Detroit may be moving to resolve its pension crisis, but New Jersey's pension problems are just heating up.» Read More
As General Motors prepares to report monthly sales results on Friday, a look its numbers from June show just how intent the company is on keeping new-car sales on the rise during a record spate of safety recalls. The Detroit automaker has recalled nearly 30 million cars and trucks this year, including some models that had barely rolled off the assembly line.
DETROIT, Aug 1- The U.S. auto industry hasn't appeared so healthy for years. And yet, a minority on Wall Street and in the autos business are seeing reasons to be wary. Among those seeing a glass half empty is Morgan Stanley auto analyst Adam Jonas who says we may be heading towards what he terms "peak auto."
DETROIT, July 31- Tesla Motors Inc, the California- based maker of luxury electric cars, said it lost $61.9 million, or 50 cents a share, in the second quarter, as revenue nearly doubled to $769.3 million. In the year-ago quarter, Tesla lost $30.5 million, or 26 cents a share, on revenue of $405.1 million.
RENO, Nev.— Electric car maker Tesla Motors said Thursday that it is preparing a site near Reno, Nevada, as a possible location for its new battery factory, but is still evaluating other sites. Tesla said it broke ground on the Nevada site in June. California, New Mexico, Arizona and Texas are also in the running.
DETROIT, July 31- Tesla Motors Inc, the California- based maker of luxury electric cars, said it lost $61.9 million, or 50 cents a share, in the second quarter, as revenue nearly doubled to $769.3 million. On a non-GAAP basis, Tesla said it earned 11 cents a share, topping analysts' expectations of 4 cents.
DETROIT, July 31- Delphi Automotive Plc reported stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the third quarter that could fall short of analysts' expectations, and shares fell 0.4 percent in morning trading.
July 30- A federal appeals court panel heard arguments on Wednesday between Detroit and one of its last hold-out creditors over casino tax revenue, with one of the judges promising a careful consideration of the case, the Detroit News reported.
DETROIT— Chrysler is recalling just under 30,000 Fiat 500 L small cars in the U.S. and Canada to fix a problem with air bags that protect knees in a crash. The company says in a statement Wednesday that the bags may not inflate in the proper position if the driver isn't wearing a seat belt.
*Results hit by weak Latin America, disappointing N. America. MILAN, July 30- Fiat plans to review its leasing and sales incentive practices in North America to boost margins in the region as it seeks to meet its global full-year targets despite persistent weakness in Latin America and further losses in Europe.
DETROIT— A Texas lawyer has filed a lawsuit against General Motors on behalf of 658 people who were injured or killed in crashes allegedly caused by faulty ignition switches. The lawsuit filed Tuesday in U.S. District Court in Manhattan in New York City names 29 people who were killed in crashes and 629 who were hurt.
2014 Jeep Grand Cherokee Summit EcoDiesel 4 X4. BASE PRICE: $29,495 for Laredo 4 X2; $31,095 for Laredo E 4 X2; $31,495 for Laredo 4 X4; $33,095 for Laredo E 4 X4; $35,590 for Altitude 4 X2; $36,495 for Limited 4 X2; $37,590 for Altitude 4 X4; $38,495 for Limited 4 X4; $43,195 for Overland 4 X2; $46,195 for Overland 4 X4; $48,195 for Summit 4 X2; $51,195 for Summit 4 X4.
But that's not all: With the addition of an impressive diesel V-6 from Jeep's parent, Fiat of Italy, the 2014 Grand Cherokee 4 X2 now boasts a federal government travel range of 615 miles on a single tank of fuel, the best ever for a Grand Cherokee.
DETROIT, July 30- South Korean automaker Hyundai Motor Co will recall about 883,000 Sonata mid-sized sedans in the United States and Puerto Rico because a potentially defective transmission-shift cable could increase the risk of a crash.
MILAN— Italian carmaker Fiat SpA, which controls Chrysler, on Wednesday said second-quarter profits dropped by more than a half due to lower performance in North and Latin America. Fiat, whose shareholders vote Friday on the merger with Chrysler, said net profit was 197 million euros, compared with 435 million euros in the same period last year.
DETROIT— Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers.
DETROIT, July 30- South Korean automaker Hyundai Motor Co will recall about 883,000 Sonata mid-sized sedans in the United States and Puerto Rico because a potentially defective transmission-shift cable could increase the risk of a crash. Hyundai officials could not immediately be reached for comment.
DETROIT— The four-door Mini Cooper Countryman was the only one of 12 cars to earn a top rating of "good" in new frontal crash tests. The Nissan Leaf, Nissan Juke, Fiat 500 L and Mazda5 wagon all fared worst in the tests performed by the Insurance Institute for Highway Safety, an Arlington, Va.- based safety group that's funded by insurers.
DETROIT— A trial to determine if Detroit gets out of bankruptcy has been delayed by a week to Aug. 21. The trial was first scheduled for July, a year after Detroit filed for protection under Chapter 9.. Detroit's plan to erase or greatly reduce $18 billion in debt has been approved by many creditors, including thousands of retirees.
July 29- Detroit has been making progress in settling disputes with its public safety unions, a development that has put the brakes on several appeals in federal court of a ruling that the city was eligible for municipal bankruptcy, attorneys said on Tuesday.
DETROIT— Ally Financial Inc. on Tuesday reported a second-quarter profit after posting a loss in the same period a year ago as more people deposited money into its bank and demand for auto loans increased.