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Ford’s Lincoln luxury car brand scored No. 1 in dependability in the latest annual survey from J.D. Power and Associates, its first time in the top spot.
The survey asks owners of three-year-old cars how many problems they’ve had with their vehicles. The results are then tallied in terms of the problems per 100 vehicles. Get the full story »
Midwest manufacturing continued its recovery in January, led by improvement in the auto industry, according to the Federal Reserve Bank of Chicago. The Chicago Fed’s monthly manufacturing index increased 1.1 percent in January, to a seasonally adjusted 84.1. Get the full story »
The government’s bailout of banks, auto makers and insurers helped prevent a more severe economic crisis, but might have sowed the seeds of the next one, a congressional watchdog group said Wednesday in its final report.
The Congressional Oversight Panel said that the government’s rescue fund may have prevented an economic depression by sending billions of dollars to companies crippled in financial crisis that erupted in 2008. But little has been done to aid to homeowners facing foreclosure or others far from Wall Street, it said. Get the full story »
After just 14 months at General Motors Co., Chief Financial Officer Chris Liddell is leaving the automaker, possibly to pursue a job as a CEO at another company.
On Thursday, GM said Liddell would be replaced by Treasurer Dan Ammann, a former Morgan Stanley managing director, starting April 1. Get the full story »
Navistar International Corp. reported a fiscal-first-quarter loss as results weakened at each of the commercial-truck maker’s main manufacturing segments. Still, Chairman and Chief Executive Daniel C. Ustian said encouraging industry trends should push full-year earnings to the high end of its previously projected guidance of $5 to $6 a share. Get the full story »
Toyota Motor Corp. is aiming for an auto industry first by reaching annual sales of 10 million vehicles by 2015 even as it acknowledges that overly rapid growth was at the root of its recall fiasco. Get the full story »
Ford Motor Co. has rewarded CEO Alan Mulally with stock worth $56.5 million before taxes.
Toyota Motor Corp. will recall about 22,000 vehicles because a tire-pressure monitoring system might fail to notify drivers of a flat or deflated tire. The recall affects Toyota Sequoia, FJ Cruiser, Land Cruiser, Tacoma and Tundra vehicles from 2008-2011.
Toyota has recalled more than 13 million vehicles since September 2009 in the U.S., including one recall of more than 2 million vehicles to correct problems with floor mats and other issues that could cause unintended acceleration.
Meanwhile, Chrysler Group will recall about 20,000 Jeep Wranglers from model years 2010 and 2011 to tighten the fasteners that attach the axles to the chassis. Federal safety regulators said the loose fasteners could lead to a loss of steering control, increasing the risk of a crash.
And American Honda Motor Co. will recall about 37,000 Civic hybrids from 2006-2007 to replace a voltage converter that can cause the engine to stall and prevent the car from being restarted.
Ford Motor Co. has settled a lawsuit in which it accused Italian automaker Ferrari of infringing its trademark for the popular F-150 truck.
Ford dropped the case Thursday, according to a filing with the U.S. district court in Detroit. Terms were unclear from the filing. Get the full story »
A U.S. Federal court judge on Thursday said he would approve the bankruptcy plan for “Old GM”, paving the way for General Motors to begin distributing stock and warrants to some unsecured creditors, a spokesman said. Get the full story »
Yellow sac spider
Mazda is recalling about 52,000 Mazda6 sedans, because yellow sac spiders like to build their nests in part of the fuel system.
“A certain type of spider may weave a web in the evaporative canister vent line and this may cause a restriction of the line,” Mazda said in a letter to the National Highway Traffic Safety Administration.
The evaporative canister vent line runs from a charcoal-filled canister that cleans air coming out of the gas tank. Blockage of the line can prevent air from getting into the gas tank as the gasoline is used, which causes a pressure problem that can lead to a crack in the gas tank and the possibility of a fire.
There have been 20 reported cases of spider infestation in the Mazda6 — all have been in cars with 4-cylinder engines, none with V-6s.
Get the full story »
Chrysler Group LLC recalled more than 248,000 crossover wagons and minivans because of a defect that could allow the key to slip while driving, causing the engine to shut down without warning.
Chrysler, which is managed by Italy’s Fiat SpA, said it knew of two rear-end collisions that may have stemmed from this problem, according to a notice posted on the National Highway Traffic Safety Administration website on Thursday. Get the full story »
Ford recalled more than 34,000 vehicles worldwide spanning eight vehicle models due to the risk of a fuel leak or electrical issues.
The automaker is recalling 25,000 Ford Ranger trucks, including 23,688 in the United States, because the protective layer of an engine fuel line near the throttle body shield may not be properly installed. Eventually, this could lead to a fuel leak, Ford said in a notice posted on the National Highway Traffic Safety Administration website Wednesday. Get the full story »
Oil prices held near $100 a barrel Wednesday amid investor concern that the unrest in Libya could spread across the Middle East. The benchmark U.S. oil contract, West Texas Intermediate, was up 39 cents to $100.02 a barrel for April delivery. Get the full story »
February was one of the strongest months in the last year for auto purchases as renewed consumer confidence sent shoppers to car lots. General Motors reported a 45.8 percent increase compared with a year earlier, while Ford says its sales rose 14 percent.
