2014 Chevrolet Silverado 1500 Lt on 2040-cars

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Autoblog Minute: VW finds CO2 'irregularities', Takata dropped by automakers, SEMA recap

Volkswagen's diesel emissions scandal gets a new wrinkle, US regulators hit Takata Corporation with a substantial fine, and we head to Las Vegas for a look at tuner paradise at the 2015 SEMA show. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Volkswagen's diesel emissions scandal gets a new wrinkle. US regulators issue a significant fine to Takata Corporation. And we take a peek inside tuner paradise at the 2015 SEMA show. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. The VW diesel emissions scandal, first brought to light in September, gets a new wrinkle, as an internal investigation by the German automaker revealed [00:00:30] irregularities in CO2 emissions that could affect approximately 800,000 vehicles. VW estimates the issue could pose a 2-billion euro economic risk. VW claims that most of the vehicles affected have diesel engines, but industry analysts say a 1.4-liter gas engine is also affected. VW says that fuel consumption figures were set too low during the CO2 certification process. During all of this, sales of some diesel-powered Volkswagen, Audi, and Porsche models [00:01:00] have been halted. Takata Corporation is back in the news in connection with its deadly airbag scandal. Federal regulators fined Takata $70 million. If the parts supplier does not comply, the fine could balloon to $200 million. Takata was also dropped this week by its biggest customer, Honda. And now, Toyota and Mazda will be following Honda's lead in dropping Takata. We're also hearing that Mitsubishi and Subaru are considering a switch in air-bag inflator suppliers. SEMA 2015 [00:01:30] came and went. We saw offerings from Mopar, like the AWD Challenger concept. Honda unveiled a Ridgeline that it will race at the Baja 1000, which gives us a hint at what future production model could look like. The celebrity presence was also felt in Vegas as it always is. Kid Rock brought a Duramax Diesel Chevy Silverado, and Acura restored and presented Ludacris with his now famous 1993 Acura Legend. Those are the highlights from the week that was. Be sure to come back on Saturday for my full recap, [00:02:00] where I'll have some added insight into Hyundai's foray into the luxury sector. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive.

GM raises 2023 guidance on strong sales, higher profits

General Motors beat first-quarter profit estimates and raised its full-year earnings and cash-flow guidance after vehicle demand at the start of the year surpassed expectations. Its shares rose in premarket trading. GM made $2.21 a share in adjusted profit in the first quarter, compared to a consensus forecast of $1.72 a share. Revenue rose 11% to $39.99 billion, it said Tuesday, which was more than the $39.24 billion analysts expected. The stronger results stem from rising sales in the US, even in the face of higher interest rates and inflation. GM executives said demand was strong enough to revise 2023 guidance upward, boosting profit estimates for the year by $500 million to between $11 billion and $13 billion. “We did it with strong production and inventory discipline and consistent pricing,” GM Chief Financial Officer Paul Jacobson said on a call with journalists. “All in all, weÂ’re feeling confident about 2023.” The Detroit automaker raised per-share full-year guidance to between $6.35 and $7.35, up from $6 to $7 a share, and said free cash flow would also increase by $500 million to a range of $5.5 billion to $7.5 billion.  GMÂ’s shares pared a gain of as much as 4.4% before the start of regular trading Tuesday, rising 3.5% to $35.50 as of 6:55 a.m. in New York. The stock was up 1.9% for the year as of the close on Monday.  North American Strength The automakerÂ’s sales were particularly strong in North America, where first-quarter earnings rose before interest and taxes rose to $3.6 billion. Vehicle sales rose 18% to 707,000 in the region. Jacobson said the company originally expected to sell 15 million vehicles in the US this year, slightly less than the 15.5 million annualized rate automakers foresaw in the first quarter. North American demand was enough to offset a weak performance in China, GMÂ’s second-largest market. The automaker continues to struggle in the country, where its vehicle sales fell 25% to 462,000 vehicles in the quarter. Profits from its joint ventures in the market slumped 65% to $83 million.  The market has struggled overall in the wake of Covid-19 restrictions and foreign automakers have had to overcome a growing preference for Chinese brands by competing on price, squeezing profit margins. The situation in China probably wonÂ’t significantly improve until the second half of the year, according to Jacobson. GM remains on target to sell 150,000 electric vehicles this year, the CFO said.

GM follows up Lambda CUV stop-sale with tire recall

In late January, General Motors announced a stop-sale for about 6,281 examples of the 2015 Chevrolet Traverse, GMC Acadia and Buick Enclave because of the possibility for the treads cracking on their 18-inch Goodyear Fortera HL tires. At the time, GM said that this would also eventually lead to a safety campaign to repair the problem, and the National Highway Traffic Safety Administration has just published those details. GM's recall covers 5,876 of the three Lambda platform crossovers to replace their tires. According to NHTSA, if the treads crack, there could be a loss of pressure and possible failure. Goodyear already announced its own recall of the tires after internal testing found small tread cracks. The company did not believe this was safety issue, but the problem did put the rubber out of compliance with federal laws. The business's safety campaign covered an estimated 48,512 tires. Of those, around 32,000 were reportedly made for GM to either be fitted to vehicles or sold as replacements. The remainder went to the aftermarket. Goodyear's portion of the recall is expected to begin around February 20. RECALL Subject : Tire Tread Cracking/FMVSS 110 Report Receipt Date: JAN 28, 2015 NHTSA Campaign Number: 15V044000 Component(s): TIRES Potential Number of Units Affected: 5,876 All Products Associated with this Recall Vehicle Make Model Model Year(s) BUICK ENCLAVE 2015 CHEVROLET TRAVERSE 2015 GMC ACADIA 2015 Details Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2015 Buick Enclave vehicles manufactured December 9, 2014, to January 14, 2015, 2015 Chevrolet Traverse vehicles manufactured December 9, 2014, to January 20, 2015, and 2015 GMC Acadia vehicles manufactured December 9, 2014, to January 16, 2015, and all equipped with Goodyear P255/65R18 Fortera HL tires. These vehicles are equipped with tires that may experience tread cracking. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) No. 110, "Tire Selection and Rims and Motor Home/Recreation Vehicle Trailer Load Carrying Capacity Information for Motor Vehicles with a GVWR of 4,536 kilograms (10,000 pounds) or Less." CONSEQUENCE: If the tire treads crack, a loss of tire pressure and possible tire failure may result, increasing the risk of a crash. REMEDY: GM will notify owners, and dealers will replace the tires that were manufactured within a specific date range, free of charge.