Posts
  • General Motors employees work the assembly line at the Orion Assembly plant in Lake Orion, Michigan. The facility produces the Chevrolet Sonic and Buick Verano. (Credit: Steve Fecht/General Motors)

    U.S. government bailout ends with $15.3 billion profit

    NEW YORK (CNNMoney) — The U.S. government essentially closed the books on TARP with a $15.3 billion profit. Treasury sold its remaining shares Friday in Ally Financial, its last remaining major stake from the $426 billion bailout of banks and the U.S. auto industry. The Troubled Asset Relief Program was passed in 2008, in the […]

  • (File photo/Bill Alberter/CNN)

    The fix for exploding airbags may be more deadly than the problem

    NEW YORK — This is one fix for recalled vehicles that might be more deadly than the problem. Eight million vehicles made by 10 different automakers have been recalled due to flawed airbags that can explode and hit passengers with shrapnel. The problem: The airbag manufacturer Takata doesn’t have enough replacement airbags to fix all […]

  • (File photo/Bill Alberter/CNN)

    Honda and its supplier sued over exploding airbags

    NEW YORK — Honda Motor and its airbag supplier Takata have been hit by a federal lawsuit over defective airbags that can explode and send shards of metal into passengers. The suit, filed in federal court Thursday, seeks class action status on behalf of the owners of all five million Hondas affected by the recall, […]

  • Photo by Kevork Djansezian/Getty Images

    SAFETY RECALL: Feds urge vehicle owners to act immediately on defective airbags

    WASHINGTON  — The National Highway Traffic Safety Administration on Tuesday urged owners of certain Toyota, Honda, Mazda, BMW, Nissan, Mitsubishi, Subaru, Chrysler, Ford and GM vehicles to act immediately on recall notices to replace defective Takata airbags. The airbags might explode, sending metal fragments into the driver and other passengers. More than 6 million vehicles […]

  • Photo by Kevork Djansezian/Getty Images

    Stepped-up effort to replace exploding airbags

    NEW YORK (CNNMoney) — Federal safety regulators and Toyota Motor are stepping up efforts to get car owners to bring in cars whose airbags might explode, sending metal fragments into the driver and other passengers. The Orlando Sentinel is reporting that police investigating the death of a woman earlier this month discovered that the “stab-like […]

  • Tesla Model S. From CNN.

    Tesla blocked from selling in Michigan

    NEW YORK (CNNMoney) — Michigan Gov. Rick Snyder has signed a bill which Tesla Motors says will prohibit it from selling cars in the state that’s home to the U.S. auto industry. Snyder says that Michigan law already prohibits Tesla or any other automaker from selling directly to consumers in the state, and that the […]

  • GM CEO Mary Barra Holds Press Conference On Ignition Switch Recall

    GM ignition switch death toll climbs to 29

    NEW YORK (CNNMoney) — Claims of deaths and injuries tied to General Motors faulty ignition switch continue to rise, and two more deaths have been linked to the problem. The number of deaths has climbed by two and now stands at 29, according to numbers released by attorney Ken Feinberg’s office on Monday. That’s more […]

  • (File photo/STAN HONDA/AFP/Getty Images)

    Nightmare on Wall Street: Is it over?

    NEW YORK (CNNMoney) — For a stock market that’s effortlessly climbed higher for years, the past month has felt like something ripped out of a Hollywood horror film. Frightening plot twists like plunging oil prices and the Ebola outbreak teamed up with ghosts from the past (Greece, deflation jitters in Europe) to create a toxic […]

  • [FILE] A close-up photograph showing the Toyota emblem on the front of a vehicle.

    Toyota recalls another 1.75 million cars

    HONG KONG — Toyota has issued three new recalls covering more than 1.75 million vehicles, the latest in a string of safety setbacks for the automaker. The largest of the three recalls, which mostly covers vehicles sold in Japan, is needed to fix a problem in the brake systems of select Crown Majesta, Noah and […]