Business News - part 7
BUSINESS May 14, 2015 | 1:13 PM
- 59-year-old facility will be repaired
- 2,600 new jobs will be added
- Honda expands Takata airbag recall
General Motors Co. plans to invest $1 billion to update its aging technology center in Warren, Michigan, outside Detroit, as part of the company’s plan to invest in product programs and facility upgrades.
The 59-year-old center, called the GM Tech Center, is the location of many GM design and engineering jobs. It is located on 710 acres and includes 38 buildings.Read more »
BUSINESS May 13, 2015 | 12:50 PM
- Toyota and Nissan recall dozens of models
- Honda likely to also issue a recall
- Test being conducted on Takata airbags
Japanese automakers Toyota Motor Corp. and Nissan Motor Co. are recalling 6.5 million more vehicles, manufactured between March 2003 and November 2007, equipped with airbags manufactured by Japan’s Takata Corp.
The airbags have inflators that might not work in a crash. The inflators are affected by moisture because they were not properly sealed. There have been no injuries and the recall is a precaution.Read more »
BUSINESS May 12, 2015 | 12:44 PM
- Test simulates collision with object
- Dodge Journey had worst rating
- Automakers use crash tests to improve safety features
Many drivers have the perception that SUVs are safer than passenger cars. However, a test of seven crossovers by the Insurance Institute for Highway Safety, a nonprofit funded by the auto insurance industry, proves that larger may not be better.
The test simulates what happens when more than a quarter of a vehicle’s front corner hits a 5- foot-tall object at 40 miles per hour. This type of crash has the highest rate of fatalities or serious injury at 25%.Read more »
BUSINESS May 11, 2015 | 12:16 PM
- Plant to help Volvo reach production goals
- Company must restore wetlands
- South Caroline incentives helped Volvo make a decision
Swedish automaker Volvo is investing $500 million to build a plant in South Carolina, its first U.S. factory.
The plant will be built this fall and will eventually reach a 100,000-vehicle capacity. Vehicles will be produced for export and U.S. sales. The first vehicles to roll off the line are expected in 2018.Read more »
BUSINESS May 7, 2015 | 2:39 PM
- Truck granted Nevada license plate
- Autonomous systems would cut down on common driver issues
- Public, industry have concerns over autonomous vehicles
Daimler Trucks North America is testing an autonomous big rig truck in Los Vegas called the Freight-liner Inspiration.
Nevada issued the truck a license plate, and it was debuted at a Las Vegas Motor Speedway event.Read more »
BUSINESS May 6, 2015 | 1:27 PM
- Companies produce tie rods for six-ton vehicles
- Approval means only two companies will compete in tie-rod market
- Companies must agree to certain terms
The U.S. Federal Trade Commission has approved the $12.4 billion merger between auto-parts companies, ZF Friedrichshafen AG and TRW Automotive Holdings Corp.
Once the merger is complete, the combined company will become the world's second-largest auto-parts manufacturer behind Robert Bosch GmbH. It also will be one of two remaining companies in North America that manufacture tie rods for vehicles weighing more than six tons.Read more »
BUSINESS May 5, 2015 | 1:08 PM
- Goal of program is employee retention
- Automaker partners with Strayer University
- FCA CEO says auto industry is unsustainable
Fiat Chrysler Automotive USA is offering a free college education to dealership employees in an effort for employee retention, with a program called Degrees@Work.
John Fox, FCA’s director of dealer training, told reporters, “The turnover rate is just dramatic in this industry, and it impacts a dealer’s bottom line. We think this will attract the best talent in the marketplace.”Read more »
BUSINESS May 4, 2015 | 2:39 PM
- Automaker accused of price fixing
- Other foreign companies being fined
- Company expects sale growth to slow
Chinese antitrust regulator, the National Development and Reform Commission, have fined German luxury automaker Mercedes-Benz $57 million for violation of antitrust laws.
The automaker is accused of price fixing between January 2013 to July 2014. The company allegedly issued instructions to dealerships in Jiangsu Province to cap the minimum prices for its E- and S-Class sedans as well as some auto parts. Dealerships were told if they didn’t comply they would risk reduced-policy support.Read more »
BUSINESS April 30, 2015 | 1:18 PM
- Honda debuting HR-V, a subcompact SUV
- Cadillac sets CTS-V at $84,990
- Ford has yet to determine number of limited run GT350
Honda Motor Corp. will debut its smallest SUV, the subcompact HR-V in May.Read more »
BUSINESS April 29, 2015 | 12:11 PM
- Profit comes after years of losses
- North America also see sales increases
- Increases help offset losses in South America
Fiat Chrysler Automobiles NV, the world's seventh-largest automaker, saw a rise in profits during the first quarter, aided by sales in Europe and North America.
Adjusted earnings before interest and tax were $879 million, a 22% increase from 2014. A year ago, the company suffered a $190 million loss, mostly due to buying Chrysler shares from the UAW Retiree Medical Benefits Trust.Read more »