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Ford announced today that it is recalling 8,000 2015-2017 Shelby GT350 and GT350R Mustangs for an improperly crimped engine oil cooler tube assembly that could leak. It affects GT350s built from February 24, 2015 to August 30, 2016. The defect could lead to the hose separating and causing a leak, which, if bad enough, could cause a major loss of oil and significant engine damage. The oil leak also presents a potential fire hazard. Ford hasn't received any reports of fires, accidents or injuries, and will replace the assembly at no cost to the owner. Also, Shelby GT350 Mustangs are still av...
The low margins of Fiat Chrysler Automobiles and it high leverage position might have taken a toll on its stock in 2Q16. The company is now trading at massive YTD losses. FCAU reported adjusted EPS (earnings per share) of 0.45 euros in 2Q16, or $0.51, which is about 55% higher than its adjusted EPS in 2Q15. This figure was also higher than the analysts’ estimate of 0.39 euros, or $0.43. However, on the day of its 2Q16 earnings release, the company’s stock fell 4.3%. Stagnation in the company’s 2Q16 revenues and shipments, along with concerns over the growth potenti...
Federal Auto Safety Regulators made it official, the nation's highways will be safer with more cars driven by machines and not humans.The Obama administration promised strong safety oversight, but sent a clear signal to automakers that the door was wide open for driverless cars. The director of the National Economic Council, Jeffrey Zients said that they envision as in the future, we will be able to take our hands off the wheel, and our commute will become restful or productive instead of frustrating and exhausting. He considers that automated vehicles will save time, money and ...
A Silicon Valley startup called “Otto” has just been bought by Uber, with the goal of putting a fleet of the self-driving trucks on the nation’s highways in as little as two years. At 55 miles an hour, with no one behind the wheel, Otto has tested its technology on closed roads. For test runs on the busy freeway, a safety driver sits behind the wheel, just in case. "We're living in an on-demand era where we all want to press a button and have something arrive as fast as possible. Well, there's a truck behind all of those products." said Lior Ron, cofoun...
Volvo has announced a partnership with the ride-sharing company Uber to develop fully autonomous cars together. In this joint project, Volvo will manufacture the base vehicles which will then be bought by Uber. The two companies are each investing $300 million towards this project. Uber’s chief executive, Travis Kalanick, said: “Over one million people die in car accidents every year. These are tragedies that self-driving technology can help solve, but we can’t do this alone.“That’s why our partnership with a great manufacturer like Volvo is so important. Vol...
