Ford surprises with $1B quarterly profit
Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with a profit of
nearly $1 billion in the third quarter.
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Cummins reports plunge in profit, revenue
Cummins Inc. said profit for its fiscal third quarter fell 59 percent and sales dropped by 31 percent compared to the same
period last year, though the company said its profitability and cash position improved from the second quarter.
Chrysler returns $5.5M in bonds to Tipton County
Chrysler has returned $5.5 million in bonds to an Indiana county to settle a dispute over millions of dollars the county spent
toward a transmission plant that a Chrysler supplier stopped building last year.
GM to draw government funds for Delphi costs, source says
General Motors Co. will announce later this week that it will draw from its government funding to pay the cost of buying a
chunk of troubled parts supplier Delphi Corp., a person briefed on the company’s finances said Wednesday.
Iconic Hummer brand sold to Chinese manufacturer
Hummer, the off-road vehicle that once epitomized America’s love for hulking trucks, is now in the hands of a Chinese heavy
equipment maker.
Accuride restructuring under Chapter 11 bankruptcy
Evansville-based Accuride Corp. filed for Chapter 11 bankruptcy protection Thursday as part of a restructuring of debt.
Delphi emerges from Chapter 11 after 4 years
Auto parts supplier Delphi finally exited bankruptcy protection on Tuesday nearly four years to the day it filed for Chapter
11.
Subaru factory in Indiana rolls out 3 millionth vehicle
Workers at a Subaru plant in central Indiana cheered as its 3 millionth vehicle reached the end of the production line.
Renewable-energy firm eyeing Tipton County plant
A renewable-energy firm is considering manufacturing solar panels in an empty Tipton County plant where transmissions were
to be built for Chrysler automobiles, according to the Kokomo Tribune.
GM to add shifts at 3 sites, including Indiana
General Motors Co. will go to 24-hour operations at factories in Kansas, Michigan and Indiana to make up for production lost
due to a large-scale factory consolidation announced earlier in the year.
Honda starts exporting cars from Greensburg
The Honda plant in southern Indiana that started production last year is now building cars for export from the United States.
Fort Wayne worried Navistar may move truck center
Fort Wayne officials are concerned they won’t be able to persuade Navistar against moving its truck design center to suburban
Chicago.
Lithium-ion battery maker names new president
EnerDel, an Indianapolis-based producer of automotive lithium-ion batteries, has named a new president, the company announced
today.
Auto supplier set to accelerate with seat-control software
A company founded by a Westfield chiropractor is in talks to license to automakers software that’s designed to produce
a less-fatiguing ride. Comfort Motion Technologies also wants to make aftermarket versions of the software as add-on modules
that could be used in most any car with a power seat.
Region’s expertise in hybrid cars goes beyond high-profile players
Bright Automotive and EnerDel are well known for their development of components for hybrid cars, but the region has several
other players poised to be big players in the sector. In fact, few realize that North America’s largest producer
of electric motors for hybrid vehicles is based northeast of Indianapolis, in Pendleton.
Cummins moving some operations to Mexico
A filtration division of Columbus-based Cummins Inc. will move a large portion of its North American assembly operations to
a plant in Mexico to keep the business competitive, the company said today.
EnerDel lands $118 million stimulus grant
EnerDel, an Indianapolis-based producer of automotive lithium-ion batteries, will receive $118.5 million in a matching grant
from the federal government.
125 workers at Indianapolis GM plant take buyout offer
More than 125 people at General Motors Corp.’s metal-stamping plant in Indianapolis have signed up for buyouts or early-retirement
packages that are worth as much as $115,000 in cash per worker, a union official said this morning.
Automotive industry’s fall dilutes manufacturing jobs
The fact that Indiana is shedding manufacturing jobs is well-known, but you can thank a neighbor to the north for keeping track of every last one. The Milwaukee Journal-Sentinel reported recently that Wisconsin had taken the top spot, ahead of Indiana, in terms of the portion of employment in manufacturing—15.6 percent, versus Hoosiers’ 15.4 percent.
LIPPERT: GM woes strike close to home
As someone who grew up in Michigan during the 1960s and 1970s, watching General Motors Corp. self-destruct was like seeing a loved one make bad decisions then watching him suffer the consequences.