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Losses increase at Delphi

Bankrupt Delphi Corp., the leading American auto-parts maker, said its fourth-quarter loss increased to $853 million due to costs to reduce its unionized workforce, according to the Detroit Free Press. The Troy-based company, which said sales fell 5.9% to $6.4 billion, was spun off from General Motors Corp. in 1999 and is cutting costs in an effort to emerge from bankruptcy protection.

Posted by   at 11:19 AM | Permalink | Comments 0

Toyota to build 8th U.S. plant in Mississippi

Toyota plans to invest $1.3 billion to build its eighth North American assembly plant in Blue Springs, Miss., according to the New York Times. The plant will employ 2,000 workers, the company said. Production, slated for the Highlander, is expected to begin in 2010 and reach 150,000 vehicles annually.

Posted by   at 10:50 AM | Permalink | Comments 0

DaimlerChrysler okays deal with China's Chery Motor

Even as it's getting shopped around, Chrysler closing in on deal to bring Chinese-made cars to the United States, according to a report in today's USA Today. DaimlerChrysler approved a deal to team with Chery Motor to develop small cars that could be sold in the USA and Europe.

Posted by   at 10:35 AM | Permalink | Comments 0

Ford in dispute with diesel maker

Ford's diesel engine supplier, International Truck and Engine, has quit shipping the engines as of last Thursday, according to a report in Tuesday's USA Today as a result of a warranty dispute. The paper quotes International spokesman Roy Wiley: "They haven't paid us. We can't continue to build excess inventory. We're a just-in-time manufacturer." International shut its Indianapolis engine plant on Monday, idling 1,200 workers and Ford said it may halt production of its F-Series trucks.
The dispute goes back to problems with 6-liter diesels that International supplied for previous Ford heavy-duty trucks beginning in 2002, the paper said.

Posted by   at 9:45 AM | Permalink | Comments 0