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The world’s largest automaker Toyota would buy out the rest of minivehicle unit Daihatsu - an all-stock deal worth about $3 billion and part of its strategy to strengthen its push into compact cars for emerging markets.Toyota acquired a controlling interest of 51 percent in Daihatsu in 1988. But now it is raising its stake to 100 percent by a reciprocal share-swap agreement that will see Daihatsu's other shareholders take 0.27 shares in the larger company for each share in the smaller.This move will help to improve Daihatsu small cars by having a unified strategy in the sengment, alt...
Millions of Americans are battling with the elements on Saturday as Jonas brought hurricane-force winds and feet of snow to ten states.About 150,000 North Carolina homes and businesses are shuddering in the cold after ice and strong winds caused power outages. The State Highway Patrol warned motorists on Saturday to stay off roads that were coated with invisible sheets of ice. Troopers had responded to more than 2,000 crashes since icy conditions moved in on Wednesday.Storm Jonas had left the East Coast covered with a think blanket of snow on Saturday as it hovers over the East Coast of t...
The National Highway Traffic Safety Administration announced that an eighth fatality in the U.S. has been linked to a defective air bag made by Takata, marking the first reported death since April and the ninth worldwide.The auto safety agency also said it named a former US Justice Department official to oversee the massive recalls of airbags and the Japanese parts firm's compliance with a settlement.NHTSA spokesman Gordon Trowbridge told reporters on a conference call that the death took place in July in a recalled used 2001 Honda Accord coupe near Pittsburgh, Pennsylvania. The unidentifi...
German automaker BMW has been fined $40 million by the National Highway Traffic Safety Administration for failing to issue safety recalls in a timely manner to Mini owners. The fine, announced on Monday, caps a year of auto industry crackdowns by the Department of Transportation and the Environmental Protection Agency. Regulators have come down hard on the auto industry for problems ranging from air bag defects to cheating on emissions tests.The MINI Cooper Hardtop was recalled for the same issue in December of 2014, prompting the NHTSA's investigation for non-compliance.As part of the set...
The U.S. government and private auto-safety raters made evident this week how tougher standards are moving beyond crash tests that just measure passenger protection. Now, they're evaluating systems that can avoid accidents altogether.The Insurance Institute for Highway Safety said Thursday that 48 vehicles earned its highest rating of "Top Safety Cars." Toyota, Honda and Subaru are the winners, with 23 combined. Volkswagen and its luxury brand, Audi, had seven winners. Volvo, Hyundai and Mazda each had multiple winners. The Chrysler 200 was the only domestic car to earn the ...
