May 12, 2010 at 2:17 p.m.
Filed under:
Autos,
Banking,
Government
McClatchy/Tribune News | President Barack Obama on Wednesday
warned that exempting auto dealers from a new consumer protection agency
would hurt buyers and let dealers continue “deceptive practices.”
The nation’s 20,000 new-car dealers have blitzed Capitol Hill the last
two weeks, seeking to be cut free from the agency that would oversee
consumer lending, part of a package of financial reforms expected to
move through the Senate in the next several days. They’re backing an
amendment by Sen. Sam Brownback (R-Kan), that would exempt auto dealers’
lending from new oversight that would still apply to banks and finance
companies such as Ally Bank, the former GMAC.
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May 11, 2010 at 12:43 p.m.
Filed under:
Autos,
Jobs/employment
Associated Press | Chrysler Group LLC says it will rehire 379
laid-off workers and hire 20 new supervisors to build transmissions at
its operations in Kokomo, Ind. The company said Tuesday that it will invest $43 million in equipment
to expand the Kokomo operations, which include casting and transmission
plants.
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May 11, 2010 at 6:09 a.m.
Filed under:
Autos,
Earnings,
Recalls
Associated Press | Toyota cruised back to profit in the latest
quarter as the world’s top carmaker cut costs and hitched a ride on the
global auto sales recovery while fighting to salvage its reputation for
quality.
But the automaker’s top executive and analysts alike said Toyota is
still far from a full recovery while another potential blow to its
image looms after U.S. federal authorities launched a fresh
investigation into a steering recall.
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May 10, 2010 at 7:48 a.m.
Filed under:
Autos,
Government,
Recalls
Associated Press | U.S. Transportation Secretary Ray LaHood said
Monday that Washington wants to see results from Toyota’s efforts to
improve safety, and more fines would be imposed if needed.
“If a fine is required, I think everyone recognizes now that safety is
our number one priority, and we will do all that we can to uphold the
laws in our country,” he said.
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May 7, 2010 at 6:35 a.m.
Filed under:
Autos
A red 2010 Lexus GX460 at a Maine dealership, with other Lexus vehicles behind it. (AP Photo/Pat Wellenbach, file)
Associated Press | Consumer Reports magazine is lifting a “Don’t
Buy” recommendation for a Lexus sport utility vehicle that failed an emergency handling test. The magazine said Friday that the 2010 Lexus GX 460 luxury SUV passed the test after a dealership updated software that runs its electronic stability control system.
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May 6, 2010 at 7:02 a.m.
Filed under:
Autos,
Recalls
Associated Press | A trade group representing Detroit
automakers and Toyota Motor Corp. plans to pledge support for requiring
brake override systems and vehicle “black boxes” on all new vehicles as
Congress develops new safety improvements following Toyota’s large
recalls.
Toyota’s recall of more than 8 million vehicles around the globe to fix
faulty accelerator pedals and brake problems with Prius hybrids has
prompted the first major changes to auto safety requirements since the
Bridgestone/Firestone Inc. tire recalls in 2000.
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May 5, 2010 at 8:28 a.m.
Filed under:
Autos,
Recalls
The GM recall affects Hummer H3s produced since 2006.
Associated Press | General Motors is recalling all Hummer H3s
produced since the 2006 model year to fix a portion of the hood that
can detach during driving. The voluntary recall affects 164,190 Hummer
H3s and H3Ts in the U.S. and 198,404 worldwide.
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May 4, 2010 at 1:29 p.m.
Filed under:
Autos,
Recalls
Associated Press | Nissan Motor Co. said Tuesday it will recall
nearly 135,000 Infiniti G35 sedans and coupes to address a problem that
could lead to the air bag not deploying in a crash. Nissan said the
recall involves G35 Coupes from the 2005 to 2007 model years and G35
Sedans from the 2005 to 2006 model year.
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May 3, 2010 at 1:26 p.m.
Filed under:
Autos
The 1945 Suburban, right, inspired the 2005 SSR and HHR. (File photo)
Associated Press | General Motors is celebrating the 75th
anniversary of the Chevrolet Suburban, the longest continuously
produced vehicle in the U.S.
The GM plant in Arlington, Texas, where the vehicles are made,
showcased on Monday one of the first Suburbans — a yellow vehicle from
1936 — and the new 75th anniversary Diamond Edition. Only 2,750 of
those will be made.
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May 3, 2010 at 1:52 a.m.
Filed under:
Autos,
Economy
Associated Press | The U.S. auto industry stayed on the road to recovery in April, but it eased up on the gas pedal a bit. Ford Motor Co. saw last month’s sales rise 25 percent from a year
earlier, while General Motors Co. climbed 6.4 percent. Sales for Toyota
Motor Corp., which has grappled with a string of safety recalls, rose
24 percent.
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April 30, 2010 at 1:50 p.m.
Filed under:
Autos,
Recalls
Associated Press | Honda Motor Co. is recalling about 167,000
Acura TSX cars to fix power steering hoses that could deteriorate and
cause a fire under the hood. The recall, announced Friday, involves
TSXs from the 2004-2008 model years. The National Highway Traffic
Safety Administration said on its website that high temperatures under
the hood could cause the power steering hose to crack and leak power
steering oil.
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April 29, 2010 at 1:04 p.m.
Filed under:
Autos,
Manufacturing
Associated Press via Bloomberg | Chicago-based auto repair parts maker LKQ Corp. said Thursday that its first-quarter profit rise 67 percent, thanks to growing demand for auto parts and falling commodity prices.
Get the full story: businessweek.com.
April 29, 2010 at 11:19 a.m.
Filed under:
Autos,
Recalls
A red 2010 Lexus GX460 at a Maine dealership in early April, with other Lexus vehicles behind it. (AP Photo/Pat Wellenbach, file)
Associated Press | Toyota says it has resumed sales of the 2010 Lexus GX460 and the software fix to repair the vehicle stability control system is now available at dealerships.
Toyota recalled nearly 10,000 of the SUVs last week because of possible rollover dangers. The announcement came after Consumer Reports issued a rare “don’t buy” rating over concerns the vehicle could flip in tight turns. Lexus Group Vice President Mark Templin says dealers began contacting owners Wednesday to schedule the software update. He says the automaker is confident the changes will make the performance of the GX better for customers.
April 29, 2010 at 10:46 a.m.
Filed under:
Autos
The latest Honda vehicles in a Tokyo showroom, April 28, 2010. (Kazuhiro Nogi/AFP/Getty Images)
Dow Jones Newswires | Honda Motor Co. has boosted incentives in
the U.S. to spur sales after an uneven start in the first quarter.
The automaker, which has been more successful than many rivals at
holding down incentives, has spent an average of $1,903 per vehicle in
cash rebates, subsidized leases and other deals, up 57 percent since
January, according to an analysis by research group Edmunds.com.
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April 29, 2010 at 7:34 a.m.
Filed under:
Autos,
Manufacturing
Dow Jones Newswirez | Tenneco Inc. swung to a first-quarter profit, as a rebound in the auto industry helped the parts maker post surging sales and improved margins and top analyst expectations.
Tenneco, which makes shock absorbers, suspensions and manifolds, reported a profit of $7 million, or 11 cents a share, compared with a year-earlier loss of $49 million, or $1.05 a share. The latest period had 14 cents in charges. Net sales were up 36percent to $1.32 billion.
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