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Top News & Analysis Detroit

  • MILAN/ LONDON, July 21- Sergio Marchionne bowed out on Saturday as one of the auto industry's most demanding and tenacious chief executives, his health in crisis after a career in which he rescued Fiat and Chrysler, two of its most storied brands. Fourteen years after he first took the wheel of Fiat, the gruff 66- year-old was replaced as boss of the Fiat Chrysler...

  • WASHINGTON, July 21- Fiat Chrysler Automobiles NV's new chief executive Mike Manley, who has overseen the effort to turn Jeep into a global brand, now plans to carry out the parent company's strategy unveiled last month, the company said Saturday. "The success of the Jeep brand under Mike Manley and his global background make him the smart choice to be the new head of...

  • *Boards meet to discuss successors- sources. MILAN/ PARIS, July 21- Fiat Chrysler boss Sergio Marchionne is to be replaced permanently at the helm of the global carmaker as well as Ferrari, after suffering serious complications from surgery, people with knowledge of the matter said on Saturday. The boards of FCA, Ferrari and CNH Industrial, the truck and tractor...

  • The shares of the Detroit Three automakers have been drifting down as Trump has escalated trade threats against China and Europe. So far, in a bid to reduce America's trade deficit with China and protect U.S. industries, Trump has imposed tariffs on steel and aluminum imports, and on a range of Chinese goods including Chinese-made vehicles, starting July 6.

  • The U.S. National Highway Traffic Safety Administration says in documents posted on its website Friday that it has 40 complaints from consumers about stalling, including two alleging that the engines caught fire. In one of the complaints involving a fire, an Escape owner in Dozier, Alabama, reported that on June 6, the engine stalled while being driven, and the SUV...

  • DETROIT— Hundreds of miles of Great Lakes shoreline would be spoiled under a worst-case scenario oil spill in Michigan's Straits of Mackinac, scientists reported Thursday. The cost of a doomsday spill could be as high as $1.8 billion, including $500 million in cleanup and $678 million in lost tourism revenue in Wisconsin and Michigan, experts said.

  • The company is shifting XC60 SUV production for the U.S. market to Europe from China to avoid Washington's new duties on Chinese imports, Samuelsson said in an interview after unveiling a 29 percent increase in second-quarter operating profit. Volvo, whose Chinese parent Geely is weighing up a stock market listing for the company, currently builds the compact...

  • PARIS/ STOCKHOLM, July 19- Volvo Cars, whose Chinese parent Geely is considering an IPO of the Swedish carmaker, said it was on track for another sales record despite rising trade tensions, after second-quarter profit rose on strong demand for its SUVs. Pledging on Thursday to hit a fifth record in 2018, Chief Executive Hakan Samuelsson said the first-half...

  • WASHINGTON, July 18- A government audit released on Wednesday faulted the National Highway Traffic Safety Administration's oversight of auto safety recalls and said its "delayed action" may have delayed the expansion of a record-setting callback of millions of vehicles for Takata air bag inflators. The U.S. Transportation Department's Office of Inspector...

  • A report by the Transportation Department's Inspector General also found that the National Highway Traffic Safety Administration process for monitoring car and truck recalls isn't adequate. Bill Nelson of Florida, the ranking Democrat on a committee that oversees NHTSA, said the report is cause for the Senate not to confirm Deputy Administrator Heidi...

  • WASHINGTON— Having started a trade war with China and enraged U.S. allies with steel tariffs, President Donald Trump is primed for his next fight. In announcing the auto investigation in May, Commerce Secretary Wilbur Ross had said, "There is evidence that, for decades, imports from abroad have eroded our domestic auto industry." And even considering the...

  • DETROIT— An insurance company refused to pay $300,000 in a head-on crash that killed a Michigan man and his mother after a doctor came up with a key conclusion: Robert Krugman likely drifted out of his lane because of a heart attack. But it ruled in favor of Reliance Standard Life Insurance Co. because Krugman's insurance policy through his employer said no money...

  • DETROIT— In March of 2016, Keith Reynolds flew from California to Atlanta so he could claim his spot in line at 4 a.m., and get a three-hour head start on his West Coast competitors. Tesla was taking $1,000 deposits for its new electric car, the Model 3, priced starting at $35,000. Then it drops to $3,750 for six months and $1,875 for another six months before ending...

  • DETROIT— Ford is recalling about 550,000 cars and SUVs in North America to fix a gearshift problem that could cause the vehicles to roll away unexpectedly. The recall covers certain 2013 through 2016 Fusion sedans and some 2013 and 2014 Escape small SUVs. Owners will be notified by July 30.

  • DETROIT— Marriott International plans to remove plastic straws and drink stirrers from all of its 6,500 hotels and resorts worldwide by next year. Starbucks and American Airlines announced plans to eliminate plastic straws last week. Hilton Hotels and Hyatt Hotels Corp. have also said they plan to stop using plastic straws by the end of this year.

  • DETROIT, July 17- The Tesla Inc Model 3 sedan is the most profitable electric car in the automotive industry, according to the head of a top automotive consultant. Sandy Munro, president of Michigan- based Munro& Associates, said the car generates net profit margins in excess of 30 percent. Tesla, whose shares were up 1.7 percent at $315.42 in Tuesday morning trading...

  • DETROIT— Ford has agreed to spend up to $299 million to settle lawsuits filed by owners of about six million vehicles with potentially deadly Takata air bag inflators. The agreement announced Monday must get court approval. Under the deal, owners are eligible for reimbursement of up to $500 for documented expenses.

  • DETROIT— Most U.S. business economists expect corporate sales to grow over the next three months and hiring and pay to rise with them. But a majority of the economists surveyed by the National Association for Business Economics say the corporate tax cuts that the Trump administration pushed through Congress have yet to affect their plans for hiring or...

  • DETROIT— It's been five years since Detroit bottomed out after decades of decline, admitting in the largest U.S. municipal bankruptcy filing ever that the country's one-time industrial engine could no longer pay its bills. Jean Estell, 65, worked about three decades in Detroit's recreation and public works departments before retiring in 2004.

  • DETROIT— The U.S. government's road safety agency is urging automakers to speed up replacement of potentially dangerous Takata air bag inflators. The National Highway Traffic Safety Administration said in a statement Friday that Heidi King, it's top official, has met with 19 affected companies urging them to accelerate the recalls and to post recall plans on...