Lexus topped the rankings in Consumer Reports's 2013 automotive brand report card. Detroit automakers didn't fare very well -- Cadillac's 14th place tie was the best for U.S. brand -- while Japanese automakers again dominated, taking eight of the top 10 spots.
Ford CEO Alan Mulally and Executive Chairman Bill Ford, have been awarded $56.5 million and $42.4 million in stock, respectively, in recognition for the company's stunning turnaround, which resulted in the automaker raking in $6.6 billion last year -- its best performance in more than a decade.
Toyota's recent spate of quality woes have allowed competitors to steal sales from the beleaguered automaker. Ford is also catching up with Toyota in another important measure of auto industry success -- consumers' opinions of vehicle brands.
Swedish automaker Volvo is recalling 7,420 sedans and wagons to fix seats that may allow front passengers to move the seats too far forward, putting them at risk of injury in a crash, federal safety officials said Monday.
VW has set a hefty goal for itself: to displace Toyota as the world's No. 1 car company. The German automaker is actually within reach, thanks mainly to its huge lead in China. To overtake Toyota, however, VW will need to really ramp up sales in the American market.
Although Honda and Toyota remain the benchmark of reliability in the U.S. automobile industry, General Motors has made considerable strides in improving the quality of its cars and trucks, according to the magazine's 2010 Annual New Car Reliability Survey.
Swedish automaker Volvo is recalling 9,746 cars in the U.S. to repair driver's side airbags that may not deploy during a crash, the National Highway Traffic Safety Administration reported Wednesday. Models affected are the 2010 and 2011 S80 and XC70; the 2010 V70; and the 2011 XC60.
Addressing recent reports that Ford is looking to pull out of its partnership with Mazda, the head of the Japanese carmaker said Wednesday that the alliance remains intact. "We have an agreement with Ford," Mazda CEO Takashi Yamanouchi said. "We are not considering alliances with others at all."
U.S. auto sales started off strong over the Labor Day holiday weekend, but have since dropped significantly, according to analysis by car-buying guide Edmunds.com.
Geely put up $1.3 billion cash for Volvo and issued a note worth $200 million, Ford said in a statement. Ford expects to receive extra proceeds after a later price "true-up."
Ford Motor is set to deliver strong earnings when it reports second-quarter results Friday. After disastrously low sales in 2009, the auto industry as a whole has been in recovery mode this year -- and Ford has been one of the biggest beneficiaries of the revival.
On Sunday, a pivotal deal got done that highlights China's growing power: Zhejiang Geely Holding announced an agreement to buy Volvo Cars from Ford. Geely's ambitious founder Li Shufu has a goal of selling 200,000 Volvos in China by 2015. Ambitious? Yes. Easy? Not at all.
