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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.
Need for Speed Ford Mustang sells for $300,000
Tue, 29 Apr 2014The 900hp Ford Mustang GT as seen in the latest Need for Speed movie has sold at an auction in the US for $300,000 – that’s roughly £180,000. Unfortunately, the winning bidder might be disappointed to find out that in real life it doesn’t make anywhere near the 900hp claimed in the film, instead running a stock 420hp. Please click on the picture above to find out more about the Need for Speed Mustang
GM SUVs probed by NHTSA after reports of stalling
Fri, 29 Apr 2011Federal regulators have opened a safety investigation of as many as 865,000 General Motors SUVs from 2005-07 model years after complaints that inaccurate fuel-gauge readings led to stalling and one accident. The National Highway Traffic Safety Administration's preliminary evaluation is looking at 2005-07 Buick Rainiers, 2005-07 Chevrolet TrailBlazer 360s, 2005-06 Chevrolet TrailBlazer EXT 370s, 2005-07 GMC Envoy 360s, 2005-06 GMC Envoy XL 370s and 2005-07 Saab 9-7Xs. NHTSA said in a posting Friday that it has received 668 complaints of inaccurate fuel-gauge readings, 58 of which involved stalling vehicles.