Delphi Automotive Sees Slow Quarterly Sales

Delphi Automotive Systems Corp. said it expects lower to little-changed sales this quarter and next year and said it may sell or revamp businesses with total annual revenue of as much as $5 billion as slowing vehicle sales hurt earnings. The nation’s largest auto-parts maker also said it plans to cut capital spending in traditional parts businesses as it looks to boost spending on electronics and other more promising businesses. Delphi’s announcement came as General Motors Corp., its biggest customer and former parent, announced it would phase out production of its venerable Oldsmobile brand and cut jobs. Delphi’s stock edged up 50 cents to close at $12.25 on the New York Stock Exchange, well below its year-high of $20.94.