8 Articles
GM agrees to terms to sell Nexteer steering operations to China's PCM

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 with ties to the government in Beijing.

WSJ: Obama nixes auto suppliers' request for aid

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.

BREAKING: Visteon reportedly files for Chapter 11 bankruptcy

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 assets of $4.58 billion and total debt of $5.3 million.

STUDY: Toyota and Honda supplier relations suffer while Ford, GM improve

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), previously Japan's two largest automakers were ranked "good to very good." Honda is still gets top marks for involving suppliers in product developme

REPORT: Visteon books $2M profit. Delphi makes $556M. Wait... wha?!

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 company's books saw a gain after sending its British operations into Chapter 11, an occurrence that will not be repeated. The one-time nature of the accounting measures doesn't bode well for the next thre

Nissan requests environmental reports from all global suppliers

As part of Nissan's Green Program 2010, Nissan hopes to reduce 2010 carbon dioxide emissions from global manufacturing to 7 percent below 2005 levels. In order to make this goal a reality, Nissan is requesting environmental reports from every one of their Tier 1 and Tier 2 suppliers which must include the supplier's

Is Delphi's bankruptcy a strategy for growth?

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 later this year, and bankruptcy courts approve the company's request to void its union contracts, only 7,000 of the 32,000 union members would be retained. Production would then be shouldered by

GM looking for potential buyers of Delphi "non-core" business units

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 purchasing complete business units from the bankrupt supplier. This according to GM purchasing chief Bo Andersson, who shared the news at a supplier meeting set up by the&nbs