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Lear Q4 earnings: Net income surges to $118M

Lear shares slipped 2.5 percent to $145.76 in afternoon trading. The company achieved a $1.8 billion backlog in its core seating business through 2025 and about $1 billion in its e-systems segment, which it is working to grow with the rise…

BMW hikes prices for some models on higher costs

SHANGHAI -- BMW has raised suggested retail prices for some models sold in China because of higher raw material and logistics costs globally. The automaker increased the manufacturer's suggested retail prices of 17 models in China…

VW will not match Tesla price cuts for its EVs

BERLIN -- Volkswagen Group has no plans to offer discounts for its electric vehicles to counter price cuts by Tesla, CEO Oliver Blume told a German newspaper. VW will not take part in a price war with Tesla, Blume told the Frankfurter…

GMC Hummer SUV, Canyon pickup output begins

DETROIT — GMC has started building the SUV version of the Hummer EV and the third-generation Canyon midsize pickup.Production of the 2024 Hummer EV SUV began Monday at General Motors' Factory Zero plant in Detroit, officials said. The 2023…

Toyota was the world’s No. 1 carmaker in 2022

TOKYO -- Toyota sold 10.5 million vehicles in 2022, it said, defending its title as the world's top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu,…

BYD set for surge in 2022 profit as sales jump

China's BYD, the world's biggest seller of full-electric vehicles and plug-in hybrids, expects its 2022 net profit to be more than five times the amount it booked a year earlier, the company said. With sales of 1.86 million cars, it…