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GM hasn’t notified recall victims’ families – CNNMoney

Posted: Thursday, March 20, 2014

GM CEO Mary Barra. Click on photo to see a timeline of GM’s recall problems. General Motors believes at least 12 people were killed by a flaw in the ignition switch in more than 1.6 million of its cars. But it has yet to reveal who those 12 people are — even to the victims’ family members. GM CEO Mary Barra revealed that fact during a media roundtable in Detroit…

Toyota’s $1.2 billion settlement may be model for US probe into GM – Reuters

Posted: Thursday, March 20, 2014

WASHINGTON/DETROIT (Reuters) – Toyota Motor Corp will pay a record $1.2 billion to resolve a criminal probe into safety issues, in a deal that could serve as a template for how U.S. authorities approach a similar investigation into General Motors Co. The settlement between the Justice Department and Toyota includes an admission by the auto manufacturer that it misled American consumers about two different problems that caused cars to accelerate…

Toyota’s $1.2 billion settlement may be model for US probe into GM – Reuters

Posted: Wednesday, March 19, 2014

WASHINGTON/DETROIT (Reuters) – Toyota Motor Corp will pay a record $1.2 billion to resolve a criminal probe in to safety issues, in a deal that could serve as a template for how U.S. authorities approach a similar investigation into General Motors Co. The settlement between the Justice Department and Toyota includes an admission by the auto manufacturer that it misled American consumers about two different problems that caused cars to…

GM Chief Steps Up to Handle Safety Questions – New York Times

Posted: Wednesday, March 19, 2014

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Toyota settles with government for $1.2 billion in recall probe – Washington Post

Posted: Wednesday, March 19, 2014

Toyota representatives examine a crashed Toyota Prius, Wednesday, March 17, 2010, in Harrison, N.Y. (AP Photo/Stephen Chernin) Toyota Motor Corp. has agreed to a $1.2 billion settlement to end a U.S. Justice Department criminal probe into its handling of safety problems, Attorney General Eric Holder announced. “The $1.2 billion payment represents the largest criminal penalty imposed on a car company in U.S. history,” Holder said in a statement. “This is…

Toyota Expected to Settle Justice Dept. Investigation – New York Times

Posted: Wednesday, March 19, 2014

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BMW Shares Surge to Record High on 2014 Profit Forecast – Bloomberg

Posted: Wednesday, March 19, 2014

Bayerische Motoren Werke AG (BMW), the world’s biggest maker of luxury autos, surged to a record high after forecasting a significant gain in 2014 profit as models like the 4-Series Gran Coupe and i8 sports car propel sales. Pretax profit will rise by at least a high single-digit percentage above 2013’s 7.91 billion euros ($11 billion), Chief Financial Officer Friedrich Eichiner said today at the annual press conference in Munich….

BMW CEO hints at possible expansion; Announcement expected – WYFF Greenville

Posted: Wednesday, March 19, 2014

BMW officials say they will make a “significant economic and product” announcement at the Upstate plant next week — but on Wednesday, the CEO may have dropped a hint about what the announcement will be. Wednesday, in Munich, Germany, BMW Group Chairman Dr. Norbert Reithofer hinted that the company is looking at expanding production capacity in the United States.  He said, “Last year, we manufactured 300,000 cars at the site….

The Biggest Threat To The US Auto Industry From GM’s Recalls – Forbes

Posted: Wednesday, March 19, 2014

On Tuesday, General Motors General Motors named a 40-year company veteran, Jeff Boyer, to a new position as vice president of global vehicle safety. He joined the automaker in 1974, when GM’s leadership of the automobile industry, both in the United States and around the world, was unrivaled. But during Boyer’s four decades at the car company, GM saw its market share take a steady slide. The automaker lost its…

Toyota to pay $1.2B to settle criminal probe – USA TODAY

Posted: Wednesday, March 19, 2014

A Toyota Camry sits on the sales lot at City Toyota in Daly City, Calif., in a 2010 file photo(Photo: Justin Sullivan Getty Images) The Justice Department announced Wednesday that Toyota will pay $1.2 billion to settle a criminal probe of its handling of the reports of unintended acceleration in its vehicles and subsequent recalls beginning in 2009. The settlement — the largest criminal penalty imposed on a car company…

GM recalls another 1.5 million vehicles, will take $300 million charge – CBS News

Posted: Wednesday, March 19, 2014

DETROIT – General Motors (GM) will take a $300 million charge primarily to cover the costs related to the faulty ignition switches linked to at least 12 deaths as well as three more recalls it announced on Monday. The No. 1 U.S. automaker, which will take the charge in the first quarter, did not provide a breakdown of how much was related to the ignition-switch recall of more than 1.6…

The Biggest Threat To The US Auto Industry From GM’s Recalls – Forbes

Posted: Wednesday, March 19, 2014

On Tuesday, General Motors General Motors named a 40-year company veteran, Jeff Boyer, to a new position as vice president of global vehicle safety. He joined the automaker in 1974, when GM’s leadership of the automobile industry, both in the United States and around the world, was unrivaled. But during Boyer’s four decades at the car company, GM saw its market share take a steady slide. The automaker lost its…

Toyota Set to Pay $1 Billion in US Probe – Wall Street Journal

Posted: Wednesday, March 19, 2014

The Justice Department is expected to announce a settlement with Toyota Motor Corp. as early as Wednesday that could cost the auto maker more than $1 billion to end a criminal probe into its disclosure of safety issues, people familiar with the matter said. The deal would cap a four-year investigation with one of the largest fines ever imposed on an auto maker. It is expected to include a deferred…

Video: GM CEO Barra says ‘something went wrong’ – USA TODAY

Posted: Wednesday, March 19, 2014

General Motors CEO Mary Barra.(Photo: Steve Fecht for GM) In a video message to General Motors employees on Monday CEO Mary Barra offered an update on “where things stand” with the ignition switch recall and with the company’s efforts to improve its handling of such issues. Barra noted the widening number of investigations into the switch recall and said the growing scrutiny is to be expected because “something went wrong…

GM Changed Ignition Part Without Telling Drivers, Regulators – NBCNews.com

Posted: Wednesday, March 19, 2014

General Motors knew about a defect in its ignition switches eight years ago and changed the design of an internal part, but never told federal regulators or the drivers of its cars, according to evidence from a recent lawsuit filed by the parents of a Georgia woman who died in a 2010 GM car crash. In February the automaker recalled 1.6 million vehicles, saying their ignition switches could be…

Barra on recall: ‘Terrible things happened’ – CNNMoney

Posted: Wednesday, March 19, 2014

  General Motors CEO Mary Barra gave her most critical statement yet on the automakers’ handling of a flawed ignition switch, calling it a tragic situation in which “terrible things happened.” Barra, in a video taped for GM employees and released to the public Monday, said various congressional probes and even an criminal investigation into the recall shouldn’t come as a surprise to anyone. “After all, something went wrong with…

The Biggest Threat To The US Auto Industry From GM’s Recalls – Forbes

Posted: Wednesday, March 19, 2014

On Tuesday, General Motors General Motors named a 40-year company veteran, Jeff Boyer, to a new position as vice president of global vehicle safety. He joined the automaker in 1974, when GM’s leadership of the automobile industry, both in the United States and around the world, was unrivaled. But during Boyer’s four decades at the car company, GM saw its market share take a steady slide. The automaker lost its…

Lots of choices for best used cars under $10000 – USA TODAY

Posted: Wednesday, March 19, 2014

Last SlideNext Slide Matt Sixt of La Habra Heights, Calif., with his customized Scion xB in this 2010 file photo(Photo: Chris Woodyard USA TODAY) Cash-strapped buyers used to have choices in new cars for $10,000. No longer. But cheap cars are no longer as cheap, with the average new car now around $30,000 according to CNW Marketing Research. Meanwhile, the average used car sold in early January 2014 for $10,843…

Disney Plans Third ‘Cars’ Movie and Second ‘Incredibles’ Film – Hollywood Reporter

Posted: Wednesday, March 19, 2014

Walt Disney CEO Bob Iger disclosed Tuesday that Pixar is working on a new Cars movie and a new Incredibles film. He also said Frozen is close to surpassing Toy Story 3 as the biggest animated film of all time, and that the next Star Wars movie will pick up 30 years after the events in 1983′s Return of the Jedi, a timeframe that conceivably would allow Mark Hamill,…

It’s Not Just Tesla: Why Dealers Are Wary of Electric Cars – Mashable

Posted: Wednesday, March 19, 2014

For a guy who is supposed to be selling electric cars, Mike Kelly isn’t a big fan. Kelly, a car dealer in Erie, Pa., who also happens to represent his district in Congress, said in a 2011 hearing on fuel efficiency ratings that he fired a guy at his Chevy dealership who ordered the electric Volt. Kelly claimed the Volt sells poorly and is overpriced. “When you look at this,…