July 30, 2010 at 2:34 p.m.
Filed under:
Autos,
Government,
Transportation
By Problem Solver
The government’s criteria for testing vehicles’ crash safety ratings are a-changin’.
For the past 30 years, the National Highway Traffic Safety Administration has been using its 5-star testing program to test how well vehicles sustain potential crashes. That rating system will soon expand to testing how well vehicles avoid accidents in the first place.
In other words, under these new guidelines, it’s going to become much more difficult for a vehicle to earn a 5-star safety rating, meaning it’s about to get easier for consumers to identify safe cars.
July 30, 2010 at 1:08 p.m.
Filed under:
Autos,
Jobs/employment,
Manufacturing
By Associated Press
Chrysler Group LLC said Friday that it will add nearly 900 jobs at a factory in suburban Detroit and spare it from closure. The decision is a show of optimism that consumers will embrace the company’s refurbished midsize sedans.
The jobs will staff a second shift at Chrysler’s assembly plant in Sterling Heights, Mich., just north of Detroit, which makes the slow-selling Dodge Avenger and Chrysler Sebring midsize sedans. Get the full story »
July 30, 2010 at 11:46 a.m.
Filed under:
Autos,
Policy,
Politics
By Associated Press
President Barack Obama jogs in as he his introduced before delivering remarks during his visit to the Jefferson North Chrysler Plant in Detroit, Friday, July 30, 2010, where the Jeep Grand Cherokee is assembled. (AP Photo/Pablo Martinez Monsivais)
President Barack Obama says his administration’s bailout out of U.S. car companies saved more than 1 million jobs and kept communities that depend on the auto industry afloat. Speaking at a Chrysler plant in Detroit that recently hired more than 1,000 people, Obama said progress in the auto industry is one of the bright spots in the nation’s economic recovery. He says that while the auto bailout may not have been popular, the recent growth of car companies is proving critics wrong.
July 30, 2010 at 6:59 a.m.
Filed under:
Autos,
M&A
From Auto Remarketing | Avis Budget has put Dollar Thrifty into play with a $1.3 billion offer for the rival car rental operation. This tops a $1.2 billion offer from Hertz.
July 29, 2010 at 11:01 a.m.
Filed under:
Autos,
Earnings
By Reuters
Auto parts maker Tenneco Inc. on Thursday posted a second-quarter profit that surged past Wall Street expectations, as auto production rose by 72 percent in North America, its largest market.
Tenneco shares rose more than 6 percent in morning trading, to $25.61. Get the full story »
July 29, 2010 at 10:38 a.m.
Filed under:
Autos,
China,
M&A
By Reuters
China’s regulator has approved Geely’s acquisition of Ford’s Volvo unit, clearing one of the last remaining hurdles to the high-profile deal, a source with knowledge of the matter said Thursday.
The deal could be completed as early as next week, said the source, who spoke on the condition of anonymity as the discussions remain private. Get the full story »
July 29, 2010 at 9:44 a.m.
Filed under:
Autos,
Recalls
By Reuters
Toyota Motor Corp. said Thursday that it would recall nearly 417,000 high-end passenger cars and SUVs in the United States and Canada to fix steering problems.
The recalls of Toyota Avalon sedans and Lexus LX470 sport-utility vehicles pushes the number of vehicles Toyota has recalled over the past year globally to nearly 11 million, marring its reputation for quality. Get the full story »
July 29, 2010 at 5:43 a.m.
Filed under:
Autos,
Earnings
By Associated Press
Nissan Motor Co. veered back into the black in its latest quarter as global car sales rebounded, while its smaller rival Mitsubishi Motors Corp. narrowed its quarterly loss.
July 28, 2010 at 1:24 p.m.
Filed under:
Autos,
Economy,
Government,
Housing,
Jobs/employment
By Reuters
Overall U.S. economic activity is still increasing but not robustly and in a few districts has lost steam over the past several weeks, the Federal Reserve said Wednesday.
The Fed’s latest Beige Book summary of national economic conditions, based on information before July 19, pointed to a less-than-booming recovery with sluggish housing markets and sales of costly items like new cars weakening. Get the full story »
July 27, 2010 at 5:01 p.m.
Filed under:
Autos,
Updated
By Reuters
The Chevy Volt.
General Motors Tuesday set a price of $41,000 for its electric Chevrolet Volt — $8,000 more than its nearest competitor, the Nissan Leaf.
GM also said Tuesday that it has begun taking orders for the Volt and would offer a $350 per month lease option for the much-anticipated vehicle as it launches in a handful of U.S. markets beginning with California. Get the full story »
By Reuters
Toyota Motor Corp. has pushed back plans to build its Prius in the United States by as much as six years, with a top executive saying U.S. production is likely to start only when the best-selling hybrid is remodelled. Get the full story »
July 26, 2010 at 12:47 p.m.
Filed under:
Autos,
Recalls
By Reuters
2010 Nissan Cube
Nissan Motor Co. is recalling 51,100 Cube compacts in North America after U.S. safety regulators said a fuel leak could cause fire after a crash, the regulator and the automaker said Monday.
The chance that 2009 and 2010 Cubes could leak fuel if struck from the rear at 50 miles per hour led to the recall, documents from the National Highway Traffic Safety Administration show. Get the full story »
July 26, 2010 at 11:11 a.m.
Filed under:
Autos,
Jobs/employment,
Updated
By Tribune staff report
For 2011, Explorer gets a lower profile and improved fuel economy.
The 2011 Ford Explorer was revealed in rock-star fashion this morning on stage at Millennium Park, bursting through a faux wooden crate stamped “Chicago” as vamping guitar music played.
“I believe it’s the most dramatic reinvention yet,” said Bill Ford, executive chairman of Ford Motor Company.
Governor Pat Quinn said there was competition to bring the vehicle to Chicago, a move that will bring 1,200 jobs to the South Side assembly plant here. Get the full story »
July 23, 2010 at 12:12 p.m.
Filed under:
Autos
By CNN
When the Lincoln MKZ Hybrid sedan goes on sale in the fall, the price will probably surprise a lot of people. The sticker price will be $35,180 — exactly the same as the non-hybrid version of the car.
Hybrid cars generally cost considerably more than non-hybrid versions of the same car. In many cases the extra cost of the car can cancel out what the owner saves on gas. Get the full story »
July 23, 2010 at 6:32 a.m.
Filed under:
Autos,
Earnings
By Reuters
Ford Motor Co posted stronger-than-expected quarterly earnings and said it was on track for “solid profits” in 2010 and higher profits in 2011, sending its shares up 4 percent in premarket trade.
Second-quarter net profit rose to $2.6 billion from $2.26 billion a year earlier. Earnings per share fell to 61 cents from 69 cents due to an increase in outstanding shares. Revenue was $31.3 billion, up $4.5 billion.
Get the full story »
