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Forecasters see slow auto-sales recovery through 2011
Tue, 05 Oct 2010U.S. auto sales in 2010 and 2011 will continue to crawl -- not walk or run -- out of last year's recession, according to forecasters at the Auto Industry Hot Topics Conference here. “It's going to be a long crawl out of this, but we're crawling in the right direction,” said David Wyss, chief economist for Standard & Poor's, which co-sponsored the conference along with J.D.
Daimler agrees to unload remaining Chrysler stake
Mon, 27 Apr 2009Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.
2012 Honda Civic faces limited recall for possible fuel leak
Fri, 20 May 2011Honda is recalling 1,156 copies of the redesigned 2012 Civic because of a potential fuel leak. A mechanical seal in the fuel line on some vehicles was misplaced during assembly, leaving a gap where two segments of pipe attach and allowing for the potential of leakage. No injuries or fires have been reported in relation to the glitch, and most of the affected vehicles are still in inventory and will be fixed before going up for sale.