Hyundai Mobis Won Combined $233 Million Order

Hyundai Mobis, An affiliate of the Hyundai Motor Group, said today that it won a combined $233 million order from Japan’s Mitsubishi Motors and Subaru to supply automotive lamps in what will be its first parts supply to Japanese automaker. The deal comes as Japanese and other car makers are increasingly looking at South Korean parts makers which offer cheaper, quality products as opposed to their Japanese rivals struggling with the strong yen...

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Skoda Fabia RS 2000 Concept debuts at Worthersee 2011

While the annual Worthersee event is focused around Volkswagen brand cars, mainly the GTI, Volkswagen Group AG’s Skoda brand decided to steal some spotlight with the debut of the new Fabia RS 2000 design concept. “These days, the GTI-Treffen is rightly hailed by fans of powerful engines and sporty customization as the Mecca of car tuning,” says Skoda boss Winfried Vahland. “Anyone who comes to the event once never wants to miss...

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Ford adds 1.0L 3-cylinder EcoBoost to U.S. market, 8-speed transmission

Automaker Ford has just confirm that it is expanding it range of the EcoBoost engines in North America with the new 1.0 liter, 3 cylinder EcoBoost and a new 8-speed automatic transmission. The engine is the smallest engine the Ford has ever built and the 8-speed transmission is Dearborn automaker’s first. “Consumers are telling us they want to buy affordable vehicles that get many more miles per gallon,” said Derrick Kuzak, Ford group...

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Consumer Paid More For The Month Of May

Last month, consumers paid more when shopping in the U.S. auto market. This is according to auto information company Edmunds.com. They paid more and have fewer choices, Edmunds said. For the month of May, customer that bought a vehicle, paid about $180 more then in April, $310 more for then the month of February, and $410 more then May 2010. Overall incentives were at the lowest last month since October 2005, and incentives fell for compact -23%...

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Government expects to recover more then foretold from the auto bailout

Government expects to recover more then foretold from the auto bailout as it pulls back financially from the sector, but taxpayers still face billions in potential losses, the White House said. "We'll get back what we get back," Ron Bloom, the Obama administration's point man on manufacturing and restructuring of General Motors Co and Chrysler, said on Wednesday. "It will be what it is." While a long time ago, the administration granted it would...

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NASCAR driver Kyle Busch was cited for going 128 mph

NASCAR driver Kyle Busch was cited for going 128 mph on a 45 mph speed zone. The car he was driving was a Lexus LFA. Busch, “aka – bad boy,” 26, has two other traffic citations on his record and is currently on probation by NASCAR because of a “little rough housing” with competitor Kevin Harvick at Southern 500 at Darlington (South Carolina) Raceway in May 7th of this year. Busch issued an apology in a statement, saying, "I was test driving a new...

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Chrysler has paid back loans.

Chrysler has paid back the money that the U.S. and the Canadian governments, Said the automaker on Tuesday.  It all included; $5.9 billion owed to the U.S. taxpayers and $1.9 billion owed to the Canadians, Chrysler said. "The original loans were repaid in full, more than six years ahead of schedule, along with the payment of accrued interest and additional consideration," said Chrysler, in a statement. This doesn’t mean that Chrysler is debt...

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