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Top News & Analysis Detroit

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  • BOSTON/ DETROIT, July 30- A researcher is advising drivers to halt the use of a mobile app for General Motors Co's OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to remotely unlock cars and start engines. "White-hat" hacker Samy Kamkar posted a video on Thursday saying he had figured out a way to "locate, unlock and...

  • Business events scheduled for the coming week Thursday, 30 Jul 2015 | 1:40 PM ET

    WASHINGTON— Commerce Department releases personal income and spending data for June, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases international trade data for June, 8:30 a.m.; Institute for Supply...

  • Hercules recalling 90,000 SUV tires Thursday, 30 Jul 2015 | 9:10 AM ET

    DETROIT— An Ohio company is recalling about 90,000 SUV tires because the tread can separate, causing a loss of air and increasing the risk of a crash. The recall covers certain 15- and 16- inch Hercules Tire& Rubber Co. All Trac A/T tires made from June of 2008 to May of 2010.. The recall came after an attorney notified the National Highway Traffic Safety...

  • MILAN— Fiat Chrysler Automobiles on Thursday raised its revenue forecast after strong sales in North American and a recovery in the European market boosted second-quarter profits by 70 percent. The company said in a presentation to analysts Thursday that it didn't expect the Ram buyback offer to cost more than $20 million. Fiat Chrysler reported its net...

  • Ford F-150 gets mixed crash test results Wednesday, 29 Jul 2015 | 6:38 PM ET

    DETROIT— Ford's new aluminum-sided F-150 pickup saw mixed results in new crash tests by the insurance industry, and the damaged trucks cost more to repair than steel-bodied ones. The four-door Super Crew version of the 2015 F-150 got top ratings in all five of the crash tests performed by the Insurance Institute for Highway Safety. The Insurance Institute also...

  • DETROIT— Standard& Poor's has boosted Detroit's rating on eight- to 15- year bonds the city plans to sell to improve public services. City officials said Wednesday that the better rating could get Detroit a lower interest rate and save $20 million in interest over the life of the bonds. The $245 million bonds are backed by city income tax revenue and were part of...

  • Tesla offers 1st incentive in owner referral program Wednesday, 29 Jul 2015 | 4:20 PM ET

    DETROIT— Electric car maker Telsa Motors Inc. is offering its first incentive, $1,000 to new-car buyers who are referred by current Tesla owners. Owners who make a referral also will get $1,000 in their Tesla account that can be spent on a car purchase, service or accessories. CEO Elon Musk said the $2,000 is about equal to what it costs to sell a car through a company...

  • Tesla offering $1,000 referral bounty on Model S sales Wednesday, 29 Jul 2015 | 4:07 PM ET

    DETROIT, July 29- Tesla Motors Inc will offer a $1,000 bounty to Model S owners and buyers who take advantage of word-of-mouth referrals of the electric cars, Chief Executive Elon Musk said Wednesday. The referral bounty will be available to those who buy new Tesla sedans- and those who refer them- through October 31. Under the program, buyers will get $1,000 off the...

  • DETROIT, July 29- Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company's plans. While the Italian-American automaker said it will bring three new sports models from Italy to the United States in the...

  • DETROIT— When a car dealer offers to loan you the money to buy a car at zero interest, it gets your attention. Experian Automotive, which tracks auto loans, says 7 percent of new car loans had an interest rate of 1 percent or lower in the first quarter of this year. Edmunds recommends taking the cash to reduce your total loan amount for the base all-wheel-drive model...

  • *To restructure and downsize India operations. *To stop production at one of two plants in India. NEW DELHI, July 29- General Motors Co said on Wednesday it will invest $1 billion over the next few years to turn India into a global export hub, even as it cuts production capacity in the country due to sluggish demand.

  • DETROIT— Mini is recalling about 35,000 cars in the U.S. and Canada because they don't meet side-impact crash-test requirements. The company owned by BMW says that if crash-test requirements aren't met, rear-seat passengers could have a higher risk of injury. The recall includes 30,456 cars in the U.S. and another 4,130 in Canada.

  • Average US vehicle age hits record 11.5 years Wednesday, 29 Jul 2015 | 7:00 AM ET

    DETROIT— In the age of Apple's CarPlay, a lot of cars on the road still have tape decks. The average vehicle in the U.S. is now a record 11.5 years old, according to consulting firm IHS Automotive, a sign of the increased reliability of today's vehicles and the lingering impact of the sharp drop in new car sales during the recession. Cars and trucks now have the same...

  • DETROIT— U.S. auto safety regulators have rejected a request from an advocacy group to investigate power system failures in almost 5 million Fiat Chrysler vehicles that potentially could cause stalling and other problems. The National Highway Traffic Safety Administration said in documents posted Tuesday that two fuel pump relay recalls took care of...

  • DETROIT— A Georgia judge has cut the damages that Fiat Chrysler must pay the family of a child who died in a Jeep SUV fire from $150 million to $40 million. In a ruling issued Friday and made public Tuesday, Chason decided that the family of 4- year-old Remington Walden should get $30 million for his death and $10 million for pain and suffering. A 12- person jury found...

  • DETROIT— The National Wildlife Federation accused the U.S. Transportation Department on Tuesday of not enforcing a federal law that requires pipeline owners and operators to establish safety response plans for worst-case oil spills in lakes, rivers and other waterways. While the pipelines that spurred the group's action are two side-by-side conduits...

  • Ally Financial tops 2Q profit forecasts Tuesday, 28 Jul 2015 | 7:58 AM ET

    DETROIT— Ally Financial Inc. on Tuesday reported second-quarter profit of $182 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. Ally Financial shares have decreased roughly 9 percent since the beginning of the year.

  • Sales were robust in Europe and North America but fell in China, usually a strong market for the company. Detroit- based General Motors Corp., the top-selling automaker for more than seven decades until being surpassed by Toyota in 2008, finished third at 4.86 million, down 1.2 percent from a year ago. In the first half, Toyota's sales grew in U.S., Mexico and China.

  • That beats the old record of $70 million assessed against Honda Motor Co. for lapses in reporting deaths and injuries to safety regulators. FCA's fine includes $70 million in penalties, at least $20 million to meet performance requirements and $15 million if an independent recall monitor finds any further violations. Fiat Chrysler shares traded in the New...

  • TOKYO, July 27- The president of Mitsubishi Motors Corp said Japan, Southeast Asia and Russia will become the automaker's principal production hubs after it quits making cars in the United States later this year because of dwindling sales there. "Japan, ASEAN, and Russia will be the main points of production for our company," said Tetsuro Aikawa, president and chief...