April 16- General Motors Co said on Wednesday that it has set up a new fast-track ordering system to accelerate the shipment of parts needed to fix an ignition switch defect that has forced the automaker to recall 2.6 million of its compact cars.» Read More
DETROIT— General Motors has to repair another part on the 2.6 million small cars already being recalled for an ignition switch defect. GM on Thursday said it expects to take a charge of $1.3 billion in the first quarter, up from an earlier estimate of $750 million.
General Motors is announcing it's widening the Q1 charge it will take to repair its recalled vehicles, reports CNBC's Phil LeBeau. The company will also be adding an ignition lock to all of the recalled vehicles.
GM will take a $1.3 billion charge against first quarter profit, stemming from the massive vehicle recall that has battered GM for weeks.
April 10- German carmaker BMW said it would voluntarily recall more than 156,000 vehicles in the United States, including its popular 3 Series compact sedan, to check for potentially defective bolts that could lead to engine damage.
April 10- German carmaker BMW said it has informed the U.S. National Highway Traffic Safety Administration that it intended to voluntarily recall about 156,137 vehicles in the country.
DETROIT— General Motors has suspended two engineers in the first disciplinary action stemming from its mishandled recall of more than 2 million small cars for a deadly ignition switch problem. But the company also said a second ignition part in the cars must be fixed, boosting first-quarter recall costs above $1 billion.
General Motors has placed two engineers on leave related to the ignition switch recall, reports CNBC's Becky Quick.
GM put two engineers on paid leave on Thursday, as an attorney investigates why the company took more than 10 years to recall millions of cars.
Koji Endo, Managing Director at Advanced Research, estimates the impact of Toyota's recall to be around 50 to 60 billion yen, which is small compared to the firm's expected income.
Jason Moser, Senior Analyst at The Motley Fool, calls Toyota Motor's latest recall "preemptive" and says it could prompt automakers to be more proactive in the future.
*Toyota gives no cost estimate for recall. Toyota, the world's biggest automaker said, it was not aware of any crashes or injuries caused by the glitches, which were found in 27 Toyota models including the RAV4 and Yaris subcompact.
Toyota Motor Corp. said Wednesday it's recalling 6.39 million vehicles globally for various safety defects. Vehicles were made between June 2004 and December 2010. PLACES SOLD: Mostly North America, but also Japan, China, Europe, India and elsewhere.
Toyota announced it's recalling 6.76 million vehicles for a variety of problems spanning 30 different car models, reports CNBC's Phil LeBeau.
GM is getting fined $7,000 every day for not providing enough answers about its ignition switch recall. The "Squawk on the Street" news team discusses the stock value of the automaker.
*Toyota gives no cost estimate for recall. TOKYO, April 9- Toyota Motor Corp said on Wednesday it would recall 6.39 million vehicles globally for faults affecting various parts ranging from steering to seats in the company's second-largest recall to date.
DETROIT— Big U.S. recalls by General Motors and Toyota have put the auto industry on a record pace as companies try to avoid bad publicity and punishment from an increasingly aggressive government. On Wednesday, Toyota announced it was recalling nearly 1.8 million vehicles in the U.S. to fix a spate of problems, including air bags that might not inflate.
WASHINGTON, April 8- The National Highway Traffic Safety Administration said on Tuesday it was fining General Motors $7,000 a day for missing an April 3 deadline to respond to the U.S. agency's request for information about the automaker's recall of 2.6 million cars for defective ignition switches.
GENERAL MOTORS CO SAYS IT HAS "FULLY COOPERATED" WITH U.S.
SAFETY REGULATOR SAYS GENERAL MOTORS IN VIOLATION OF ITS ORDER TO FULLY ANSWER 107 QUESTIONS ABOUT ITS RECALL OF CARS.
Ford is recalling nearly 435,000 cars to fix rusting frame parts or faulty seats.