General Motors

Additional 200,000 Recalled Vehicles on GM Saab and Saturn Models Over Airbag Issues

General Motors discontinued and then sold its Saab and Saturn brands. Ironically, it made an announcement today that these cars from both brands consist of parts that could explode from the Takata airbag. The said cars’ manufacturing date was way back 2003 and a total of 180,000 vehicles are recalled in the U.S. while 20,000 units are from Canada.

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GM Recalls 473,000 Trucks and SUVs in Canada, US Due to Brake Pedal Issues

GM is about to roll out yet another recall program, this time affecting 47300 vehicles in North America. The leading automaker has found issues with the brake nut that could lead to failure of this vital function. This is nowhere close to the first time the company called back its cars for some fix, and seems it won't be the last either.

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Ford to open new plant in Mexico: Reports

Ford is reportedly intending to start a new plant in Mexico with an aim to boost its production capacity of US plants. This move by the company reflects its rival General Motors' investment plan of $5 billion to multiply the production capacity in Mexico within 2018.

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Ford Q4 earnings beat analyst forecast

Ford Motor said its fourth-quarter earnings beat Wall Street analysts' expectations and reiterated 2016 pre-tax profit forecast to be identical to or greater than the previous year.

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Toyota plans to take over the rest of Daihatsu

Toyota Motor is seriously contemplating a buyout of Daihatsu Motor Co., which would give the company direct access to Daihatsu’s 660 cc mini vehicles. This investment would fetch Toyota great returns in the emerging markets and also enable leveraging of the low-cost production model that has long been Daihatsu’s competitive advantage.

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Ford Motor exits Japan, Indonesia as well

Ford Motor has announced on Monday that they would be exiting the Japanese and Indonesian markets by the end of this year as the governments are running a very "closed" market, protecting domestic sales over the international ones. The automaker has been unable to increase their sales or sustain profits under such circumstances. They said that the employees have already been informed and they would be providing detailed explanations regarding post-sale services like servicing and providing new car parts to its customers very soon.

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Maven, the new car sharing brand of General Motors can be driven for $6 an hour

GM's Maven is set to revolutionize the car-sharing and ride-sharing services with an hourly rate of $6. This has been quite an aggressive move from the conventional car-maker. However, the company is pretty confident that car-sharing section is now ready for a highly personalized, easy-to-use mobility service, which it plans to provide through its fleet of Chevrolet Spark and Tahoe.

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GM Acquires Sidecar After Lyft, Strengthens Urban Mobility Team

After acquiring Lyft Inc, GM has also purchased ride hailing pioneer, Sidecar. The acquired entity has been tattering in consecutive years for ever growing competitions with rivals like Uber and Lyft. With the acquiring, GM now will be able to play a more active role in relative fields with the new two subsidiaries.

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Buick unveils sporty Avista concept car, with 400 hp capabilities

General Motors' Buick brand unveiled during the Monday Detroit Auto Show its new sporty Avista concept car, which pumps a 400 horsepower.

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Regulators penalized BMW $40M for slow mini car recall

BMW North America faces a penalty of up to $40 million by U.S. auto-safety regulators for recall failures. According to US News, U.S. safety regulators have fined penalty with German automaker BMW AG with $40 million for a reason of not fast fixation of their Mini brand cars that failed federal crash tests.

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New Chinese-Backed Automaker Challenges Tesla

Faraday Future comes as a new challenger for Tesla in building electric car. The Chinese-backed startup company has invested $1 billion to build factory in America. Other than electric car, Faraday Futures also prepares "rolling smartphone" as a different business model in automotive industry.

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GM promises UAW $1.9 billion for US operations, 3,300 union jobs

General Motors promised The United Auto Workers union a $1.9-billion investment in US operations that would add 3,300 union jobs in the country under a proposed four-year contract.

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GM Pre-Tax Profit Higher than Expected

General Motors pre-tax profit for the third quarter has increased by 37 percent or $3.1 billion thanks to a strong truck and SUV sales in North America and improved performance in China.

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Germany's luxury automakers buy Nokia's maps

Nokia bids goodbye to its digital maps business as it sells its HERE maps unit to German carmaker consortium among BMW, Audi, and Mercedes-Benz's owner Daimler, to focus on making mobile-phone network equipment.

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Mutual funds chase head start on hit IPOs with pre-public investing

U.S. mutual funds are placing bigger bets on privately held companies to get a head start finding the next IPO superstar, a strategy that has yielded some dramatic payoffs and flameouts.

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