- GM, U.S. Settle Ignition Switch Probe – WSJ: The U.S. Transportation Department is expected to announce a settlement in its investigation of General Motors’ delays in recalling vehicles equipped with faulty ignition switches.
- Nissan teases San Francisco with mystery giveaways – Automotive News: Nissan, without telling passers-by what they might win, is using an oversized Amazon locker and social media to give away a Rogue today as part of a promotion in downtown San Francisco.
- U.S. to make ‘major announcement’ on GM’s handling of recalls – Reuters: U.S. officials will make a major announcement on Friday as part of their investigation into General Motors’ handling of recalled vehicles because of defective ignition switches, the Department of Transportation said in a statement.
- Sources: GM agrees to fine, consent decree over recall – DetN: The National Highway Traffic Safety Administration is expected to announce today it is fining General Motors Co. for delaying a recall of 2.6 million older cars for ignition switch defects linked to 13 deaths and 32 crashes, two people briefed on the matter said.
- UK: Russia’s car market to slump this year and next – LMC – Just-auto: Russia’s car market faces a slump that will last into 2015 according to the forecast analysts at LMC Automotive.
- JPMorgan: GM stock ‘very inexpensive’ – DetN:JPMorgan said it was cutting its forecast for General Motors Co.’ second-quarter earnings by $200 million after the Detroit automaker announced five new recall campaigns on Thursday totaling almost 3 million vehicles.
- European auto sales expand at slowest pace in 5 months – Automotive News: European car sales rose at the slowest pace in five months in April as doubts about economic growth in the region contributed to a drop in deliveries in Germany, Europe’s biggest market.
- GERMANY: Volkswagen Commercial Vehicles sales up 7.2% in January-April 2014 – Just-auto: Volkswagen Commercial Vehicles in Europe boosted its deliveries to customers to 104,900 lightweight commercial vehicles from January to April 2014 (2013: 97,800; up 7.2%).
- Ferrari LaFerrari – Autocar: The Enzo’s successor is finally here. The LaFerrari costs over £1 million and has a 950bhp hybrid V12, but just how good is it?
- SOUTH AFRICA: Mercedes C-class 4G goes into production – Just-auto:About three months after the start of production of the fourth generation Mercedes-Benz C-Class at the Bremen plant in Germany, the East London plant in South Africa has commenced output.
- Nissan revives Pulsar model name to fight Focus and Golf – Autocar: Japanese manufacturer returns to the C-segment with new five-door hatchback due to go on sale in Autumn 2014Nissan is to reintroduce the Pulsar model name on a new five-door hatchback that will go on sale in the Autumn as a rival for the Volkswagen Golf and Ford Focus.
- Li Shufu said: “Geely and Volvo are like brothers, not father and son.” – CarNewsChina.com: Li Shufu, Chairman of Volvo Cars and of its owner Zhejiang Geely talked to Chinese media about the future of Volvo, and more specifically about the future of Volvo in China. Li Shufu said: “We will make Volvo cars more luxurious and high-end. Volvo will strive to become one of the dominant players in the […]
- Buffett, hedge funds trim GM holdings amid record recalls – Automotive News: Warren Buffett’s Berkshire Hathaway cut its stake in General Motors in the first quarter and some hedge funds including Greenlight Capital exited completely as the company recalled a record number of vehicles.
- Pause expected in auto output – DetN: Automakers likely won’t curb summer shutdowns like they have in recent years, the result of the frigid weather that swept across the U.S. in the first quarter and boosted vehicle inventory levels.
- GM recalls 2.99 million vehicles in five new campaigns – DetN: General Motors said today it is issuing five new separate recall campaigns, calling back more than 2.99 million vehicles worldwide as the fallout from its growing auto safety crisis continues.
- Buffett company, Soros sell GM shares – DetN: Billionaire Warren Buffett’s investment arm Berkshire Hathaway Inc. sold a quarter of its stake in General Motors Co., cutting its stake to 30 million shares, the company said in a filing Thursday.
- GM Recalls Another 2.7 Million Vehicles – WSJ: General Motors issued a new batch of recalls involving its Malibu cars and other models, and said it will take a charge of up to $200 million to cover the repair costs.
- General Motors recalls another 2.7 million vehicles – Washington Post: General Motors recalled another 2.7 million vehicles Thursday, adding to the flood of safety repairs it is making in the wake of its slow action to address an ignition switch flaw that has been linked to 13 deaths. Read full article >>
- GM recalls almost 3 million vehicles, to take charge of up to $200 million – Reuters: General Motors Co said on Thursday it has issued five more recalls, covering almost 3 million vehicles globally, and is expected to take a charge of up to $200 million.
- G.M. Recalls 2.7 Million Vehicles, Bringing Its Total for Year to 11.2 Million – NY Times: The five new recalls are for a variety of problems, including one for brake lights that might not illuminate in its Chevrolet Malibu midsize cars.
- New Suzuki compact SUV spotted testing ahead of year-end debut – Autocar: Suzuki’s iV-4 concept-inspired compact SUV will go on sale in the UK in spring next year following its debut at the Paris motor show in October.
- Tesla catches break as Missouri puts direct-sale ban on hold – Automotive News: The fate of Tesla Motors’ retail strategy in Missouri is on hold after state legislators scrapped a vote on a bill that would have prevented the company from selling directly to consumers.
- Cadillac prices ATS coupe from $38,990 – Automotive News: The 2015 Cadillac ATS coupe, which goes on sale by the end of the summer, will start at $38,990, including the $995 destination fee, General Motors said today.
- Regulator request delays Outlander plug-in launch – Automotive News: Mitsubishi says a new kink is delaying the launch of its Outlander plug-in hybrid in the United States until late 2015 or early 2016, even as it aims to more than double sales elsewhere this year.
- Rolls-Royce Aims ‘Into the Blue’ with Waterspeed Collection – NY Times: Rolls-Royce says it will create 35 hand-built cars that draw their inspiration from a record-setting ’30s-vintage speedboat.
- Musk sees need for many ‘gigafactories’ for battery demand – Automotive News: Tesla Motors CEO Elon Musk said the need for lower-cost batteries for autos and power storage means there will need to be hundreds of ‘gigafactories’ like the one the carmaker is planning to build.
- GM recalls another 2.7m vehicles in US – FT: Bulk of the recall involves 2.44m Chevrolet Malibus and some other sedans built between 2003 and 2012 for potentially faulty brake light wiring
- US: Musk sees hundreds of gigafactories to meet demand – Just-auto: Tesla Motors’ Elon Musk has said the need for lower-cost batteries for vehicles and power storage means there will need to be hundreds of ‘gigafactories’ like the one the carmaker is planning to build.
- US: Toyota move could bring Plano $7.2bn in a decade – Just-auto: The planned relocation of Toyota’s US headquarters to Plano, Texas, may bring US$7.2bn of economic activity to the area over 10 years, according to an analysis for the city, a media report said.
- US: GM to take $200m hit for Q2 recalls – Just-auto: General Motors said on Thursday it expects to take a charge of up to approximately $200m in the second quarter, primarily for the cost of recall-related repairs announced in the quarter.
- GM Announces 5 More Recalls Covering 2.7 Mil Vehicles – thedetroitbureau.com: GM has announced five more recalls covering 2.7 million vehicles — that on top of the 7 million it recalled during the first quarter of the year. What vehicles are covered and what’s behind the maker’s ongoing safety issues?
- GM sets price for 2015 Cadillac ATS Coupe – DetN: General Motors Co. said Thursday that its new 2015 Cadillac ATS Coupe will start at $38,990 when it goes on sale at the end of summer.
- Rolls-Royce Considering Plans for a “Proper SUV” – thedetroitbureau.com: Confirming widespread rumors a senior Rolls-Royce executive says the British maker is giving serious thought to the prospect of adding an SUV to its line-up. It would become the latest in a growing list of high-line manufacturers to add a utility vehicle: a “proper SUV,” the company said.
- China Pushing for More Alternative Fuel Vehicle Sales – thedetroitbureau.com: The rapid growth of new vehicle sales in China has led to significant increases in oil demand and oil imports, raised the price of petroleum around the world and prompted the Chinese government to offer big subsidies to motorists using electric vehicles.