Tag Archives: auto informed

Toyota Recalls 780,000 RAV4 and Lexus HS 250h Models

Posted on 2 August 2012 by Ken Zino

Toyota Motor Sales is recalling 2006 to early 2011 model year RAV4 and 2010 model year Lexus HS 250h vehicles sold in the U.S. because the rear suspension can fail, leading to loss of control. In a statement notable for its lack of detail about accidents, injuries and fatalities, TMS said that about 760,000 Toyota RAV4 and 18,000 Lexus HS 250h models are involved in this latest quality problem Continue reading →

Posted in auto news, quality, recalls, safety | Tagged , , , , , , | Leave a comment

Ford Motor U.S. July Sales Decline 4% in a Market that Grew 9%

Posted on 1 August 2012 by Ken Zino

Ford Motor Company’s July sales in the U.S. declined 4% as the Number Two automaker failed to keep pace with a recovering U.S. auto market. Sales executives attributed the weak performance to lower fleet sales, which were off -16% but still made up 27% of Ford’s 173,482 vehicle sales for the month. This could be viewed as progress of sorts since the fleet share declined from 31% a year earlier. Continue reading →

Posted in auto news, results, sales | Tagged , , , , , | Leave a comment

GM July Sales in U.S. Down 6% as Market Grows 9%

Posted on 1 August 2012 by Ken Zino

General Motors Company (NYSE: GM) today reported July sales in the U.S. of 201,237 vehicles, down 6% compared with a year ago in what is a recovering U.S. automarket that grew by 9%. GM sales to retail customers declined 3%.

GM’s poor performance was attributable to a large drop in sales to daily rental fleet customers, which were off – 41%. GM previously stated that it needs to wean itself from these sales as it struggles to increase its margins. As a result, so-called average transaction price at GM increased $700 compared to June and $260 year-over-year. Continue reading →

Posted in auto news | Tagged , , , , , , | Leave a comment

Chrysler Group Sales Up 13% in July, Best in Five Years

Posted on 1 August 2012 by Ken Zino

Chrysler Group today reported U.S. sales of 126,089 units, a 13% increase compared with sales in July 2011 (112,026 units), and the group’s best July sales since 2007. All of the brands contributed to the positive results, the 28th-consecutive month of year-over-year sales gains in the slowly recovering U.S. auto business. Until final results from all makers are available late today, it is unclear whether Chrysler is still outperforming the market. Continue reading →

Posted in auto news, marketing, results, sales | Tagged , , , , , , | Leave a comment

Pilot School Owners Go to Prison Over Swiss Bank Accounts

Posted on 31 July 2012 by Ken Zino

The criminal actions by the Roberts were made possible by UBS, which in February 2009 entered into a so-called deferred prosecution agreement whereby the bank admitted to helping U.S. taxpayers hide accounts from the IRS. As part of the agreement, UBS provided the U.S. government with the identities of, and account information for, certain U.S. customers of UBS’s cross-border business, including the Roberts. Continue reading →

Posted in aviation, fools 'n frauds, litigation, news, people | Tagged , , , , , , , | Leave a comment

GM Restructures Global Product Development Again

Posted on 31 July 2012 by Ken Zino

In the seemingly endless series of corporate moves that are always claimed to improve competitiveness, General Motors is restructuring its vehicle line engineering groups to consolidate current development executive roles and reduce new product birthing times. It appears to be the first major action by Mary Barra, a human resources executive who took over product development in January 2011. Continue reading →

Posted in auto news, engineering, news analysis, people | Tagged , , , , , , , , , | Leave a comment

Honda Posts $1.7 Billion Profit in Japanese Fiscal Q1

Posted on 31 July 2012 by Ken Zino

Despite the strong recovery, the results did not meet analysts’ expectations because of rising marketing costs and the strong yen. Nevertheless, Honda is sticking to its global sales forecast of 4.3 million vehicles in the Japanese fiscal year to March 2013, an increase of 38.4% from FY 2012. North America is forecast to sell almost 40% of the total, which means a lot is riding on the success of the new Accord due this fall. Continue reading →

Posted in auto news, financial results, news analysis, results | Tagged , , , , , , | Leave a comment

TRW Guilty of Price Fixing Seatbelts, Airbags, Steering Wheels

Posted on 31 July 2012 by Ken Zino

TRW Deutschland pled guilty to price fixing seatbelts, airbags and steering wheels sold to two German automobile manufacturers, and installed in cars sold in the United States yesterday. This is the second case filed over occupant safety systems sold to auto manufacturers as part of the department’s ongoing antitrust auto parts investigation. Continue reading →

Posted in auto news, fools 'n frauds, litigation, news analysis, people | Tagged , , , , , , , | Leave a comment

More than 640,000 Ford Escape, Mazda Tribute SUVs Recalled for Unintended Acceleration after NHTSA Opens Defect Probe

Posted on 31 July 2012 by Ken Zino

Ford and Mazda are recalling Escape and Tribute SUVs from the 2001 up to the 2008 model year because a cruise control cable can stick and cause unintended acceleration. Since repair parts are not available, dealers will disconnect the cruise control as an interim measure for the safety defect.

The recall was forced when the National Highway Traffic Safety Administration two weeks ago opened an unintended acceleration investigation on 2001 through 2004 Ford Escape and Mazda Tribute SUVs after receiving 99 reports of unintended acceleration from owners. At least one fatality and nine injures are alleged in multiple accidents. Sixty-eight stuck throttle reports are from Ford Escape owners; thirty-one reports are from owners of Mazda Tributes. Continue reading →

Posted in auto news, engineering, quality, recalls, safety | Tagged , , , , , , , , | Leave a comment

Chrysler Group Posts Q2 2012 Net Profit of $436 million. Modifed Profit $755 million

Posted on 30 July 2012 by Ken Zino

Actual net income or profit was $436 million, an $806 million improvement from the $370 million net loss in the Q2 last year that included a $551 million charge for repayment of Chrysler’s Canadian and U.S. taxpayer subsidized loans. The loans allowed a bankruptcy restructuring in 2009 that ultimately saved thousands upon thousands of jobs at Chrysler and its suppliers. Combined with taxpayer money pumped into General Motors, Ford and Nissan, under various stimulus actions, the bailouts or subsidized loans saved the U.S. auto industry. Continue reading →

Posted in auto news, financial results, news analysis, results | Tagged , , , , , , | Leave a comment

Lexus Debuts New LS Flagship Sedan Tonight in San Francisco

Posted on 30 July 2012 by Ken Zino

The original Lexus full-size sedan – the 1990 model LS 400 – caught the Germans by surprise with its combination of high quality, silky smooth ride, and a price that undercut competing Mercedes-Benz and BMW sedans by $10,000 or more.

Initially dismissed by the Europeans, the success of Lexus ultimately forced improvements in quality and a lowering of prices by Audi, BMW, and Mercedes-Benz. The Japanese brand’s success has also prompted an expanding list of joint ventures with BMW. Continue reading →

Posted in auto news, customer satisfaction, electric vehicles, marketing, new vehicle, news analysis | Tagged , , , , , , , , | Leave a comment

GM Marketing Head Ewanick Resigns as GM Lags in Sales Growth

Posted on 30 July 2012 by Ken Zino

In an unusual Sunday statement, General Motors tersely said yesterday that Global Chief Marketing Officer Joel Ewanick resigned, effective immediately. The resignation comes just days before GM will release Q2 financial results, which will be negatively impacted by product launch and marketing costs, as well as the ongoing struggles of Opel, which is mired in the Eurozone crisis. Continue reading →

Posted in auto news, marketing, news analysis, people | Tagged , , , , , , , | Leave a comment

Ford Motor Q2 Profit Plummets $1.4 Billion as Europe, South American and Asia Continue to Hurt Earnings and Shareholders

Posted on 27 July 2012 by Ken Zino

Ford Motor Company [NYSE: F] posted its 12th consecutive quarterly pre-tax operating profit this week based almost entirely on North American results. Weak to frankly disastrous performances in Ford’s global operations saw Q2 income drop to $1 billion, or 26 cents per share, a decrease of $1.4 billion from Q2 2011. Continue reading →

Posted in auto news, economy, financial results, news analysis, results | Tagged , , , , , , , , , | Leave a comment

Red Tail Mustang to be Auctioned at EAA Oshkosh for Eagles

Posted on 23 July 2012 by Ken Zino

Ford Motor will auction a one of kind Red Tails Mustang at the Experimental Aircraft Association AirVenture convention in Oshkosh next Thursday. The single edition Mustang has VIN 00051 in honor of the red tail P-51 Mustang planes flown by the Tuskegee Airmen during more than 1,500 missions during WWII. Pervasive racism in the army kept the black unit segregated during the war. Continue reading →

Posted in auto news, aviation, concept, new vehicle, news, performance | Tagged , , , , , , , | Leave a comment

First 118 MPGe Honda Fit EV Delivered in California

Posted on 23 July 2012 by Ken Zino

American Honda initially will lease Fit in some California and Oregon markets. Some East Coast locations will be added next year. The EV is lease-only with a price of $389 per month for three-years, which computes to a Manufacturer’s Suggested Retail Price (MSRP) of $36,625. Collision coverage, maintenance costs and roadside assistance service included in lease. Gasoline versions of the Fit sell in the $16,200 to $21,000 range. Continue reading →

Posted in alternative fuels, auto news, electric vehicles, environment, fuel economy or emissions, marketing, people | Tagged , , , , , , , , | Leave a comment