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Federal-Mogul Corp. is recalling 22,689 replacement control arm assemblies in certain older model Chrysler vehicles after it found a fault that could cause vehicles to crash.
The Michigan-based auto parts supplier said a part of the assembly, a ball stud, could wear through the assembly housing, causing the driver to lose steering control, according to a notice filed with the U.S. National Highway Traffic Safety Administration. Get the full story »
Tesla Motors shares fell the most since early July Monday, the first day insiders could sell shares that they bought during the electric carmaker’s initial public offering six months ago. Get the full story »
When plugged into a car's computer, the Allstate Drive Wise device can monitor driving habits and reward the good ones.
Allstate has launched a voluntary program that uses a device installed in a car to reward safe and low-mileage Illinois drivers with savings of up to 30 percent.
The Northbrook-based auto insurer plans to expand the program, called Drive Wise, to other states as early as the second quarter of 2011.
Allstate Drive Wise participants get a small, wireless gadget that plugs into their vehicle’s onboard computer through the diagnostic port, usually under the dashboard.
For consumers concerned about Big Brother, Allstate said the device tracks only factors used to calculate a driving score, including mileage; driving time of day; hard or extreme braking; and maximum speed.
Get the full story »
Business travel is coming back, and the airline and hotel industries are reaping the benefits. But a less obvious beneficiary is the rental car industry.
During the recession, demand for rentals dropped, particularly among business travelers. In addition, many rental companies had an oversupply of cars bought under special deals offered by manufacturers, pushing rates further down. As a result, many rental car companies held on to automobiles longer, providing their customers with cars that already had 30,000 miles or more.
But starting late this year, the nation’s largest rental car companies began to see business — and revenue — grow again.
General Motors Co. is recalling nearly 96,000 Cadillac CTS cars for the model years 2005 to 2007 because a front passenger air-bag sensor could break and disable the bag.
Repeated “flexing” of the passenger sensing system mat in the front seat could cause the mat to “kink, bend or fold,” GM said according to a notice posted on U.S. safety regulators’ Web site Thursday. Get the full story »
Honda Motor Co. is recalling about 10,800 Accord sedans and Pilot sport utility vehicles to prevent possible front suspension failure. Get the full story »
Fast growing Korean manufacturer Hyundai Motor and its Kia Motors affiliate shared the top spot for crash safety in a broad review of 2011 models. (See the full list)
Volkswagen and its luxury Audi brand also were among the 66 passenger cars and sport utilities garnering the highest ratings published by the Insurance Institute for Highway Safety. Get the full story »
Toronto-Dominion Bank has agreed to buy Chrysler Financial, the automaker’s old lending arm, from private equity firm Cerberus Capital Management LP for $6.3 billion. Cerberus acquired the lender when it bought most of the automaker for $7.4 billion in 2007. Cerberus lost control of Chrysler when the automaker nearly ran out of cash and faced liquidation in 2008. Get the full story »
Demand for new cars will likely spike in 2011 among consumers who lenders will be happy to do business with: those with very high credit scores.
More than 60 percent of the leases expiring next year are held by borrowers in the “super prime” category, meaning they have credit scores of 720 or better, reflecting excellent on-time payment histories, according to TransUnion, a Chicago-based credit reporting agency. Get the full story »
The world’s biggest gas-guzzling nation has limits after all.
After seven decades of mostly uninterrupted growth, U.S. gasoline demand is at the start of a long-term decline. By 2030, Americans will burn at least 20 percent less gasoline than today, experts say, even as millions of more cars clog the roads. Get the full story »
U.S. automakers and engine makers sued the Environmental Protection Agency Monday over its decision to allow higher blends of ethanol for newer cars, saying it could cause confusion at the pumps and damage engines in older vehicles.
The suit asks the U.S. Court of Appeals for the District of Columbia Circuit to send the decision back to the EPA and asks the court to review whether the decision violates the Clean Air Act. Get the full story »
For the second year, OnStar is teaming up with NORAD to track Santa Claus on his Christmas Eve flight around the world.
From 5 a.m. Dec. 24 until 4 a.m. Dec. 25, OnStar advisers will let subscribers know exactly where Santa is based on data from the North American Aerospace Defense Command, which has been following the old elf’s adventures for 54 years using North Warning Radar System, geo-synchronous satellites with infrared sensors and Santa Cams. Get the full story »
Negotiators for Caterpillar Inc. and the United Auto Workers are taking a break for the holidays and plan to resume talks on a contract on Jan. 11. The contract covers about 9,500 workers at a number of sites around Illinois and in three other states. Get the full story »
Honda is recalling about 35,000 Passport sport-utility vehicles to inspect brackets on the rear suspension that could detach and lead to a crash.
The recall involves Passports from the 1998-2002 model years and is limited to 21 states and the District of Columbia where road salt is used during the winter. Get the full story »
