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Fiat and Chrysler CEO Sergio Marchionne says he wants to pay back the loans Chrysler got from the U.S. and Canadian governments this year if he can.
Marchionne said Friday that he remains committed to that in remarks to reporters while at a Chrysler plant in Brampton, Ontario, where he met with employees to celebrate the production launch of the redesigned 2011 Chrysler 300, Dodge Charger and Dodge Challenger. Get the full story »
Caterpillar Inc. suspended a plan to build mining shovels at its Aurora facility, which would have created 300 jobs through 2014.
The change of plans is due to the company’s acquisition of South Milwaukee-based Bucyrus International, a maker of shovels, walking draglines, drills and other mining equipment. The $7.6 billion deal, which was announced in November, is expected to close in mid-2011.
The company said in a statement that it suspended the all development and capital investment for mining shovels in Aurora “to conserve resources and eliminate business risks associated with internal development.” Get the full story »
A licensing agreement among LG Chem, Argonne National Laboratory and General Motors will result in lighter, more powerful lithium-ion batteries for the Chevrolet Volt.
The deal, announced Thursday, gives LG Chem and GM U.S. access to Argonne’s patented lithium- and nickel-manganese-cobalt cathode combination that will be used to extend range between charges, increase battery life and improve the safety of lithium-ion cells.
“This is cutting-edge technology that is going to improve future electrified vehicles — pure electrics, extended-range electrics and plug-in hybrids,” Jon Lauckner, president of GM Ventures, said of the second generation cathode material. Get the full story »
The 2012 Buick Verano. (GM)
Buick’s long-awaited compact sedan, the 2012 Verano, bows Monday at the Detroit Auto Show.
Built off the same platform that carries the Chevy Cruze and Opel Astra, the front-wheel-drive Verano will have 1.4-liter, 180-horsepower turbo 4-cylinder as its base engine with a 6-speed automatic transmission, according to Edmunds.com, which said it will be priced from $22,500. Get the full story »
An arbitrator has awarded Toyota $2.6 million in damages against a former in-house attorney who turned into a whistleblower and sued the automaker.
Toyota Motor Corp., faltering from recalls, has fallen into a statistical tie with Ford Motor Co. for tops in U.S. consumer brand perception, influential magazine Consumer Reports said Wednesday.
Toyota retained the top spot by a slim margin over Ford in the Consumer Reports 2011 survey that was conducted last month. Honda Motor Co. placed third and Chevrolet fourth. Get the full story »
The OnStar safety system is escaping from the boundaries of General Motors and will be available in the spring to people who own cars and trucks made by other auto companies.
To get the service, though, people have to buy a special OnStar rearview mirror for $299 and then pay a monthly fee that starts at $18.95. Get the full story »
Nissan Motor Co. reported a 28 percent increase in U.S. auto sales for December, growth that outpaced the broader industry, as car and truck sales each notched large gains.
Japan’s second-biggest car maker by worldwide sales volume after Toyota Motor Corp. reported it sold 93,730 vehicles during the month, up from 73,404 a year earlier and 31 percent more than November. Car sales grew 26 percent, while truck sales were up 32 percent. Get the full story »
Toyota Motor Corp.’s U.S. auto sales dropped 5.5 percent in December, the seventh monthly drop in 2010, as a decline in car sales again more than offset stronger demand for larger vehicles.
Adding to the woes, Toyota sold 6,554 fewer vehicles in 2010 than a year earlier, coming in at 1.76 million. It was the only major U.S. automaker to report a sales decline for the year, though absent the two fewer selling days in 2010, Toyota reported sales for the year were up 0.3 percent on a daily selling rate. Get the full story »
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 »
Ford Motor Co. says its U.S. sales rose 15 percent in 2010 thanks to strong demand for its pickups and sedans.
The company sold 1.9 million cars and trucks and grabbed market share from rivals including General Motors and Toyota. Ford says 2010 was the second year in a row it gained U.S. market share, its first back-to-back increase since 1993. Get the full story »
General Motors posted a 7.5 percent rise in U.S. auto sales in December on Tuesday, capping a year of gradual recovery for the industry overall that is expected to continue in the new year. Get the full story »
Seven insurance companies have sued Toyota Motor Corp. in an attempt to recover money paid to cover crashes they blame on sudden acceleration.
The insurers cite data that blames 725 crashes on the problem and fault the Japanese automaker for failing to equip its cars with an override system that would cause a car to idle if the brake and gas were deployed simultaneously. They are seeking damages in excess of $230,000 from 14 crashes throughout the United States.
Chrysler is recalling nearly 150,000 trucks and SUVs to address several problems, including steering, air bag issues and the potential for trucks to stall.
The recalls were posted Thursday on the National Highway Traffic Safety Administration’s Web site. Get the full story »
Automakers recalled about 20 million vehicles in 2010, led by high-profile recalls by Toyota that prompted new scrutiny of the auto industry’s safety record.
