Hyundai Motor America, the largest automaker to report Tuesday, said its U.S. sales rose 38 percent last month to 42,656 vehicles from 31,005 the previous year.The gain was led by sales of the Sonata, which totaled 17,505. That was more than double a year ago. The automaker introduced turbo and hybrid versions of the model.
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Toyota asks court to dismiss acceleration lawsuits
Toyota Motor Corp. is asking a federal court to throw out lawsuits over acceleration defects in its cars, saying many of the plaintiffs never identified any defect or experienced sudden, unintended acceleration. Get the full story »
Navistar plans test facility at Melrose Park plant
Navistar International Corp. has announced plans for a new testing facility at its plant in the Chicago suburb of Melrose Park.
Navistar leaders said Friday that they plan to invest up to $90 million in the 80-acre campus over the next few years. Get the full story »
Ford stock rally could be boon to GM IPO
Ford Motor Co.’s emergence as Detroit’s darling may have fueled jealousy at General Motors Co headquarters, but the archrival’s rising shares could help GM as it readies its landmark return to public markets. Get the full story »
GM to repay taxpayers $2.1B as it prepares for IPO
In a series of moves that pave the way for an IPO and strengthen its finances, General Motors Co. said on Thursday it would repay $2.1 billion to U.S. taxpayers and make early payments to pension and retiree health plans.
The announcement comes just days before bankers are expected to begin a road show for potential investors in an initial public offering that would allow the U.S. government to start to reduce its stake in the top U.S. automaker.
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Profit soars at Honda, Mazda on sales growth
Japanese automakers Honda and Mazda posted hefty profits despite a strengthening yen as the global recovery and government incentives for green cars drove sales higher.
Suit: Toyota buried sudden acceleration evidence
Toyota Motor Corp. bought back cars from drivers who reported sudden acceleration defects, but the company didn’t tell federal regulators about it, according to court documents filed in litigation against the automaker.
Plaintiffs’ lawyers contend the Japanese company compelled the owners to sign confidentiality agreements that prevented them from speaking publicly about the issues they encountered. Get the full story »
Chrysler to pump $600M, new car into Belvidere
Chrysler Group LLC will invest $600 million in its Belvidere assembly plant to build new cars starting in 2012, the company announced Thursday.
The investment won’t create any new jobs, but the company said it will retain the 2,349 jobs at the plant and a nearby parts stamping plant. Get the full story »
GM to add new small Cadillac
General Motors Co. has announced plans to spend $190 million to build a new Cadillac small car at its Lansing Grand River plant. Get the full story »
LKQ Corp. tops Street; company ups earnings view
Automobile-parts recycler LKQ Corp. posted third-quarter results that beat market estimates, partly helped by a rise in its parts and services revenue, and raised its full-year 2010 adjusted earnings outlook.
LKQ, with a market value of about $3.14 billion, buys wrecked cars at auctions and salvages reusable parts like engines and doors, and distributes them to mechanical repair shops or directly to customers. Get the full story »
Nissan recalls 2 million vehicles worldwide
Nissan is recalling 2.14 million vehicles worldwide including the popular March and Mycra subcompacts for an ignition problem that may stall the engine — its third-largest recall ever.
Power says electric cars just don’t have the spark
A well-known auto industry forecasting firm on Wednesday suggested that the heavily promoted battery-powered vehicles about to appear are headed for a much slower takeoff then some auto makers and industry analysts expect.
In a new study, J.D. Power & Associates said sales of electric cars are likely to remain low for several years and won’t make up more than a small slice of the global market even 10 years down the road. Get the full story »
Looking for a car? Try 007’s Aston Martin
The 1964 Aston Martin DB5 used in the Goldfinger and Thunderball films is displayed prior to being featured in the "Automobiles of London" rare car auction in Battersea Park in London. (Oli Scarff/Getty Images)
For the discerning driver, it’s got an ejector seat, machine guns, and a world-class pedigree. Problem is, it’s going to cost a truckload of dough.
One of the world’s most famous James Bond cars — the specially-equipped Aston Martin first driven by Sean Connery in “Goldfinger” — will be auctioned in London on Wednesday evening, and it’s likely to fetch one of the highest prices ever paid for an automobile.
The unique car, which also has rotating license plates and other spy gear, is expected to go for more than 3.5 million pounds ($5.5 million).
The silver Aston Martin DB5 coupe was used by Connery to elude various villains in both “Goldfinger” and “Thunderball” — generally regarded as early classics in Hollywood’s longest running and most successful film franchise. Get the full story »
Ford, other automakers announce Michigan jobs
Michigan’s auto industry could get a boost — including the possibility of more than 2,000 additional jobs at the Detroit area’s biggest carmakers — from projects assisted with state tax incentives announced Tuesday.
Ford Motor Co., General Motors Corp. and Chrysler Group LLC were among the 16 companies with projects granted tax incentives by a state board.
It’s not clear exactly how many new jobs might be created directly at the companies awarded the tax incentives. But the new jobs could top 2,000 with the Detroit-area automakers alone, if all projects — including some in the early stages — materialize as planned. Get the full story »
