Ally Financial filed Thursday for an initial public offering that will allow the U.S. government to sell down its majority stake in the bailed-out auto and mortgage lender. Get the full story »
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Hyundai ending car buy-back program
No more Mr. Nice Guy. After Wednesday, if you buy a new Hyundai then lose your job within a year, you’re just going to have to keep the car. Get the full story »
Enterprise pulls rental cars from Orbitz
An Enterprise Rent-A-Car office at 849 Roosevelt Road in Lombard. Enterprise will no longer offer car rentals through Orbitz. (Carl Wagner/Tribune)
Orbitz Worldwide Inc. will stop selling auto rentals from Enterprise Holdings’ brands from April 1, after the online travel agent became embroiled in another contract dispute with a leading vendor.
Enterprise, the world’s largest auto rental company through its eponymous brand and Alamo and National units, said Tuesday it was ending its relationship with Chicago-based Orbitz “after months of difficult discussions.” Get the full story »
Honk if you want to stop your 2011 Jetta
A 2011 Volkswagen Jetta. (Courtesy Volkswagen/MCT)
Volkswagen of America is recalling about 71,000 2011 Jetta sedans for a wiring problem that could cause the car to turn off when the horn is used.
Under certain rare circumstances using the horn could cause a short circuit that would, in turn, cause an electronic part called a converter box to disconnect from the car’s power supply, a VW spokeswoman said. Get the full story »
LKQ arranges $1B in borrowing
Replacement car part maker LKQ Corp. said on Friday that it has arranged $1 billion in borrowing, replacing a $750 million line due to expire in October 2013. Get the full story »
Mazda suspends orders from U.S. dealers
Mazda Motor Corp. suspended U.S. dealer orders for vehicles built in Japan until further notice because of parts supply disruptions caused by the earthquake and tsunami earlier this month, a company spokesman said. 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 »
Some Fords won’t be painted black due to quake
Ford Motor Co. is limiting the production of certain colors of some trucks and other models because the earthquake and tsunami in Japan have disrupted the supply of pigments used in automobile paints, the auto maker told U.S. dealers on Thursday. Get the full story »
Toyota to restart hybrid vehicle output in Japan
Workers walk between newly-assembled Prius vehicles near Toyota's plant in central Japan, Feb. 9, 2010. (Reuters/Yuriko Nakao/Files)
Toyota said Thursday it would restart production of three hybrid models Monday after a massive earthquake this month disrupted output across the industry.
Production will resume for the Prius, Lexus HS250h and CT200h at the Tsutsumi factory in central Japan and Toyota Motor Kyushu in the south, spokeswoman Shiori Hashimoto said. Get the full story »
Toyota says it will slow some U.S. production
Toyota Motor will slow some U.S. production due to supply disruptions caused by the earthquake and tsunami in Japan. Get the full story »
UAW boss: Ford CEO’s pay ‘morally wrong’
Alan Mulally, CEO of Ford Motor Co., presenting the new Ford Sync system in Germany earlier this month. (Gallup/Getty)
United Auto Workers President Bob King went on the attack at the lucrative pay package of the Ford Motor CEO, saying it was ‘morally wrong’ that Mulally received stock worth about $54.5 million from the company.
“I think Alan Mulally is a great CEO, but I don’t think any human being in the world deserves that much money. I think it’s outrageous,“ said King, speaking to reporters during a three-day union convention in Detroit. King’s remarks come as the union prepares for the first set of labor negotiations with U.S. automakers since the bankruptcies at General Motors and Chrysler Group. Get the full story »
GM to sell preferred shares of Ally for $1B
General Motors Co. says it will sell all of its shares of a certain type in Ally Financial Inc., its former finance arm, for $1 billion. The shares to be sold represent all of Ally’s Series A preferred stock outstanding, the automaker said Tuesday. Get the full story »
Consumers better off buying Japanese cars now
If you’re in the market for a new car, but especially if you’re looking at a fuel-efficient Japanese model, experts say you’re better off buying now because prices will only get higher in coming weeks as the effects of the earthquake in Japan and the unrest in Libya and the Middle East start to be felt. Get the full story »
General Motors halts some production at plant
General Motors Co. is halting some production at its Buffalo, N.Y., engine plant because of a slowdown in parts from Japan. Get the full story »
Tires on Ford F-250s, F-350s being recalled
Continental AG’s North American unit is recalling about 391,000 tires, most of which were put on new Ford Motor Co F-250 and F-350 heavy duty pickup trucks, U.S. regulators said on Friday.
About 330,000 were put on the new trucks, and some were sold as replacements, Continental said of the tires made in Mexico from May 2007 to September 2008.
