Bernie's Feed
Jan 28, 2014

Honda becomes first Japan automaker to be net exporter from U.S.

By Bernie Woodall

(Reuters) – Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) last year exported more cars out of the United States than it imported into the country, claiming a first among major Japanese automakers.

More than 30 years after it began building cars in the U.S., the company’s North American arm said it shipped 108,705 Honda and Acura brand vehicles out of the U.S. in 2013. The company imported 88,537 vehicles into the U.S. from Japan.

Jan 23, 2014

U.S. labor board recommends dismissal of allegations against VW, UAW

DETROIT (Reuters) – The general counsel office of the U.S. National Labor Relations Board has recommended that allegations brought by workers at the Volkswagen AG plant in Tennessee against VW and the United Auto Workers union be dismissed.

The recommendation is expected to be approved by the NLRB’s director of the region that includes Tennessee. That means it is unlikely to rise to the level of a complaint to the five-member board that heads the NLRB, but the workers can appeal the recommendation.

Jan 23, 2014

New GM chief says won’t deviate from predecessor’s plan

DETROIT, Jan 23 (Reuters) – General Motors Co’s new
chief executive, Mary Barra, said on Thursday she has no plans
to deviate from predecessor Dan Akerson’s strategy as GM seeks
profitability everywhere it operates.

“There is no right or left turn,” said Barra, who took the
wheel from Akerson last week as chief of the biggest U.S.
automaker.

Jan 23, 2014

China lifts Johnson Controls revenue above estimates

By Bernie Woodall

(Reuters) – Johnson Controls Inc (JCI.N: Quote, Profile, Research, Stock Buzz) on Thursday reported a fiscal first-quarter profit that met Wall Street expectations and reaffirmed its fiscal 2014 outlook, while sales beat forecasts, helped by higher automobile production, particularly in China.

Revenue rose 5 percent to $10.91 billion, beating expectations of analysts polled by Thomson Reuters I/B/E/S of $10.73 billion.

Jan 17, 2014

Chrysler CEO insists Jeep can hit 1 million sales in 2014

DETROIT (Reuters) – Now that Italy’s Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz) has almost closed its deal to buy the portion of Chrysler it does not already own, one of the main items on the to-do list of Chief Executive Officer Sergio Marchionne is expanding the global reach of the Jeep brand.

And Marchionne, the CEO of both Fiat and Chrysler, wasted little time this week in making a prediction that some analysts regard as bold: Jeep will achieve its goal this year of selling 1 million sport utility vehicles around the world.

Jan 15, 2014

UAW chief upbeat on VW organizing drive, 2015 contract talks

DETROIT, Jan 15 (Reuters) – United Auto Workers President
Bob King said on Wednesday that he is confident the U.S. union
will be able to organize workers at the Volkswagen AG
plant in Tennessee by the time he leaves office in
June.

King said talks with Volkswagen officials are continuing
apace, but he did not say when or if a vote by the plant’s
workers will be held.

Jan 14, 2014

Chrysler CEO pressures Canadians on minivan investment

DETROIT/TORONTO, Jan 14 (Reuters) – The chief executive
officer of Chrysler Group LLC, which is planning to invest more
than $1 billion to modernize a Canadian minivan plant, said on
Tuesday it could scrap the upgrade and move production and jobs
elsewhere if government and labor officials fail to come through
with financial incentives.

To keep production at the assembly plant, across the river
from Detroit in Windsor, Ontario, Chrysler must get a deal to
cut costs, Sergio Marchionne told reporters at the Detroit auto
show.

Jan 13, 2014

Marchionne to stay as Fiat-Chrysler CEO until at least 2017

DETROIT/MILAN (Reuters) – Sergio Marchionne has pledged to stay on as chief executive of Fiat-Chrysler for at least three years to see through the full merger of the Italian carmaker and its U.S. business, and a new strategy to turn around its loss-making operations in Europe.

Marchionne, who took the helm of Fiat a decade ago and in 2009 also started running Chrysler, had previously said he could step down in 2015 and some analysts feared uncertainty over his future at the combined company could cloud its prospects.

Jan 13, 2014

Fiat’s Marchionne to stay on for at least 3 years

DETROIT/MILAN (Reuters) – Sergio Marchionne will remain the chief executive of Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz) for another three years at least, Chairman John Elkann said on Monday, ending speculation that the architect of landmark deal with Chrysler may soon retire.

Marchionne, who took the helm of Fiat a decade ago and in 2009 also started running Chrysler, had previously he could step down in 2015.

Jan 13, 2014

Chrysler trumpets shared design with Fiat as Chrysler 200 debuts

DETROIT, Jan 13 (Reuters) – The Chrysler 200 mid-sized sedan
to be rolled out this week at the Detroit auto show will be the
third model built on the same European-based vehicle
architecture by Chrysler Group LLC, as the company moves forward
with a design strategy focused on slashing development times and
costs.

Chrysler and its Italian parent, Fiat SpA, are
playing catch-up with other global automakers such as crosstown
rivals General Motors Co and Ford Motor Co in
developing cost-cutting shared architectures.