Tag Archives: auto informed

OPEC to Keep Oil Production Even. Prices Likely to Stay High as U.S. Economic Recovery Stalls and Unemployment Grows

OPEC’s decision to keep oil production levels constant is the latest setback for the stumbling U.S. economy. Since there has been no change in the way oil is produced or traded – as a fungible commodity – there is no reason speculators cannot keep oil prices moving up toward the record $147 a barrel that it hit in July of 2008. In fact, some analysts warn oil prices won’t stop there this time. Continue reading

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Akerson Praises GM at Annual Meeting as Stock Languishes

The weaknesses at GM remain in its sales of traditional trucks, with a 110 days supply of full size pickups; it’s heavy use of incentives, which remain higher than the industry average, (but are lower than the levels that drove it into bankruptcy); and gaps in updating the product line because of delayed programs at the end of the last decade when cash was short. Continue reading

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Volkswagen Holds Base Price of New Beetle to $19,765

Transaction prices of the Beetle will be much higher of course than the $19,765 starting point. The sportiest model the 2.0L TSI will start at more than $24,000 with a 2-liter in-line four-cylinder turbocharged engine that produces 200 horsepower and 207 lb-ft of torque. Continue reading

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Volvo Recalls S60 for Defective Software and Engine Stalling

Volvo is recalling 2012 model year S60 passenger cars because they can stall without warning. All Volvo S60 models made from 18 November 2010 through 5 May 2011 will have the engine control software reprogrammed to eliminate this safety defect. Continue reading

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Chevrolet to Sponsor 2011 Woodward Dream Cruise

Chevrolet will be the “presenting sponsor” for the 2011 Woodward Dream Cruise this year on 20 August as part of its on going 100th anniversary promotional events. It is the first in a new three-year sponsorship agreement between Chevrolet and the organizers. Continue reading

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Washington Dithers as Unemployment Increases Again

There aren’t enough jobs to reemploy U.S. citizens who want to go back to work, let alone absorb new graduates as tax payers into the economy. The real rate of unemployment is much higher – some critics have at more than 18%. Continue reading

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DOT’s LaHood Praises BMW as it Enables Distracted Driving?

BMW, the luxury brand that is in the process of becoming the first automobile manufacturer in the world to have voice-read e-mail messages inside its vehicles, has been singled out for praise by the U.S. Secretary of Transportation for claiming it is against texting and driving? Continue reading

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Korean Automakers Post Huge U.S. Sales Gains as Disputed Free Trade Agreement Heads for Congressional Approval

Some of the biggest sales gains in May were posted by Korean automakers Hyundai (up 20.7% versus a year ago) and Kia (up 53.4%). Combined, the two Korean automakers sold more than 100,000 vehicles for the month. Korea is the fifth largest producer and fourth largest exporter of motor vehicles in the world.

However, Korea ranks at the very bottom — 30 out of 30 among the largest automotive markets — for auto market access. The average among major developed economies is 40% market penetration by imported automobiles, but in Korea, the total of import vehicles from all global manufacturers in all countries entering the Korean market is around 3.6%. This is about 40,000 vehicles in a market that buys roughly one million vehicles annually. Continue reading

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AutoNation May Sales Down 15% Due to Japanese Shortages

AutoNation, Inc. today announced that its retail new vehicle unit sales in May 2011 totaled 16,347, a decrease of 15% as compared to May 2010. Toward the end of May, AutoNation delivered its eight millionth vehicle, an automotive retail industry first, at the grand opening of Honda of Dulles. Continue reading

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Japanese U.S. May Sales Plunge as Inventories Evaporate. Toyota, Nissan and Honda Decline in Earthquake Aftershocks

Toyota, Nissan and Honda – the Japanese Big Three – all saw U.S. sales plummet in May as a combination of their limited inventories because of the production disruptions from the Japan earthquake and the decreased marketing activities that followed took a huge bite out of sales. Continue reading

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Chrysler May U.S. Sales Up 10% as Retail Sales Soar 27%

Chrysler Group, the weakest of the Detroit Three, today reported U.S. sales of 115,363, a 10% increase compared with sales in May 2010 and the best May sales since 2008. The strong results came as larger Ford and General Motors posted flat sales year-on-year. Continue reading

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Ford May Sales Flat in U.S. as Retail Sales Rise 5%

Ford Motor Company sales in May were 192,102, the same as one year ago as the economy stalled. Retail sales were up 5% and fleet sales were down 8%. Year-to-date, total Ford Motor sales were 878,600, up 12%. Continue reading

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General Motors May Sales Flat in U.S. as Retail Sales Rise 9%

General Motors dealers in the United States reported 221,192 total sales in May, including a 9% increase in retail sales compared to May 2010. A sharp -16% decline in fleet sales decreased results so that total sales declined 1% compared to last year. Continue reading

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Toyota Recalls Prius for Bad Electric Steering Again

Toyota Motor Sales today announced that it will conduct a voluntary safety recall involving approximately 52,000 2001 through 2003 Prius vehicles sold in the U.S. to replace the electric power steering pinion shaft attachment nuts. This announcement is for U.S. vehicles included in Toyota Motor Corporation’s global recall of 106,000 vehicles. Continue reading

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Automakers Cut Incentives on Small Cars as Fuel Prices Rise

U.S. consumers already embattled by a weak economy and record high fuel prices for the month of May can add another worry to the list – automakers have drastically cut incentives on small, fuel efficient cars. Continue reading

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