Business News - part 5
BUSINESS September 28, 2015 | 11:40 AM
- 470,000 Sonatas recalled for engine debris
- 100,000 Accents recalled for faulty brake lights
- Former Volkswagen CEO under investigation
Hyundai Motor Corp. has issued two recalls of 570,000 cars in the U.S. because mechanical issues could led to an accident.
The first recall affects 470,000 model years 2011 and 2012 Sonata sedans with 2 and 2.4 liter engines. Metal debris may not have been removed from the crankshaft during the manufacturing process. The debris prevents oil from moving freely and cooling the connecting rod bearing. When this happens, the bearings can overheat, causing the engine to stall which could cause a crash.Read more »
BUSINESS September 24, 2015 | 11:15 AM
- Conclusion based on tests from same lab that uncovered Volkswagen scandal
- Other BMWs tested in normal range
- BMW denies any wrongdoing
Luxury automaker BMW AG’s crossover, the X3 xDrive 20d, emits nitrogen oxide emissions 11 times higher than those allowed by European emission standards, according to German magazine Auto Bild.
The magazine used information from a road test conducted by the International Council on Clean Transportation (ICCT).Read more »
BUSINESS September 23, 2015 | 11:46 AM
- Service launching in the city of Chengdu
- China seen as a large growth market
- Uber expanding into larger headquarters
Ride-hailing company Uber has launched a new carpool service in Chengdu, China, called UberCommute.
The service differs from the company’s existing carpool service UberPool in that it allows drivers to carpool with others going in the same direction for long distances. Driver and riders share the cost of the trip.Read more »
BUSINESS September 22, 2015 | 1:18 PM
- 11 Million Vehicles Affected Worldwide
- VW under investigation from several agencies
- German auto industry’s reputation threatened
Volkswagen’s fuel emissions-cheating scandal is much worse than initially thought as the German automaker admits 11 million diesel vehicles are affected.
The scandal began last week when the U.S. Environmental Protection Agency confronted Volkswagen about discrepancies between emission tests and lab results on model year 2009-2015 Beetles, Golfs, Passats and Audi A3s with Type EA 189 engines. VW admitted it used software to cheat EPA tests and meet emission standards.Read more »
BUSINESS September 21, 2015 | 12:04 PM
- Software installed in vehicles fooled pollution tests
- 2015-2016 diesels pulled from U.S. market
- CEO issues apology
Volkswagen of America officials have admitted to using software to cheat Environmental Protection Agency tests in its TDI diesel cars. The automaker had told the EPA discrepancies were caused by technical glitches, according to the California Air Resource Board and the EPA.
The admission came only after the EPA threatened not to approve the automaker’s 2016 models.Read more »
BUSINESS September 17, 2015 | 11:53 AM
- GM also agrees to monitoring
- Settlement smaller than Toyota’s over-acceleration issue
- Ignition issue goes back a decade
General Motors Co., the largest automaker in the U.S., has settled criminal charges with the U.S. Justice Department and will be required to pay $900 million and be monitored for four years on its safety practices.
The charges alleged GM failed to correctly handle an ignition-switch issue that is blamed for more than 300 deaths and injuries. The automaker allegedly knew of the issues for a decade and hid evidence of the problem.Read more »
BUSINESS September 16, 2015 | 10:59 AM
- New process makes production faster
- Terms of deal not released
- Partnership will be mutually beneficial
Ford Motor Co., the number two U.S. automaker, has partnered with Alcoa Inc., the largest U.S. aluminum producer by volume, to produce parts for the F-150 pickup.
Alcoa has developed the micromill, which allows a coil of aluminum alloy to be produced in 20 minutes instead of the traditional 20 days.Read more »
BUSINESS September 15, 2015 | 11:25 AM
- Porsche says its car will be better than Tesla’s
- Vehicles will be available for sale in 2018
- BMW CEO collapses at auto show
German luxury nameplates Audi and Porsche are prepared to compete with Tesla Motor Co. in the electric-car market. The Volkswagen flagship brands are showcasing electric vehicles at the Frankfurt International Motor Show.
Customers have largely stayed away from electric vehicles because of their limited range, the lack of recharging stations and high prices. Analysts, however, say that is about to change.Read more »
BUSINESS September 14, 2015 | 1:36 PM
- John Krafcik is former Ford, Hyundai executive
- Believes autonomous cars will save millions of lives
- TrueCar has been facing many obstacles recently
Technology giant Google Inc. has hired John Krafcik as CEO of its self-driving car division. He will oversee all aspects of the project, Google said.
Krafcik is president of the online car-shopping company TrueCar, a position he has held for 18 months. A mechanical engineer by trade, he previously worked for Ford for 14 years as a product developer and CEO of Hyundai Motor America for five years.Read more »
BUSINESS September 10, 2015 | 11:48 AM
- Fiat issues three separate recalls
- Recalls may hamper FCA’s attempts to improve image
- Takata airbags still largest recall
FCA USA LLC, a unit of Fiat Chrysler Automobiles NV, has recalled 1.7 million Ram pickups throughout North America in three separate recalls.
Ram was FCA’s best-selling vehicle in 2014.Read more »