business....
...Another possibility is for companies to spin off part of their business to list in the US. Again, this is only applicable to a few and might reduce the liquidity of a company’s main European listing....
...Citi was also a leader on a $310mn loan to Sunbit, a buy-now, pay-later company that specialises in auto repair shops and dentist offices....
...“We will shut down parts distribution until those two companies come to their senses,” he added....
...“Auto businesses share a sense of crisis,” said chief executive Shuji Ogawa, that EVs have put engine parts makers in a plight....
...Autos are just one part of a wider industrial framework within which, for decades, developed economies have relied on China as an inexpensive and collaborative manufacturing hub....
...Fewer parts, fewer parts in the power train. And so the UAW itself has estimated in the past that, you know, as many as 35,000 jobs could be lost as the shift happens....
...Forvia, which ranks itself as the world’s seventh biggest auto technology supplier, said it was clamping down on costs in Europe in part to cope with “the arrival of newcomers from Asia.”...
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