General Motors Co. is recalling about 2,100 2011 Chevrolet Cruze small cars to inspect for an improperly fastened steering wheel after discovering one vehicle with the defect. Get the full story »
GM
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March auto sales gains riding in small cars
Most major automakers raced past expectations for U.S. sales in March as buyers flocked to smaller, more fuel-efficient cars in response to rising gasoline prices at the pump. Get the full story »
Automakers trimmed incentives in March
Average per-vehicle incentives from U.S. auto makers slid 8.6 percent in March from February and declined 17 percent from a year earlier, according to car-shopping site Edmunds.com. Get the full story »
GM to resume truck production in Louisiana
General Motors Co. will resume production at its pickup truck plant in Louisiana next week as well as its engine plant in upstate New York, saying only it had the parts it needed to support output. Get the full story »
GM’s CFO bows out after 14 months
After just 14 months at General Motors Co., Chief Financial Officer Chris Liddell is leaving the automaker, possibly to pursue a job as a CEO at another company.
On Thursday, GM said Liddell would be replaced by Treasurer Dan Ammann, a former Morgan Stanley managing director, starting April 1. Get the full story »
3 years into federal bailout, costs declining
Almost three years after a series of government bailouts began, what many feared would be a deep black hole for taxpayer money isn’t looking nearly so dark.
The brighter picture is highlighted by the outlook for the bailouts’ centerpiece — the $700 billion Troubled Asset Relief Program.
“It’s turning out to cost one heck of a lot less than what we all thought at the beginning,” said Ted Kaufman, a former U.S. senator from Delaware who heads the congressionally appointed panel overseeing TARP. Get the full story »
Volt misses Top 10 in ranking of ‘green’ cars
The Chevrolet Volt didn’t rank as one of the 10 “greenest” cars in America, coming at no. 13, according to the American Council for an Energy-Efficient Economy’s annual list.
The fully electric Nissan Leaf ranked second among all 2011 model year cars on the list. First place went to the compressed natural gas powered Honda Civic GX. Get the full story »
GM recalls Cadillac CTS sedans for wheel problem
General Motors Co. is recalling over 44,000 Cadillac CTS sedans over a flaw that could cause one of the rear wheels to become unstable.
The recall affects 2009 and 2010 CTS vehicles, Cadillac’s best seller. Get the full story »
GM bonuses to average $4K per hourly worker
General Motors Co. will pay more than $189 million in profit-sharing to 48,000 U.S. hourly workers and millions more in performance bonuses to salaried employees, according to a person briefed on the matter.
The company, less than two years out of bankruptcy protection, will pay most hourly workers more than $4,000 each as compensation for the company’s strong financial performance last year, the person said. The payments are more than double the previous record payment of $1,775 in 1999, the height of the boom in sales of sport-utility vehicles and pickup trucks. Get the full story »
Auto sales out of the gates quickly in ‘11
U.S. auto sales jumped about 18 percent in January, led by gains for General Motors Co. and Chrysler.
The stronger U.S. auto sales results pointed to a recovery in American consumer demand and a return of easier lending terms by banks, auto executives and analysts said, despite the threat of higher oil prices. Get the full story »
GM’s next Volt challenge: cut the price
The Volt has won nearly every major award offered and stirred up tons of interest, but one criticism persists: It’s too expensive.
The next-generation Volt will almost certainly cost less than the $41,000 list, GM spokesman Rob Peterson said. And the changes that make it cheaper should make it better, too. Get the full story »
GM withdraws application for Energy Dept. loans
General Motors Co. has withdrawn its application for $14 billion in subsidized loans from the Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles on its own.
The move could provide a public-relations boost to GM, which has struggled to distance itself from a $50 billion bailout and the stigma of having become ”Government Motors” after being restructured in bankruptcy. Get the full story »
GM speeds national rollout of Volt to year-end
General Motors’ top car designer says the company will accelerate distribution of the Chevrolet Volt electric car so it’s sold in every U.S. state by the end of this year.
Design chief Ed Welburn made the announcement Thursday in a speech at the Washington, D.C., auto show. Get the full story »
GM expands recall of trucks for rear axle problem
General Motors is expanding a recall of some 2011 trucks and SUVs to fix a problem that could cause the vehicles’ rear axles to lock.
The recall, originally announced in December, now covers 26,751 Cadillac, Chevrolet and GMC trucks and SUVs. The models affected are: Cadillac Escalade, Escalade ESV and Escalade EXT; Chevrolet Avalanche, Colorado, Silverado, Suburban and Tahoe; and GMC Canyon, Sierra, Yukon and Yukon XL. Get the full story »
Edge, MKX, Tahoe lose Consumer Reports’ luster
Ford Motor Co.’s midsize SUVs, the Ford Edge and Lincoln MKX, have lost a “recommended” rating from Consumer Reports, in part because of a complex audio and interior controls system, the influential magazine said Tuesday.
Consumer Reports said reviewers found the MyFord Touch and MyLincoln Touch systems, which allow drivers to operate audio, climate control and navigation systems using a touchscreen or voice commands, to be “a complicated distraction while driving.” Get the full story »
