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News watch October 2012: today's industry news
Wed, 31 Oct 2012Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.
Honda issues recall due to braking problem
Thu, 14 Mar 2013Honda is recalling more than 180,000 vehicles in the U.S. due to a potential vehicle stability assist problem that could cause the system to apply a small amount of brake without any input from the driver. According to Honda, an electrical capacitor on the VSA control unit could have been damaged during the manufacturing process, causing the braking problem.
VW pushes upmarket: the new Passat and lessons learned by the Phaeton
Mon, 07 Jul 2014By John Mahoney Motoring Issues 07 July 2014 08:02 Logically, it makes perfect sense to push the new 2015 VW Passat upmarket far away from the declining, mass-market D-segment it used to inhabit. After all, how can Volkswagen resist a tasty slice of profit the BMW 3-series or Mercedes C-class dishes out to their makers? Even if it does risk stepping on Audi's toes...