North American carmakers want rules of origin untouched-Mexico lobby

By Anthony Esposito and Sharay Angulo MEXICO CITY, May 23 : The auto industries of the United States, Canada and Mexico agree there should be no changes to rules of origin in the North American Free Trade Agreement (NAFTA), the president of the Mexican automakers’ association said on Monday. Under the trade deal between the […]

Four carmakers settle claims over Takata inflators for $553 mln

By David Shepardson WASHINGTON, May 18 : Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million recalled vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday Toyota Motor Corp’s share of the settlement costs is $278.5 million, followed by […]

Reports of large-scale Ford job cuts meet indifference on Wall St

By David Shepardson and Nick Carey WASHINGTON/DETROIT, May 16 : Investors on Tuesday shrugged off media reports that Ford Motor Co will announce plans to cut thousands of white-collar workers, highlighting the challenges facing Chief Executive Mark Fields. Fields, whose nearly three years at the helm have been marked by a languishing share price, is […]

Absent from America, French cars drive into Iran election

By Bozorgmehr Sharafedin, Laurence Frost and Edward Taylor LONDON/PARIS/FRANKFURT, May 16 : French carmakers PSA and Renault are turning their U.S. absence into an Iranian advantage by piling into a resurgent market still off-limits to foreign rivals fearful of sanctions under Donald Trump’s administration. The French investment has been seized upon by Iranian President Hassan […]

Ford to cut North America, Asia salaried workers by 10 pct – source

By David Shepardson and Nick Carey WASHINGTON/DETROIT, May 16 : Ford Motor Co plans to shrink its salaried workforce in North America and Asia by about 10 percent as it works to boost profits and its sliding stock price, a source familiar with the plan told Reuters on Monday. A person briefed on the plan […]