Bidders at Mecum auction revved up spending
Marengo, Ill.-based Mecum Auctions Inc. recorded vehicle sales in Indianapolis of more than $47 million, versus $41.7 million in 2010.
Auto Industry
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Government to lose $14B of auto bailout funds
The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry, a third of the loss officials had initially estimated.
Electric vehicles gain traction in region
Indianapolis has one of the highest concentrations of plug-in electric vehicle drivers in the nation, an industry official says.
Kokomo, Marion team up to draw auto jobs
Two central Indiana cities with deep roots in the auto industry are launching a new cooperative agreement aimed at attracting more automotive manufacturers and suppliers to the area.
Honda set to bump up production, except in Indiana
Honda's North American factories will return to near-normal production at most plants in August, the company said Thursday. However, full production of the Honda Civic, which is built at plants in Indiana and Ontario, might not resume until the end of the year.
Ener1 stock takes beating after Think write-down
The battery maker has been hurt by slow sales of electric car manufactured in Elkhart.
GM winding down operations at local metal-stamping plant
More than half of hourly employees have already retired or accepted transfers to other GM facilities.
Honda to cut production of new Civic, other models
Honda Motor Co. warned U.S. dealers Monday that it will run short of popular models such as the Civic compact later this summer because of parts shortages caused by Japan's earthquake.
Allison Transmission prepares to enter nascent hybrid market
The industry is waiting for the magic combination of high fuel prices and government-backed incentives to turn potential into profit.
Think hopes to boost sales through Indiana rebate
Electric car maker Think hopes to kick-start sluggish sales through a rebate program available only to Indiana residents.
Navistar recalling workers at Indianapolis plant
Navistar has recalled 120 workers who were laid off when Indianapolis Casting Corp. stopped production at the facility in late 2010 and plans to recall 30 more of those workers by June.
Toyota extends North American production cuts
Toyota Motor Corp. has extended production cuts at its North American factories into early June as it struggles to deal with parts shortages caused by the earthquake that hit Japan.
Steel Dynamics’ quarterly profit jumps 63 percent
Steel Dynamics earned $105.9 million, compared with $65 million in the year-ago quarter. Revenue rose 30 percent, to $2 billion. Analysts were looking for $1.91 billion.
Battery maker drops Indianapolis president
Battery maker Ener1 Inc. has fired Chief Operating Officer Rick Stanley, who was also president of the company's Indianapolis-based operation, EnerDel Inc.
Subaru plant plans 4-day production halt on one line
Subaru of America is halting production on one of its Lafayette plant's production lines for four days due to a parts shortage caused by Japan's devastating earthquake and tsunami.
Toyota in Indiana to work through production slowdowns
Toyota Motor Corp. announced Friday that its Indiana plant in Princeton will operate on a reduced production schedule in the coming weeks, but employees will not lose work because of it.
Cummins spurs launch of mechanical engineering program
This fall, Indiana University-Purdue University at Columbus will roll out its first four-year mechanical engineering program.
Cummins Inc. plans to add 2,500 new jobs in U.S.
The Columbus-based engine manufacturer says it is hiring across the board to meet strong demand worldwide and in anticipation of an economic recovery.
Trucking industry upswing may draw investors to Allison IPO
Allison Transmission is not a household name like Google or General Motors, but it won’t lack an audience for its planned $750 million initial public offering.
CEO says transformation prepped Remy International for IPO
Remy’s transformation since 2007, when a $700 million debt load propelled it into bankruptcy court, could be fodder for business-school case studies of the 21st century.