Correspondent, Detroit
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Feb 12, 2014

U.S. auto industry quality slips for first time in 16 years: survey

DETROIT (Reuters) – Engine and transmission problems caused quality in the U.S. auto industry to slip for the first time in 16 years in a vehicle dependability study of owners of 3-year-old cars and trucks, falling from last year’s record-high levels.

The industry’s 2011-model cars, introduced in 2010, the year after sector sales hit a 28-year low during the recession, saw a nearly 6 percent decline in quality to 133 problems per 100 vehicles from 126 last year, according to the J.D. Power U.S. vehicle dependability survey released on Wednesday. It was the first increase in the average number of problems since 1998.

Feb 12, 2014
Feb 11, 2014
Feb 11, 2014
Feb 11, 2014

GM’s new chairman not afraid to make unpopular calls

DETROIT, Feb 11 (Reuters) – General Motors Co’s new
Chairman Theodore “Tim” Solso is not afraid to make edgy and
sometimes unpopular decisions, a trait that could come in handy
as the No. 1 U.S. automaker seeks to further reinvent itself
under new Chief Executive Mary Barra.

The plain-spoken native of the U.S. Pacific Northwest joined
the automaker’s board in 2012. In his former role as chairman
and CEO of diesel engine maker Cummins Inc, Solso
actively embraced tough new federal emissions regulations at a
time when some rivals resisted change. He also introduced
benefits for gay couples at a company based in a more
conservative region of Indiana.

Feb 6, 2014

GM’s dismal profit may spur analysts to cut 2014 estimate

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) reported a disappointing fourth-quarter profit on Thursday, hurt by weaker-than-expected results in Asia and South America that may prompt analysts to ratchet down their profit forecasts for 2014 for the No. 1 U.S. automaker.

The poor showing triggered an early drop in GM’s stock price by as much as 2.5 percent, before it recovered to gain 0.2 percent to $35.31 in afternoon trading.

Feb 6, 2014
Feb 6, 2014
Feb 6, 2014

GM quarterly profit misses estimate, shares drop

DETROIT (Reuters) – General Motors Co posted a weaker-than-expected fourth-quarter profit on Thursday as results in North America, Asia and South America disappointed, sending shares down more than 3 percent in premarket trading.

GM Chief Financial Officer Chuck Stevens said the miss occurred because analysts did not fully account for restructuring relating to plans to close the Bochum, Germany plant later in the year, as well as a higher-than-expected tax rate.

Feb 5, 2014
    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Joined Reuters:
      1998
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