Top Headlines - part 3
BUSINESS July 23, 2015 | 2:29 PM
- Quarter the best since before recession
- Rivals showed mixed results
- Chinese market still crucial to GM’s growth
General Motors Co., the top American automaker, posted a strong second quarter thanks to the strength of the North American and Chinese markets.
Eliminating one time charges, GM earned $2.9 billion, $1.29 a share, compared to $1.4 billion a year ago. This was ahead of analysts’ forecast of $1.08 a share.Read more »
BUSINESS July 22, 2015 | 1:59 PM
- Increase lower than analysts’ expectations
- CEO believes 17 million vehicles will be sold in 2015
- Customers driven to larger vehicles
The United States’ largest auto retailer, AutoNation Inc., saw profit rise 15% compared to the second quarter of 2014, buoyed by lower gas prices and an improving economy.
Revenue reached $5.22 billion, a 9% increase and a company record, while stock prices were $1 a share.Read more »
BUSINESS July 21, 2015 | 2:32 PM
- Vehicles use Sprint cellular network
- Patch available which resolves vulnerability
- Researchers were able to disable key vehicle systems
Security experts have found a serious vulnerability in Fiat Chrysler’s connect car software and are telling customers they need to have their vehicle’s onboard software updated.
The software, called Uconnect, works using Sprint’s cellular network to connect to the Internet. It allows owners to use a smartphone app to activate anti-theft features, remote start the engine and find the vehicle on GPS. It has no firewall.Read more »
BUSINESS July 20, 2015 | 2:05 PM
- Sensors would be able to detect obstacles
- GPS reads layout of the road
- Air filtration system would improve cabin air quality
Ford Motor Co.’s European Research and Innovation Center has developed smart headlights able to detect road hazards and the contours of the road.
Cameras and GPS systems will illuminate the road based on curves, dips and bends. If GPS is not available, the system will store the road’s data for future use.Read more »
BUSINESS July 16, 2015 | 1:37 PM
- Transmissions have become a priority for Magna
- Getrag brand will continue
- The two companies had been in talks for years
Canadian automotive parts maker Magna International Inc., the world’s third largest auto part supplier, has agreed to purchase German automotive transmission systems Getrag for $1.9 billion in order to expand its business.
The deal includes debt and pension liabilities which brings its value to $2.67 billion.Read more »
BUSINESS July 15, 2015 | 2:26 PM
- Ford establishes customer-satisfaction program
- Drivers encouraged to take their cars to the dealership
- Subaru recalls 32,000 cars because of airbag issue
Ford Motor Co. has stopped the sale of the redesigned 2015 Edge crossovers after the company discovered a leak in the car’s body.
Water is able to drip into the passenger compartment under the dashboard through the hood hinges. The issue could lead to corrosion or mold.Read more »
BUSINESS July 14, 2015 | 2:06 PM
- Investigation affects Fiats and Kias
- One serious injury reported
- Investigation second largest in airbag market
The National Highway Traffic Safety Administration, U.S. safety regulators, are investigating potentially faulty airbag inflators manufactured by ARC Automotive.
ARC Automotive inflators are used by various airbag manufacturing companies.Read more »
BUSINESS July 13, 2015 | 1:42 PM
- Automotive manufacturers want to slowly adding technology
- Tech companies believe in making a great leap
- Autonomous vehicles pose several questions
Automotive manufacturers and technology companies have differing visions as to how quickly autonomous vehicles should arrive on the market.
Traditional automakers believe in a gradual approach, adding technology slowly over the next decade.Read more »
BUSINESS July 9, 2015 | 1:18 PM
- 1.6 million vehicles recalled in Japan
- Recalls in other Asian markets will follow
- Chinese sales have fallen within the past year
Honda Motor Co. has expanded its recall of vehicles with Takata Corp. air bags yet again, adding 1.63 million vehicles in Japan and bringing the total number of recalled vehicles to 24.5 million.
The recall is Honda’s third largest this year and an expansion of a May recall.Read more »
BUSINESS July 8, 2015 | 2:05 PM
- Car replaces front passenger seat with platform
- Company says it is committed to safety
- Volvo has decided not to participate in 2016 MATS
Swedish automaker Volvo had designed a concept car with parents of young children in mind, hoping to keep children safer and make parents’ lives easier.
A XC90 SUV had had its front passenger seat removed, replaced with a baby seat pedestal. The pedestal allows the car seat to be locked in rear facing position and to swivel. The baby would be able to maintain eye contact with passengers and the driver, and it would be easier to remove the child from the car.Read more »