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U.S. economy shows signs of rebounding

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Posted in Auto Industry News, Auto Loans & Financing News

After a rather trying 2009, it seems the U.S. economy has begun to pick up steam. Two separate reports by offices of the Federal Reserve have indicated that the economy has experienced moderate improvement over the last few months.

On Wednesday, the Federal Reserve released the latest Beige Book, which is a nationwide survey of economic conditions based on information collected from the Fed’s 12 regional bank districts.

Officials with the New York region – which includes New York, New Jersey and parts of Connecticut – said the local economy flashed further signs of improved strength and that many manufacturers are planning to increase capital spending and employment in the coming months, according to the Associated Press.

The report also indicated that the majority of retailers reported sales ahead of expectations, although the recent snow storms did hinder business in some areas.

Meanwhile, Richard Fisher, president of the Federal Reserve Bank of Dallas, said on Tuesday during an interview with PBS that the entire U.S. economy was “not robust but improving,” according to the Wall Street Journal.

Nissan to recall more than 500,000 cars

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Posted in Nissan

On Thursday, officials with Nissan announced that they will be recalling approximately 540,000 cars worldwide due to brake malfunctions and incorrect fuel gauges.

The safety initiative will involve six Nissan brands, including the Titan, Armada, Frontier, Pathfinder, Quest and the Xterra, making it the largest recall in the company’s history. Most affected models were produced between 2008 and 2010, and the majority of the vehicles being recalled were sold in the U.S.

The Nissan Titan and Armada are being recalled for faulty brake pedal pins, while the rest of the vehicles are being brought back to fix fuel gauges that inaccurately display the amount of gas left in the tank. Due to the issue, some Nissan models may run out of gas even though the fuel gauge indicates there is still an adequate supply, the Christian Science Monitor reports.

“Keep at least half a tank showing on the fuel gauge and you won’t have to worry about running out of fuel,” recommends company spokesman Fred Standish.

The automaker will be sending out notices to owners of recalled vehicles in the next few days.

Longtime GM executive to retire in May

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Posted in Auto Industry News, General Auto News

General Motors vice chairman Bob Lutz, a longtime executive who had a hand in developing some of the company’s most popular vehicles, announced on Wednesday that he will retire from the automaker effective May 1.

Lutz, 78, had actually planned on retiring at the end of last year, but agreed in July to remain head of sales and marketing operations. He was one of the few members of upper management to be kept on after the company filed for bankruptcy protection last year, according to The New York Times.

“The influence Bob Lutz has had on GM’s commitment to design, build and sell the world’s best vehicles will last for years to come,” said Ed Whitacre, General Motors CEO.

“I, along with many other men and women at GM and throughout the industry, have greatly benefited from his passion, wisdom and guidance,” he added.
Lutz, a former marine pilot, championed many of GM’s most influential vehicles, including the Chevy Volt, Saturn Aura and the Chevy Silverado pickup.

The news of Lutz’ retirement comes only a day after the American automaker announced that it will shakeup its executive ranks and reassign some managers to separate sales and marketing responsibilities.

Naomi Campbell involved in alleged assault case

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Posted in Cadillac - DO NOT USE, Celebrity Auto News

Supermodel Naomi Campbell will likely not face charges after her driver told New York police on Tuesday that she assaulted him while he was driving her Cadillac Escalade.

The 27-year-old driver claimed that Campbell slammed his head into the steering wheel of her SUV while the car was in motion, according to the Associated Press. The driver, whose name has not been released, reportedly had a small bruise and some swelling under one of his eyes.

Campbell was not at the scene when police arrived and has yet to speak with the authorities regarding the matter. The 39-year-old will most likely not face any legal trouble though, as the driver decided not to file any criminal charges. It is still unclear whether he will pursue the matter in civil court.

This week’s incident is not the first time that Campbell has shown up on the radar of police because of her temper. In 2008, the British supermodel was sentenced to 200 hours of community service after pleading guilty to assaulting two police officers at an airport. She was also forced to attend anger management classes after throwing a cell phone at her housekeeper in 2007, according to The Washington Post.

Auto website offers $1 million prize for the cause of Toyota’s accelerator problems

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Posted in General Auto News

With the congressional hearings concerning Toyota‘s safety recalls now completed, an automotive website has issued a challenge to car junkies and auto mechanics everywhere: Decipher the cause of the Japanese automaker’s unintended acceleration problem and win $1 million.

On Tuesday, Edmunds.com identified unintended acceleration as a chronic issue that has been “festering” for 20 years. They believe that the error may not necessarily be related to the recent recalls.

According to officials with the website, the $1 million cash prize will go to a person who can “demonstrate in a controlled environment a repeatable factor that will cause an unmodified new vehicle to accelerate suddenly and unexpectedly.”

Edmunds is hoping to attract the brightest minds in the automotive world to help figure out what is really causing sudden unexpected acceleration in brand-new vehicles.

Meanwhile, the auto website also blasted the National Highway Traffic Safety Administration for not accomplishing what Edmunds hopes to.

“Many incidents are not fully addressed by recalls,” said the website. “NHTSA is responding to the challenge with more of what they have already done: additional investigations. Isn’t it time to try a different approach?”

Edmunds is currently drafting rules for the prize, and will announce them later this month.

GM issues recall of 1.3 million Chevy and Pontiac models

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Posted in Chevrolet, Pontiac - DO NOT USE

On Tuesday, General Motors announced that it is recalling approximately 1.3 million compact cars in North American due to a problem with the power steering system.

The recall was initiated after U.S. safety officials received more than 1,100 customer complaints. The safety initiative will cover 2005-10 Chevrolet Cobalt models and 2007-10 Pontiac G5s in the U.S as well as the 2005-06 Pontiac Pursuit in Canada and the 2005-06 Pontiac G4 sold in Mexico.

General Motors has reported that vehicles affected by the recall can still be safely controlled, but the issue may make the steering feel heavier, especially at speeds below 15 miles per hour.

“When the condition occurs, both a chime will sound and a ‘power steering’ message will be displayed,” said GM vice president of quality Jamie Hresko.

The American automaker has said that it is currently working on a remedy to fix the issue and will notify customers when a plan has been put in place, according to Auto News Magazine.

GM customers have reported 14 crashes and one injury related to the steering problem.

Danica Patrick crashes in her final spring NASCAR race

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Posted in Celebrity Auto News, Chevrolet, Dodge - DO NOT USE

On Saturday, racing superstar Danica Patrick wrecked in her third and final NASCAR race before she will head back to the IndyCar Series.

Patrick, who has had an unceremonious beginning to her NASCAR career, collided with Michael McDowell on lap 83 of this weekend’s Sam’s Town 300 Nationwide Series race.

After getting fresh tires, Patrick quickly caught up to McDowell’s slowing Dodge that had lost its rear end in a previous accident. Outside of turn one, Patrick tried to pass McDowell on the inside, but he drifted low into her path, causing her number 7 Chevy to wreck. The accident ended the day for both drivers.

“I tried to give the outside, I saw her coming into it and I closed the door,” said McDowell. “It was completely 100 percent my fault. I hate it for everyone at JR Motorsports. Like I said, I take 100 percent responsibility.”

The crash was especially unfortunate for Patrick, who was having her best race of the season and even found herself in third place after a strategic pit stop.

The media darling will now head to the IndyCar Series for four months before coming back to NASCAR for a few races at the end of the summer. Veteran driver Kevin Harvick took the checkered flag on Saturday after leading 83 of the 200 laps.

Toyota’s customer loyalty ratings slip

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Posted in General Auto News, Toyota

Toyota Motor Corporation’s recent safety recalls have apparently taken their toll on their customer base. A recent survey by Consumer Reports found that 60 percent of current Toyota owners said they would most likely remain loyal to the brand when the time comes to purchase a new car, down 10 percentage points from a December 2009 study.

Due to the slippage, Toyota has fallen behind Honda and now sits at second on the customer loyalty rating list.

“The intense publicity surrounding Toyota’s recent recalls seems to be having a pronounced effect on the company’s image among its current customers,” said officials with Consumer Reports, quoted by Auto Week.

However, even with the decline, Toyota remains significant percentage points ahead of Chevrolet and Ford in terms of customer loyalty.

Approximately 50 percent of current Ford and Chevy owners said they would most likely stay with their respective brands.

The most recent survey was conducted before the U.S. Congressional committee hearing last week. Approximately 6.5 million Toyota vehicles have been recalled in the U.S alone over the last six months due to safety concerns.

Top hybrid cars of 2006

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Posted in Honda - DO NOT USE, Lexus - DO NOT USE

Due to the fluctuating nature of gas prices, many consumers have decided to invest in a hybrid car to help save money and ensure a predictable monthly budget. Prospective car buyers in the market for a used hybrid vehicle in New Jersey may want to check out the Honda Civic Hybrid and the 2006 Lexus RX 400h, two of the best selling, most energy-efficient cars manufactured in 2006.

Honda completely redesigned the Civic Hybrid in 2006, adding supplementary safety, performance and refinement features. New standard equipment includes side curtain airbags, front-seat airbags, four-channel anti-lock brakes with electronic brake distribution and a telescoping steering wheel.

The ’06 Civic Hybrid is powered by Honda’s integrated motor assist system, which consists of a 1.3-liter V4 gas engine combined with an electronic motor and a continuously variable transmission, according to MSN Autos.

The new powertrain is capable of producing 110 horsepower and is even more fuel efficient than the previous year’s model. Honda’s most popular hybrid gets 50 miles to the gallon in the city and on the highway.

Meanwhile, consumers who are looking to purchase a slightly more sophisticated energy-efficient vehicle may be interested in the Lexus RX 400h, which was the most popular luxury hybrid sports utility vehicle manufactured in 2006.

The super ultra low efficient vehicle-rated (SULEV) RX 400h is equipped with a new hybrid system that combines a 3.3-liter V6 engine with three electric motor-generators, according to Edmunds.com.

The hybrid SUV’s powertrain produces 268 horsepower and boasts a EPA rating of 33 miles per hour in the city and 28 mpg on the highway. The RX400h can accelerate from 0 to 60 mph in just 7.2 seconds, an impressive number considering the fuel-efficient nature of the vehicle.

What sets the ’06 Lexus apart from other hybrids is its plethora of standard features, including “dual-zone climate control, GPS navigation, power seats, power windows, a power liftgate, rear-seat DVD, a megawatt audio system by Mark Levinson,” the news source reports. “You can run all that stuff at the same time without any fears of draining the battery.”

NYC ranked 20th best U.S. city for auto repair

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Posted in Ford, General Auto News

Owners of used cars in New York have reason to celebrate; repair shops in your home city generally provide customers with fair quotes for auto repair. In a recent study by AutoMD.com, titled Advocacy for Repair Shop Fairness, researchers ranked New York City as the 20th best large U.S. city for auto repair.

To conduct the research, AutoMD.com had mystery shoppers stop by over 600 maintenance shops in the 50 largest U.S. cities and request a quote on a typical auto repair job – a front brake pad replacement for a 2004 Ford Focus. The top 50 list was calculated based on each city’s average repair affordability, price disparity between shops in the same city and general shop integrity.

New York City ranked 16th in repair affordability, 32nd in price disparity and 19th in shop integrity.

“Doing your research is critical to getting a fair shake at the repair shop,” said AutoMD President Shane Evangelist. “Fortunately, car owners now have access to online tools so they can compare local repair shops, establish a local market repair invoice price and make sure that they get a fair deal.”

Overall, Memphis topped AutoMD’s list, while Chicago was ranked dead last.