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DETROIT --  Ford Motor Co.’s Joe Hinrichs, 53, will retire as president of automotive, and Jim Farley, 57, president of new business technology and strategy, will become COO, Ford said.

The changes are effective March 1. Farley will report to CEO Jim Hackett.

Ford said the changes are meant to "accelerate its transformation into a higher-growth, higher-margin business." 

On Wall Street, Ford shares fell 2.5 percent in early trading to $8.04.

Hinrichs had been at Ford for 19 years while Farley joined the company in 2007.

"Jim Farley is the right person to take on this important new role," Hackett said in a statement. "Jim's passion for great vehicles and his intense drive for results are well known. He also has developed into a transformational leader with the imagination and foresight to help lead Ford into the future." 

Farley is expected to retain his role as head of Ford Smart Mobility, the company's  auto…

LONDON -- Jaguar Land Rover will reduce or stop production on certain days at two of its British factories over the next few weeks as the U.K. automaker pursues cost-cutting measures in response to falling demand.

JLR posted a 2.3 percent drop in retail sales in the three months to the end of December and has targeted billions of pounds worth of savings to tackle falling diesel demand in Europe and a tough sales environment in China.

The company will halt production on selected days over a four-week period from late February at its Castle Bromwich factory in central England and stop production on some half or full days at its nearby Solihull facility until the end of March.

"The external environment remains challenging for our industry and the company is taking decisive actions to achieve the necessary operational efficiencies to safeguard long-term success," the company said in a statement.

"We have confirmed that Solihull and Castle Bromwich wil…

DETROIT -- The threat from the coronavirus crisis is closing in on the global auto industry, as Fiat Chrysler Automobiles warned Thursday that a European plant could shut down within two to four weeks if Chinese parts suppliers cannot get back to work.

Meanwhile, Toyota Motor Corp. and Honda Motor Co. are were among carmakers extending shutdowns at their China plants as the country steps up measures to fight the deadly coronavirus.

Toyota, which initially halted its Chinese plants until Feb. 9, said it now plans to resume production as soon as Feb. 17. Honda said it will reopen its factory on Feb. 14 with an eye toward restarting output during the week of Feb. 17.

South Korea's Hyundai Motor and affiliate Kia Motors also said on Friday that they plan to restart production at their Chinese factories on Feb. 17, from a previously planned Feb.9.

"We will take preventive measures against infection at factories," a spokeswoman said.

The sh…

TOKYO – Honda Motor Co. reported a 2.1 percent decline in operating profit in the latest quarter as falling sales, higher r&d outlays and swinging foreign exchange rates hit earnings.

Operating profit slipped to 166.6 billion yen ($1.53 billion) in fiscal third quarter ended Dec. 31, Honda said Friday in its earnings report.

Net income fell 31 percent to 116.4 billion yen ($1.07 billion) in the three-month period, partly because the company was hit by higher income tax expenses in the U.S.

Revenue decreased 5.7 percent to 3.75 trillion yen ($34.4 billion), as worldwide sales retreated 11.4 percent to 1.25 million vehicles in the October-December quarter.

Despite the downturn in operating profit, Honda raised its full fiscal year profit outlook, citing a return to more favorable foreign exchange rates and better-than-expected sales in Japan. But the company still expects global sales to decline 6.4 percent this fiscal year.

North America…

A decked-out Jeep Wrangler is on the way for Mopar lovers.

Mopar is debuting the Wrangler Jeep Performance Parts 20 limited edition variant at the Chicago Auto Show. The Wrangler JPP 20 is loaded with an array of parts and accessories from the JPP portfolio.

Fiat Chrysler Automobiles said that in addition to full-aluminum doors, JPP steel tube doors and a new mirror kit are standard equipment on the 2020 model.

Dealer orders open in the second quarter, the company said, and vehicles will arrive in dealerships this summer.

Kim Mathers, Mopar's head of accessories and performance, said consumer reception to Jeep's performance parts, which are Jeep's "key functional off-road performance components," has been strong. "So much so that customers want them, they want them all and they want them immediately when they purchase the new vehicle."

Mathers said during a January briefing that the Wrangler JPP 20 is a "response to that request."

TOKYO -- Toyota Motor Corp. on Friday said production at all of its China plants would remain suspended through Feb. 16, joining a growing number of automakers facing stoppages due to supply chain issues as the coronavirus spreads.

The Japanese automaker, which operates 12 vehicle and component factories in China, said it would extend shutdowns "after considering various factors, including guidelines from local and region governments, parts supply, and logistics.

"For the week of Feb. 10, we will be preparing for the return to normal operation from Feb. 17 and beyond," it said in a statement.

The decision extends Toyota's initial plans to suspend operations through Sunday, and comes as the spreading coronavirus crisis further threatens the global auto industry.

South Korea's Hyundai Motor and affiliate Kia Motors said on Friday that they plan to restart production at their Chinese factories on Feb. 17, from a previously planned Feb.9.

"We w…

Uber Technologies Inc. drew more customers to its ride-hailing and food delivery businesses in a boost to its fourth-quarter revenue, but high costs at Uber Eats meant Uber continues to lose money as it tries to outspend competitors.

Total revenue rose 37 percent to $4.07 billion on a yearly basis, compared with analysts' average estimate of $4.06 billion, according to IBES data from Refinitiv.

However, net loss attributable to Uber widened to $1.1 billion from a loss of $887 million a year earlier.

Uber moved forward by a year its target to achieve profitability on an adjusted basis to the fourth quarter of 2020.

CEO Dara Khosrowshahi said the company would cut costs, aim to generate more repeat-customer business and try to increase use of premium ride services. He revealed the new profitability target on a conference call with investors after the company reported results.

Shares of Uber were up nearly 5 percent to $38.…

CHICAGO — The size of the global auto industry could triple over the next 30 years as proven electrification and mobility technologies mature, which is driving current investments in those areas, Audi of America's head of electrification says.

Speaking at the Chicago Auto Show, Cody Thacker, who's been with Audi of America for the last seven years, said the pace of electrification is increasing and barriers to adoption of electric vehicles are falling at a quickening rate.

"Why are auto businesses making huge investments in this technology? Because today, the auto industry is a $2 trillion industry. By 2050, with these changes, it is estimated to be a $7 trillion industry, and we're all fighting for a piece of that," Thacker told the Economic Club of Chicago on Thursday.

Thacker oversees development of infrastructure to sell and service electric vehicles for the German premium brand and its dealers. He is also responsible for partnerships that help Audi …

Toyota Motor North America is recalling about 52,000 vehicles over possible coolant leaks. The recall covers 2020 Toyota Avalon Hybrid, Camry, Camry Hybrid and Lexus ES 300h vehicles as well as 2019-20 Toyota RAV4 and RAV4 Hybrid vehicles.

The recall includes about 44,000 vehicles in the U.S., Toyota said in a statement Thursday.

Affected vehicles may be equipped with an engine block that was manufactured incorrectly, the release said, and can cause an internal and/or external coolant leak "during normal engine operation."

"This can lead to engine noise, engine smoke, warning lights/malfunction indicator illumination, an audible chime sounding, and/or, in some cases, engine overheating and possible internal mechanical engine damage," Toyota said in the release.

If the leak occurs in a conventional gasoline vehicle, it said, "the vehicle could stall while driving at higher speeds" without warning, increasing the risk of a crash. In both hybrid and …

Auto supplier Continental said it plans to start construction this year on a new plant in New Braunfels, Texas, that will manufacture products for advanced driver-assistance systems.

The German company said on Thursday it will invest $110 million in the new 215,000-square-foot facility over the next three years.

The plant will produce radar systems and will add more than 130 new jobs to the region, according to a press release.

"Advanced driver-assistance systems save lives," Frank Jourdan, Continental's board member for autonomous mobility and safety, said in a statement. "Continental is one of the world's market leaders in this area. We are benefiting from steadily increasing fitment rates in new vehicles."

"Over the next five years, we are planning further investments in the high-triple-digit million euro range in the areas of assisted and automated driving," Jourdan said. "The capacity expansion in New Braunfels i…

STOCKHOLM -- Volvo reported an 18 percent rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets.

The automaker, which China's Geely acquired from Ford in 2010, said its operating earnings were 5.29 billion Swedish crowns ($551.7 million) as revenues rose 8.4 percent to 79.2 billion crowns ($8.3 billion).

Sales of Volvos rose nearly 10 percent in 2019 - with growth of 23 percent in the fourth quarter alone - as increases in China and the United States and strong demand for a line of crossovers, its best-selling models, gave a boost.

"During the second half of the year, and specifically during the fourth quarter, both profit and profit margin outperformed the comparative period in 2018," CEO Hakan Samuelsson said.

"This is a result of continued strong growth in volume, especially in SUVs, as well as cost-efficiency measurements initiated early in 2019."

Automakers hav…

TOKYO -- Honda Motor Co. is considering keeping operations suspended for longer than planned at its three plants in the Chinese city at the center of the new coronavirus outbreak, the Nikkei newspaper reported on Thursday.

Honda said that the Nikkei report was not based on information provided by the company.

The Japanese automaker has suspended production at its plants in Wuhan, Hubei Province, through Feb. 13, but the Nikkei said that it was reconsidering its plans to restart operations from Feb. 14, without citing sources.

Output at most of Honda's other plants in China has been stopped through Feb. 9.

Automakers have suspended output at many factories in China in line with government guidelines to prevent the spread of the virus that has led to some 560 deaths in the country.