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Two Execs Appointed to PACCAR Board

PACCAR this week has announced the appointment of two new executives to its board of directors.

Cummins Revises 2008 Outlook to Reflect Worsening Economic Conditions

The company also announced last week that it will reduce its professional workforce worldwide by at least 500 employees by the end of 2008.

Congress Discusses ‘Cash for Clunkers’ Program; ASA Calls for Repair Option

The ‘Cash for Clunkers’ policy has been discussed during testimony before the House of Representatives Committee on Financial Services, included in draft climate legislation by the House Committee on Energy and Commerce, and proposed by General Motors Corp. in its business plan submitted to Congress.

EPA Finalizes Rule Requiring Availability of Heavy Duty Service Information

The new rule further requires that engine manufacturers make available all emission-related service information available to independent repair facilities over websites.

AutoZone First Quarter Sales Increase 1.6 Percent

Operating income for the quarter increased $1.2 million, or 0.5 percent, over the same period last year to $238.5 million, while diluted earnings per share increased 10.1 percent to $2.23 per share from $2.02 per share in the year-ago quarter.

Executive Interview with Jim Franco, CEO of Autologue Computer Systems

In our most recent Executive Interview with Jim Franco, CEO of Autologue Computer Systems, Franco shares his take on the current crisis in the auto industry and what he sees as the many opportunities available for the industry.

Gentex Revises Guidance for the Fourth Quarter; Also Announces a Reduction in Its Workforce

CSM Worldwide’s forecast for light vehicle production in calendar year 2009 continues to worsen on a monthly basis, according to Gentex.

Cummins to Reduce Global Workforce by 500 in Response to Global Economic Slowdown

The employee reductions will come from all parts of the company, Cummins said.

TRW Automotive Withdraws Full-Year 2008 Guidance on Continued Weakness in Global Automotive Markets

In recent weeks, and subsequent to providing the 2008 full year guidance on Oct. 30, both actual and forecasted levels of vehicle production in global automotive markets have declined beyond previously forecasted levels.

Hayes Lemmerz Reports Third Quarter Sales of $497 Million

For the third quarter, Hayes Lemmerz reported a net loss of $10.4 million, compared with a net loss of $62.7 million in the year earlier quarter.