Today’s workforce looks very different than it did a few decades ago. Young professionals no longer stay at one job for 30 or more years – the average tenure in 2012 was closer to five years, according to the U.S. Bureau of Labor Statistics.
In an auction stretching over three days last week, Wanxiang beat out Hybrid Technology, led by Hong Kong billionaire Richard Li, with a final bid of $149.2 million in cash and other considerations. The judge approved the asset sale at a court hearing Tuesday.
Chevrolet said Sunday it was assessing the fire in the trunk. The car manufacturer said the Chevrolet SS pace car has an auxiliary electrical kit in the trunk. The kit operates the car's numerous caution lights. Chevy has not linked the electrical kit to the fire.
Gov. Robert Bentley, U.S. senators Jeff Sessions and Richard Shelby and others plan to commemorate the production of the 3-millionth engine at Toyota Motor Manufacturing's plant in Huntsville. The plant produced a record 540,000 engines last year and is the only Toyota plant globally to build four-, six- and eight-cylinder engines.
On the first of three days of voting at the Chattanooga plant, U.S. Sen. Bob Corker, citing unnamed Volkswagen officials, all but guaranteed that the German automaker would announce within two weeks of a union rejection that it would build a new midsized sport utility vehicle at its only U.S. factory instead of sending the work to Mexico.
Language in Washington state bill says the Department of Licensing would no longer be able to issue additional facility licenses to Tesla because of its status as a vehicle manufacturer and not as a dealer. The company sells cars directly from the manufacturer to the consumer.
The city of Toyota, where Toyota Motor Corp. is headquartered, is expecting over five times more corporate tax income in fiscal 2014 than the previous year, thanks to the leading Japanese carmaker's robust performance.
Gasoline prices are already creeping higher. The nationwide average price has risen for seven days in a row to $3.34 per gallon, the highest level since October, according to AAA, OPIS and Wright Express. California, Connecticut and New York drivers are paying an average of $3.65 or more, the most in the lower 48 states.
The hearing on whether to confirm the results of an auction of Fisker's assets originally scheduled for Friday in Wilmington is now set for Tuesday. The auction, which began Wednesday, was still going on Thursday night.
A Maine-based manufacturer of aluminum trailers plans to open a plant in South Dakota's largest city. The Governor's Office of Economic Development says the Alcom LLC plant in Sioux Falls will create 20 jobs initially and up to 180 positions in the next three years.
Renault says its earnings were more than halved last year even as car sales began to rebound, as heavy restructuring costs ate into the French car maker's profits. The maker of the Twingo and Clio hatchbacks said that plans to revamp its product lineup beginning in the fall and expansion in the developing world will help it lift revenue $68 billion by 2016.
The Federal Reserve said factory production plunged 0.8 percent in January, reversing gains of 0.3 percent in both December and November. Automakers lost days of production because of snowstorms, as their production plummeted 5.1 percent, the report said.
The National Highway Traffic Safety Administration has closed an investigation into engine stalling in some Chrysler cars after the company extended the fuel tank warranty. The probe covered nearly 154,000 Chrysler 300, Dodge Charger and Dodge Magnum cars from 2006. The cars have 5.7-liter or 6.1-liter V8 engines.
U.S. safety regulators are investigating problems with the power brakes in the Mazda CX-9 crossover SUV. The National Highway Traffic Safety Administration says it has seven complaints of unexpected loss of power-assisted brakes. No crashes have been reported.
Employees at the Volkswagen plant in Chattanooga, Tenn., are voting on whether they want to be represented by the United Auto Workers union. With a three-day election wrapping up Friday, here's a look at what's at stake.
Just how the cars will be pulled out of the ground remains to be seen, said museum executive director Wendell Strode. The local fire department estimated the hole is about 40 feet across and 25 to 30 feet deep. The hole opened beneath part of the museum's domed section.
In a report filed with Japan's transport ministry, the automaker said compressed air induction pipes in the vehicles may detach due to vibration from diesel turbo engines, potentially making it impossible for the vehicles to accelerate or causing engines to stall.
Fiat Chrysler Automobiles chief executive Sergio Marchionne says the automaker is more than halfway to getting what it is seeking from the Canadian and Ontario governments for a proposed multibillion upgrade to its Canadian plants.
Bridgestone Corp. has agreed to plead guilty in a price-fixing conspiracy and pay a $425 million criminal fine in a Justice Department investigation that has swept the automotive parts industry. Twenty-six companies including Tokyo-based Bridgestone have pleaded guilty or agreed to plead guilty in the Justice Department's ongoing probe into price fixing and bid rigging.
General Motors is recalling nearly 780,000 compact cars in North America because the engines can shut down unexpectedly and cause crashes. The company says six people have been killed in crashes related to the problem. The recall affects Chevrolet Cobalts and Pontiac G5s from the 2005 through 2007 model years.
Drivers in the world's biggest auto market bought 1.85 million passenger vehicles, the China Association of Automobile Manufacturers said Thursday. It was the first time monthly sales surpassed 1.8 million. Auto sales growth is forecast to decelerate sharply from last year's 15.7 percent expansion to about 8 to 10 percent. Sales grew 17 percent in December.
Toyota Motor Corp. said Thursday the recall affects the RAV4 sport utility, Tacoma pickup and Lexus RX 350 luxury model, manufactured from March 2012 through December 2012. The Japanese automaker said the problem can cause stability control, anti-lock brakes and traction control to turn off, although standard braking will keep working.
Former President Hosni Mubarak championed the vehicle as part of his 2005 election platform to create jobs. Experts estimate youth unemployment as over 30 percent. Since then, the Indian-made model has proliferated around the country, with boys as young as ten working as drivers.
Owners of three-year-old vehicles are reporting more problems than they did a year ago, according to J.D. Power and Associates' annual survey of vehicle dependability. It's the first time since 1998 that the average number of problems per vehicle has increased.
A sinkhole collapsed part of the National Corvette Museum in Kentucky on Wednesday, damaging at least six cars there but not shutting down the facility. Bowling Green city spokeswoman Kim Lancaster said the hole opened up at about 5:40 a.m. CST Wednesday, setting off an alarm and a call to the fire department.