Tag Archives: automotive news

Oshkosh Silliness? First Flying Car Slated for 2019

However, neither Chinese investments nor smart people appear to be in favor with President Trump who is enmeshed in a trade war with China and most U.S. allies that has the potential – or promise – to greatly harm auto companies in the U.S. and their workers. Continue reading

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Room for More Recycling

Recycling has become a normal part of everyday life for almost all Americans. Though the concept of recycling has been present for millennia, the modern recycling movement was really accelerated in the 1970s. Continue reading

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First Drive – 2014 Lexus IS Sedan

Unlike earlier electronic traction, anti-lock braking, yaw control and computerized damping systems, the latest ones are slickly integrated and even predictive, instead of slowly reactive. The upshot is a fully electronic car that is capable of driving at the limits all the time. These systems are now capable of producing faster lap times than professional racing drivers can without them, and the IS system is state of this dark electronic art. Continue reading

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North Carolina Man Charged in Odometer Fraud Scheme

The United States charged Francis Marimo, of Raleigh, NC with two counts of odometer tampering, according to the Department of Justice statement released today. The charges were filed in U.S. District Court for the Eastern District of North Carolina on 10 April 2013, alleging that from 2008 through 2012, Marimo fraudulently caused odometers in used motor vehicles to be altered to reflect false, low mileages. Continue reading

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Ford Motor to Pay Q2 Dividend of $0.10 Per Share

Ford Motor Company today declared Q2 dividend of $0.10 per share on the company’s outstanding preferred Class B and common stock. This is the same dividend paid in the first quarter of 2013, and twice the amount paid in Q2 last year. The second quarter dividend is payable on June 3, 2013 to shareholders of record on May 3, 2013. Continue reading

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New Steel Alloys can Outperform Aluminum and Carbon fiber

Part of the steel industry’s problem, aside from the overall lack of interest among technically illiterate consumers, is regulatory. While the Obama Administration is in the process of implementing the most stringent emissions and fuel economy standards in history, the Environmental Protection Agency only looks at a crude mile per gallon rating that does not take into effect the energy used and greenhouse gas emissions that result during the creation of the 10,000 or more components that comprise an automobile. Continue reading

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Takata Airbag Recall on 3.3 Million BMW, Honda, Mazda, Nissan and Toyota Cars

While an airbag is a safety device, its explosion if not properly controlled can be deadly. Japanese supplier Takata is recalling more than 3 million vehicles globally because its airbags when deployed can send metal fragments – shrapnel – into a car’s interior striking and potentially seriously injuring the passenger seat occupant or other occupants. Continue reading

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Toyota Recalls Corolla, Sequoia, Tundra, Lexus SC 430 Airbags

Toyota Corolla, Corolla Matrix, Sequoia, and Tundra, and Lexus SC 430 models are being recalled for defective airbags. Continue reading

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Daimler AG Sets Dividend at €2.20 a Share

At the Annual Shareholders’ Meeting of Daimler AG in Berlin on Wednesday, shareholders approved a dividend for the year 2012 of €2.20 per share, the same as in 2011 for a total dividend payout of €2.35 bllion. Continue reading

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World Trade to Remain Weak in 2013 as Eurozone Drags on Economy

Projected trade growth of 3.3% in 2013 is well below the 20-year average of 5.3% and even further below the pre crisis trend of 6% during the 1990-2008 period. Continue reading

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General Motors Declares Dividend on Series B Stock

The dividend on the hybrid stock – a mixture of stock and debt – is cumulative. GM has not paid a dividend on its common stock since 2008 before it entered bankruptcy. The total amount of the dividend is $59.4 million. Continue reading

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Jaguar Land Rover Set March and Q1 Sales Records

Overall and particularly overseas, JLR made impressive gains that eluded it under Ford Motor Company ownership. The Tata owned British automaker had sales of 53,772 in March and 115,504 for Q1 of 2013. This means Jaguar Land Rover has posted its best ever monthly and quarterly global sales performance, up 16% and 17% respectively versus the prior year. Continue reading

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General Motors to Invest €4 Billion in Loss-Making Opel

GM has lost more than $18 billion in Europe since 1999, including $1.8 billion in 2012. GM also wrote down more than $5 billion in assets in the Eurozone, and it wrote off more than half the value of its PSA Citroën stock (-$220 million) acquired latest year in what GM said at the time was a collaboration that would, eventually, save billions. Nothing was really new in today’s speeches. Continue reading

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Kia Dealers Offer Three Months of Sirius on Used Vehicles

Sirius XM Radio and Kia dealers will give customers a three-month subscription when buying used vehicles equipped with satellite radio. Participating Kia dealers join more than 9,000 auto dealers across the country enrolled in the SiriusXM Pre-Owned Vehicle Program. Continue reading

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Zhongding Power to Fund $200 Million EcoMotors Engine Plant

Zhongding Power and EcoMotors today announced an agreement to produce engines in Anhui Province China. The plant represents an investment by Zhongding of more than $200 million and will have a capacity of about 150,000 “Opoc” engines per year when production begins in 2014. Continue reading

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