Ford Posts First Full-Year Profit Since 2005
For the first time since 2005, Ford has recorded a full-year profit with expectations of continued profitability this year in spite of the still problematic economy and the company's own heavy debt load.
Toyota Halts Production Vehicles with Sticking Accelerator
Just days after issuing a recall on 2.3 million of its vehicles suffering from a sticking accelerator, Toyota Motor Corp. announced on Tuesday, January 26, that it has halted sales and production on eight models of cars and trucks that combined account for 57% of its sales in the United States.
Fisker Raises Private Equity, Secures Federal Loans
Fisker Automotive has raised $115.3 million in private equity funds for the development of its plug-in hybrid, the Karma. These monies make it possible for the company to access an additional $528.7 million in federal loans administered by the U.S.
SmartUSA Announces National Leasing Incentive Program
Last year Smart USA , the maker of the tiny, trendy SmartForTwo, suffered a bad year like every other automaker with a 41 percent downturn in sales. Now the minicar's American distributor has a new president and has just announced a national lease incentive program.
Ford Focus Company's First Global Offering
The 2010 Ford Focus , introduced Monday, January 11, 2010 at the Detroit auto show, is the company's first truly global product, designed for consumers around the world and to be sold under the same name in Europe, Asia, and the Americas.
Small Cars Set to Dominate the Detroit Auto Show
The North American International Auto Show in Detroit, which opens Monday, January 11, 2010 and runs through the 24th, will respond to the economic recession and demands by consumers for more fuel efficient cars in a "small" way, showcasing products radically different from those of even one year ago.
Delinquencies on Auto Loans Fall in 3Q 2009
In yet another cautious sign or recovery for the ailing automotive industry, according to figures compiled by the American Bankers Association, auto loan delinquencies dropped for the third quarter of 2009.
Emerging Car Tech Worries Safety Advocates
With the annual Consumer Electronics Show underway in Las Vegas, a number of companies are displaying devices to bring the Internet into the dashboard of automobiles, raising serious concerns among safety advocates about the danger of distracted drivers.
THINK CITY: The 100% Electric, Zero-Emission Sensation!
Based in Oslo, innovative Norwegian automaker THINK is finalizing its plans for its US plant opening. On January 9, there will be a hearing of the Elkhart County Council in Goshen, Indiana for the purposes of granting a 10-year tax abatement plan for Think.