Menu
Filters
Your Selections
    [clear all]
    Asset
    Published
    Service
    Topical Categories
    Supplier
    OEM
    Region/Country
    Lear’s Q3 net income declines 14.5% y/y to USD215.9 million
    Lear’s net income declined 14.5% year over year (y/y) to USD215.9 million in the third quarter ended 30 September 2019, the US-based automotive supplier said in a press release on 25 October. Sales dropped marginally by 1% y/y to USD4.82 billion, reflecting lower production on Lear’s platforms a...
    Lear appoints Jason Cardew as CFO
    Lear Corporation, a manufacturer of automotive seating and electrical and electronic systems, has appointed Jason Cardew as senior vice president and chief financial officer (CFO), effective 1 November 2019, according to a company press release on 1 October. Cardew will report to Ray Scott, Lear’s...
    Xevo ties up with Hyundai Motor for in-vehicle commerce in US and Europe
    Lear Corporation has announced that its automotive software company Xevo has tied up with Hyundai Motor to deliver Xevo Market capabilities in Hyundai vehicles in the US and Europe, according to its press release on 5 September. The platform will allow customers with compatible Hyundai vehic...
    09-Sep-2019 News New Products
    Lear appoints Carl Esposito as president of E-System
    Lear Corporation has appointed Carl Esposito as senior vice-president and president of its E-Systems business, the US-based supplier said in a press release on 14 August. Esposito will join Lear on 3 September 2019 and report to the company’s president and CEO, Ray Scot. Esposito has more than ...
    Lear’s Q2 net income falls 44.8% y/y to USD182.8 million
    Lear has reported a 44.8% year-over-year (y/y) decline in net income to USD182.8 million for the second quarter ended 29 June 2019, the US-based supplier said in a press release on 26 July. Net sales for the period were down 10% y/y to USD5 billion. Lear recorded core operating earnings of USD351.6 ...
    Lear reports preliminary financials for Q2 2019; sales down 10% y/y
    Lear has announced preliminary results for the second quarter ended 30 June 2019. According to a company press release on 16 July, the company expects second quarter sales to be approximately USD5 billion, down 10% year-on-year (y/y) and a decline of 7% excluding the impact of foreign exchange and a...
    Lear Innovation Ventures partners with Plug and Play Silicon Valley
    Lear Corp. and Plug and Play, a global startup accelerator and corporate innovation platform, have announced a strategic partnership focused on advancing mobility innovation in the automotive industry, Lear said on 13 June. The partnership will be co-ordinated through its Silicon Valley office of Le...
    Lear to close electrical systems plant in US state Michigan
    Automotive seating supplier Lear plans to permanently close its plant in Taylor, Michigan, United States, according to a report by Crain’s Detroit Business on 11 June. The move is expected to affect 76 employees. The company expects to close its Taylor Plant by 21 October, according to the report ...
    Lear showcases synergies between Xevo Market and Exo Technology at TU Automotive Detroit 2019
    Lear has showcased synergies between Xevo Market and Exo Technology at the TU Automotive Detroit 2019, held in Novi, Michigan, the company said. Xevo Market is an automotive commerce and service platform that connects consumers with their favorite brands through in-vehicle touch screens and mobile a...
    07-Jun-2019 News New Products
    Lear partners with CARMERA to enhance EXO vehicle positioning technology
    Lear has signed CARMERA, a firm specializing in in real-time, high-definition (HD) maps for autonomous mobility, as a development partner in its EXO Technology Partnership Program, the US-based automotive seating and electrical systems supplier said in a press release on 29 May. Lear’s EXO Technol...
    Lear’s Q1 net income down 35.2% y/y to USD228.9 million
    Lear has reported a 35.2% year-over-year (y/y) decline in net income to USD228.9 million for the first quarter ended 31 March 2019, the US-based supplier said in a press release on 26 April. Net sales for the period were down 10% y/y to USD5.2 billion. Lear recorded core operating earnings of USD378...
    Lear completes acquisition of automotive software supplier Xevo
    Lear has completed the previously-announced acquisition of automotive software specialist Xevo, the company said in a press release on 17 April. The acquisition significantly expands Lear’s capability in software, services and strengthens its presence in vehicle connectivity. Xevo offers two ke...
    Connected Gateways Market – A Review of The Current Situation
    Automobiles used to be very simple, with electrics covering all but the basics with lighting and ignition. Over time, and with the development of integrated circuitry, electronics entered the vehicle with single wires being used as control lines between switches and actuators. Modern vehicles featur...
    Lear signs definitive agreement to acquire connected car software developer Xevo
    Lear has entered a definitive agreement to acquire Xevo, a US-based firm specializing in connected car software, for USD320 million, the company said in a press release on 2 April. The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close in t...
    Seating Subsystem Lightweighting
    The seating subsystem in the interiors component area is estimated to account for more than 40% of the total component area weight and up to 6% of the total vehicle weight. In terms of additional comfort and luxury features, one of the first targets for OEMs is to improve the driving experience even...
    Lear invests in Israel-based Maniv Mobility Venture Capital Fund
    Lear has invested in Maniv Mobility, an Israel-based venture capital (VC) fund dedicated to investing in new mobility technologies, the company said in a press release on 11 March. The US-based supplier invested in Maniv Mobility through its wholly owned subsidiary, Lear Innovation Ventures (LIV) Po...
    Lear’s JV Integrated Manufacturing & Assembly plans to lay off 175 employees at Detroit plant
    A joint venture (JV) of Lear – Integrated Manufacturing & Assembly (IMA) – will lay off 175 employees at a manufacturing plant in Detroit, United States. On 6 February, IMA, a supplier of automotive seating systems, filed a letter to the state of Michigan stating that "due to a program loss,...
    Automotive Cabin Comfort – The rising application of seat thermal management
    In automotive design, passenger comfort is a central element along with the other performance and efficiency parameters. Manufacturers invest a lot of resources to ensure the highest degree of ambiance, ergonomics, and user experience for the occupants. Extreme seasonal swings in ambient temperature...
    Lear’s FY 2018 net income down 12.4% y/y to USD1.1 billion
    Lear has reported a 12.4% year-over-year (y/y) decline in net income to USD1.14 billion for the fiscal year ended 31 December 2018, the US-based supplier said in a press release on 25 January. Net sales for the period were up 3.3% y/y to USD21.1 billion. Lear recorded core operating earnings of USD1...
    Lear launches ‘Lear Innovation Ventures Possibilities’ to develop intelligent solutions
    Lear launched a separate division called 'Lear Innovation Ventures (LIV) Possibilities' to focus on product, process, and business model innovation, the company announced in a press release on 8 January. LIV Possibilities is led by the company’s chief technology officer (CTO) John Absmeier. "We...
    Lear signs Hyundai-Kia as development partner in 'EXO Technology Partnership Program'
    Lear has signed Hyundai-Kia America Technology Center (HATCI) as its first development partner in its ‘EXO Technology Partnership Program’, the US-based automotive seating and electrical systems supplier said in a press release on 9 January. Lear’s EXO Technology Partnership Program is a colla...
    Gentherm, Lear partner to jointly develop thermal seating solutions
    Gentherm and Lear have announced a strategic partnership to develop thermal seating solutions, according to company press releases on 8 January. Under the partnership, highly integrated, modular heat and cool solution for Lear’s ‘Intu’ seating system will be developed. “Our strategic collabo...
    Electronics component consolidation on the rise
    The automotive industry is facing immense pressure from end users for more features at lower costs. This has created an opportunity for industry players to innovate and change the electronic architectural design in several areas of the vehicle. Modern cars consist of several electronic control un...
    CES 2019: Rinspeed’s concept vehicle to feature Lear's ‘Intu’ intelligent seating system
    Lear has announced a collaboration to integrate its ‘Intu’ intelligent seating system in Rinspeed AG all-electric autonomous concept vehicle ‘microSNAP’, the company announced in a press release on 7 January. "At Lear, we understand how important it is to create a driving experience that dyn...
    Lear’s Q3 net income down 14.4% y/y to USD252.5 million
    Lear has reported a 14.4% year-over-year (y/y) decline in net income to USD252.5 million for the third quarter ended 29 September 2018, the US-based supplier said in a press release yesterday (25 October). Net sales for the period were down 1.8% y/y to USD4.89 billion. Lear recorded core operating e...
    Lear opens new plant in US to manufacture seats
    On 11 August, Lear held an opening ceremony for a new plant in Flint, Michigan (United States), the US-based supplier said in a press release yesterday. The 156,000-square-feet plant will produce seats for just-in-time delivery to General Motors’ (GM) vehicle assembly plants in Flint and in F...
    14-Aug-2018 News Investments
    EDITORIAL – Investments in connectivity and electrification technologies to drive growth of Lear’s E-Systems business
    Last week, Lear held an ‘Investor Day’ event in Michigan (United States) outlining its future growth strategy for the next five years. The company forecasts its sales to grow at a compound annual growth rate (CAGR) of around 7% to USD30 billion by 2023, compared with USD22 billion expected this ...
    Lear appoints John Absmeier as CTO
    Automotive seating and electrical systems supplier Lear has appointed John Absmeier as its chief technology officer (CTO), according to a company press release yesterday (5 June). Absmeier will assume the newly-created role on 18 June, and report to Ray Scott, president and CEO of the company. He wi...
    Lear workers at Canadian plant approve four-year contract
    Unifor-affiliated workers at Lear’s plant in Ajax, Canada, have approved a four-year contract, according to Unifor Local 222 website. The new four-year contract, covering 320 workers, was ratified by a vote of 72 per cent. The approval comes after the Union and management reached tentative agreeme...
    Lear, Unifor reach another tentative agreement to avert closure of Canadian seating plant
    Unifor reached a tentative agreement with Lear at the supplier’s seating plant in Ajax, Ontario (Canada), according to Unifor Local 222 website. “A new tentative agreement has been reached with Lear Ajax. A ratification meeting will take place at 4pm on Friday, May 4 at the Unifor Local 222 Unio...
    Strike continues at Lear’s seating plant in Canada as union members reject tentative agreement
    Workers at Lear’s seating plant in Ajax, Canada continue to be on strike after they voted against the tentative agreement, according to Unifor Local 222 website. Earlier on Tuesday (1 May) morning, the Union Local 222, which represents 320 workers at Lear’s Ajax facility, reported that they reac...
    Lear’s Q1 net income up 15.7% y/y to USD353.7 million
    Lear has reported a 15.7% year-over-year (y/y) growth in net income to USD353.7 million for the first quarter ended 31 March 2018, the US-based supplier said in a press release yesterday (26 April). Net sales for the period were up 14.7% y/y to USD5.73 billion. Lear recorded core operating earnings ...
    Lear expands seating structure manufacturing plant in Portugal
    Lear Corporation has expanded production capacity at its seating structure plant in Valença, Portugal, the company announced in a press release today (21 March). The supplier has added 11,000 square meters of production space and 1,200 square meters of office space. "We're pleased to be able to exp...
    Lear appoints new presidents of Seating, E-Systems business units
    Lear has appointed Frank C. Orsini as executive vice president and president of its Seating division, and Jeneanne M. Hanley as senior vice president and president of E-Systems division, effective immediately, according to a company press release on 1 March. "We are very fortunate to have a deep ...
    Lear’s 2017 net income up 34.7% y/y to USD1.3 billion
    Lear has reported a 34.7% year-over-year (y/y) growth in net income to USD1.3 billion for the year ended 31 December 2017, the US-based supplier said in a press release on 26 January. Net sales for the period were up 10.3% y/y to USD20.5 billion. Lear recorded core operating earnings of USD1.7 billi...
    Impact of Autonomous Driving on Lighting
    Autonomous vehicles (AVs) represent a major innovation for the automotive industry in terms of technology and design. A fully automated-driving system undertakes all aspects of dynamic driving on all roadways and in all environmental conditions, which are usually done by human drivers. The prospect ...
    Lear to buy GPS technology developer EXO Technologies
    Automotive seating and electrical systems supplier Lear has inked a definitive agreement to acquire Israel-based EXO Technologies, a developer of GPS technology for autonomous and connected vehicle applications, the company announced in a press release yesterday (11 December). The company did not di...
    Why are manufacturing locations of wiring harnesses constantly shifting?
    Electric and electronic systems impact almost every part of the car, the powertrain, infotainment, safety, convenience and comfort. The earliest applications of electronics in vehicles were engine and transmission control, but electronics have now penetrated virtually every aspect of the vehicle. Th...
    Lear president, CEO Matt Simoncini to retire in February 2018
    Lear has announced that its president and CEO Matthew (Matt) J Simoncini has elected to retire from the company, effective 28 February 2018, the company said in press release on 16 November. The US-based supplier also announced that Ray Scott, who is currently serving as executive vice president and...
    Lear breaks ground on new seat plant in US
    Last week (1 November), Lear broke ground on a new seat manufacturing plant in Hammond, Indiana (United States), reports The North West Indiana Times. The US-based supplier will invest USD30 million in the new plant that will produce seats for Ford’s new sport utility vehicle (SUV) platforms, star...
    06-Nov-2017 News Investments
    Lear’s Q3 net income up 37.6% y/y to USD295.2 million
    Lear has reported a 37.6% year-over-year (y/y) growth in net income to USD295.2 million for the third quarter ended 30 September 2017, the US-based supplier said in a press release yesterday (25 October). Net sales for the period were up 10% y/y to USD5 billion. Lear recorded core operating earnings...
    Lear breaks ground on new seating facility in US
    On 2 October, Lear broke ground on new seat manufacturing facility in Flint, Michigan (the Unites States), the company announced in a press release. The 156,000-square feet facility will be located on the former site in Buick City complex in Flint. The facility is expected to create 600 jobs when it...
    03-Oct-2017 News Investments
    Lear, Honeywell collaborate on automotive cybersecurity software solutions
    Lear will collaborate with Honeywell to jointly provide automotive software technology and infrastructure solutions to address threats associated with connected and autonomous vehicles development, the two US-based companies announced in a press release on 12 September. The collaboration will result...
    Lear to introduce connectivity technology in Audi vehicles in 2018
    Lear is planning to launch its connectivity technology ‘Connexus’ in Audi vehicles in the fourth quarter of 2018, Automotive News reported on 6 September. The company’s Connexus hardware enables over-the-air updates and vehicle-to-infrastructure (V2I) capabilities in vehicles. After introducin...
    Lear to build new seating plant in US
    Lear has confirmed plans to construct a new automotive seating plant in Flint, Michigan (the United States), the US-based company said in a press release today (23 August). The new plant will manufacture seats on a just-in-time basis for future vehicle production at GM's assembly plant in Flint. The...
    23-Aug-2017 News Investments
    Lear announces closing of USD750 million senior notes offering
    Lear has completed its previously announced senior unsecured notes offering worth USD750 million, according to a company press release last week (17 August). The offering of notes, due 2027, carries a coupon rate of 3.80%. The offering follows the closing of Lear’s new USD2 billion credit agreemen...
    Lear announces pricing for USD750 million senior notes
    Lear has announced pricing for underwritten public offering of senior unsecured notes worth USD750 million, the company announced in a press release on 14 August. The offering of notes, due 2027 and carrying a coupon rate of 3.80%, is expected to close on 17 August 2017, subject to market conditions...
    Lear refinances existing credit facilities
    Seating and electrical systems supplier Lear has ‍entered into a new credit agreement to refinance its existing credit facilities​, according to a company press release yesterday (8 August). The new credit agreement consists of USD1.75 billion revolving credit facility and a USD250 million term ...
    Lear’s Q2 net income up 10% y/y to USD312 million
    Lear has reported a 10% year-over-year (y/y) growth in net income to USD311.9 million for the second quarter ended 1 July 2017, the US-based supplier said in a press release yesterday (26 July). Net sales for the period were up 8% y/y to USD5.1 billion. Lear recorded core operating earnings of USD43...
    Lear starts building new Asia headquarters and technical center in Shanghai
    Lear has started building its new Asia headquarters and technical center in the Yangpu District of Shanghai, China, according to a company press release yesterday (8 May). "The Asia-Pacific region continues to be the largest and fastest growing region of the world. We are very pleased to be building...
    09-May-2017 News Investments
    Lear concludes acquisition of Grupo Antolin's automotive seating business
    Lear concluded the acquisition of Grupo Antolin's automotive seating business last week (28 April), according to a company press release. "We are very pleased to add Grupo Antolin's strong capabilities to Lear's global seating business. This acquisition will further strengthen and diversify Lear's s...
    Lear’s Q1 net income up 23% y/y to USD305.8 million
    Lear has reported a 23% year-over-year (y/y) growth in net income to USD305.8 million in the first quarter ended 1 April 2017, the US-based supplier said in a press release yesterday (26 April). Net sales for the period were up 7.2% y/y to USD5 billion. Lear recorded core operating earnings of USD43...
    Lear plans to close seating cover production facility in Hungary―report
    Lear Corporation, a US-based supplier of automotive seating systems and electrical power management systems, is considering closing its seating cover production facility in northern Hungary, Plastic News Europe reported on 21 April. The shutdown could result in a lay-off of more than 800 workers, th...
    EU approves acquisition of Grupo Antolin's seating business by Lear
    The European Commission (EC) last week (12 April) approved Lear’s acquisition of the seats and metal business of Grupo Antolín-Irausa under the EU Merger Regulation, according to EC website. The EC said that the proposed acquisition is not likely to raise competition concerns given the parties' m...
    Wyoming Department of Transportation in US selects Lear for connected vehicle pilot program
    The Wyoming Department of Transportation (WYDOT) in the United States has selected Lear for a pilot program to improve road safety, the automotive supplier said yesterday (20 March). The seating and electronics supplier will supply advanced connectivity technologies that will allow WYDOT to test and...
    21-Mar-2017 News New Products
    Bosch, Cooper-Standard, Honeywell, Lear, LG Electronics and NXP join Auto-ISAC
    The Automotive Information Sharing and Analysis Center (Auto-ISAC), a secure platform for sharing, tracking and analyzing intelligence about cyber threats and potential vulnerabilities, continues to expand its presence beyond automakers. According to a press release, key suppliers such as Bosch, Coo...
    INTERVIEW: Grupo Antolin acquisition will add to sales and share, says Lear
    Earlier this month, Lear signed a definitive agreement to acquire Grupo Antolin's automotive seating business. In a statement, Lear said that the acquisition is an important step in strengthening its core seating business by further diversifying its global seating sales, and expanding its seat compo...
    EDITORIAL: Consolidation to continue in interiors industry
    Mergers and acquisitions (M&A) remain a core strategy for value creation in the automotive supplier industry. Magna realized it can make better margins in transmissions than interior components, so alongside acquiring Getrag to boost its position in the transmissions market, it also sold its non...
    Lear increases share buyback plan to USD1 billion
    Lear has increased its share repurchase authorization to USD1 billion and extended the deadline to 31 December 2019, according to company press release. In addition, the company also announced an increase of 67% to the quarterly cash dividend from USD0.30 per share to USD0.50 per share. The dividend...
    Lear signs agreement to acquire Grupo Antolin's auto seating business
    US seating supplier Lear has announced that it has signed a definitive agreement to purchase Grupo Antolin's automotive seating business. According to a joint statement, the deal is valued at EUR286 million (USD308 million) on a cash and debt-free basis, with Lear funding the acquisition with cash o...
    Lear’s Q4 2016 net income drops 2.7% y/y to USD229.9 million
    Lear has reported 2.7% year-over-year (y/y) decline in net income to USD229.9 million in the fourth quarter ended 31 December 2016, the US-based supplier said in a press release on 26 January. Lower net income was in line with sales which dropped 1.7% y/y to USD4.6 billion. Despite lower sales, Lear...
    Lear to stop making seats for BMW X5 and X6 – report
    Lear has confirmed that it will cease producing seats for the BMW X5 and X6 in South Carolina, United States. In an interview with Automotive News, Lear CEO Matt Simoncini said the outcome was "a little bit of an unfortunate situation …. We had a great facility and relationship with BMW. And it's ...
    Lear introduces new ‘Crafted by Lear’ team to focus on next generation seating
    Lear has introduced ‘Crafted by Lear’ facility at its Southfield, Michigan (United States), headquarters to focus on the future of automotive seating, says a company press release. The new facility and program were officially launched in Southfield over a month after Lear opened its Innovation C...
    02-Dec-2016 News Investments
    China to provide strongest growth in seating systems market in the next five years
    China is set to become the biggest seat market for Adient over the next five years, according to CEO Bruce McDonald. The company, that previously formed the automotive seating and interiors business for Johnson Controls, is set to take the majority of the country’s seat assembly market according t...
    Lear posts record sales in Q3, increases full-year earnings outlook
    Global automotive supplier Lear has reported record third-quarter 2016 sales, net income and core operating earnings. Sales reached USD4.5 billion, while core operating earnings reached USD364 million, up 14% year on year (y/y). The results led to record operating margin of 8.0%, compared with 7.4% ...
    Lear opens new USD10 million innovation centre in US
    Lear has opened its Innovation Center in Detroit, Michigan (United States), according to a company statement, with a grand opening event held at the downtown location. The company selected an area that is close to universities as well as the automotive industry. President and CEO Matt Simoncini said...
    19-Oct-2016 News Investments
    Mercedes to use wireless charging system from Qualcomm
    Mercedes Benz will use a wireless electric vehicle charging (WEVC) system manufactured by a tier-1 power electronics supplier which will employ Qualcomm’s Halo technology, according to a press release by Qualcomm yesterday (11 October). The new wireless charging feature will be launched along with...
    12-Oct-2016 News New Products
    Lear invests in seat heating and cooling supplier
    Lear announced yesterday (8 September) that it has "entered into a strategic partnership with Tempronics, pursuant to which Lear obtained a minority interest" in the supplier, as well as securing exclusive rights to its thermoelectric seat heating and cooling technology for automotive applications, ...
    Lear appoints Dr. André Weimerskirch as head cyber security, E-System business
    Lear has appointed Dr. André Weimerskirch as vice president of cyber security for its E-Systems business with immediate effect, the US-based supplier said in a press release on 24 August. "We are extremely pleased to add someone with Dr. Weimerskirch's stature and industry expertise in automotive c...
    Lear to build new leather plant in Yangzhou, China
    Lear has announced plans to build a new leather processing plant in Yangzhou, China, says a company press release. To this end, the company has inked an investment agreement with the Administrative Commission of Yangzhou Economic & Technological Development Zone to construct the plant in China. ...
    24-Aug-2016 News Investments
    Central Body Control Module Market Trends
    Electronic content in cars has been steadily increasing since the first digital engine control modules were introduced in the 1980s. Automobiles are becoming more reliant on electronic components, which contribute to 90% of car innovations and new features – from emission level regulations to safe...
    Lear renames electrical division to E-Systems
    Lear has renamed its electrical business segment to “E-Systems.” The US-based supplier announced the change in a company press release, noting that the name change is “intended to reflect the increasing complexity of automotive electrical systems and Lear’s expanded electrical architecture a...
    Lear to expand US facility to supply seats for Mercedes-Benz vehicles—report
    Lear Operations Corp., a subsidiary of US-based supplier of automotive seating systems and electrical power management systems Lear Corp., plans to expand manufacturing capacity at its plant in Vance, Alabama (the United States), reports Tuscaloosanews.com. According to the report, after the expansi...
    08-Aug-2016 News Investments
    Lear aims to offer integrated automotive connectivity technology
    Lear aims to become a key player in the car connectivity solutions market, according to Automotive News. The company plans to develop and ship a modular unit for its automotive customer that allow their vehicles to connect with other cars on the road, with city infrastructure including connected roa...
    05-Aug-2016 News New Products
    Lear’s Q2 net income up 55% y/y to USD282 million
    Global automotive supplier Lear has reported a record second quarter 2016 sales and core operating earnings. Sales reached USD4.7 billion, while core operating earnings reached USD399 million, up 18%. The results led to record operating margin of 8.4%, compared with 7.3% a year before, according to ...
    Lear, Qualcomm sign wireless EV charging license agreement
    Qualcomm Incorporated and Lear Corporation have entered into a Wireless Electric Vehicle Charging (WEVC) license agreement, according to a press release on 27 July. Under the deal, Lear will be including Qualcomm Halo™ WEVC technology in its product portfolio to commercialize WEVC systems for plug...
    Cooper-Standard appoints Christopher E. Couch as vice-president, Innovation and Product Groups
    Cooper-Standard has appointed Christopher E. Couch as vice-president, innovation and product groups, effective 11 July, according to a company press release. Couch will report to Keith Stephenson, executive vice-president and chief operating officer (COO). Couch will lead the company’s i3 Innovati...
    Lear to construct new Asia-Pacific regional headquarters in China
    Lear signed an agreement earlier this week (6 June) to construct an expanded Asia-Pacific regional headquarters and technology complex in the Yangpu District of Shanghai, China, says a company press release. The new building will include expanded administrative infrastructure, a new product and tech...
    Volkswagen (VW) adds more suppliers under FAST initiatives
    Volkswagen Group has added more suppliers under its Volkswagen Future Automotive Supply Tracks (FAST) initiative, the Germany-based automotive group said in a press release last week. The company now has a total of 55 supplier-partners for 61 fields of competence under the initiative. "We now have a...
    Rebirth of interior suppliers
    Automotive interior business has been dragging suppliers’ profitability in recent years, resulting in a number of consolidations. “We would say that the interiors industry overall has reached an inflection point. There have been a number of recent major transactions which have propelled a struct...
    Interview: Maurice Sessel, President of North America, IAC
    Lately, there has been spate of consolidations (divestments, mergers and acquisitions) in the automotive interior space. What are the key reasons why suppliers are divesting their interior assets?   The interiors segment historically has the lowest profit margins compared to the other...
    Lear grows earnings and net income in Q1, increases full-year guidance
    Global automotive supplier Lear has reported a record first quarter core operating earnings of USD387 million, up 32% from the same quarter of 2015, according to a company statement. Sales reached USD4.7 billion, up from USD4.5 billion a year earlier, and the company reported a record core operating...
    Lear opens new leather-cutting plant in Hungary
    US-based automotive supplier Lear officially opened its new leather-cutting plant in Szolnok, Hungary yesterday (21 April), says a company press release. The company said the plant was completed in December last year with an investment of EUR20 million (USD22.6 million). The plant is located opposit...
    22-Apr-2016 News Investments
    International Automotive Components (IAC) appoints Brian Pour as COO
    International Automotive Components (IAC) has appointed Brian Pour as the company’s chief operating officer (COO), the company announced in a press release on 18 April. Prior to his appointment as COO, Pour was senior vice president, Manufacturing for IAC. As COO, Pour is responsible for planning,...
    Lear secures first supply contracts from Maruti Suzuki in India
    Lear has secured a contract from Maruti Suzuki, the leading carmaker India, to supply seating systems for a new model, reports Autocar Professional. “We have not really been involved in a meaningful way with Maruti Suzuki and that is now changing in the structured business,” Jay K Kunkel, senior...
    Mercedes-Benz considers shifting plant capacity to South Africa
    Mercedes-Benz South Africa (MBSA) may shift production of some plug-in hybrid models from parent company Daimler's plants to its South African plant in West Bank, East London, reports the Mercury. The news report cited Arno van der Merwe, MBSA's chief executive and vice-president for manufactur...
    31-Mar-2016 News Investments
    eTrans Systems launches V2X Software Development Platform
    Developer of software solutions for connected and automated vehicles, eTrans Systems, has launched what it calls the V2X Software Development Platform (VSDP). VSDP provides all the necessary tools for rapid development, testing and maintenance of V2X (Vehicle-to-Everything) and Dedicated Short-Range...
    31-Mar-2016 News
    Lear in talks with UAW to relocate jobs from Mexico to Detroit – report
    Lear is in talks with the United Auto Workers (UAW) regarding an agreement on lower wages in exchange for relocation of jobs from Mexico to Detroit, Michigan (United States), according to a Wall Street Journal (WSJ) report. Matt Simoncini, CEO of Lear, confirmed that he has been speaking with Detroi...
    Seating market remains highly fragmented as as OEMs put greater pressure on price reductions
    When looked at on a regional basis, the supply of seats is fairly concentrated amongst a small number of suppliers, but because there are also significant differences between the supply base in each of the major markets, on a global level the seat market remains surprisingly fragmented; JCI (soon to...
    Dana appoints Jonathan Collins as chief financial officer
    Dana Holding Corporation has appointed Jonathan Collins as senior vice president and chief financial officer (CFO), says a company press release. Collins will succeed interim chief financial officer, Rodney Filcek. "We are pleased to have someone of Jonathan's calibre joining the Dana team.  He...
    Lear looking for UAW deal to ensure Detroit jobs – report
    Lear Corporation is looking to create 500 to 1,000 new union manufacturing jobs in the Detroit, Michigan, United States, area – though the new jobs could be under a new classification at a lower wage than hourly rates at other plants. According to Crain’s Detroit Business, Lear is looking to cre...
    07-Mar-2016 News
    EDITORIAL – Motherson Sumi’s potential acquisition of IAC could create yet another megasupplier
    Motherson Sumi Systems Limited (MSSL), the flagship company of Samvardhana Motherson Group (SMG), is in advance negotiations with billionaire investor Wilbur Ross to buy International Automotive Components (IAC) Groups for USD700-800 million, reports the Economic Times (ET), citing people familiar w...
    Motherson Sumi in advance negotiation to buy IAC – report
    Motherson Sumi Systems Limited (MSSL), the flagship company of Samvardhana Motherson Group (SMG), is in advance negotiations with billionaire investor Wilbur Ross to buy International Automotive Components (IAC) Groups for USD700-800 million, reports the Economic Times (ET), citing people familiar w...
    Lear’s board authorises USD1 billion share repurchase
    Lear has increased its share repurchase authorization to USD1 billion and extended the deadline to 31 December 2017, according to company press release. In addition, the company also announced an increase of 20% to the quarterly cash dividend from USD0.25 per share to USD0.30 per share. The dividend...
    Lear's net income up 10.8% y/y to USD745.5 million in 2015
    Lear has reported a 10.8% y/y increase in net income to USD745.5 million for the financial year ended 31 December 2015, said a company press release. Income before income taxes went up 31% y/y to USD1.03 billion. Sales grew 2.8% y/y to USD18.2 billion. Segment-wise, the Seating division sales i...
    Lear plans to establish new plant in US’ Detroit area in next two years – report
    Lear intends to double down on investment in Detroit, Michigan (United States) with plans to set up a manufacturing plant in the next two years, reports Automotive News. Matt Simoncini, CEO of the automotive seating and electronics supplier, believes it is right time to expand presence in Detroit wh...
    15-Dec-2015 News Investments
    Synergy of purchasing, research and development activities gives megasuppliers a huge advantage
    The last couple of years has seen the trend of tier-one suppliers making large-scale acquisitions of fellow tier-one suppliers in the automotive industry. After a relatively quiet period, these so-called ‘megasuppliers’ are now about to start taking advantage of the synergies these mergers have ...
    EDITORIAL – Seating suppliers make a number of investments
    Magna has recently opened a new automotive seat manufacturing facility in Allende, Coahuila (Mexico). The 108,000 square feet building will employ around 1,000 people once it reaches full production in 2017. Magna will invest USD8 million over the next three years in the facility that will cut and s...
    Lear acquires V2X communication solution company Arada Systems
    Lear Corporation has acquired Arada Systems; a Troy, Michigan based automotive technology company that specializes in Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2X) communications.  Arada Systems has developed V2X software and hardware solutions utilizing its expertise in 5.9 GHz ...
    02-Dec-2015 News
    Lear has acquired V2V, V2X tech company Arada Systems
    Automotive supplier Lear has announced its acquisition of Arada Systems. According to a company statement, Arada specializes in vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2X) communications. The technology company is based in Troy, Michigan, United States, and is said to have developed...
    01-Dec-2015 News Investments
    loading