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CARMAKERS NEWS * USA & Canada
* DC / USA - Dems slam Ryan for proposing end to $25B fund for clean retooling of auto plants
Washington,DC,USA -The Detroit News, By David Shepardson -August 16, 2012: -- Democrats are seizing on the fact that Republican vice presidential candidate, Paul Ryan, proposed eliminating all remaining funding from a $25 billion auto industry retooling program... The House Republican budget proposal by Ryan, R-Wis., would end all loan programs for green energy efforts, including canceling up to $16 billion in unawarded funds for auto factory retooling...
* DC / USA - Feds: Auto bailout loss $25B. Treasury raises estimate by 15% based on lower GM stock prices
Washington,DC,USA -The Detroit News, by David Shepardson -August 14, 2012: -- The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast... In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update... The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share... On Monday, GM stock closed down 7 cents, or 0.3 percent, at $20.47. At that price, the government would lose another $850 million on its GM bailout... The government still holds 500 million shares of GM stock and needs to sell them for about $53 each to recover its entire $49.5 billion bailout... Treasury spokesman, Matt Anderson, said the costs were still far less than some predicted...
- AUTOS RECALLS -
* DC - GM recalls 10K vans over fire risks
Washington,DC,USA -The Detroit News, by David Shepardson -August 14, 2012: -- General Motors Co. said Tuesday it is recalling 10,000 vans over fire risks in North America.The Detroit automaker said it is repairing 2003-04 Chevrolet Express and GMC Savana vans with 60/40 swing-out driver side doors from the 2003-04 model year in 20 cold weather states and the District of Columbia.GM says road contaminants may become trapped in the conduit that covers the fuel filler pipe causing the filler pipe to corrode.If the corrosion causes a perforation in the pipe and the perforation grows, fuel may leak onto the ground during refueling. Leaking fuel could spark a fire.GM has no reports of fires, injuries or fatalities related to the condition. Fuel vapor may cause smell and a check engine light may illuminate. The recall covers 9,389 vehicles in the United States and 926 in Canada...
* New York - Mercedes-Benz recalls floor mats from ML-Class
(Photo: Mercedes-Benz 2012-2013 ML-Class)
NY,USA -Associated Press/The Detroit News -August 12, 2012: -- Mercedes-Benz is recalling all-season accessory floor mats sold in model year 2012 and 2013 ML-Class vehicles because they could cause the car's gas pedal to get stuck... Mercedes said Saturday that the mats may not conform to the contours of the car's floor. As a result, the gas pedal may not fully retract after the driver stops applying pressure, and the car may not slow down as expected. The company is advising ML-Class owners to remove the accessory floor mats... 
- SAFETY CARS -
* DC / USA - New crash test may prompt safer cars. Just 3 in 11 upscale cars evaluated got a passing grade
Labels: automakers news USA and Canada
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