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  • The average term for a first-quarter new-vehicle loan was 67 months and for used vehicles, 62 months, Experian said. Experian found that in the first quarter, 29.5 percent of new-vehicle loans in the U.S. market were for term of 73 months to 84 months. "While longer term loans are growing, they do not necessarily represent an ominous sign for the market," said Melinda...

  • WYOMING, Mich.— General Motors Co. plans to invest $119 million in tools and equipment to support production of future vehicle components in western Michigan. The automaker said Monday that the plans for its Grand Rapids Operations in the Grand Rapids suburb of Wyoming will create about 300 jobs. The investment in the GM Components Holdings LLC plant is part of...

  • NEW YORK— Intel is buying chip designer Altera for about $16.7 billion in cash to expand its reach into new chip markets that are powering the wireless revolution, smarter cars and more. While Intel already works with Altera on the manufacturing of certain kinds of high-end chips, Intel CEO Brian Krzanich said that owning the company will allow Intel to fully...

  • DETROIT— General Motors and Subaru are adding vehicles to the growing list of models being recalled by 11 automakers due to potentially exploding air bags. The U.S. government's National Highway Traffic Safety Administration released the model information on Friday. The vehicles are equipped with air bag inflators made by Takata Corp. of Japan that can...

  • DETROIT, May 28- Three automakers on Thursday widened recalls of cars and trucks with Takata Corp air bags and the U.S. Congress set a hearing next week on the safety issue that has been linked to six deaths. Takata last week complied with demands of U.S. safety regulators and doubled the vehicles to be involved in air bag recalls to 34 million, making it the largest...

  • TOKYO, May 28- Honda Motor Co called back about 690,000 cars in Japan and the United States to replace air bag inflators made by Takata Corp after the Tokyo- based parts supplier last week agreed to comply with U.S. orders to expand some of its previous recalls. Of the recalls announced on Thursday, about 350,000 are of vehicles registered in the United States and...

  • DETROIT, May 28- Fiat Chrysler Automobiles, Honda Motor Co and BMW on Thursday expanded recalls of vehicles with potentially deadly air bags made by Takata Corp, after the Japanese manufacturer last week boosted the number of vehicles affected to 53 million globally. The recalls announced on Thursday are part of that widened Takata recall.

  • Automakers, gov't reveal models in expanded Takata recall Thursday, 28 May 2015 | 10:46 AM ET

    DETROIT— Car owners are beginning to find out if their cars or trucks are included in a big expansion of a recall of air bags made by Takata Corp.. Automakers, as well as Canadian and U.S. safety regulators, are posting documents that spell out the vehicles being recalled to replace air bag inflators that can explode with too much force, spewing shrapnel into the...

  • MACKINAC ISLAND, Mich.— The federal judge who oversaw Detroit's historic bankruptcy case said Thursday he is "deeply concerned" about unfunded pension liabilities in other Michigan municipalities and they should consider transitioning to 401 retirement plans for employees. He said it is crucial that local governments make their pension plan...

  • May 28- Ford Motor Co said it would give other automakers access to its electrified vehicle technologies for a fee to accelerate research and development of such vehicles. Ford's offer comes nearly a year after a move by Tesla Motors Inc, the California electric car maker, to share its patents with other companies, though at no charge. At least four major...

  • BEIJING, May 28- Japan's Takata Corp, which for months resisted U.S. regulators' demands to widen a recall over its potentially lethal air bags, has had an "attitude shift" and is in a mood to compromise to try to resolve the ballooning auto safety crisis, said a person close to the company. "'There's no use or gain in fighting the regulators' is how one Takata management...

  • NEW YORK, May 27- JPMorgan Chase& Co officials have not done enough to show how well the company is run, Chairman and CEO Jamie Dimon said on Wednesday, after one-third of shareholders disapproved last week of his pay and the practice of one person holding his two jobs. At the company's annual meeting last week in Detroit, JPMorgan's compensation for top executives...

  • GM to offer Android, Apple systems in many 2016 models Wednesday, 27 May 2015 | 3:04 PM ET

    General Motors made the biggest move so far Wednesday, announcing that both systems will be available in seven 2016 Chevrolet models starting in the summer. Earlier in the week, Hyundai announced the Android system in the Sonata midsize car. People are familiar with smartphones and have music libraries, podcasts, social media contacts and other personal items...

  • DETROIT— Under pressure from U.S. safety regulators, Ford is recalling nearly 423,000 cars and SUVs in North America because the power-assisted steering can fail while they're being driven. The recall covers certain Ford Flex and Taurus vehicles, as well as the Lincoln MKS and MKT from the 2011 through 2013 model years. In October, the National Highway Traffic...

  • *Takata says confident new air bags are safe. DETROIT, May 26- Automakers and safety regulators could take months to nail down why air bag inflators made by Takata Corp are exploding with too much force, meaning consumers cannot be certain replacement inflators installed under a sweeping recall are safe, industry officials involved in the process said.

  • Hyundai is first to offer Android Auto system Tuesday, 26 May 2015 | 2:15 PM ET

    DETROIT— Hyundai is the first carmaker to offer Google's Android Auto system. Android Auto will soon be available on other Hyundai models. Hyundai says it expects to offer Apple's version of the system, CarPlay, sometime soon.

  • Bombardier Recreational Products Inc. of Canada agreed to recall nearly 7,100 Spyder RT motorcycles globally from the 2013 model year. It also agreed to re-notify owners of motorcycles from 2008 through 2012 that were recalled in 2012 for problems that could cause fires, according to documents posted Tuesday by the National Highway Traffic Safety...

  • LANSING, Mich.— Lawmakers on Tuesday accelerated efforts to finish the state budget, giving initial approval to much of a $55 billion plan that pumps more money into roads, gives a modest funding boost to universities and community colleges, and closes a juvenile justice facility. Negotiators continued to work on Michigan's two largest individual budgets:...

  • FORT WAYNE, Ind.— General Motors announced Tuesday it would spend $1.2 billion on new facilities and technology at an Indiana factory where it builds Chevrolet Silverado and GMC Sierra pickup trucks. No plans for additional jobs were announced as part of the Fort Wayne expansion, which is part of GM's plan to invest $5.4 billion at its U.S. plants over the next...

  • DETROIT— The death toll from faulty ignition switches in small cars made by General Motors has reached 107.. Victims' families are being offered compensation of at least $1 million each by attorney Kenneth Feinberg, who was hired by GM last year. GM paid $200 million to settle claims filed with Feinberg as of March 31.