(Reuters) – Auto sales in November were helped by a rebound from storm-ravaged October and the need to replace aging vehicles which put the industry on pace for a near five-year high and left executives optimistic about 2013.
Sales in November were on pace to top an annual rate of 15 million vehicles, which would mark the highest level since the 15.5 million rate of February 2008.
LOS ANGELES, Nov 29 (Reuters) – Hyundai Motor Co’s
admission that it overstated fuel economy claims on
several of its top-selling cars has the industry worried, with
speculation rife among executives and analysts at the Los
Angeles auto show that more automakers may have to do the same.
Four weeks ago, Hyundai and its affiliate Kia Motors Corp
conceded that they overstated the fuel economy by at
least a mile per gallon on more than 1 million recently sold
LOS ANGELES (Reuters) – Honda Motor Co introduced its redesigned Civic sedan only a year-and-a-half after a major model change of the best-selling compact car in the United States.
Even Honda admits that the 2012 Civic, introduced in the spring of 2011, missed the mark. For a company that prides itself on rock-solid reliability, it was a shock last summer when influential Consumer Reports ranked the Civic dead last in a field of 12 compact sedans it tested.
LOS ANGELES (Reuters) – Ford Motor Co, which has emphasized improving the fuel efficiency of its lineup, won a top “green car” award for its Fusion midsize sedan, which is offered in gas-powered, hybrid and plug-in hybrid versions.
This wide range of powertrains was the reason it was dubbed Green Car of the Year at the Los Angeles Auto Show on Thursday. The award by Green Car Journal recognizes leadership in reducing tailpipe emissions.
LOS ANGELES, Nov 29 (Reuters) – Ford Motor Co, which
has emphasized improving the fuel efficiency of its lineup, won
a top “green car” award for its Fusion midsize sedan, which is
offered in gas-powered, hybrid and plug-in hybrid versions.
This wide range of powertrains was the reason it was dubbed
Green Car of the Year at the Los Angeles Auto Show on Thursday.
The award by Green Car Journal recognizes leadership in reducing
LOS ANGELES, Nov 29 (Reuters) – U.S. auto sales are expected
to rebound robustly in November, potentially hitting their
strongest pace in more than four years, as consumers in the
Northeast returned to dealerships after superstorm Sandy hurt
demand in late October.
November sales were also boosted by pent-up demand for
vehicles as consumers replaced their aging cars and trucks,
analysts and executives said.
DETROIT (Reuters) – Detroit plans to put workers on unpaid leave starting January 1 to prevent the city from running out of money if the city council continues to balk at reform measures and the state of Michigan blocks the release of much-needed funds.
The furloughs and other cost-cutting measures outlined by Mayor Dave Bing and top city officials on Wednesday are meant to offset $30 million that Michigan is withholding from the city unless certain conditions are met.
(Reuters) – Superstorm Sandy may consign as many as a quarter of a million new and used cars and trucks to the scrap heap, a loss that could eventually lead to a spike in new auto sales, automakers and dealers said.
So far, automakers have reported that some 16,000 brand new vehicles will have to be scrapped due to the killer storm that flooded coastal areas in New Jersey and New York. Many of them were stored at the port of Newark when Sandy hit.
(Reuters) – Electric car maker Tesla Motors Inc (TSLA.O: Quote, Profile, Research, Stock Buzz) said on Monday it was on track to reach an annual production rate of 20,000 for its Model S sedan in December, sending its shares up nearly 8 percent.
The company also said that by the end of the current quarter it would be halfway to its goal of a 25 percent gross margin. The positive outlook overshadowed Tesla’s report of a wider third-quarter loss.
DETROIT, Nov 1 (Reuters) – A Chrysler executive told Donald
Trump in a Tweet on Thursday that the real estate executive and
television personality was “full of shit” for repeating a notion
that Chrysler is shipping U.S. Jeep production to China, which
the automaker refutes.
Ralph Gilles, the head of product design for Chrysler,
became the second top Chrysler executive in three days to
strongly deny the claim, which was first made by Republican
presidential candidate Mitt Romney last week to a crowd in Ohio.