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Honda Motor Co has chosen a competitor of embattled Takata Corp to supply air bags for the next North American version of its Accord sedan, the automaker’s best-selling vehicle, two people with knowledge of the decision said, reported Reuters. In the first major defection by a carmaker since Takata’s safety crisis began, Honda, Takata’s largest ... Read More »
Read More →Hyundai Motor Co announced its biggest-ever dividend on Thursday to appease shareholders angered by a $10 billion property buy, but the payout failed to distract investors from growth prospects clouded by declines in the rouble and yen, reported Reuters. Shares of the Korean automaker – the world’s fifth-biggest when paired with sister Kia Motors Corp ... Read More »
Read More →Kia Motors is recalling 86,880 Forte sedans in the United States because a cooling fan resistor may overheat and melt, increasing the risk of a fire, according to documents filed by U.S. auto safety regulators, reported Reuters. The recall involves certain model year 2014 Forte compact sedans and is expected to begin on Feb. 24, ... Read More »
Read More →U.S. safety regulators said on Friday they have opened an investigation into an estimated 50,415 newer Jeep Cherokee SUVs, a key model for the profitability of Fiat Chrysler Automobiles, after receiving complaints of engine compartment fires, reported Reuters. The U.S. National Highway Traffic Safety Administration said it opened the preliminary evaluation into the 2015-model SUVs ... Read More »
Read More →DETROIT – Speaking in the Motor City on Tuesday, electric carmaker Tesla Motors’ co-founder and CEO Elon Musk again dismissed hydrogen fuel cell-powered cars as irrational, reported MLive. “I just think they’re extremely silly,” he told reporters at Automotive News’ annual World Congress. His comments came on the same day Honda Motor Co. showed off ... Read More »
Read More →A U.S. judge on Thursday refused to let plaintiffs’ lawyers suing General Motors Co access notes from lawyers the company hired to prepare an internal report on the automaker’s decade-long mishandling of a deadly ignition-switch flaw, reported Reuters. U.S. District Judge Jesse Furman in Manhattan said interview notes from the “Valukas report” – named for ... Read More »
Read More →General Motors’ ignition compensation fund said Monday it has approved 49 death claims, four more than the previous week, along with five new injury claims, reported The Detroit News. In total, GM compensation adviser Kenneth Feinberg has approved claims for 49 fatalities and 72 injury claims linked to defective ignition switches through Jan. 16, his ... Read More »
Read More →WASHINGTON — The American Bankers Association (ABA)’s chief economist said this month he is optimistic that the economy will continue its upward trend. Driving his positive outlook are rising consumer confidence and falling delinquency rates. In the third quarter 2014, delinquencies for seven out of the 11 credit categories monitored by the ABA showed declines. ... Read More »
Read More →SANDY, Utah — Larry H. Miller Groups of Companies will now offer its in-house F&I products to dealerships across the U.S. through its new captive finance administrator, Total Care Auto (TCA). Last week, the dealer group announced that Bryant Henrie, the president of its captive finance arm, Prestige Financial Services Inc., will step into the ... Read More »
Read More →WEST WHITELAND, Pa. — An auto dealer who was arrested in November for fraud offenses is facing additional charges after Pennsylvania State Police investigators uncovered several other alleged victims, Mainline Media News reports. David C. Coughlin was initially charged with selling a woman’s 2012 Porsche 911 Turbo on consignment for $80,000 and keeping the money ... Read More »
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