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Automakers may recall as many as 400,000 vehicles that have Autoliv Inc. seat belt and airbag parts worldwide, the Swedish auto safety parts maker said on Friday. No crashes or injuries have been reported in the two separate issues Autoliv reported to U.S. safety regulators and the costs of the potential recalls will not be material to Autoliv earnings, company spokesman Thomas Jonsson said. Autoliv said there are possible glitches in its widely used seat belt pretensioners, which work to tighten seat belts to better secure a driver or passenger, and a product that initiates the pro...
As consumers keep snubbing sedans despite record consumer discounts, the U.S. auto sales will probably decline slightly for December. Specialists forecast manufacturers' discounts offered to close sales would hit a record high of more than $4,000 per vehicle in December. The consultancies estimated sales at 17.5 million vehicles on a seasonally adjusted annualized basis this month, flat with a year ago. Detroit automakers are moving to cut production of certain vehicles, particularly small and mid-sized sedans, as they concede that the market is hitting a plateau where the...
Not even a week has passed since Uber introduced a fleet of self-driving Volvo XC90s to the streets of San Francisco, all in defiance of California regulators telling Uber to stop. Since then, the autonomous Volvos have been seen running red lights, ignoring stop signs, and failing to yield to pedestrians, obviously all dangerous and illegal moves. It seems there is one more problem to add to that list, as Uber has admitted to The Guardian that its vehicles have problems navigating through bike lanes. Like with the other incidents, there have been first-hand reports of Uber's Vo...
The US car buyers are showing signs of fatigue, raising concerns over the broader outlook for consumer spending—a key engine of U.S. Growth. Sales of light vehicles in the U.S. have increased for six straight years, touching a record 17.5 million units in 2015, and are potentially on track for another record this year. But sales now appear to have plateaued, leading to a buildup of inventory and a return to discounting—something auto makers swore off when emerging from the recession. Dealership sales, measured in dollars, fell a seasonally adjusted 0.5% in November from ...
Analysts didn't expect light vehicle sales will be this strong this November. The annualized selling rate adjusted for seasonal trends reached 17.8 million, the second-fastest pace of the year. While that pace is off from 18.1 million a year earlier, it’s faster than any analyst estimate in surveys. The average projection was for a 17.5 million rate. Automakers’ results released are giving investors new evidence to determine whether the industry’s expansion is coming to an end after a record 2015 -- or if there is more room for economic-driven growth. Concerns ...
