The deal with Wanxiang Group, one of the largest auto components makers in China, is still preliminary and subject to numerous conditions, including approval by the Chinese government.

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Covisint started out as an online auction site for auto components, but evolved toward a far more useful business model: providing motorists with secure access to the internet through their car.

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" Zilke says auto technicians face components repairs "virtually unheard of a generation ago, " and need to be "master diagnosticians well-versed in electronics.

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Berkshire saw revenues rise down the list of the companies it holds in businesses ranging between railroads, auto insurance, electronics components and RV-makers.

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In the heyday of conglomerates, AVM had 15 divisions, making everything from auto parts and furniture to air-conditioning components.

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India taxes partly-assembled auto parts by up to 100%, while unassembled components are taxed at 10%, a measure meant to encourage local manufacturing.

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As a measure of how big the auto business has become in China, before 2008 the assemblers and components companies were all able to fit in the old convention center.

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Leaf springs, its high-volume product that accounts for 67% of its auto parts sales, are fairly simple, low-capital-intensive suspension components.

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