auto industry

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Tesla Is Now the Most Valuable US Automaker

Investors aren't put off by lack of profits

(Newser) - Tesla sent a jolt through the auto industry Monday by becoming the most valuable American automaker, overtaking General Motors, which sold more than 100 times as many cars last year. GM also made a profit of around $9 billion in 2016, while Tesla—which has had only two profitable quarters... More »

Obama's Tougher Gas Mileage Rules May Be Going Away

EPA will re-examine standards put in place at 11th hour

(Newser) - President Trump on Wednesday is making a move seen as good news for the auto industry and bad news for environmental advocates. In a visit to Detroit, the president will direct the EPA to re-examine fuel efficiency standards put in place by the Obama administration just before Trump took office,... More »

GM Set to Announce $1B Factory Investment: Source

AP source says jobs announcement coming Tuesday

(Newser) - General Motors will announce a $1 billion investment in its factories that will create or keep around 1,000 jobs, a person briefed on the matter tells the AP . The Detroit automaker will make the announcement Tuesday morning. The investment is part of the normal process of equipping factories to... More »

Like VW, Fiat Chrysler Now in Trouble for Emissions

EPA accuses automaker's software of cheating on emissions levels

(Newser) - Less than 24 hours ago, Fiat Chrysler was anticipating hitting its 2018 financial targets. On Thursday, the automaker came under fire from the EPA, per Reuters , with the agency alleging Fiat Chrysler cheated on diesel emissions—just a day after six Volkswagen honchos were indicted in that company's own... More »

This Is the 'Car of the Year'

Chevy Bolt takes honors at Detroit Auto Show

(Newser) - The Chevy Bolt picked up more bragging rights Monday that you'll likely be hearing about in lots of future commercials. The fully electric vehicle was named Car of the Year at the North American International Auto Show in Detroit, reports USA Today . The Bolt beat out two luxury sedans,... More »

Fiat Says Its $1B Move Has Nothing to Do With Trump

Investment will create 2K jobs in Michigan, Ohio

(Newser) - Fiat Chrysler may have earned itself a gold star from Donald Trump with the announcement of a $1 billion investment in updating two plants in Michigan and Ohio, a move expected to create around 2,000 jobs by 2020. The company says a plant near Detroit will make new Jeep... More »

Ford Mexico Plant Cancellation Not Quite What It Seems

Small-car production is still heading south

(Newser) - Ford may have found a successful strategy for dealing with Donald Trump: letting him take credit for stuff it was going to do anyway. The company's announcement Tuesday that it's canceling a $1.6 billion plant in Mexico was seen as a big victory for the president-elect, but... More »

GM Doesn't Take Trump's Tweet Sitting Down

Trump threatened to slap tax on automaker for importing Cruzes

(Newser) - After swinging at China Tuesday morning on Twitter, President-elect Donald Trump set his sights on this continent, tweeting , "General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!" Politico reports... More »

Trump Says He Kept Ford Plant in Kentucky

Company hadn't planned to move whole plant to Mexico

(Newser) - President-elect Donald Trump took to Twitter Thursday night to announce that Ford Motor Co. won't be moving Lincoln production from Kentucky to Mexico. Trump tweeted that Bill Ford, the company's executive chairman, telephoned him with the news that a Lincoln plant would stay in Louisville. In another tweet... More »

GM Laying Off 2K Due to Change in How We Buy Cars

Factories cut shifts amid falling demand

(Newser) - Shifting demand from cars to trucks and SUVs is forcing General Motors to lay off more than 2,000 workers indefinitely at two assembly plants in Ohio and Michigan starting in January. The company said Wednesday it will suspend the third shifts at factories in Lordstown, Ohio, and in Lansing,... More »

Tesla Racks Up 'Unprecedented' Sales With Model 3

New electric car, not even available until late 2017, has 276K preorders

(Newser) - Electric cars used to be a quaint novelty for a niche demographic. But the throngs trying to nab one of Tesla's new Model 3 sedans are turning a one-time fad into a phenomenon. The Washington Post reports that in two days' time, 276,000 people preordered its latest vehicle,... More »

10 Best-Selling Vehicles of 2015

List has US pickups, but no US cars

(Newser) - With 2015 in the books, 24/7 Wall St rounds up the top-selling vehicles of the year. No. 1 is a familiar name—the Ford F-Series pickup has been in that spot "for decades." The list notably includes American trucks but no American cars. The rundown:
  1. Ford F-Series (780,
... More »

US Sues Volkswagen, but Is Move Too Light?

Justice Department civil case could cost company billions

(Newser) - The Justice Department is filing a civil suit against Volkswagen that could cost the automaker billions of dollars over its rigging of emissions tests , reports Reuters . The department is suing on behalf of the EPA, alleging that VW violated the Clean Air Act with its popular line of diesel vehicles,... More »

VW's Scandal Leads to First Loss in 15 Years

Company is $1.83B in the red for last quarter

(Newser) - Volkswagen's new chief executive, Herbert Diess, apologized at the Tokyo Motor Show Wednesday for the automaker's emissions-cheating scandal , promising to win back customer trust, and said it will delay the launch of a diesel vehicle in Japan. The head of VW's Japan division appeared at the VW... More »

We're Becoming Less Satisfied With Our New Cars

Customers most disappointed by Chrysler, Fiat, and Jeep

(Newser) - Americans' level of satisfaction with their new cars is at its lowest point in more than a decade, and experts are blaming a record number of recalls and rising prices. The results of a national survey of more than 4,000 car buyers released today show an overall satisfaction level... More »

Chrysler Hit With Record Fine, Buyback Order

More than 500K Ram pickups, other vehicles part of settlement

(Newser) - Fiat Chrysler must offer to buy back from customers more than 500,000 Ram pickup trucks and other vehicles in the biggest such action in US history as part of a costly deal with safety regulators to settle legal problems in about two dozen recalls. The Italian-American automaker also faces... More »

Top 10 Car Brands for Quality

JD Power rankings put Porsche on top

(Newser) - If you hate spending time at the mechanic, you'll need a Porsche. Or at least a Kia. JD Power and Associates is out with its annual rankings on new-vehicle quality, and those brands are at the top of the list, reports AP . The results factor in problems reported by... More »

GM's Ignition Switch Death Toll Hits Grim Milestone

Compensation fund is making payouts to 100, and counting

(Newser) - Only last year, GM insisted it could find only 13 deaths linked to its faulty ignition-switch system . Yesterday, the independent attorney overseeing GM's compensation fund on the issue reported an unwanted milestone—100 deaths and counting, reports CNNMoney . "And as the number of victims mounts, the ignition-switch crisis... More »

Postal Service Finally Retiring Old Trucks

Aging fleet a huge drain on resources

(Newser) - The US Postal Service is planning to finally replace a 163,000-strong fleet of delivery vehicles that have been in service since before Amazon.com sold its first book. The familiar Grumman LLVs now in service were built between 1987 and 1994. Upkeep for the aging vehicles has become a... More »

Honda Fined Record $70M Over Safety Issues

It failed to report accidents, injuries to government

(Newser) - The Obama administration is fining Honda $70 million—the largest civil penalty levied against an automaker—for not reporting to regulators some 1,729 complaints that its vehicles caused deaths and injuries, and for not reporting warranty claims. The Japanese automaker acknowledged in November that it failed to report the... More »

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