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Takata Corp. handled their air bag crisis is the very reason why they lost one of their biggest investors, Sawakami Asset Management. He was one of the automotive supplier, 12th largest shareholder, but the firm lost faith in Takata after the management refused to explain what was happening during the crisis. “We could not help feeling the management is not trustworthy,” fund manager Takahiro Kusakari said in an interview from his office in Tokyo. “We felt Takata had a ‘we are needed and our products are needed, so the business will come back and the situation won&...
According to calculations based on actual monthly sales reported by the manufacturers, the first reports of November auto sales are in.Statistics show that Hyundai, Nissan and Toyota set the pace in November. Gains among major players fell within a narrow range of 0.3 percent at Ford Motor Co. to 3.8 percent at Nissan Motor Co. Hyundai’s 12 percent increase stood out in percentage terms. Hyundai generated sales of 60,007 vehicles, up 12 percent, for its best-ever November. Only American Honda and Volkswagen Group posted a decline in volume. Overall U.S. sales, wi...
Volkswagen Group management reduces the range of possible car model versions and their sets to make up the losses from the emission scandal. This way the German manufacturer hopes to save 1.9 billion euros.The top manager of Volkswagen, Bernd Osterloh, said that this decision, reduce labor costs and complexity, was taken for a long time. Osterloh said reducing the variety of car models and options could enable Volkswagen to "take out costs there on a large scale" without forcing the company to cut jobs, Bloomberg reported. VW has one major U.S. factory, located in Chattanooga, Tenn.V...
The United Auto Workers union on Friday night said it had ratified a contract with Ford Motor.The UAW-Ford deal comes after a resurgence in car sales and profits. That's one of the issues workers have raised -- many hadn't received a raise in over a decade despite economic strength within the industry.The four-year deal with Ford barely passed with a 51.4-percent majority. The Blue Oval's production workers voted 51.3 percent in favor of the contract, and 52.4 percent of those from skilled trades accepted it."This agreement provides a good foundation for Ford Motor Company, ou...
Ford is recalling 450,000 cars in the USA for fuel tanks that can crack.Ford has not received any reports of accidents or fires related to this condition."Affected vehicles include certain 2010-2011 Ford Fusion and Mercury Milan vehicles built at Hermosillo Assembly Plant from July 21, 2008 through March 4, 2011."The second recall affects 13 F-650 trucks. The column shifter's park position mechanism may fracture and let the truck roll away unexpectedly. Those 2016 models built in Ohio between July 29 and September 3, 2015 are all located in the US. Fixing the problem will require...
