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Taxpayers Taking Bigger Hit on GM Bailout

Taxpayers Taking Bigger Hit on GM Bailout

U.S. taxpayers are taking a bigger loss on the General Motors bailout package than $10.3 billion originally reported. Due to an accounting error, the loss is actually $11.2 billion, according to a report released today. The Treasury Department reported an $826-million...
U-M Escalating Connected Car Research

U-M Escalating Connected Car Research

The University of Michigan’s Board of Regents is ready to approve a new project that will help make the university one of the centers for the study of connected car technology in North America. Jim Sayer of the University of Michigan Transportation Research Institute...
Failure to Recall May Cost Makers $300 Million

Failure to Recall May Cost Makers $300 Million

Transportation Secretary Anthony Foxx wants automakers to know his department means business with his latest proposal that would raise the maximum fine for not recalling a vehicle in a timely manner nearly tenfold. As part of the administration’s transportation...
New Products Drive Sharp Surge in Daimler Earnings

New Products Drive Sharp Surge in Daimler Earnings

With new models like the Mercedes-Benz CLA drawing in a new generation of buyers, the brand’s German parent Daimler AG reported its net profit nearly doubled during the first quarter. The German maker had struggled to overcome a series of problems in recent years,...
Terrafugia Wants to Build Flying Plug-in Hybrid

Terrafugia Wants to Build Flying Plug-in Hybrid

Flying cars have long been the stuff of science fiction, though plenty of entrepreneurs and visionaries have struggled to make the concept a reality – including no less than the original Henry Ford. Several projects are now underway and one, started by a group of MIT...
Over Half of New Vehicles Now Deliver at Least 23 MPG

Over Half of New Vehicles Now Deliver at Least 23 MPG

Despite the resurgence of full-size pickups, SUVs and muscle cars, American car buyers are getting better fuel economy than ever before, over half of the vehicles sold this year delivering over 23 mpg, according to a new study, with one in nine topping 30 mpg. Even...
BMW, Mercedes Recall More than 400K Cars

BMW, Mercedes Recall More than 400K Cars

The list of recalls continues to lengthen as two German automakers – BMW and Mercedes-Benz – issued recalls for separate problems on more than 400,000 vehicles. BMW is recalling 156,000 cars due to issues with aluminum bolts that secure the housing for the variable...
Volkswagen Reports Jump in Q1 Profitability

Volkswagen Reports Jump in Q1 Profitability

Volkswagen AG enjoyed a strong first quarter reporting a 26.8% increase in net income as well as a 21.8% rise in operating profit on just a 2.7% jump in revenue. Most of the company’s brands saw an increase in operating profit, except its namesake brand, Volkswagen....
Move to Texas Could Help Toyota Tackle Truck Market

Move to Texas Could Help Toyota Tackle Truck Market

One of the key motives for Toyota’s decision to move its headquarters and marketing staff from Southern California to Texas undoubtedly involves gearing up for another assault on the lucrative North American truck market, industry experts suggests. While Toyota...
Senators Ramping Up Pressure on GM

Senators Ramping Up Pressure on GM

Senators Richard Blumenthal and Edward Markey continue to beat the drum to force General Motors to ask owners of the 2.6 million small cars it recalled to stop driving them immediately. Blumenthal (D-Conn.) and Markey (D-Mass.) jointly penned a letter asking...