Johnson Controls International is nearing a deal to sell its power solutions business, which makes car batteries, to Brookfield Asset Management Inc. for $13 billion-$14 billion, people familiar with the matter told Reuters.
AutoNation’s third-quarter net income rose on gains in the company’s parts and service, used-vehicle and FandI businesses. The dealership group also announced a strategic investment in online used-car retailer Vroom.
Volkswagen CFO Frank Witter said the carmaker was open to deeper alliances with outside companies, particularly in the area of autonomous driving, where Google’s Waymo is seen to be an industry leader.
Palladium’s surge to a record has intensified talk among analysts that carmakers will look to replace it with cheaper platinum for use in pollution-control devices. The auto industry’s answer: Not so fast.
VW Group was weighed down by weaker vehicle sales and headwinds tied to the introduction of more stringent WLTP emissions rules in Europe.