Archive for January, 2009
AutoNation Inc. is preparing for billionaire investor Ed Lampert to take a majority stake in the company. The nation’s largest vehicle retailer announced Thursday that it obtained approval from auto manufacturers for ESL Investments Inc.
Tags: Auto Manufacturers, AutoNation, Autonation Inc, Billionaire, Ed Lampert, Esl Investments Inc, Investor, Lampert, Majority Stake, vehicle retailer
Auto parts maker Contech LLC said on Friday that it has filed for Chapter 11 bankruptcy protection, citing a downturn in the automobile industry.
Tags: Auto Parts, auto-parts maker, Automobile Industry, Chapter 11 Bankruptcy, Chapter 11 Bankruptcy Protection, Contech LLC, Downturn, Llc, Parts Auto, parts maker
General Motors could face a multibillion-dollar tax hit under its $13.4 billion federal bailout, a scenario the automaker faces just weeks before it must file a restructuring plan with the government.
Tags: Automaker, Bailout, Face, General Motors, Gm, Multibillion Dollar, Restructuring, Tax Changes, United States, USD
Ford Motor Co. said today it has reduced global warranty costs by $1.2 billion during the past two years — $100 million in 2008 and $1.1 billion in 2007. Since 2004, the per-vehicle warranty repair rate has dropped by 50 percent for U,.S.
Tags: 1 Billion, 100 Million, Ford, Ford Motor, Ford Motor Co., Ford Warranty, Global Warranty, Slashes, USD, Vehicle Warranty, Warranty, Warranty Costs, Warranty Repair
Wheel supplier Hayes Lemmerz International Inc. has amended its senior secured credit facility, the company said in a statement. But the supplier says it can’t promise it will meet the terms of the amended loan.
Tags: Hayes Lemmerz, Hayes Lemmerz International, Hayes Lemmerz International Inc, Loan Terms, Wheel
Mitsubishi will import a five-door version of its Lancer sedan this summer. The five-door will be a 2010 model and will come in two variants: a 168-hp Sportback GTS and a high-performance, 237-hp Sportback Ralliart.
Tags: Gts, High Performance, Hp, Lancer, Lancer Mitsubishi, Mitsubishi, Mitsubishi Lancer
Sen. Bob Corker of Tennessee is not yet convinced that the UAW has given up enough to support the federal loans offered to General Motors and Chrysler LLC.
Tags: Bob Corker, Chrysler, Chrysler LLC, Federal Loans, General Motors, Sen Bob Corker, Tennessee, Uaw Concessions
Key Plastics LLC’s prepackaged Chapter 11 bankruptcy has received court and creditors’ approval, the company said in a release. The plan, confirmed yesterday in U.S.
Tags: Bankruptcy Court, Chapter 11 Bankruptcy, Creditors, Key Plastics, Key Plastics LLC, Llc, United States
Drivetrain parts supplier American Axle and Manufacturing Holdings Inc. today reported a wider quarterly loss due to tumbling production volumes by major automakers, and its shares fell 22 percent for the day. The net loss came to $112.
Tags: American Axle And Manufacturing, American Axle And Manufacturing Holdings, American Axle And Manufacturing Holdings Inc, Automakers, Drivetrain, Drivetrain Parts, Production Volumes, Quarterly Loss
General Motors will not sell the 2009 Saturn Astra compact car in the United States, a Saturn spokesman said today. GM will resume sales of the Astra in late summer or early fall as a 2010 model.
Tags: Compact Car, General Motors, Gm, Saturn, Saturn Astra, Saturn Car, Sell Car, Spokesman, United States
Four automakers have met with environmentalists and the California Air Resources Board to see whether the parties can agree on nationwide standards for carbon dioxide emissions.
Tags: Air Resources Board, Automakers, California, California Air Resources, California Air Resources Board, Carbon Dioxide Emissions, Environmentalists, Met, Nationwide, Regulators
Toyota Motor Sales U.S.A. Inc. is recalling about 135,000 Yaris small cars sold in the United States because seat belt pretensioners could ignite foam padding in the passenger compartment. The recall affects 2006 and 2007 models.
Tags: Foam Padding, Models, Seat Belt Pretensioners, Seat Sales, Small Cars, Toyota, Toyota Motor, Toyota Motor Sales, Toyota Motor Sales U.S.A. Inc., Toyota Recalls, Toyota Sales, Toyota Yaris, United States, Yaris
The UAW signaled its willingness to give Ford Motor Co. the same bailout concessions as General Motors and Chrysler LLC when it agreed to permit Ford to terminate its Jobs Bank.
Tags: Bailout, Chrysler, Chrysler LLC, Concessions, Ford, Ford Motor, Ford Motor Co., General Motors, Jobs Bank, UAW, Willingness
Ford Motor Co. is not contemplating any large-scale support for struggling auto parts maker Visteon Corp. and sees no need to inject cash into its former affiliate, the automaker said today.
Tags: Auto Parts, auto-parts maker, Automaker, Ford, Ford Motor, Ford Motor Co., Visteon, Visteon Corp, Visteon Ford, Visteon Ford Motor Co.
Suppliers Metaldyne Corp. and KS Kolbenschmidt GmbH have formed an alliance to create complete power cylinder systems.
Tags: Form Alliance, Kolbenschmidt, KS Kolbenschmidt GmbH, Metaldyne, Metaldyne Corp, Power Cylinder, power cylinder systems, Suppliers Metaldyne Corp.
A federal judge in Rhode Island has lifted a temporary restraining order that prevented American Honda Motor Co. from banning online sales of Honda-backed extended warranty contracts.
Tags: American Honda Motor, American Honda Motor Co, Extended Warranties, Extended Warranty, Federal Judge, Honda, Honda Motor, Honda Motor Co., Honda Sales, Honda Warranty, online sales, Rhode Island, Temporary Restraining Order, Warranty, Warranty Contracts
General Motors bondholders may receive around 20 percent of the company’s equity as part of a planned debt exchange designed to reduce the automaker’s crippling debt load, JPMorgan said.
Tags: Automaker, Bondholders, Debt Exchange, Debt Load, General Motors, Gm, Jpmorgan
For the first time in eight years, the Detroit 3 will sit on the sidelines rather than advertise during the Super Bowl telecast. Three import brands — Hyundai, Audi and Toyota — are buying ad time during Sunday’s NFL championship game. So is Cars.
Tags: Advertise, Advertising, Cars, Detroit, Hyundai, National Football League, Nfl Championship Game, Sidelines, Sit, Super Bowl, Super Bowl Telecast, Toyota
Swedish air bag and seat belt maker Autoliv today reported its first-ever quarterly pretax loss and said it would continue to lose money in the coming months.
Tags: Air Bag, Autoliv, Belt Maker, Money, Pretax Loss, Seat Belt, seat belt maker, Swedish Air
The U.S. Justice Department today announced the launch of an electronic database that will help auto dealers and consumers check vehicle histories. The database, which has been in the works for more than 16 years, goes live at 9 a.m.
Tags: Auto Dealers, Consumers, Electronic Database, Feds, Justice Department, Launch, U.S. Justice Department, Vehicle Database, Vehicle Histories
Noble International Ltd. has retained financial advisers as it reviews “strategic alternatives” for the company’s future, Noble said today.
Automotive mirror supplier Gentex Corp. today said it posted a quarterly loss for the first time in 25 years, hurt by last-minute customer order reductions, and said it expected a 40 percent decline in sales during the current quarter.
Tags: Automotive Supplier, Decline, Gentex Corp, Mirror, mirror supplier, Quarterly Loss
AutoNation Inc., the nation’s largest auto dealership group, today said it remained profitable in the fourth quarter despite a $1.4 billion drop in revenue.
Tags: Auto Dealership, AutoNation, Autonation Inc, Dealership Group, Decline, Fourth Quarter, Largest Auto
Automotive seating and electronics supplier Lear Corp. reported a loss for the fourth quarter due to sharply lower vehicle output in North America and Europe and said it was talking to lenders to arrange new credit terms.
Tags: Automotive Seating, Electronics Supplier, Europe, Fourth Quarter, Lear Corp, Lenders, North America, Swings
| 0.75 | |||
| Ford Motor Compan | 12.80 | ||
| Daimler Ag Common | 44.60 | ||
| Toyota Motor Corp | 76.67 | ||
| Honda Motor Compa | 36.01 |