Bernie's Feed
Jul 17, 2014

AutoNation profit misses expectations, shares drop

DETROIT (Reuters) – Shares of AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz), the largest U.S. auto dealer group, fell as much as 8 percent on Thursday after its earnings missed analysts’ expectations.

Analyst Joseph Amaturo of the Buckingham Research Group said he was “unimpressed” with AutoNation’s results and that the company was not expanding its share of the U.S. new-vehicle market.

Jul 17, 2014

Recalled Jeeps can be made safer by March, rather than by 2018-Chrysler

DETROIT, July 17 (Reuters) – Chrysler Group LLC told U.S.
safety regulators it could add trailer hitches to recalled Jeep
SUVs by March, much sooner than the several years estimated by
regulators who had urged the automaker to quicken its pace for
fixing the affected vehicles.

Chrysler’s statement late Wednesday, in a filing with the
National Highway Traffic Safety Administration, comes two weeks
after the agency asked for an explanation on why it would take
Chrysler so long – until 2018 – to make Jeep SUVs with rear fuel
tanks safer by adding the trailer hitches.

Jul 2, 2014

Chrysler too slow to fix Jeep fuel-tank risk, regulators say

DETROIT (Reuters) – U.S. safety regulators are demanding an explanation for what they say is Chrysler’s slow pace in making fixes to protect rear fuel tanks in older model Jeep SUVs even though the regulators have accepted the automaker’s remedy in the case of lower-speed crashes.

The National Highway Traffic Safety Administration said on Wednesday that at Chrysler’s current pace it would take nearly five years to fix all of the affected Jeep Grand Cherokee and Jeep Liberty SUVs involved in a recall announced last June.

Jul 1, 2014

Chrysler’s U.S. sales up 9 percent, besting forecasts

DETROIT (Reuters) – Chrysler Group on Tuesday reported a 9 percent gain in U.S. auto sales for June, beating forecasts for a month expected to show an industrywide decrease from a year earlier.

June sales for the U.S. market overall are expected to fall about 3 percent, but analysts say that is due to two fewer selling days than a year earlier rather than a weaker new-vehicle market.

Jun 30, 2014

GM’s ignition-switch crisis deepens; death toll rises to 16

DETROIT (Reuters) – General Motors Co’s (GM.N: Quote, Profile, Research, Stock Buzz) ongoing safety crisis over deadly ignition switches deepened on Monday with the recall of 8.23 million mostly older cars linked by the U.S. automaker to three deaths.

The latest recalls boosted the number of deaths acknowledged by GM to at least 16. The automaker said it now knows of 61 crashes tied to faulty ignition switches, although U.S. lawmakers and safety regulators have said they expect the death toll to climb.

Jun 30, 2014

GM adds 8.23 million cars to ignition-switch recall

DETROIT (Reuters) – General Motors Co GM.N on Monday widened the list of older models it is recalling for potentially deadly ignition switches, adding 8.23 million compact and midsize cars that it has linked to seven crashes and three fatalities.

GM this year has recalled 29 million vehicles, more than half of them – roughly 14.7 million – because of potentially defective ignition switches. GM last year sold 2.8 million vehicles in the United States and 9.7 million globally.

Jun 26, 2014

Jeep to enter India market in 2015 – executive

, June 26 (Reuters) – Fiat Chrysler
Automobiles will begin selling Jeep, the SUV brand
central to its global expansion, in India in 2015, the brand’s
chief, Mike Manley, said on Thursday.

Manley said the original plan was for Jeep to enter the
India market in late-2013, but that was delayed because he did
not feel the brand would enter the market strongly at the time.

Jun 26, 2014

GM prepares to recall some Cruze sedans with Takata air bags

DETROIT, June 25 (Reuters) – General Motors Co is
preparing to recall about 33,000 Chevrolet Cruze sedans with
potentially defective air bags made by troubled Japanese
supplier Takata Corp, the automaker said late
Wednesday.

In a crash, the driver-side air bag on the 2013-2014 Cruze
could fail to inflate, GM said.

Jun 26, 2014

GM dealers stop selling some Cruze sedans with Takata air bags

DETROIT (Reuters) – General Motors Co on Wednesday told its North American dealers not to sell an inventory of about 33,000 new and used Chevrolet Cruze sedans from model years 2013 and 2014 because of a potential problem with air bags made by troubled Japanese supplier Takata Corp.

Potentially faulty air bags supplied by Takata have led to the recall of about 10.5 million vehicles worldwide, many of them made by Toyota Motor Corp and Honda Motor Co.

Jun 25, 2014

GM tells dealers to stop selling Cruze sedans with Takata air bags

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) on Wednesday said that it has told its North American dealers to stop selling new and used Chevrolet Cruze sedans from model years 2013 and 2014 because of a potential problem with air bags made by troubled Japanese supplier Takata Corp (7312.T: Quote, Profile, Research).

Potentially faulty air bags supplied by Takata have led to the recall of about 10.5 million vehicles worldwide, many of them made by Toyota Motor Corp (7203.T: Quote, Profile, Research) and Honda Motor Co (7267.T: Quote, Profile, Research).