Nov. 18, 2014, 6:19 PM
- The National Highway Traffic Safety Administration is seeking the recall of "millions of vehicles" containing Takata (OTCPK:TKTDY) airbags, and the DoT agency will "use the full extent of its statutory powers" to force action if Takata and auto manufacturers fail to "quickly agree" to a recall.
- Cars had been recalled only in areas along the Gulf coast with high humidity, but the NHTSA says it is basing the decision on a recent incident that happened outside of those areas.
- NHTSA also orders Takata and all 10 auto companies that use Takata's air bag inflators - BMW (OTCPK:BAMXY, OTCPK:BAMXF), Chrysler (NYSE:FCAU), Ford (NYSE:F), GM, Honda (NYSE:HMC), Mazda (OTCPK:MZDAY), Mitsubishi (OTCPK:MMTOF), Nissan (OTCPK:NSANY, OTCPK:NSANF), Subaru (OTCPK:FUJHY), and Toyota (NYSE:TM) - to provide detailed reports about ongoing testing of the products outside of the high-humidity regions that already had recalls in place.
Nov. 18, 2014, 7:35 AM| Comment!
Nov. 12, 2014, 10:06 AM
- The landmark emissions deal struck between the U.S. and China has implications for the automobile industry even if it is largely symbolic, according to analysts.
- There's some speculation that bickering between the nations over spying and other free trade issues won't reel in China-Western auto joint ventures and impact government EV subsidies as the nation stays focused on pollution control.
- Automaker stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, OTCPK:PEUGF, TTM, TSLA.
Nov. 11, 2014, 2:28 PM
- Domestic automobile sales in India fell 2.6% in October, according to the Society of Indian Automotive Manufacturers.
- A pulling back of government subsidies for diesel models impacted sellers in the category.
- Sales of trucks and buses also fell during the month.
- Related stocks: OTCPK:SZKMF, HMC, TTM, OTCPK:BAMXY, OTCQX:VLKAY, OTCPK:NSANY.
Nov. 11, 2014, 9:30 AM
Nov. 3, 2014, 12:40 PM
Oct. 25, 2014, 9:27 PM
- The Transportation Department will conduct an internal review of the National Highway Traffic Safety Administration in response to a series of recent safety failures, including this week's 7.8M vehicle recall, Reuters reports.
- The House of Representatives' Energy and Commerce Committee is to hold an initial briefing with U.S. safety regulators next week to learn the details of the regional recalls affecting 10 automakers - Toyota (NYSE:TM), Honda (NYSE:HMC), Mazda (OTCPK:MZDAY), BMW (OTCPK:BAMXY), Nissan (OTCPK:NSANY), Mitsubishi (OTC:MMTOY), Subaru (OTCPK:FUJHY), Chrysler (NYSE:FCAU), Ford (NYSE:F) and General Motors (NYSE:GM).
- It was reported on Friday that the Obama administration will likely nominate a permanent chief of the NHTSA within two weeks.
Oct. 24, 2014, 8:38 AM
- There's some speculation in the automobile sector that BMW (OTCPK:BAMXY) purchased the stake in Tesla Motors (NASDAQ:TSLA) unloaded by Daimler (OTCPK:DDAIF).
- The two automakers have long been linked as potential partners due to their complimentary strengths.
- Previous: Daimler unloads Tesla stake, Toyota sells Tesla shares.
- TSLA trades flat in premarket action.
Oct. 22, 2014, 2:35 AM
- The NHTSA has expanded its warning about faulty airbags made by Takata (OTCPK:TKTDY) to 6.1M U.S. vehicles.
- "The National Highway Traffic Safety Administration urges owners of certain Toyota (NYSE:TM), Honda (NYSE:HMC), Mazda (OTCPK:MZDAY), BMW (OTCPK:BAMXY), Nissan (OTCPK:NSANY), Mitsubishi (OTC:MMTOY), Subaru (OTCPK:FUJHY), Chrysler (NYSE:FCAU), Ford (NYSE:F) and General Motors (NYSE:GM) vehicles to act immediately on recall notices to replace defective Takata airbags," it said in a statement.
- The previous warning, issued on Monday, covered 4.7M vehicles.
- Update: Recall has been expanded to 7.8M vehicles.
Oct. 20, 2014, 2:44 PM
- The NHTSA issued a broad warning on airbags issued by Takata Corp. - covering as many as 4.7M vehicles.
- Concerns over Takata airbags have already led to recalls at Subaru (OTCPK:FUJHY), GM, BMW (OTCPK:BAMXY), Nissan (OTCPK:NSANY), Honda (NYSE:HMC), Mazda (OTCPK:MZDAY), and Toyota (NYSE:TM).
- The government agency says the issue is especially urgent to drivers in regions of high humidity.
- Complete list of models included in NHTSA warning
Oct. 17, 2014, 7:40 AM
- Automobile registrations rose 6.4% to 1.235M vehicles in September, according to the European Automobile Manufacturers Association.
- A strong rate of growth was seen across European Union nations.
- The month included an extra selling day compared to a year ago.
- Sales growth by automaker: Volkswagen (OTCQX:VLKAY) +6.7%, Peugeot (OTCPK:PEUGY) +9.8%, Fiat (NYSE:FCAU) +6.1%, General Motors (NYSE:GM) -5.9, Renault (OTC:RNSDF) +10.7, Daimler (OTCPK:DDAIF) +5.2%, Toyota (NYSE:TM) +0.4%, Ford (NYSE:F) +6.7%, BMW (OTCPK:BAMXY) -1.0%, Nissan (OTCPK:NSANY) +16.9%, Hyundai (OTC:HYMLF) +6.3%, Mazda (OTCPK:MZDAY) +26.4%, Subaru (OTCPK:FUJHY) +8.5%, Jaguar Land Rover (NYSE:TTM) +3.9%.
Oct. 8, 2014, 1:53 PM
- The EPA says the fuel economy of 2013 models sold in the U.S. averaged 24.1 mpg, up half a mpg from the prior year's model.
- The modest 2.1% improvement is below the pace called for by some environmental groups and just a fraction of what would be needed to keep pace with the government's target for a 54.5 average mpg for the 2016 model year.
- A higher mix of SUV and truck sales offset technology gains by automakers.
- Related stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, HMC, FCA.
Oct. 8, 2014, 8:31 AM
- Sales of electric vehicles in the U.S. aren't keeping pace with the broader market, according to data compiled by Cowen Research.
- Sales of EVs rose 1% Q/Q in Q3.
- On a market share basis, EVs account for 0.7% of sales this year while hybrids are at 2.9%.
- Models with lithium batteries account for a higher percentage of EV sales than nickel-based batteries, notes Cowen.
- Related stocks: OTCPK:NSANY, TM, HMC, TSLA, GM, OTCPK:BAMXY, OTCPK:MMTOF.
Oct. 8, 2014, 7:50 AM
- Fiat (OTCPK:FIATY) CEO Sergio Marchionne thinks there is room in the industry for a merger to create an automaker bigger than Toyota.
- Marchionne might be the man for the job after helping guiding the acquisition of Chrysler from Daimler and pushing Fiat through a complicated transaction to create Fiat Chrysler Automotive (NYSEARCA:FCA).
- Morningstar analyst Richard Hilgert agrees that the auto industry may see more M&A activity due to the needed economies of scale to compete.
- Automaker stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, OTCPK:PEUGF, OTC:RNSDF, TTM, OTCPK:SZKMY.
Oct. 1, 2014, 12:42 PM
Sep. 29, 2014, 10:22 AM| 1 Comment
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