US automakers

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GM Recalls 800K Over Electric Issues

Short circuit in wiper-fluid system may cause fires in popular SUVs, other models

(Newser) - An electrical glitch has General Motors recalling 857,735 vehicles today, Reuters reports. GM will recall all cars with a heated windshield wiper fluid system for faults that may lead the system to short circuit, increasing the likelihood of fire or other electrical malfunctions. See below for a full list...

GM, Ford Join Chrysler in Retreat From Leasing

As resale values plummet and credit tightens, automakers leave market

(Newser) - Ford and GM are joining Chrysler in moving away from auto leasing, the Wall Street Journal reports, signalling the end of an era in which leases allowed many Americans to drive more expensive cars than they could afford to buy. The move is prompted by falling prices for used SUVs...

Kerkorian Bets Big on Ford Turnaround

Investor buys 100M shares, taking 4.7% stake after strong Q1

(Newser) - Investor Kirk Kekorian is gobbling up shares of Ford in move seen as a vote of confidence for the automaker’s turnaround efforts, the Wall Street Journal reports. Kerkorian’s Tracinda has bought about 100 million shares and holds a 4.7% stake in the firm. Tracinda also offered to...

More Cuts Planned as Ford Shifts Out of Reverse

Investors rally for Mulally as turnaround picks up speed

(Newser) - Ford was in the worst shape of Detroit's Big 3 a couple of years ago but chief executive Alan Mulally's sweeping changes have put the firm back on the road to profitability, the Wall Street Journal reports. The company has slashed jobs, and will likely cut more, and ditched its...

Pickup Sales Plummet to 10-Year Low

Trucks can't pull their weight as gas prices rev up, housing stalls

(Newser) - US pickup truck sales tumbled in March, hitting their lowest level in nearly a decade. The Big Three all reported double-digit percentage drops in sales this month—the Dodge Ram was down 26%—and large pickups represented barely more than 10% of the auto market. High gas prices added fuel...

Ford to Sell Jaguar, Land Rover to India's Tata

Restructuring move will bring $2B—less than what company paid for either

(Newser) - Ford will sell marquee brands Jaguar and Land Rover to India's Tata Motors, the Wall Street Journal reports. Under the deal, expected to be announced tomorrow, Ford will get $2 billion, less than it paid for either company in separate deals years ago. Ford has lost $15 billion the past...

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

(Newser) - The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal. If oil prices continue to climb, as many experts predict, US political power...

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