Bosch Sales Increase 8 Percent in North America
The Bosch Group increased its North American sales by more than 8 percent in 2005, reaching $8.4 billion. Final results indicate strong growth in all three of the company’s business sectors — Automotive Technology, Industrial Technology, and Consumer Goods and Building Technology, according to the company. Global Bosch Group sales grew 6.4 percent in 2005, to $51.7 billion.
BorgWarner Reports Record Sales in the First Quarter
BorgWarner posted solid results for the first quarter of 2006. “Despite the uncertainty facing the industry, BorgWarner continues to deliver,” said Tim Manganello, chairman and CEO. “Our results were driven by our technology that is targeted at improvements in fuel economy, emissions reduction and vehicle performance, the fastest growing parts of the market.
Jeff Simmons to Drive for Team Ethanol in Place of the Late Paul Dana
The ethanol legacy will live on with the Indy Racing League (IRL). Rahal Letterman Racing, one of the leading open-wheel race teams in North America, announced yesterday the selection of Jeff Simmons as the driver for the No. 17 Team Ethanol Honda/Panoz/Firestone car. Simmons will replace Paul Dana who died in a practice accident March 26.
Fuel-Economy Guidelines Raised
Tougher fuel-economy standards for light trucks announced by the federal government Wednesday will affect a batch of large sport-utility vehicles being built by General Motors. But with rising gasoline prices, experts say GM has already been boosting the fuel efficiency of its models and is preparing to build a hybrid SUV in late 2007.
Smaller Auto Parts Suppliers Find Strength in Numbers
Mergers and acquisitions are helping automotive parts suppliers survive tough times, a new industry report says. But unlike the frenzy of highly publicized mega deals in the 1990s, many of the current mergers and acquisitions are smaller and more focused, said Mark Short, author of the report from the Ernst & Young Global Automotive Center in Troy, MI. In some cases, small and midsize companies are pairing up to take business away from larger competitors.
The Little Hybrid Engine that Could
One of the most impressive cars at last week’s Philadelphia Auto Show doesn’t come from Japan, Germany or Detroit. It came from the auto shop at West Philadelphia High School. The car — designed and built by students in the school’s Academy for Automotive and Mechanical Engineering — delivers more horsepower than some Porsches and gets gas mileage comparable to a Toyota Prius. It runs on fuel made from soybeans.
Tenneco Wins New Exhaust Aftertreatment Business With International Truck and Engine Corp.
Tenneco has been awarded a contract with International Truck and Engine Corp. to supply exhaust aftertreatment systems for its entire line of medium-duty diesel vehicles with International engines, launching in 2007. The contract is Tenneco’s first in North America for diesel emission control technologies for the medium-duty commercial vehicle segment.
Behr Returns to 2006 SAE World Congress
After a four-year absence, Behr America, a leading supplier of automotive engine cooling and air-conditioning systems, will return as an exhibitor to the SAE World Congress this year in Detroit (April 3-6 at Cobo Center).
Lubrizol Sells Engine Control Systems Business
The Lubrizol Corp. has signed an agreement for the sale of its Engine Control Systems (ECS) business to CapitalWorks, an equity firm based in Cleveland, OH. Grace Matthews, Inc. advised Lubrizol on the transaction. ECS has facilities located in Canada, the U.S. and Sweden. This is Lubrizol’s third divestiture since it announced its intent in July 2005 to market non-core businesses with combined revenues of $500 million.
Study Shows Chinese Auto Industry Expanding, Facing Challenges
A new study released by IBM and the University of Michigan Transportation Research Institute’s Office for the Study of Automotive Transportation (OSAT) reveals the Chinese automotive industry is facing a number of significant challenges as it continues its expansion. The need to adapt to a market economy, a lack of technology and knowledge transfer from joint ventures, and infrastructure, air quality and oil supply challenges all combine to create an uncertain future for the Chinese automotive industry, according to the study.