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The government on Tuesday plans to release the findings of its investigation into reports of sudden acceleration in Toyota vehicles.
The Transportation Department and NASA have been studying the safety issues that led Toyota to recall more than 11 million vehicles since the fall of 2009. Get the full story »
Chrysler Group LLC is hoping to catch its rivals off guard during the Super Bowl by running an unusual two-minute commercial during the most heavily watched U.S. television event of the year.
The U.S. automaker plans to run the ad during the third quarter of the National Football League’s championship game on Sunday, being played by the Green Bay Packers and Pittsburgh Steelers, Chrysler Chief Executive Sergio Marchionne said on Friday at a J.D. Power conference in San Francisco. Get the full story »
Chrysler is working to refinance what its chief executive characterized as “shyster loans” that the Obama administration extended as part of a bailout to keep the automaker from collapse in 2009.
“I want to pay back the shyster loans,” Sergio Marchionne said at an industry conference, using a derogatory term for an unprincipled lawyer or politician. “Pay back the loans, get those out and then take (the company) public.”
Marchionne, who is also CEO of Italy’s Fiat SpA, has said repeatedly that the high interest rates on $5.7 billion that Chrysler owes to the U.S. Treasury have been an obstacle in the automaker’s return to profitability. Get the full story »
In an effort to put 1 million electric cars on the road by 2015, the Obama administration has proposed a plan that would put up to $7,500 directly in the hands of car buyers without having them jump through any tax hoops. Plug-in car advocates love the idea but dealers aren’t so sure about it.
Under the proposal, auto dealers and finance companies would take the tax credit for themselves and give customer’s a simple on-the-spot discount. Get the full story »
Automotive News | Speaking at an auto industry conference in San Francisco, Chrysler and Fiat CEO Sergio Marchionne said Friday that the two companies could merge as a U.S.-based automaker after a Chrysler IPO.
2011 Outlander Sport
Mitsubishi will invest $45 million to produce a new Outlander Sport crossover at its Normal plant beginning in 2012, the company announced Friday with Gov. Pat Quinn.
The deal is backed by $30 million in tax incentives and is expected to breathe new life into a facility that has faced an uncertain future for years. Get the full story »
Mitsubishi Motors Corp. is poised to announce the production of a new vehicle at its Normal plant today in a deal backed by $30 million in government incentives. The deal is expected to breathe new life into a facility that, for years, has operated with an uncertain future.
The plant produces the Galant, Endeavor, Eclipse and Eclipse Spyder, among the oldest and least popular of the Mitsubishi line. The Japanese auto manufacturer has announced plans to phase out their production by 2014, a move that would have eventually meant layoffs in Normal and an end to Mitsubishi production in the U.S. Get the full story »
Ford Motor Co. is recalling nearly 363,000 F-150 pickup trucks in North America because of a potential problem with the interior door handles, the U.S. National Highway Traffic Safety Administration reported Thursday.
Ford has recalled more vehicles in the first few weeks of this year — nearly 900,000 — than in all of 2010 when about 600,000 were recalled. Get the full story »
U.S. auto sales jumped about 18 percent in January, led by gains for General Motors Co. and Chrysler.
The stronger U.S. auto sales results pointed to a recovery in American consumer demand and a return of easier lending terms by banks, auto executives and analysts said, despite the threat of higher oil prices. Get the full story »
The Volt has won nearly every major award offered and stirred up tons of interest, but one criticism persists: It’s too expensive.
The next-generation Volt will almost certainly cost less than the $41,000 list, GM spokesman Rob Peterson said. And the changes that make it cheaper should make it better, too. Get the full story »
Chrysler Group LLC, the automaker managed by Fiat SpA, reported a $199 million net loss for the fourth quarter Monday and it expects to be profitable this year, when it plans to go public.
Chrysler, which emerged from a U.S. government-funded bankruptcy in mid-2009, reported fourth-quarter revenue of $10.76 billion, a slight drop from the third quarter due to fewer fleet sales. Get the full story »
Ford earned its biggest profit in more than a decade in 2010 as robust car and truck sales and years of cost cuts paid off for the company.
The results disappointed Wall Street, however, and Ford’s stock price fell 6 percent to $17.73 in premarket trading. The reaction hinted at the difficulties the company still faces, even though it’s remade itself in recent years.
General Motors Co. has withdrawn its application for $14 billion in subsidized loans from the Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles on its own.
The move could provide a public-relations boost to GM, which has struggled to distance itself from a $50 billion bailout and the stigma of having become ”Government Motors” after being restructured in bankruptcy. Get the full story »
General Motors’ top car designer says the company will accelerate distribution of the Chevrolet Volt electric car so it’s sold in every U.S. state by the end of this year.
Design chief Ed Welburn made the announcement Thursday in a speech at the Washington, D.C., auto show. Get the full story »
Ford Motor Co. is recalling about 525,000 older model Windstar minivans in cold-weather areas because corrosion could cause a parts under the van to separate and reduce steering control, company and federal government officials said Wednesday.
About 425,000 of the Windstars are registered in the United States, about 100,000 in Canada, and fewer than 750 in other countries, Ford said. Get the full story »
