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Tag Archives: autoinformed
GM Files $750 Million Q1 Earnings Charge with SEC
The three-quarters of a billion dollar expense to stockholders includes yesterday’s safety recall of electric power steering assist affecting approximately 1.3 million vehicles and other safety recalls announced in the three months ending 31 March 2014. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, Ken Zino, nhtsa, sec
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GM Recalls 1.3 Million Cars for Bad Electric Power Steering
The list of the vehicles involved is daunting, and some were recalled. previously. The largest U.S. automaker said in a statement that it would take a $750 million charge in Q1 to cover the cost of GM recalls so far this year. Given the growing number of lawsuits lawsuits and a new scrutiny of safety issues at GM, both inside and out, more charges are likely. Continue reading
GM Expands Ignition Switch Recall Yet Again
This is the third expansion of a safety recall the GM initially denied a problem existed, then recalled some cars, then recalled more cars, and now recalls even more. In baseball, three strikes means you’re out. Whether GM is out remains to be seen. Continue reading
Bankrupt Nürburgring Track sold to Capricorn
As these things go, it appears a sound resolution by German bankruptcy officials who put forth a bidding process and ultimately approved the deal. Continue reading
Bad Software Causes Million-Vehicle Nissan Airbag Recall
The safety defect is caused by software that thinks the passenger seat is empty when it is occupied. Failure of the airbag to deploy during a crash of sufficient intensity could increase the risk of injury to the passenger. It is the latest example of how computer programming of electronics is a growing problem in not only safety matters but also hurting customer satisfaction ratings. Continue reading
Milestones – 100 Million Bosch Stability Control Systems
Technically, ESC intervenes to keep vehicles on course and prevent skidding accidents by using differential braking to adjust the yaw axis of a vehicle helping to prevent oversteer and understeer. Continue reading
Franchitti to Drive Camaro Z/28 Pace Car at Indy 500
Three-time Indianapolis 500 winner Dario Franchitti will drive a 2014 Chevrolet Camaro Z/28 to pace the 98th running of the Indianapolis 500 on May 25. Continue reading
Posted in auto news
Tagged autoinformed, autoinformed.com, indianapolis 500, Ken Zino
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Audi and AT&T Price 4G LTE Connectivity at $499
What this does for the deadly distracted driving problem remains to be seen and depends whether the driver or passengers are surfing the web. There is also risk involved; electronics in automobiles are now the largest single source of customer dissatisfaction if there are glitches, dropped voice commands, screen crashes or problems connecting portable devices. Continue reading
Posted in distracted driving, marketing
Tagged 4g lte, autoinformed, autoinformed.com, Ken Zino
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Odometer Fraud and Carfax Scam in New York Uncovered
Capicchioni also took steps to hide his odometer fraud scheme. He checked the Carfax public database to see if it included a mileage entry that was higher than the false, lower mileage to which he reset the odometer. When Carfax included a higher mileage, Capicchioni submitted to Carfax fraudulent documentation in the name of the vehicle’s prior owner, in order to have the higher mileage reading removed. Continue reading
Posted in fools 'n frauds, litigation
Tagged autoinformed, autoinformed.com, carfax, doj, Ken Zino, odometer fraud
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2014 U.S. March Auto Sales Forecast Up
New-vehicle retail sales in March are showing signs of improvement – projected at 1.19 million or +7% year-over-year – following slower-than-expected sales in the first two months of 2014. Continue reading
EU February Car Sales Increase. Signs of Life?
EU February car sales increased for the sixth consecutive month, with a rise of 8% in registrations. However, in absolute figures, the 861,058 units registered marked the second lowest result to date for a month of February since ACEA, the automakers trade group, began keeping track in 2003 with the commencement of an enlarged EU. Continue reading
Detroit Lobbyist John Bozzella Joins Offshore Auto Trade Group
Private equity firm Cerberus placed a large bet during Bozella’s Chrysler tenure by buying controlling interest in Chrysler from Daimler. Prior to that, it bought 51% ownership of GMAC, the financing arm of General Motors. These bets ultimately failed when Chrysler entered bankruptcy in 2009. Both GMAC and GM went into bankruptcy as well. Continue reading
Posted in people
Tagged autoinformed, autoinformed.com, bailouts, cerberus, chrysler fiat, Ken Zino, nardelli
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Snow Melts – Revealing Huge Roadway Potholes
As winter slowly fades, drivers are now confronted with huge potholes that are causing untold tire, wheel and suspension damage. Due to the severe winter, the bankrupt highway trust fund and states refusal to repair roads during the Great Recession, the potholes are a nationwide plague. Continue reading
Posted in safety
Tagged autoinformed, autoinformed.com, highway trust fund, Ken Zino, potholes
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Milestones – Honda Builds 20 Millionth Vehicle in the U.S.
The Marysville Auto Plant, of course, is the site where the first Honda Accord was produced in America on 1 November 1982. This made Honda the first Japanese automaker to begin production of automobiles in the United States, a move that caught Toyota and Nissan the two reigning Japanese sales giants by surprise. Continue reading
Toyota Motor Guilty of Criminal Fraud. Cops $1.2 Billion Plea
This appears to be ‘cash register justice’ at its worst. Toyota is buying its way out of its blatantly illegal behavior where people died, and former Toyota employees working at NHTSA, the U.S. safety regulator, stalled an investigation and needed recalls for years. Continue reading
Posted in fools 'n frauds, litigation, safety
Tagged autoinformed, autoinformed.com, doj, eric holder, fraud, Ken Zino
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