Author: Automotive News Feed

Volkswagen’s German workers will push for above-inflation pay rises next year, even as the carmaker seeks to cut costs and boost flagging profitability in its core division, the IG Metall labor union said.

ZF’s net debt will rise to some 8.5 billion euros ($11 billion), or about 2.4 times core earnings after it buys rival TRW, a banker familiar with the deal said.Earlier this week, ZF agreed to buy TRW for $13.5 billion including debt,