Honda Motor net income for the fiscal first quarter to 30 June plunged 88.3% to JPY31.7bn (US$394million) while net profit per share fell to JPY17.64 from JPY150.27 a year ago.
President Barack Obama has inked a deal with 13 major automakers to pursue the next phase in the Administration's national vehicle programme, increasing fuel economy to 54.5 miles per gallon for cars and light-duty trucks by Model Year 2025.
Ford is cutting the price of its Sync software, the company said on Monday. The price will drop from $395 to $295, and Sync will be available on base trim levels for the first time.
Nissan is recalling about 20,000
Volkswagen of America is prepared to expand production of the U.S. Passat less than four months after building its first one. The automaker is looking for a sign from the market to boost production at its just-opened plant in Chattanooga.
Honda is considering building another factory in Mexico as it looks for further expansion in the North American car market.
Mercedes-Benz has increased production at its plant in South Africa to meet growing demand for its C-Class model.
COPY EDITOR CYNTHIA L. OROSCO-WRIGHT: The first thing I noticed when I jumped into this 2011 Toyota Corolla LE for the drive home on Friday was the cloth seats.
Denso has unveiled first quarter results today (1 August) showing consolidated net sales of JPY630.2bn (US$7.8bn), a 21.5% percent decrease from the previous year.
Mitsubishi returned to profit in the three months ending June 30, helped by vehicle sales in Europe and North America.
American Axle & Manufacturing Holdings (AAM) has posted 93.7% growth in its net income to US$49.2m in second quarter of 2011, compared with US$25.4m reported in the same quarter a year ago.
U.S. safety regulators have upgraded an investigation into consumer complaints that 2010 model year Ford Fusion and Mercury Milan cars may suffer from wheel stud fractures that could cause a wheel to come off.
U.S. auto sales have stalled, casting doubt on a rebound this year as persistent unemployment and tighter lending deter buyers. Light-vehicle deliveries in July, to be released Tuesday, may have run at an 11.
Ford has reduced the price of its Sync hands-free, voice-controlled, in-car connectivity system by US$100 to US$295 and is now offering it as an option with base trim levels.
BMW has released details of its new 'i' sub-brand concept models, the electric 'Megacity' i3 Concept and the sporty plug-in hybrid i8 Concept, production versions of which are planned for market introduction from 2013.
Soho editions add a touch of exclusivity to the MINI Hatchback and Convertible line ups
Indian market leader Maruti Suzuki sold 75,300 vehicles during July, including 8,796 exports.
Ferrari has posted half-year net profit of EUR91.8m (US$132m) with revenue of EUR1.08bn and delivered 3,577 vehicles - up 11.8% compared to the first half of 2010.
With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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