Nissan Leaf on Track for First Year Sales Goal
In an announcement issued on Thursday, April 30, 2010, Nissan Motor Co. said it has taken 8,000 reservations for its all-electric Leaf hatchback and expects to make money on the vehicle.
Ford Shows Best Quarterly Earnings in Six Years
On Tuesday, April 27, 2010, the Ford Motor Company reports its best quarterly numbers in six years with earnings of $2.1 billion and a prediction of a return to profitability later this year.
Obama Justifies Auto Bailout in Weekly Address
President Barack Obama, in his weekly radio and Web address on Sunday, April 25, 2010, said bailouts of the auto industry funded with taxpayer dollars have clearly refuted the conservative position against such government assistance efforts.
Nissan Leaf Pre-Orders Move Briskly
According to figures released by Nissan on April 23, 2010, some 6,635 customers have placed reservations to purchase the company's all-electric Leaf during the first three days of its online availability.
Chrysler Posts 1Q Profit
The Chrysler Group posted a $143 million operating profit for the first three months of 2010 aided by a program to cut costs and by the introduction of a new pickup.
Toyota Agrees to $16.4 Million Fine
According to a report by Bloomberg, Toyota Motor Corp. has agreed to pay a record-setting $16.4 million fine assessed by the U.S. Transportation Department for failure to disclose, in a timely fashion, a pedal defect resulting in unintended accelerations.
NHTSA to Test 2010 Lexus GX 460 for Stability Control Issue
With Consumer Reports issuing a public warning against the purchase of the 2010 Lexus GX 460 as a "safety risk," the National Highway Traffic Safety Administration will run safety tests on the model to determine if it meets government standards.
Ford to Expand Use of EcoBoost Engines
By the end of the year, Ford will add three engines to its available line-up, expanding its use of EcoBoost, a fuel-saving technology combining direct fuel injection, variable cam timing, and turbocharging to reduce both consumption and emissions.
Ford to Boost Overseas Investments
The Ford Motor Co. returned a profit in 2009 for the first time since 2005, allowing the company to invest larger resources in growing markets in South America and South Africa where it hopes to become competitive with General Motors and Toyota.
GM Retains Hope of Profits Even with $4.3 Billion Loss
During the second half of 2009, General Motors lost $4.3 billion, however, it its most thorough accounting disclosed since last year's government rescued bankruptcy, the company maintains that it could turn a profit in 2010.
Toyota Extends Incentives and Benefits
In the wake of record recalls and a $16 million fine from the Department of Transportation for failure to disclose defective pedals, Toyota is extending no-interest loans, discount leases, and free maintenance programs in an effort to hang on to its recent sales gains.
GM's Lutz Says Toyota Will Not Regain Iconic Status
In an interview at the New York auto show, GM Vice Chairman Bob Lutz, 78, who will retire May 1, said General Motors is on the verge of re-gaining its momentum as Toyota's once unassailable reputation has been damaged by 8 million vehicles recalled for safety issues.
Auto Industry Sales Up 24 Percent
March proved to be a strong month of improvement for the auto industry, as aggressive incentive programs paired with renewed consumer confidence saw both Toyota Motor Corp.