Top Headlines - part 6
BUSINESS September 9, 2015 | 11:01 AM
- Hotspot plugs into vehicle diagnostic port
- AT&T customers can add service to plan
- Report reveals 10 cars with lowest loyalty ratings
U.S. telecommunications provider AT&T Inc. has partnered with Chinese equipment company ZTE Corp. to provide ZTE Mobley, a plug-in vehicle hotspot.
Mobley plugs into a vehicle’s on-board diagnostic port under the dashboard, which recharges the device, and is compatible with model years 1996 and newer. It allows up to five devices to connect to the Internet.Read more »
BUSINESS September 8, 2015 | 10:37 AM
- Company says policy change is the right thing to do
- Procedures in place to deal with recalled trade-in vehicles
- Rival CarMax does not have resources to change policy
America’s largest auto retailer, AutoNation Inc., has changed its policy to no longer sell any vehicle that is under warranty until it is repaired.
The policy is an extension of one already in place not to sell or lease new cars under recall. The extension now includes used cars and wholesaling.Read more »
BUSINESS September 7, 2015 | 1:34 PM
- Ride-share provider trying to improve market share
- Uber facing challenges in China
- Uber’s rival raises $3 billion
Car-hailing provider Uber has raised $1.2 billion to invest in its Chinese subsidiary in an effort to increase market share in the company’s fastest-growing market, Chinese news website Sina.com reports.
Investors include Chinese search engine Baidu and insurance companies China Life and China Taiping.Read more »
BUSINESS September 3, 2015 | 1:02 PM
- CFO was nominated to take over chairman position
- Some have concerns over lack of transition
- Former chairman ousted in power struggle
Volkswagen’s supervisory board is prepared to nominate chief finance officer Hans Dieter Poetsch to take over the role of board chairman, the company said in a statement.
The recommendation was made by Porsche Automobil Holding SE, which owns the majority of Volkswagen’s common stock and is controlled by the Porsche-Piech family.Read more »
BUSINESS September 2, 2015 | 2:08 PM
- First deliveries expected this month
- Includes many safety and autonomous-driving features
- Model S sales have yet to peak
Customers on the waiting list for Tesla Motors’ crossover Model X can now begin to customize their vehicles.
Customers on the reserve list for the Signature Model X can select options, colors and whether they want to purchase the $10,000 Ludicrous Speed upgrade which would decrease the time it takes to go from 0-60 miles were hour.Read more »
BUSINESS September 1, 2015 | 1:16 PM
- Analysts had forecasted drops for all automakers
- August sales affected by calendar, stock prices
- Fiat Chrysler Canada sees overall increase despite 19% car sale drop
U.S. auto sales were slow in August but still beat analysts' estimates that all automakers would experience a drop.
TrueCar.com had predicted the industry would fall 3%, the first decline since January 2014.Read more »
BUSINESS August 31, 2015 | 12:41 PM
- Merger would be worth $30 billion
- Fiat CEO believes there is waste in the auto industry
- Fiat will survive even without GM merger
Fiat Chrysler Automobiles NV CEO Sergio Marchionne says an offer to merge with rival General Motor Co. cannot be refused, according to an interview in Automobile News.
The new company would be worth $30 billion annually before interest, taxes, depreciation and amortization, Marchionne says. His figures are based on an annualized rate of 17 million new cars and trucks in the U.S. He analyzed product by product, plant by plant, area by area for both companies, he said.Read more »
BUSINESS August 27, 2015 | 1:11 PM
- Filing says ten automakers knew of the danger
- 13 drivers have died from carbon monoxide
- Carbon monoxide kills Americans each year
Ten automakers know of a deadly defect in keyless ignitions systems yet continue to sell the systems despite the danger, a class action lawsuit filed in Los Angeles federal court alleges.
Keyless ignition systems work by allowing drivers to press a button to start the ignition while their key fob remains in their pockets or purses. The fob must be in the car in order for the engine to start.Read more »
BUSINESS August 26, 2015 | 12:46 PM
- Oshkosh beat out several other contractors
- Vehicles designs needed to meet government requirements
- Contract provides Oshkosh with much needed stability
The U.S. Army has awarded a $6.75 billion contract to Oshkosh Corp. for the construction of military vehicles, according to the Wall Street Journal.
Oshkosh beat out AM General LLC and Lockheed Martin Corp. In January, each company’s prototype was tested by the army. Several other companies including Ford Motor Co., General Dynamics Corp.and Navistar International Corp.were eliminated in an earlier round of bidding.Read more »
BUSINESS August 25, 2015 | 12:28 PM
- Luxury brands scored higher than mainstream ones
- Three Fiat brands near the bottom
- Customer satisfaction with industry down
U.S. car buyers love Lexus, but are dissatisfied with Fiat, according to the American Customer Satisfaction Index.
The ACSI studies U.S. consumer experiences with products and services. In a survey, 4,300 customers were asked to rate experiences with cars they purchased between six months and three years ago. Twenty-seven brands were included.Read more »