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Toyota cuts profit forecast by half

Sun, 12/11/2011 - 14:57 by Sam Ross

Adversely affected by the worst Thailand floods, Toyota Motor Corp. has cut its annual profit forecast by 54 percent.

The Japanese automaker said that its net income will fall 56 percent to 180 billion yen in the curre

Daimler to drop Maybach line of luxury cars

Sat, 11/26/2011 - 18:46 by Yasser Ali

Daimler has decided to do away with its Maybach line of super-luxury cars by 2013.

President, others, exalt in GM's IPO

Fri, 11/19/2010 - 10:27 by Prince damin

New York -- President Barack Obama and market analysts praised U.S. automaker General Motor Co.'s return to public life Thursday.

"Two years ago this seemed impossible," Obama said, recalling GM's slide that coincided with the historic recession that officially began in December 2007 and hit bottom with the company's fall into bankruptcy in the summer of 2009.

The comeback was palpable when GM earned $2 billion in profits in the third quarter. On Thursday, GM jumped back into life as a publicly traded company, raising $15.8 billion in an initial public offering that began with a price of $33 per share, ending the day at $34.19 per share with a midday peak at $35.99, The Wall Street Journal reported.

SAIC, Chinese automaker, may invest in GM

Sat, 11/13/2010 - 13:04 by Anter Prakash Singh

China’s largest automaker, SAIC (Shanghai Automotive Industry Corporation), is considering investing in GM through its forthcoming IPO, ‘The Wall Street Journal’ has reported. SAIC and GM are already operating a highly successful joint venture in southern China.

GM workers, retirees urged to diversify

Thu, 10/14/2010 - 02:34 by Prince damin

Detroit -- A finance expert warned General Motors employees to diversify their stocks after the U.S. automaker offered them a chance to get in on its public debut.

\GM has not issued stock since emerging from bankruptcy last summer more than 60 percent owned by the U.S. government. GM recently offered its 79,000 U.S. employees, 9,000 Canadian employees and 517,000 retirees a chance to register for its initial public offering, which is expected to occur in November.

But experts warned the greater GM community not to get too carried away investing in the company they work for, the Detroit Free Press reported Wednesday.

Case in point: GM itself, which went bankrupt last year.

Tesla Motors recalls Roadsters

Sat, 10/09/2010 - 01:05 by Prince damin

Washington -- California nice automaker Tesla Motors Inc. announced it was recalling 439 Roadsters due to a fire hazard, regulators in Washington said.California

The National Highway Traffic Safety Administration said Tesla would recall 2010 model Roadster 2 and 2.5 vehicles with 12V auxiliary cables that may be improperly routed.

The cables, if routed incorrectly, could rub against a wheel cover, which would wear through the insulation and expose bare wire, leading to a short circuit or electrical arching.

The problem involves wiring in the area of the right headlamp, the NHTSA said.
Tesla said it would inspect the cars and install a protective plastic sleeve over wires that were incorrectly routed.

Summer classics signal a shift at GM

Fri, 07/30/2010 - 03:00 by Prince damin

Warren, Mich. -- Classic Camaros, Pontiac Trans Ams and Corvettes took center stage at General Motors Thursday, as a sign of recovery for the U.S. automaker.

GM reinstated an annual summer ritual of inviting workers to bring in their classic cars and put them on display at the Warren Tech Center in Warren, Mich., the Detroit Free Press reported.

The annual day of company pride was canceled a year ago, when GM was in the midst of a bankruptcy proceeding.

Employee and 1968 Chevy Chevelle owner Tom Hipple said, "We're as good as or better than the imports."

Porsche posts loss; raises forecast

Fri, 06/18/2010 - 17:33 by Jaspreet Virk

Porsche Automobil Holding SE, reported loss after tax of 0.7 billion euro, a figure better than expected. The loss has largely been triggered by deconsolidation of Volkswagen.

GM's faulty windshield wiper prompts 1.5mn vehicle recall

Wed, 06/09/2010 - 13:14 by Jaspreet Virk

It is not just Toyota Motor Corp. that is recalling vehicles due to safety concerns. Following the massive recall by the Japanese automaker, the Detroit based General Motors (GM) Tuesday announced that it is calling back 1.5 million vehicles globally.

Sticky accelerator pedal prompts Chrysler to recall Dodge Caliber

Sat, 06/05/2010 - 13:12 by Jamie Anderson

Citing sticky accelerator pedals, Chrysler Group LLC has recalled Dodge Calibers and Jeep Compass SUVs.

Buy Before It's Too Late

Mon, 05/31/2010 - 10:36 by Seth Jayson

When I first penned this article many months ago, it was occasioned by my regrets about not buying shares of a steel company I knew to be a value -- maybe even a steal. I'd done the research. I'd considered the odds. I thought the then-current share price vastly discounted the company.

Toyota to recall 11,500 Lexus LS models worldwide

Wed, 05/19/2010 - 15:27 by Jaspreet Virk

In yet another recall by the beleaguered Japanese automaker, Toyota Motor Corp. Wednesday said that it plans to call back around 11,500 Lexus LS model vehicles globally.