Senator Claire McCaskill has introduced a bill that would call for stiffer penalties for auto executives and companies that delay recalls.» Read More
BEIJING— Sixty-five people were killed and dozens seriously burned Saturday by an explosion at an eastern Chinese automotive parts factory that says it supplies General Motors, state media reported.
DETROIT— The government and General Motors are warning vehicle owners that GM's recall Web site may not be listing all the cars that need recall repairs.
WASHINGTON— A sixth straight month of solid 200,000- plus job growth in July reinforced growing evidence that the U.S. economy is accelerating after five years of sluggish expansion. WASHINGTON— U.S. consumer spending rose at the fastest pace in three months in June, providing momentum for the economy going into the second half of the year.
Among the major automakers, only Ford Motor Co and Toyota Motor Corp beat analysts' estimates. Honda Motor Co said July sales tumbled 8 percent to 135,908. It was the only one of the top car companies to cut incentives from June to July, with per-vehicle discounts averaging $1,754, according to research firm J.D. Power.
Business News at 5 p.m.. The supervisor is Richard Jacobsen. —Updates: ITALY- FIAT-CHRYSLER, SALMONELLA OUTBREAK-TRIAL, YAHOO-LIVE NATION-CONCERTS, ALLERGEN-VALEANT LAWSUIT, FINANCIAL MARKETS, AUTO SALES.
Ford Motor Co. fell$. 22 or 1.3 percent, to $16.80. General Motors Co. fell$. 32 or. 9 percent, to $33.50. Honda Motor Co. fell$. 26 or. 7 percent, to $34.62.
Mobileye's shares jumped as much as 58 percent to a high of $39.40 on the New York Stock Exchange, valuing the Israeli company at about $8.4 billion. Mobileye's technology is already used in more than three million vehicles made by BMW AG, General Motors Co and electric car maker Tesla Motors Inc, among others.
Ford Motor Co. rose$. 09 or. 5 percent, to $17.11. General Motors Co. rose$. 13 or. 4 percent, to $33.95. Toyota Motor Corp. fell$. 11 or. 1 percent, to $117.88.
*Vote seals politically sensitive move of HQ from Italy. TURIN, Italy, Aug 1- Fiat shareholders approved the Italian carmaker's merger with its U.S. unit Chrysler on Friday, paving the way for a U.S. listing which the world's seventh-biggest auto group hopes will help fund an ambitious turnaround plan.
DETROIT— General Motors says its U.S. sales rose 9.4 percent last month, making it the best July since 2007.. The increase was led by redesigned truck-based SUVs and came despite GM's recall crisis that began in February. Sales of the redesigned Cadillac Escalade SUV more than doubled while Chevrolet Tahoe sales rose 52 percent.
Toyota, Ford, Nissan and Chrysler all saw double-digit sales gains. Of major automakers, only Honda and Volkswagen saw declines. Toprak said Ford, Toyota, Volkswagen and Hyundai were the most generous; GM and Honda spent less.
DETROIT, Aug 1- U.S. auto sales growth slowed a bit in July, with healthy gains from some manufacturers falling short of expectations, according to early returns from the major carmakers on Friday. Ford Motor Co reported a gain of 10 percent to 212,236 vehicles, slightly beating the analysts' average estimate of 9 percent.
DETROIT— Hyundai is recalling more than 419,000 cars and SUVs to fix suspension, brake and oil leak problems. States affected are Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia and Wisconsin.
CNBC's Phil LeBeau reports on solid July auto sales.
DETROIT, Aug 1- U.S. auto sales look set to show healthy gains for July, but not as much as expected, according to early returns from the major carmakers on Friday.
A sixth straight month of solid 200,000- plus US job growth is expected for July Scientific Games strikes $3.3- billion cash deal to buy slot machine maker Bally Technologies World stocks extend slump on Wall Street sell-off; China factory data fails to allay fears Leery of recall impact, General Motors boosted June sales with late-month discounts to dealers Chrysler US sales up 20 percent in July, best performance for the month in 9 years Harley-Davidson recalls motorcycles to fix vibrations that can cause engines to stall Procter& Gamble 4 Q profit climbs, helped in part by lower expenses US consumer spending expected to show gain in June, helped by auto sales US manufacturing likely expanded again in July US construction spending expected to show slight acceleration in June
DETROIT— Ignition switch problems that have plagued General Motors and Chrysler have now turned up in the motorcycle business. Harley-Davidson is recalling more than 4,500 FXDL Dyna Low Rider bikes worldwide because engine vibration can turn the switches from "on" to "accessory."
AUBURN HILLS, Mich.— Chrysler says its U.S. sales rose 20 percent in July from a year ago, its best performance for the month in nine years. The automaker said Friday that it sold 167,667 vehicles in the U.S. during the month compared with 140,102 in the prior-year period.
As General Motors tackles a safety crisis, 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."