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tier-1

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    GM agrees to terms to sell Nexteer steering operations to China's PCM
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    General Motors reports that it has come to an agreement to sell its Nexteer steering operations. Nexteer, which had $6.2 billion in revenue as recently as 2008, was acquired by GM as part of a deal to help Delphi exit bankruptcy. The buyer? Pacific Century Motors, which is part of The Tempo Group ...

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    WSJ: Obama nixes auto suppliers' request for aid
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    According to The Wall Street Journal, President Obama has taken a pass on granting auto parts suppliers' request for $10 billion in aid, leaving the financially-strapped companies to seek succor from Congress instead.While the president's administration says it will keep a wary eye on the state of ...

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    BREAKING: Visteon reportedly files for Chapter 11 bankruptcy
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    According to Automotive News, Visteon Corp. has filed for Chapter 11 bankruptcy protection. The Michigan-based tier-1 supplier was spun off from the Ford Motor Company back in 2000, and it has struggled ever since. The filing took place in a Delaware courtroom, where the company has listed total ...

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    STUDY: Toyota and Honda supplier relations suffer while Ford, GM improve
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    In the latest installment of an annual supplier relations survey put together by Planning Perspectives, Honda and Toyota have upheld their top positions in spite of suppliers describing downgrading them to merely "adequate." Still above average in supplier relations rankings (along with Nissan), ...

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    REPORT: Visteon books $2M profit. Delphi makes $556M. Wait... wha?!
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    When is a profit not a profit? When it's the result of bankruptcy prevention measures, like Visteon's report of a $2 million profit during the first quarter of 2009. The auto supplier is reporting that each share earned two cents during the period, compared to a $105 million loss last year. The ...

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    Delphi reaches agreement on buyouts with UAW, GM
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    Delphi has reached a buyout agreement with the United Auto Workers and General Motors. Announced Friday, the deal will extend buyout offers to each and every hourly worker, giving all UAW-represented employees (around 22,000 out of 31,000 Delphi employees)  a chance to bail with a safety net. ...

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    General Motors actively reducing Delphi parts count
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     Bo Andersson, General Motors' vice president of global purchasing admits that the automaker is actively working to reduce its dependence upon bankrupt Tier-1 supplier Delphi. In fact, GM held a meeting with a number of different companies to ask who would like to make up for the ...

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    Toyota urges more cooperation with suppliers
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    Toyota North American senior VP Dennis Cuneo said at a recent conference in Detroit, Michigan that automakers must cooperate more with their parts suppliers. In his declaration, he noted that 10 of Toyota's 15 suppliers are currently in bankruptcy. Such situations point to automakers' ...

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    Is Delphi's bankruptcy a strategy for growth?
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    Could Delphi's bankruptcy be a strategic long-term move by the parts maker? According to Business Week, Delphi has only declared bankruptcy for its U.S. operations-- overseas facilities in Mexico, China and other countries are not affected. If the unions and Delphi don't reach a compromise ...

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    GM looking for potential buyers of Delphi "non-core" business units
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    With Delphi's recent announcement that it will close over twenty plants in the US, and dramatically slim its number of "core competencies," General Motors is not just looking for new sources for business that Delphi wants to dump - it's trying to talk its best suppliers into ...

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