Automotive
China's March Auto Sales Rise
April 11, 2013 12:09 pm | by Joe McDonald, AP Business Writer | News | CommentsChina's auto sales in March rose 13.3 percent over a year earlier but Japanese automakers suffered more declines, an industry group reported Thursday. Customers in the world's biggest vehicle market bought 1.6 million cars, according to the China Association of Automobile Manufacturers.
Gov't Sold $621M Worth Of GM Stock In March
April 11, 2013 8:20 am | by Tom Krisher, AP Auto Writer | News | CommentsThe Treasury Department said in its March report to Congress that it sold $621 million worth of GM common stock last month. The report dated Wednesday says the government has recovered about $30.4 billion of the $49.5 billion bailout it gave the Detroit automaker. That means taxpayers are still $19.1 billion in the hole.
Toyota, Honda, Nissan Announce Air Bag Recall
April 11, 2013 2:45 am | by Yuri Kageyama, AP Business Writer | News | CommentsThe recall for air bags made by Japan's Takata Corp. affects other automakers including non-Japanese manufacturers, and may be as many as 3 million vehicles, Takata spokeswoman Akiko Watanabe said Thursday. She declined to give details.
Adrian Steel Expands Automotive Parts Manufacturing To Kansas City
April 10, 2013 9:29 am | by Joel Hans, Managing Editor, Manufacturing.net | News | CommentsThe Kansas City Area Development Council announced today that Adrian Steel is expanding into Kansas City to supply parts for Ford automobiles with a new 32,000 square-foot facility. The Adrian, Mich.-based company plants on leasing 11 acres of land within the Hunt Midwest Business Center with an investment of $4.7 million.
GM's Akerson Affirms Commitment To Opel
April 10, 2013 8:35 am | News | CommentsGM Chairman and CEO Dan Akerson said at a news conference Wednesday that GM was "fully supportive of the Opel turnaround plan" and that the Detroit-based group "must have a strong presence in Europe and especially here in Germany." Akerson added that GM was committed to investing $5.22 billion in Europe by 2016.
GM Returning To Facebook With Chevy Sonic Ads
April 10, 2013 8:25 am | News | CommentsGeneral Motors is returning to Facebook. The automaker pulled its ads from the social media giant last May, just days before Facebook's initial public offering. GM said the ads weren't effective and didn't justify the $10 million per year it was spending.
India Car Sales Drop For 1St Time In A Decade
April 10, 2013 6:57 am | by Kay Johnson, Associated Press | News | CommentsCar sales in India fell by 6.7 percent in the past year, the first decline in a decade for the country's once-booming auto industry as it grapples with a wider economic malaise. About 1.9 million passenger cars were sold domestically in the 2012-13 fiscal year that ended last month, compared with 2 million the previous year.
Oshkosh To Lay Off 900 This Summer
April 9, 2013 4:26 pm | News | CommentsThe Oshkosh-based company says it will begin laying off 700 hourly employees in mid-June, with 200 salaried employees to be laid off by the end of July. Company leaders say production is declining as the military continues to wind down from the wars in Iraq and Afghanistan.
Chrysler To Recall SUVs For Drive Shaft Problem
April 9, 2013 2:41 pm | News | CommentsChrysler says in documents filed with the government that a heat shield can drop and rub against the drive shaft, causing it to wear and break. If the shaft breaks, the SUVs will lose power and the side air bags may inflate. Chrysler says it doesn't know of any crashes or injuries from the problem.
Fiat-Chrysler Merger Path To Clarify
April 9, 2013 2:34 pm | by Colleen Barry, AP Business Writer | News | CommentsMarchionne has jointly managed the two companies since buying a 20 percent stake in 2009. Fiat has since built up its holding in the U.S. company to 58.5 percent. However, his ambitions to fully merge the two companies have been stalled by a dispute between Chrysler's minority shareholder, the autoworkers union pension health trust.
BMW Sets Monthly Sales Record
April 9, 2013 11:33 am | News | CommentsGerman luxury automaker BMW AG says it had its best month ever in March, increasing global sales by 3 percent to 191,269 vehicles. For the first three months of the year, sales rose by 5.3 percent compared with a year earlier, to 448,200 units — even though sales slipped in the company's home market, Germany.
Ford: Focus Is Best-Selling Car In The World
April 9, 2013 8:34 am | News | CommentsFord Motor Co. says its Focus small car was the best-selling vehicle nameplate in the world last year, with just over 1 million sold. More than a quarter of all Focuses were sold in China, its largest market. The U.S. was the car's second-largest market.
Fiat-Chrysler Forecasts Slight Sales Growth
April 9, 2013 8:22 am | News | CommentsFiat and Chrysler CEO Sergio Marchionne forecasts sales of between 4.3 million and 4.5 million cars in 2013, slightly higher than last year. Marchionne told shareholders Tuesday the company expects growth in the U.S., Latin America and Asia, while sales in Europe are forecast to decline for a sixth straight year.
Calif. DA: Toyota To Pay $16M Settlement
April 8, 2013 7:55 am | News | CommentsOrange County District Attorney Tony Rackauckas on Friday announced the settlement of a lawsuit against the carmaker that claimed deceptive business practices and sought $2,500 per violation under the state's Unfair Business Practices Act.
Fisker To Cut Three-Fourths Of Its Work Force
April 5, 2013 1:46 pm | by Tom Krisher, AP Auto Writer | News | CommentsAnaheim, California-based Fisker has struggled with financial and production problems, and its co-founder resigned last month. In March, Fisker furloughed its staff of about 220 for one week. At one time the company employed about 600 workers.
Asia, U.S. Sales Push Mercedes To Record Month
April 5, 2013 8:15 am | News | CommentsDaimler AG says its mainstay Mercedes-Benz luxury brand recorded the best monthly sales figures in its history in March despite weak car markets in western Europe. The company, based in Stuttgart, said Friday it delivered 139,920 Mercedes vehicles, up 6.5 percent from the same month a year earlier.
Race To Build Driverless Cars Is In Full Throttle
April 5, 2013 8:12 am | by Rick Montgomery, The Kansas City Star | News | CommentsGoogle and other innovators say they may be just five years away from having all the tools and know-how to market what researchers call "a fully autonomous vehicle" — where steering, braking and turns can be safely performed without manning the controls.
Honda, Toyota Shares Boosted By Japan Stimulus
April 4, 2013 8:17 pm | News | CommentsShares of Toyota, Honda and Nissan all rose more than 4 percent as some analysts predicted a drop in Japanese car prices. But they also say the effect of the weaker yen will be blunted because those companies have previously moved so much of their production to North America.
Honda Recalls 145,573 Vehicles Due To Fire-Prone Defect
April 4, 2013 7:52 am | News | CommentsHonda Motor Co. told the transport ministry Thursday it is recalling 145,573 of its Vamos, Vamos Hobio and Z passenger cars due to an engine parts defect which could cause fire. Subject to the recall are vehicles of those three models produced between October 1998 and August 2010.
GM To Invest $332M In 4 U.S. Factories
April 4, 2013 7:26 am | by Tom Krisher, AP Auto Writer | News | CommentsGeneral Motors plans to invest $332 million into four factories in three Great Lakes states to build new, more efficient engines and transmissions. The spending at plants in Toledo, Ohio; Bedford, Ind.; and Flint and Bay City, Mich., will allow the company to build a new V-6 engine, a new small motor and new eight-speed automatic transmissions, GM said Thursday.
Disappointed Investors Sell Off Tesla Shares
April 3, 2013 2:14 pm | News | CommentsShares of Tesla Motors Inc. fell after the electric car maker's announcement of a new financing option similar to a vehicle lease failed to impress investors. Tesla said that under the new program, US Bank and Wells Fargo will make loans for the 10 percent down payment required for its Model S sedan, which eventually would be covered by a $7,500 federal tax credit for electric car buyers.
Hyundai-Kia Recalling Nearly 1.9M Vehicles
April 3, 2013 8:26 am | News | CommentsKorean automakers Hyundai and Kia are recalling almost 1.9 million vehicles to fix problems with air bags and brake light switches. The brake light recall covers the Hyundai Accent, Elantra, Genesis Coupe, Santa Fe, Sonata, Tucson and Veracruz.
GM Recaling Some Buick Encores
April 2, 2013 1:50 pm | News | CommentsGeneral Motors is recalling small number of 2013 Buick Encores sold in the United States because of a steering wheel fastener that may not have been properly installed. GM says the problem could cause the steering wheel to come loose or separate from the steering column while driving.
Automakers See Sales Gains In March
April 2, 2013 1:37 pm | by Dee-Ann Durbin and Tom Krisher, AP Auto Writers | News | CommentsMajor automakers including Ford, Chrysler, Toyota, General Motors and Nissan all reported increases, with some reporting their best monthly totals since the start of the Great Recession in December of 2007. Buyers were lured to showrooms by flashy new vehicles and low interest rates.
Subaru Recalls Vehicles To Fix Brake Problem
April 2, 2013 9:27 am | News | CommentsSubaru is recalling thousands of Legacy and Outback all-wheel-drive vehicles because the brake lines can rust and leak fluid. The recall affects cars from the 2005 through 2009 model years sold in states where salt is used to clear roads in the winter.
