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Shares of U.S. automakers may finally be able to accelerate, reports Reuters. Investors are closely awaiting next week’s May sales data, expected to come in near record levels. Meeting those forecasts could be enough to lift the sector – among the cheapest in the market – putting the sting of product recalls and tepid recent ... Read More »
Read More →It’s been the best of times for auto dealers since the recession. Those that survived picked up business from those that didn’t. They reorganized their operations to be leaner and more efficient. Auto sales soared 59 percent to 16.5 million last year from the 2010 low point, reports The Detroit News. But reports from two ... Read More »
Read More →DETROIT – Ford Motor Co.’s total U.S. vehicle sales slid 1 percent year-over-year to 250,813 units in May, with retail sales down 2 percent to 171,535 vehicles and fleet sales flat at 79,278 units, reports mlive. While trucks and SUVs have been strong sales drivers in the U.S. for automakers this year, Ford’s results were ... Read More »
Read More →As part of an agreement with Takata, federal regulators expanded the recall of vehicles equipped with the company’s air bags to 33.8 million in the U.S., making it the largest safety recall in the nation’s history, reports Detroit Free Press. The move essentially doubles the number of vehicles being recalled to replace potentially lethal air ... Read More »
Read More →CLARKSVILLE, Ind. — Manheim Louisville has rescheduled its Cruisin’ for Wishes car show and fundraiser for June 13, after the event was rained out on May 16. The Criusin’ for Wishes car show will be held from 10 a.m. to 3 p.m. at Manheim Louisville. Registration for the car show begins at 9 a.m. and ... Read More »
Read More →Shares of Fiat Chrysler Automobiles NV closed up 13 cents to $15.60 a share on Tuesday, a dime higher than Ford Motor Co. — the second time this week that shares of the Auburn Hills automaker have topped its Dearborn rival, reports The Detroit News. Ford stock was down 8 cents Tuesday, dropping 2.6 percent ... Read More »
Read More →DETROIT, MI – Ford Motor Co. said Tuesday it is recalling 12,300 F-150 pickup trucks from the 2015 model year for a potential steering issue, reported MLive. The Dearborn automaker said the safety recall involves “an upper I-shaft that might have been riveted improperly, potentially causing it to separate.” If that happens, it could result ... Read More »
Read More →Ford Motor Co said it was expanding a recall to include 156,000 more vehicles to fix a potential door latch malfunction, reported Reuters. The recalls include certain Ford Fiesta, Fusion and Lincoln MKZ models. The company recalled about 390,000 of the three vehicle models in North America last week to fix the same issue. The ... Read More »
Read More →DETROIT – Amid struggling hybrid and electric vehicle sales, Ford Motor Co. is laying off 700 workers at its Michigan Assembly Plant, according to the Detroit News, reported MLive. The cuts include 673 hourly and 27 salaried employees, beginning June 22. Some of the hourly workers will be redeployed amid summer vacations, and some salaried ... Read More »
Read More →Ford Motor Co Chief Executive Officer Mark Fields made $18.6 million in salary and other compensation last year, below the $23.2 million that predecessor Alan Mulally received in 2013, the company said on Friday, reported Reuters. Last year’s compensation for Fields, 54, was for half the year as CEO and half as chief operating officer. ... Read More »
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