General Motors Recalling 15,000 Buick LaCrosse, Chevy Impala

- General Motors Recalling 15,000 Buick LaCrosse, Chevy Impala



Aug 12, 2011

The Detroit News reported that General Motors (NYSE:GM) is set to recall about 15,000 new Buick LaCrosse and Chevy Impala models in North America.

The recalls will reprogram software in some LaCrosse vehicles and inspect power steering hoses in Impalas.

General Motors (NYSE:GM) has a potential upside of 64.4% based on a current price of $26.3 and an average consensus analyst price target of $43.25.

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GM Plans To Halve The Number Of Vehicle Frames

- GM Plans To Halve The Number Of Vehicle Frames



Aug 9, 2011

General Motors (NYSE:GM) plans to be leaner in the future by halving the number of car and truck frames its uses worldwide.

The company also says it plans to increase factory capacity 45% in Brazil, Russia, India and China by 2014 to take advantage of growth.

GM made the statements Tuesday in slide presentations for its annual global business conference for industry analysts.

The slides say that GM built cars and trucks on 30 specific frames last year. That number would be cut to 14 by 2018, saving on engineering, design and manufacturing costs.

The company also plans to keep its investment in research and development steady, even when car sales are down. That will save money by terminating the practice of stopping and starting projects.

General Motors has a potential upside of 71.6% based on a current price of $25.21 and an average consensus analyst price target of $43.25.

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Chrysler and Dodge Recalls 300,00 Minivans

- Chrysler and Dodge Recalls 300,00 Minivans



Aug 5, 2011

Chrysler has recalled just under 300,000 2008 Dodge Caravan, Chrysler Grand Voyager, and Chrysler Town and Country minivans due to air bags that inadvertently deploy, according to Consumer Reports.

The car company announced the leak in the air conditioning and heating system may cause the occupant restraint control module to fail, which could lead to an air bag deployment without warning or illumination of the air bag warning light.

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Ford to Invest $1 billion In Second Car Plant in India

- Ford to Invest $1 billion In Second Car Plant in India



Jul 27, 2011

Ford is planning to build a second car plant in India. According to a person briefed in the matter, Ford will invest $1 billion in the plant that will employ 5,000 people and begin producing cars in 2014.

The company said in the e-mailed reply to questions, "Ford continues to pursue an aggressive growth strategy in India to bring world class vehicles. As part of its plan to introduce eight new products by the middle of the decade Ford is significantly expanding its capacities in its existing facility in Tamil Nadu as well as exploring other options to meet the growing demand of consumers in India and export markets across the world."

Ford Motor (NYSE:F) has a potential upside of 59.3% based on a current price of $12.35 and an average consensus analyst price target of $19.67.

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Ford Increases Availability of Fuel-Efficient Tires Across Lineup

- Ford Increases Availability of Fuel-Efficient Tires Across Lineup



Jul 11, 2011

New fuel efficient, low resistance tires developed by Ford (NYSE:F) are expected to advance fuel economy by up to 2 mpg and are likely to be featured in Ford's up and coming C-Max Energi, C-Max Hybrid and the Focus Electric Cars.

David Rohweder, Ford's Global Chief Engineer for tire and wheel engineering said, "Tire technology, pressures and wear can make a big difference to a vehicle's fuel economy, so the company is working closely with leading tire companies to optimize performance with low-rolling-resistance tires." Ford Motor (NYSE:F) has a potential upside of 46.1% based on a current price of $13.5 and an average consensus analyst price target of $19.73.

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Toyota Motor Corporation Working On Truck Plant in Kenya

- Toyota Motor Corporation Working On Truck Plant in Kenya



Jul 5, 2011

Toyota Motor Corporation (NYSE:TM) announced it will establish a new truck assembly plant in Kenya.

As a part of the move, Japanese auto maker giant Toyota Motor Corporation is planning to acquire a 50 per cent stake in a local truck and bus assembly firm and then expand it with an investment of $35 million.

Toyota Motor Corporation made a move where they plan to acquire $0.50 per stake in a bus assembly and local truck assembly firm and increased with an addition of $35 million.

Denis Awori, the chairman of Toyota Motor Corporation in Kenya said, "Toyota Motor Corporation proposes to build the regional vehicle and parts centre in Nairobi and invest in the expansion of Associated Vehicle Assemblers to assemble Hino trucks and buses."

Shares of Toyota Motor are trading up 0.2% at $83.62.

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General Motors June Sales Improve 11% In The U.S.

- General Motors June Sales Improve 11% In The U.S.



Jul 1, 2011

General Motors (NYSE:GM) dealers in the United States reported 215,358 total sales in June, an 11% gain compared to June 2010. The company said the achievement was the result of continued solid retail demand for the company's wide selection of fuel-efficient vehicles. Retail sales for GM's brands rose 16% for the month, compared to a year ago, and were 4% higher than May

Don Johnson, vice president, U.S. Sales Operations said, "With continued strong consumer demand for GM's fuel-efficient vehicles, June was another solid month for us. The month caps a successful first half of 2011 for us in the U.S. market - our sales are up and we've gained share profitably."

During the first half of 2011, GM dealers in the United States detailed that 1,261,633 vehicles were sold.

General Motors (NYSE:GM) has a potential upside of 43.2% based on a current price of $30.4 and an average consensus analyst price target of $43.55.

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General Motors Says Cars Will Reach Highest Percent of Chevy Sales Since 1991

- General Motors Says Cars Will Reach Highest Percent of Chevy Sales Since 1991



Jun 30, 2011

General Motors (NYSE:GM) said Chevrolet's total sales are expected to increase 15% during the first half of 2011, driven primarily by cars, which are approaching their highest level of Chevy sales in 20 years.

Chevy car sales are projected to be up 23% for the first six months of the year when June sales are reported on Friday.

Truck utilities, and crossovers are expected to be up 9% over the first half of 2010.

Chevy cars have outsold sales of trucks, crossovers, and utilities in the months of April, May, and June this year, and are expected to represent 47% of total sales for the 6 month period. That's the most since 1991, when cars were 52% of all sales.

Alan Batey, U.S. vice president, Chevrolet Sales and Service said, "Chevrolet has always been known for building great trucks. Today, we are in the middle of transforming the brand with a strong lineup of cars that match the appeal of our trucks and crossovers.

Shares of General Motors are trading up 0.2% at $30.36.

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Nissan Targeting 10% Market Share in the U.S.

- Nissan Targeting 10% Market Share in the U.S.



Jun 23, 2011

Nissan Motor Co's (PINK:NSANY) CEO Carlos Ghosn said today that the company is aiming to increase its U.S. market share to 10%.

In its fiscal year ended this past March, the company recorded an 8% share of the American market, and in recent months its share has touched 9%.

Mr. Ghosn said in a meeting with journalists at the company's Yokohama headquarters that "It should not be a big stretch" to reach 10%.

He added that new models, the company's electric vehicles, and its strengthening sales network should help it meet that goal "in the first phase of the (six-year) plan" that will be outlined Monday.

Nissan and French company Renault are in talks to invest a combined stake worth more than 50% in the Russian auto company Avtovaz to boost sales in the expanding Russian market. The deal should be concluded "within this year."

The company also now sees less than 10 suppliers struggling to resume production following the disruptions caused by the March 11 earthquake. At the end of March, the company reported 40 troubled suppliers.

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Ford Hybrids Will Use Toshiba Inverters

- Ford Hybrids Will Use Toshiba Inverters



Jun 20, 2011

Toshiba Corp. said Monday that it has been selected to supply automotive inverters to Ford Motor Co.'s (NYSE:F) hybrid electric cars and plug-in hybrids.

The U.S. automaker looks to start mass production next year on the new hybrids, and Toshiba has a previously signed contract to supply motors for the vehicles.

Toshiba will now supply both the inverters and motors as a package to Ford. The production of the new engines and inverters for Ford will have Toshiba building a new production line. The new plant in central Japan will be capable of manufacturing 150,000 inverters a year.

The new line will be ready to start supplying the inverters in April. As electric and hybrid vehicles become more widespread, Toshiba believes that power electronics, like motors, inverters, and rechargeable batteries, is a promising field.

Mitsubishi Motors Corp had chosen Toshiba's rechargeable battery for two electric vehicle models that will be coming out later this year.

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Ford Spends $1 Billion On Lincoln

- Ford Spends $1 Billion On Lincoln



Jun 20, 2011

Ford Motor Co. (NYSE:F) is spending $1 billion to revamp the struggling Lincoln brand. Ford is developing a new generation of vehicles that will be introduced over the next four years.

The Wall Street Journal said Monday that the automaker is working on seven new and upgraded vehicles. Ford also hopes to reposition the Lincoln brand as a cross between BMW and Lexus vehicles. Ford's president of the Americas, Mark Fields, stated two weeks ago that the effort is the last chance to re-establish Lincoln as a leading competitor in luxury cars.

Lincoln sold 85,838 cars and light trucks in 2010. Ford Executives said sales are likely to fall to 78,000 this year. With the seven new models, sales are expected to lift to 162,000 in 2015.

Ford Motor has a potential upside of 55.9% based on a current price of $12.77 and an average consensus analyst price target of $19.91.

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Nissan Could Delay Start of U.S. Leaf Production

- Nissan Could Delay Start of U.S. Leaf Production



Jun 14, 2011

Nissan (PINK:NSANY) may be forced to delay the start of U.S. production of its Leaf electric car due to the disruption caused by March's earthquake in Japan, Hideaki Watanabe, VP in charge of Nissan's global Zero Emission Vehicle business unit, tells the Detroit News. The executive says many timetables have been thrown off by the March 11 quake, but adds that it is too early to estimate how long of a delay there may be for U.S. Leaf production.

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General Motors' CEO Rallying for Higher Gas Taxes

- General Motors' CEO Rallying for Higher Gas Taxes



Jun 7, 2011

General Motors (NYSE:GM) CEO Dan Akerson recently spoke about the need for the federal government to boost the gast tax by as much as $1 per gallon in order to push consumers toward more fuel efficient vehicles. Akerson also believes the government will get rid of its remaining 26% stake in the company in the next six to 12 months.

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Toyota Recalling 106,000 Prius 2001 - '03 Models to Replace Steering Wheel Nuts

- Toyota Recalling 106,000 Prius 2001 - '03 Models to Replace Steering Wheel Nuts



Jun 1, 2011

Toyota Motor (NYSE:TM) announced today that it is conducting a voluntary recall of 106,000 Toyota Prii made from 2001 to 2003 globally, to replace nuts that hold the steering wheel in place that may come loose.

According to the company's statement, "If the steering wheel is repeatedly and strongly turned to the full-lock position, there is a possibility the nuts securing the pinion shaft of the steering gear box assembly may become loose."

Toyota dealers will install improved nuts at no charge to the owner. Notification letters will begin being sent in early July 2011, and the repair will take approximately four hours, depending on the dealer's schedule.

The recall includes 52,000 vehicles sold in the United States from the 2001 - 2003 period.

Shares of Toyota Motor are trading down 0.7% at $82.71.

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GM to announce $2 billion in update and expansion plans

GM to announce $2 billion in update and expansion plans



May 10, 2011

USA Today is reporting that GM is expected to announce today it will spend more than $2 billion on plant updates and expansion in eight states. The plan will create more than 4,000 jobs.
About half the hires will be at Detroit-Hamtramck Assembly Center, where GM builds the Chevrolet Volt and is in the expected last year of building the Buick Lucerne and Cadillac DTS sedans. It will be revamped later in the year to start building the 2013 Malibu.

The report says that CEO Dan Akerson will reveal the plans today at GM's Toledo, Ohio, transmission factory, which is where GM will spend about $250 million and add 250 jobs.

Hiring is expected to start this year and run through 2013, according to USA Today.

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Chrysler Posts First Quarterly Profit In Nearly 5 Years

Chrysler Posts First Quarterly Profit In Nearly 5 Years



May 3, 2011

Chrysler Group reported its first quarterly profit since the second quarter of 2006 on Monday, posting earnings of $116 million in the first quarter of 2011, compared to a loss of $197 million in the year ago period.

Revenue surged 35% year-over-year to $13.1 billion, as both sales volume and pricing improved. The company sold 18% more vehicles globally in the quarter.

Chrysler is still a privately held company; the U.S. government owns 9%, Italian car company Fiat owns 30%, and the United Auto Workers trust fund ownsthe majority.

The company plans to offer shares to the public late in 2011 or early in 2012, with Fiat expecting to own a 51% share by then, as part of a structured plan for Chrysler to pay back government loans and get back on its feet.

Chrysler announced plans last week to repay $5.8 billion in loans to the U.S. Treasury Department and another $1.7 billion to the Canadian government, which also pitched in to help the company as part of the 2009 bailout.

Sergio Marchionne, Chief Executive Officer, Chrysler Group LLC said, "Chrysler Group's improved sales and financial performance in the first quarter show that our rejuvenated product lineup is gaining momentum in the marketplace and resonating with customers. These results are a testament to the hard work and dedication of our employees, suppliers and dealers, all of whom are helping Chrysler create a new corporate culture built on the quality of our products and processes, and simple, sound management principles."

Marchionne added that the company is on pace to hit its worldwide sales target of 2 million vehicles for 2011, including 1.4 million in the U.S., despite

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Nissan Leaf wins World Car of the Year

Nissan Leaf wins World Car of the Year



Apr 21, 2011

The World Car Awards has a new winner. The Nissan Leaf takes home the top honor as the 2011 World Car of the Year at the The New York auto show. The electric car beat out it's two top competitors: the Audi A8 and BMW 5-series and was also runner up for the World Green Award. That top honor however was given to the Chevy Volt. Those judging the World Car Awards said that the Nissan Leaf is the gateway to a brave new electric world with it's zero emissions and car-like performance for just under $35,000.

Ford Taking Test Fleet of Electric Vehicles to China Later this Year

Ford Taking Test Fleet of Electric Vehicles to China Later this Year



Apr 18, 2011

Ford Motor Co. (F) said on Monday it is taking a test fleet of electrified vehicles to China later this year, including the Fusion hybrid.

On the eve of the Shanghai auto show, the car maker unveiled three electric vehicles: the new Focus all-electric vehicle, the C-MAX Energi plug-in hybrid, and the Fusion hybrid.

Joe Hinrichs, head of Ford's Asia-Pacific and African operations, said in a statement, "With China aiming to go green on the road with new-energy vehicles, the country is the perfect platform to showcase Ford's advanced technologies in the electrification plan."

General Motors Invests $100 Million to Add 30 Jobs in Rochester, N.Y.

General Motors Invests $100 Million to Add 30 Jobs in Rochester, N.Y.



General Motors (GM) announced Tuesday that it will invest $100 million towards more jobs and automotive components. The auto giant said it plans to add 30 jobs and purchase tooling and equipment for its GM Components Holdings Rochester Operation.

This would enable the facility to produce a new generation of fuel-efficient small block car and truck engines. The new jobs will be added to an existing workforce of 826 hourly and salaried employees at the Rochester facility.

GM's total investment in its new small block engine is now approximately $1.1 billion, creating or retaining more than 2,400 jobs. As far as where GM is sitting in the market, shares are up 0.19% to $30.83.

Ford says Asia-Pacific operations may have to stop production

Ford says Asia-Pacific operations may have to stop production



Due to parts shortages from Japan, Ford (F) says its operations in the Asia-Pacific region may have to slow or stop production later this month. The automaker, which has 13 plants in the Asia-Pacific region, has temporarily halted operations in the U.S. and Europe because of shortages.

The company expects its operations will be affected beginning the last week of April into May. Ford said in an SEC filing, "We continue to assess the impact of the earthquake and resulting events in Japan on our Automotive operations.

Although we have no production facilities in Japan, we do obtain materials and components from suppliers located in Japan, and we are working closely with those suppliers to assess their production and shipping capabilities and to minimize any disruptions.

We also are pursuing other sources of supply as necessary and practicable...Because the situation in Japan continues to develop, supply interruptions related to other materials and components from Japan could manifest themselves in the weeks ahead.

Should the supply of a key material or component from Japan be disrupted and an alternate supply not be available, we could have to reduce or temporarily cease production of vehicles, which could adversely affect our and Ford Motor Credit Company's financial condition and results of operations."