Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – Even if you prefer Ford, BMW, Mercedes or Volkswagen, if you are an American taxpayer, you are cheering the news. General Motors, one-third of whose shares are owned by U.S. taxpayers, sold 9,025,942 vehicles in 2011, up 7.6 percent from 2010. The number was good enough to place GM on top as the world’s largest automaker. GM beat out Volkswagen, which sold just over 8 million cars in 2011. Toyota, which took the top spot from GM in 2009, has yet to report figures, but its production was severely hampered by the tsunami in Japan and the massive floods in Thailand. Even more impressive, and better, is that General Motors is now making money and showing a profit, unlike in years when GM reigned [...] Continue Reading…
GM back on top as world’s biggest automaker
January 20th, 2012 
admin Honda widens recall for airbag problem
December 6th, 2011 admin Linda Young – AHN News Writer
Torrence, CA, United States (AHN) – Japanese automaker Honda has expanded its previously announced recall of vehicles with dangerous air bags to include almost 900,000 vehicles. The recall affects only vehicles sold in the United States and includes model years 2001 to 2003 of the affected cars. The recalled vehicles now include certain 2001 and 2002 Accord, 2001 to 2003 Civic, 2001 to 2003 Odyssey, 2002 and 2003 CR-V, 2003 Pilot, 2002 and 2003 Acura 3.2 TL and 2003 Acura 3.2 CL models, Honda officials said in a statement. Honda first said the driver’s airbag inflator needed to be replaced because it had a risk of deploying with too much pressure and could rupture, which might result in injuries or death. The company will begin sending out official notices to [...] Continue Reading…
GM CEO: Earnings good, but not good enough
November 21st, 2011 admin Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – General Motors reported better than expected earnings in the third quarter on Wednesday, but CEO Dan Akerson said the quarter “isn’t good enough,” a signal that more cost cutting lies ahead. GM, the U.S.’s largest automaker, earned $1.7 billion, or $1.03 a share in the third quarter, down from $2 billion earned in the last full period before its initial public offering. While better than analysts’ estimates of 96 cents a share, Akerson said in the company’s earning statement Wednesday “Solid isn’t good enough, even in a tough global economy.” The company did not give specific guidance on net income in the fourth quarter or lay out any specific measures to improve margins. The lack of fourth quarter guidance, and the sinking Dow, [...] Continue Reading…
Chinese companies buying automaker Saab
November 6th, 2011 admin Linda Young – AHN News Writer
Stockholm, Sweden (AHN) – Struggling automotive icon Saab will change hands again in a proposed deal to save it from bankruptcy by selling it to two Chinese companies. Swedish Automotive will sell its Saab unit to Chinese distributor Pang Da Automobile Trade and auto manufacturer Zhejiang Youngman Lotus Automobile. The two will pay a mere $142 million for the 62-year old auto manufacturer. General Motors sold Saab to Swedish Automotive only 2 years ago as part of GM’s restructuring to avoid bankruptcy itself. Since that sale, Saab has had extreme economic woes that it has not manufactured a car since April and it has been in court trying to avoid bankruptcy. China has become the world’s largest market for automobiles. Chinese automakers bought another iconic struggling automaker last year, [...] Continue Reading…
UAW ratifies deal with Ford
October 22nd, 2011 admin Linda Young – AHN News Writer
Detroit, MI, United States (AHN) – United Auto Workers approved a new four-year labor agreement with Ford Motor, UAW officials announced on Wednesday. As recently as this weekend, 53 percent of the 41,000 Ford UAW rank and file members were voting no to the contract. However, that changed when the locals voted. The final tally was 63 percent of production workers and 65 percent of skilled-trades workers voting yes to the deal. UAW President Bob King had urged the members to approve the deal, saying they could not expect anything any better. Moreover, he said it was important to approve the deal because it brought jobs back to the United States that currently are held by nonunion labor in Mexico and overseas. Ford is the most profitable automaker in the [...] Continue Reading…
Ford, United Auto Workers reach tentative contract
October 7th, 2011 admin Kris Alingod – AHN News Contributor
Detroit, MI, United States (AHN) – Ford has reached a tentative labor contract with union workers in more than two dozen plants nationwide. The agreement with the United Auto Workers, which still requires ratification from members, will add 12,000 new jobs in the company’s facilities, 5,750 more than what Ford previously committed to the union. The additional jobs includes positions in China, Japan and Mexico that Ford will bring back into the United States. The UAW was also able to raise entry-level wages to $19.28 over the term of the contract, which will end in 2015. In addition, the union won a $6,000 settlement bonus for workers with a year or more of seniority, and $5,000 for those with less than a year. John Fleming, Ford’s executive vice president for [...] Continue Reading…
GM enters electric car joint venture with Chinese automaker
September 22nd, 2011 admin Vittorio Hernandez – AHN News
Detroit, MI, United States (AHN) – General Motors announced on Tuesday that it has entered into a joint venture with a Chinese automaker to develop electric cars. The deal also involves transfer of battery and other electric vehicle technology. The 50-50 joint venture is between GM and Shanghai Automotive Industry Corp., the largest vehicle manufacturing company in China. The combined firm, Pan Asia Technical Automotive Center, is based in Shanghai and has already helped develop the Buick LaCrosse eAssist model now being sold in both countries. China is a growing market for new cars because of the rapid pace of the country’s economy, which provides the Chinese people with money to purchase vehicles. The Chinese government is encouraging the entry of electric cars and other vehicles run on new energy and even offers [...] Continue Reading…
Honda recalls million cars worldwide
September 7th, 2011 admin Jupiter Kalambakal – AHN News Reporter
Tokyo, Japan (AHN) – Japanese automaker Honda Motor Co. is set to voluntarily recall close to a million car models to repair troubles with power windows and computer equipment. The global recall will be done in two categories. Some 936,000 units of the Fit subcompact, CR-V crossover and Fit Aria in North America, Asia, Europe and Africa are part of the first category. The Fit is called Jazz in some overseas markets, while the Fit Aria is also known as City. The second category, meanwhile, will involve 26,000 CR-Z compact hybrid models in Japan, the United States, Canada and other markets. Both overseas recalls will cost the Japanese carmaker $16.8 million. In a statement, Honda said the recalls are necessary to fix programming problems with the engine control unit, as [...] Continue Reading…
General Motors to manufacture plug-in Cadillac ELR plug-in hybrid electric car
August 23rd, 2011 admin Vittorio Hernandez – AHN News
Detroit, MI, United States (AHN) – General Motors announced on Wednesday that it will manufacture a plug-in hybrid Cadillac. The new environment-friendly model would use technology similar to GM’s Chevrolet Volt, which the company rolled out in 2010. Reports said that the ELR’s tag price would be lower than Tesla Motor’s Model S’s $57,400. GM’s 2012 Volt has a $39,995 price tag, which includes shipping. The model would run 25 miles or more between recharges, but would also have a backup gas motor for longer travels. It will feature a T-shaped lithium ion battery, electric motors and four-cylinder engine generator. Ed Welburn, GM design chief, said the plug-in Cadillac will have the name ELR, which indicates the vehicle’s electric propulsion technology and to keep with the brand’s three-letter international model naming [...] Continue Reading…
GM earnings soar 92 percent on global sales
August 8th, 2011 admin Linda Young – AHN News Writer
Detroit, MI, United States (AHN) – General Motors saw its second quarter earnings surge by 92 percent compared to the same period a year earlier. It earned $2.5 billion compared to the $1.3 billion GM earned a year earlier. The nation’s No. 1 automaker had revenue of $39.4 billion, up by 19 percent on improved average pricing and numbers of vehicles sold. Only two years out of a federal bailout, most of GM’s growth came from U.S. sales, which increased by 11 percent to 669,000 vehicles sold while company-wide growth increased by 7 percent overall to 2.3 million vehicles sold worldwide. For the first time in years, GM made money in each of its four regions. GM (GM, Fortune 500) posted a profit of $2.5 billion, or $1.54 [...] Continue Reading…