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Monthly Archives: October 2012
Taiwan Auto Lights Maker Guilty of Price Fixing
A Taiwan-based auto lights manufacturer and its aftermarket U.S. distributor have pleaded guilty for participating in a seven-year, international conspiracy to fix the prices of auto lights. Tainan County, Taiwan-based Eagle Eyes Traffic Industrial Company and its U.S. subsidiary, Chino, … Continue reading
Cadillac ELR to be Built at Detroit-Hamtramck
Development of the Chevrolet Volt-based Cadillac ELR is now underway, and GM has just confirmed that the ELR will be built at the GM’s Detroit-Hamtramck plant. The on again/off again program is based on the Converj concept first shown at the 2009 North American International Auto Show as General Motors was hurtling toward a bankruptcy reorganization. Converj, err ELR, will be GM’s second hybrid after the Chevrolet Volt/ Holden Volt/ Opel Ampera when it appears late in 2013 as a 2014 model. Continue reading
Saab owner NEVS Opens Battery Plant in China
National Electric Vehicle Sweden is now making batteries in China for electric buses and cars through its wholly owned subsidiary State Power Group. The owner of the rights to the currently inactive Saab brand name says State Power Group (75%) owns the new entity, dubbed National Battery Technology, together with unnamed company management (25%). Continue reading
A123 Files Bankruptcy. Johnson Controls to Purchase its Auto Assets
A123 Systems (Nasdaq: AONE), a developer and manufacturer of nanophosphate lithium iron batteries and systems, today filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. A123 ran out cash as demand for EVs and its batteries remains weak to almost non-existent. As part of a proposed reorganization Johnson Controls (NYSE: JCI) will supply $72.5 million in “debtor in possession” financing to support A123’s continued operations as JCI purchases parts of A123. Continue reading
Posted in auto news, electric vehicles, financial results, news analysis, results
Tagged a123, auto informed, autoinformed.com, automotive news, doe loans, EVs, fisker, Ken Zino, taxpayer subsidies
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Ford Recalls All of the New Fiesta Models for Bad Airbags
Ford is recalling all of its new subcompact Fiesta models built since 2011 because the passenger side-curtain airbag won’t blow up in some cases, and the owner’s manual incorrectly describes the logic of the airbag control module. More than 150,000 Fiesta models are affected and dealers have been instructed to stop the sale of cars in inventory. Continue reading
Posted in auto news, recalls, safety
Tagged auto informed, autoinformed.com, automotive news, fiesta airbag recall, fiesta recall, Ken Zino, nhtsa, transport canada
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September EU Vehicle Sales Drop 11%. Eurozone Crisis Unabated
EU new vehicle registrations continued their downward slump in September declining 11% from September 2011. It was the twelfth straight month of sales declines across the economically embattled Eurozone as the trade bloc comprised of 27 bickering nations or tribes heads for its fifth straight year of declining sales. Continue reading
Posted in auto news, economy, marketing, news analysis, results, sales
Tagged auto informed, autoinformed.com, automotive news, eu, eu sales, Ken Zino, september eu sales
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Gibbs High Speed Amphibian Unveiled – Quadski, a $200 Million Bet on an Unknown Market. Faster Horse or an Incipient Model T?
“Most people wouldn’t be doing what we are doing,” says Alan Gibbs, “because you can’t research the market.” The entrepreneur and multi-multi millionaire Gibbs along with his engineering partner Neil Jenkins are placing a $200 million bet against unknown odds that their jointly-held private company can become a force in what they call the high speed amphibian market. It’s a new form of transportation according to proponents, but a trifle according to critics. Continue reading
Posted in auto news, marketing, new vehicle, news, news analysis, transportation
Tagged alan gibbs, auto informed, autoinformed.com, automotive news, gibbs Quadski, Ken Zino
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Water Absorbing Porous Asphalt Pavement Use Increases in 2012
Porous asphalt pavement has been around for years, but its strength and durability have been improved by the use of high-performance materials and better road engineering practices. As a result, more high profile projects are underway, including one planned in New York’s Adirondack Mountains. Continue reading
Ford and GM Set China Vehicle Sales Records in September
General Motors Company and Ford Motor Company have set September sales records in China, the world’s largest automarket. The results were in keeping with the disparate positions of the Number One and Number Two U.S. automakers in the communist country. Continue reading
Posted in auto news, marketing, news analysis, results, sales
Tagged auto informed, autoinformed.com, automotive news, china auto sales, communist capitalism, ford china, gm china, Ken Zino
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NHTSA Prompts Toyota Power Window Switch Recall for Fires
Toyota Motor Sales, U.S.A. will recall 2.5 million vehicles – 7.5 million units worldwide – because a defective power window switch can cause fires. The latest Toyota safety problem was discovered by NHTSA earlier this year after it opened an investigation about an unusual number of consumer complaints – 32 – alleging a burning electric window switch on the driver’s side door. Toyota and NHTSA have known of the problem for years. Continue reading
Los Angeles Most Congested of any City in the U.S. and Canada
Los Angeles traffic remains the most congested of any city in the U.S. and Canada, according to a survey just released. Trip times in Los Angeles are 33% longer on average than when traffic in the city is flowing freely, and a whopping 74% longer during evening rush hour. Other congested cities include Vancouver 33%, San Francisco 29%, Montreal 28%, Toronto 27%, Washington 26%, Seattle 26%, New York 25%, Chicago 23% and Miami 22%. Continue reading
Fiscal Cliff Applies to U.S. Auto Sales Post Election. Yes or No?
Nevertheless, in keeping with Harry Truman’s failed search for a one-handed economist, the rating agency hedged its prediction. “Regarding the fiscal cliff, in our opinion, it is likely that all or some of the tax increases and spending cuts will be resolved or at least temporarily deferred,” Fitch backpedaled, in the same report.
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Posted in auto news, economy, news, sales
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Ally Financial Declares Dividends on Preferred Stock
The Ally Financial board of directors has declared a quarterly dividend on outstanding preferred stock effective 15 November 2012. A payment of approximately $134 million, or $1.125 per share, will go to the U.S. Treasury, which has invested $17.2 billion in keeping Ally, formerly GMAC, in business as a bank holding company. Continue reading
Posted in auto news, economy, financial results, news analysis, results
Tagged ally, auto bailout, auto informed, autoinformed.com, automotive news, gmac, Ken Zino
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Ford Motor and General Motors Declare Stock Dividends
The Boards of Directors of Ford Motor (NYSE: F) and General Motors Company (NYSE: GM) have declared quarterly stock dividends, as the U.S. auto industry continues its slow financial recovery because of increasing auto sales. Continue reading
NHTSA Says Chinese Counterfeit Air Bags are a Safety Problem
The U.S. Department of Transportation’s National Highway Traffic Safety Administration – NHTSA – has published a consumer safety advisory to warn vehicle owners and repair shops about the dangers of counterfeit Chinese air bags. NHTSA said it has become “aware” of a problem involving the sale of counterfeit air bags for use as replacement parts in vehicles that have been involved in a crash. Continue reading
