Company founder Frank Stronach has said Magna and unions need to work together to save North American auto industry jobs and create new employment.
Companies will distribute shock absorbers in Europe; venture expected to begin in January.
Agreement includes a company-funded, union-run trust called Voluntary Employees Beneficiary Association and must be approved by federal courts.
Auto supplier closing after completing the sale of its last major operations to private equity group amid downturn in the U.S. auto industry.
Ford's chief executive says the main planks of the United Auto Workers union's deals with General Motors and Chrysler will help Ford Motor Co. become more competitive.
The $3 million study could determine the cost and feasibility of adding two truck lanes in each direction of I-70 from Kansas City, Mo., to the Ohio-West Virginia border.
Automaker hopes foray into China's small-car market will more than double sales to around 20,000 vehicles this year from fewer than 8,000 units last year.
Swedish truckmaker won its largest bus and coach order to date in Asia, selling 500 city buses to public transport company SBS Transit in Singapore for an undisclosed price.
Strong car sales offset weak demand for clothing; retail sales increase of 0.6 percent was double what economists were expecting.
International Automotive Components bought the company's soft trim division and its former interior parts plant, which generate $600 million in annual sales.
Labor experts are already predicting that the UAW will have a tough time selling its tentative agreement to Chrysler workers.
In the past six months the U.S. automaker sold 21,000 cars — nearly 2 1/2 times the number it sold in India for the same period last year.
South Korean automaker studying whether to build a factory in Russia; plant would have a capacity of 100,000 vehicles a year.
Jim Farley will join Ford in mid-November after nearly two decades at Toyota Motor Corp, most recently as group vice president and general manager of its U.S. sales arm.
United Auto Workers reaches tentative deals with two automakers; union now moves on to Ford, which could be toughest bargainer because of weakened financial state.
About six hours after the 11 a.m. walkout Wednesday, the UAW and Chrysler agreed on a tentative four-year contract, easing anxiety for thousands of workers across the country.
Thousands walk out Wednesday after automaker and UAW fail to reach a tentative contract agreement before a union-imposed deadline.
Analysts say sluggish demand for new cars in the U.S. following the subprime mortgage crisis has led carmakers to curtail production.
Expert says Marion plant workers' decision may have been influenced by General Motor's announcement it may close the plant after 2011.
Commission looking to find out if Ford was planning to benefit from a debt write-off by the Romanian government not offered to other potential bidders.
Joint venture with Uzavtosanoat will initially assemble three Chevrolet models — the Captiva, Epica and Tacuma — with full-scale production slated to begin in the next three years.
Tokyo-based Honda, which has sold about 220,000 hybrids worldwide so far, is eager to make its mark on hybrids by showing how its reputation for sporty cars will also work for hybrids.
Union members with four locals across Ohio voted by wide margins to approve a tentative contract agreement with General Motors; a small local near Columbus rejected it.
Union's 11 a.m. Wednesday deadline may be a tactic to get Chrysler to give a little more.