With bankruptcy for all three US automakers not just a possibility but a probability without drastic action, Pres. Elect Obama used his first official news conference on Nov. 8 to offer help for the nation's "backbone of manufacturing."
Volkswagen briefly became the world’s largest company by market capitalization after an extraordinary surge in its share price driven by a near-panic by hedge funds and other traders to stop losses on positions betting on a fall in the stock.
The "Cash for Clunkers" amendment to the United States Senate stimulus package was withdrawn from the bill on Feb. 5. The "Cash for Clunkers" program would have earmarked federal funds for car owners to trade in their sport utility vehicles in exchange for vouchers to be used to obtain newer, more fuel efficient vehicles.
U.S. consumers will buy 13.9 M vehicles in 2008 and Edmunds.com forecasts 13.7 M for 2009. This down due to a 26.6% drop in September sales, the lowest since 1993. U.S. sales are now 2 million units below 2007, as consumers are keeping vehicles about 4 months longer, according to J.D. Power, which sees 2009 sales dropping to 13.2 M vehicles.
Automotive Service Association (ASA) has written a letter to National Highway Traffic Safety Administration (NHTSA) administrator David L. Strickland asking him to review why NHTSA does not regulate aftermarket crash parts and to begin an aftermarket crash parts regulatory program as soon as feasible.
Keystone Automotive, a subsidiary of LKQ Corporation, has announced that it has completed the first phase of its testing of aftermarket reinforcement bars. Keystone reports that the tested aftermarket reinforcement bar satisfied Federal Motor Vehicle Safety Standard No. 208 (FMVSS 208) in a 35 mph frontal impact test.
Distracted driving is an attention problem not a manual operation problem, so it’s no surprise to many that laws banning the use of hand-held phones while driving have failed to reduce crashes, according to research conducted by the Highway Loss Data Institute.