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Workhorse to Spin Off Aviation Business

Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.

GM Replacing 88% of Lineup By 2020

General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, according to a Bank of America Merrill Lynch analyst.

Element to Acquire GE Capital's Fleet Business

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.

GE to Sell Fleet Management Unit by 2018

General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.

Navistar International Trims 1st Quarter Loss

Navistar International Corp. announced on Tuesday that it is still losing money, but nowhere near as much as it did a year earlier, thanks to higher sales and lower warranty costs.

Navistar Details Post-Turnaround Plans

Top executives of Navistar detailed how the manufacturer will build on the ground it gained in the past two years and gave a five-year plan for the future at the company's analyst day, hosted at Navistar headquarters.

Cummins Reports Strong Earnings in Q3

Cummins reported its third quarter revenue was $4.9 billion, a 15% increase from the third quarter of last year. Stronger demand for on-highway markets and distributor acquisitions in North America was a significant factor in revenue growth.