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Tag Archives: autoinformed
GM Recalls another 2.4 Million Vehicles for Safety Defects
The beleaguered General Motors Company announced four new recalls of 2.4 million cars, trucks and sport utility vehicles, for a staggering year-to-date total 13.5 million recalled vehicles, clearly the largest in the company’s history. Continue reading
Oops! Chrysler Group Posts Q1 Loss of $690 Million Because of UAW Buyout. Income, Revenue, Cash Flow Increase
Chrysler Group reported net loss of $690 million for Q1 because of $1.2 billion in charges for the UAW buyout, which allowed Fiat to takeover complete control of Chrysler. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, chrysler group, fiat Chrysler, Ken Zino
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NHTSA Fines GM a Paltry $35 Million for Ignition Switch Fiasco
GM also faces billions in criminal penalties. Recently Toyota Motor agreed to pay a $1.2 billion fine in a controversial plea agreement with the U.S. Department of Justice whereby Toyota Motor Corporation admits to lying to consumers and U.S. safety regulators about unintended acceleration in its cars during the fall of 2009 and early 2010. Continue reading
Posted in litigation, safety
Tagged autoinformed, autoinformed.com, delphi, gm ignition switches, Ken Zino, nhtsa
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Arena Football Players Join AFL-CIO
The Arena Football League Players Union, AFLPU, has joined the AFL-CIO following a unanimous vote by its Board of Player Representatives. The move comes as the league is about to add six teams in China to the fourteen teams that play indoors in the U.S. Continue reading
Global Light Vehicle Sales at 86.6 Million Annual Rate
Sales of light vehicles remained robust in April with a seasonally adjusted annualized rate of 86.6 million, up slightly from March. U.S. sales strengthened a t 16.4 million annualized, while the largest vehicle market, China, is now running at more than 23 million vehicles annually. Continue reading
Pagenaud in a Honda Wins Inaugural Grand Prix of Indianapolis
Starting fourth, Pagenaud avoided a multi-car crash at the standing start that eliminated his Schmidt Peterson Motorsports teammate, Mikail Aleshin, and fellow Honda driver Carlos Munoz, when pole-qualifier Sebastian Saavedra stalled at the line, resulting in an eight-lap caution period to begin the race. If anyone was watching, the prolonged yellow no doubt sent viewers to the real action of Major League Baseball or the Stanley Cup playoffs. Continue reading
Posted in racing
Tagged autoinformed, autoinformed.com, cart, irl, Ken Zino, tony george
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Ex PetroTiger CEO Indicted for Bribery and Kickbacks
Joseph Sigelman, 43, of Miami and the Philippines, was indicted by a federal grand jury in the District of New Jersey and charged with conspiracy to violate the FCPA and to commit wire fraud, conspiracy to launder money, and substantive FCPA and money laundering violations while working for PetroTiger. Continue reading
Posted in fools 'n frauds, litigation
Tagged autoinformed, autoinformed.com, doj, Ken Zino
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Grand Marshal Don Garlits at Detroit Dragway Reunion in Milan, Michigan Saturday. Be There or Be Square
This weekend in Milan, Michigan, “Big Daddy” Don Garlits will be the Grand Marshal at a tribute to the long defunct Detroit Dragway, a once famous – or infamous – shrine dedicated to a uniquely American passion. Sunday, Sunday, Sunday – be there or be square… Continue reading
Subaru to Stop Building Camry in U.S. as it sets Record Sales
The Japanese company, which made the Zero fighter during WW2, has now posted 29 consecutive months of year-over-year growth and is already on its way to its sixth successive annual sales record. Subaru is also planning on selling its first hybrid and adding a full-size minivan to its U.S. production. Continue reading
Posted in manufacturing, news analysis
Tagged autoinformed, autoinformed.com, fuji heavy industries, Ken Zino
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Department of Transportation Kisses Big Oil and Railroad Butts
The problem, the deadly problem, is that many of the tank cars in use by Big Oil and the railroads to move crude oil are not safe – as the Lac-Mégantic derailment that killed 42 civilians and wiped half of a southern Quebec town proved. Continue reading
Safety Recalls Galore! The Toyota and GM Effect Has Industry Scrambling as BMW, Honda, Mazda, Mercedes and Saturn Join the Defect Parade
A reinvigorated NHTSA – called the lapdog of the auto industry during the Toyota hearings – along with automakers who are now all too well aware of the large fines – civil and criminal – and lawsuits that derive from stonewalling safety defects has resulted in a seemingly unending list of recalls that occur almost daily. Continue reading
While Under NHTSA Investigation, Three New GM Recalls
Already enmeshed in safety investigations and employee resignations over failing to recall defective ignition switches, there are now three new GM recalls. Continue reading
Posted in litigation, recalls
Tagged autoinformed, autoinformed.com, Ken Zino, nhtsa
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U.S. Auto Sales Thaw in April
U.S. auto sales increased in April with the overall market up 8.1% for all brands to 1.391 million vehicles. AutoData said the seasonally adjusted annual rate, or SAAR, for April at 16.04 million, showed an improvement from 15.9 million units in April 2013. Offshore brands held a 53.9% market share, selling 750,328 vehicles, down from a market share of 55.1 percent and sales of 847,047 units last month. Continue reading
Ford Motor Finally Makes it Official. Alan Mulally Retiring. Mark Fields new President and CEO
Fields is a controversial figure who some senior executives at Ford referred to as a show horse as opposed to a work horse. Given the always-messy succession issues at Ford – with the family vying for top leadership positions against outside professional managers who have a demonstrably better record since the Deuce, the only fair thing AutoInformed can say is that we will look at the record going forward, and not the back biting of the past surrounding Fields. He inherits an under performing company with large quality challenges. Continue reading
Posted in people
Tagged autoinformed, autoinformed.com, Ken Zino, mark fields, Mulally
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Toyota Abandoning California for Texas
With an 8.84% corporate tax rate in California, in addition to the highest income tax rates in the U.S. on personal income, there is an economic rationale behind the move. Continue reading
Posted in economy, news analysis
Tagged autoinformed, autoinformed.com, California tax rates, Ken Zino
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