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AUTOS' NEWS
Tentative Agreement * USA - Honda settles suit over defective odometers - Plan includes Acura; customers will be reimbursed for repairs, warranties will be extended
Washington,DC,USA -The Detroit News, by David Shepardson -Feb 20, 2007: -- About 6 million Honda and Acura owners will get extensions of leases or warranties, or in some cases refunds, as part of a $16 million-plus settlement stemming from faulty odometers, which chalked up miles too quickly... Because of the defective odometers, warranties expired earlier than they should have... As part of a tentative class-action settlement, American Honda Motor Co. will: * Extend by 5 percent the mileage-based coverage period of its warranties. * Extend mileage allowed in leases by 5 percent. * Reimburse customers for repairs made just after their warranties expired. * Refund $6.1 million in fees for exceeding mileage limits to about 25,000 former leaseholders -- who will receive $265 each...
* South Korea - Hyundai Motor plans to assemble vehicles in
Seoul,South Korea -Associated Press /The Detroit News, by Kelly Olsen -Feb 20, 2007 -- Hyundai Motor Co., the world's sixth-largest automaker, said Tuesday it plans to export vehicle parts and components to be assembled at a locally owned plant in Brazil... Hyundai will cooperate with Sao Paulo-based Caoa Montadora SA, which distributes Hyundai vehicles as well those of Ford Motor Co. in the South American country, said Hyundai spokesman Jake Jang...
* USA - Volkswagen’s US SOS
USA -The Truth About Cars, by Justin Berkowitz -Feb 20, 2007: -- The automotive media have their hands full chronicling the slow motion train wreck known as The Big 2.5... But there's another pile-up in progress. Here in the States, Volkswagen of America (VWoA) has transformed itself from a highly profitable purveyor of mesmerizing motors to a struggling brand with an ugly, overpriced and unpopular lineup. To properly parse this fall from automotive grace, let's start with the Phaeton...
* North Korea - Bans Japanese cars
N. Korea -edmunds.com (USA), by Bob -Feb 20, 2007: -- This is just too goofy. Is there a full moon out, or what? First news of the possible Chrysler auction, and now this...North Korean leader Kim Jong-il has ordered the seizure of all Japanese-made cars in the communist country after he spotted a broken-down model blocking a road... The funny thing most cars in North Korea—are Japanese! This should be fun to watch...
* USA - Hyundai - Chrysler?
USA -edmunds.com (USA), by Bob -Feb 20, 2007: -- With the news that the Chrysler Group could be up for sale, there are bound to be a bunch of rumors flying around of possible suitors... The latest is a story coming out of the UK is that Hyundai may be interested in buying Chrysler. The TimesOnline is reporting that Hyundai is very interested in having access to Chrysler's dealer network. The report goes on to say that besides Hyundai there were several other potential buyers, including Chinese groups and private-equity firms...
Labels: autos' news
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