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Caterpillar Inc., the maker of heavy construction and mining equipment, today reported a sharply lower third-quarter profit as demand for the company’s products dropped.

Betting that the worst of the pandemic will be over and travel restrictions lifted, the 2021 edition the machine tool exhibition is putting out the welcome mat to the world.

The North American auto industry slammed on the brakes in March because of the novel coronavirus (COVID-19). The sector already had been forecast to slow down in 2020, with lower light-vehicle demand. That turned into a sudden stop as the coronavirus spread.

U.S. manufacturers cut 12,000 jobs in January, led by a loss of jobs in the motor vehicles sector. Makers of vehicles and parts pared 10,600 jobs, according to the U.S. Bureau of Labor Statistics.

Although drivers may not know it, cable connections for the airbags and seatbelt buckle systems in their vehicle simply would not work without components manufactured by ODW-Elektrik. A development partner and supplier for high-quality cabling, solenoids and mechatronic systems used in vehicles around the world, ODW-Elektrik supplies most of its products to Bosch, Autoliv, Brose, VW, and ZF.

Reshoring announcements rise 11% in the first quarter compared with a year earlier, according to the Reshoring Initiative.

Eaton today announced its eMobility business has received a contract to supply its battery disconnect unit (BDU) in both 400- and 800-volt configurations to a global vehicle manufacturer for use in electrified passenger vehicles.

The new president of the United Auto Workers union today said the union is prepared for tough labor talks with General Motors Co., Ford Motor Co. and Stellantis NV.

Economic contraction began toward the end of 2022, but improvement may occur later in 2023.

Harbour Results Inc. forecast that spending on automotive tooling in North America will reach $8.3 billion in 2025 from an estimated $5.7 billion in 2022.