Detroit's ties to the fortunes of the U.S. auto industry have been fraying for six decades, as manufacturing jobs in the city fell from about 296,000 in 1950 to fewer than 27,000 in 2011. But it isn't likely that Detroit's recovery will be as quick and easy as the turnaround of the U.S. automakers.
Toyota won final approval of a settlement, valued at as much as $1.63 billion by plaintiff lawyers, with U.S. consumers who claimed that recalls related to sudden, unintended acceleration caused their vehicles to lose value.
U.S. new-vehicle sales are projected to rise 16 percent this month as the industry gains strength entering the second half of the year, according to a forecast released today by LMC Automotive. LMC estimated that the seasonally adjusted annualized selling rate for July would reach 15.
PSA says it plans to end losses at its French assembly plants by 2016 through competitiveness talks with local unions. The carmaker also said it aims to increase average plant capacity utilization to 100 percent in the same timeframe.
Mazda sees no need to build cars in Europe despite rising sales in the region. Helped by models such as the CX-5 crossover and new Mazda6, the company's Europe vehicle sales increased by 5.4 percent in the first half.
General Motors CEO Mary Barra comments on lessons from mom; girls who shy away from math; slicing a 10-page policy down to two words; tapping millennials to erase stupid habits; taking regular trips to Silicon... » Watch the Video