Auto News Roundup: CarsForAGrand.com, Toyota Recall Costs and Earnings Update, Ford’s Upcoming Focus, and GM Extending Hummer Purchase
1. According to Heritage.org, “The average American family has savings of only about $1,000.” Fortunately the average American will be able to buy a car if they need it thanks to CarsForAGrand.com. I heard about this website from Jalopnik and started exploring it after. It is like a craigslist for cars that are a grand and under. You can filter out the cars by location too. I highly recommend checking out this website if you are interested in buying a car on a budget.
2. Toyota reported a $1.7 billion quarterly net profit [Detroit News], but the recall will cost about $2 billion this quarter [TruthAboutCars]. Apple co-founder Steve Wozniak complained about the cruise control in his Prius and Toyota acknowledged that it is being caused by a software glitch [Jalopnik]. Below is Jon Stewart’s take on the situation:
|The Daily Show With Jon Stewart||Mon – Thurs 11p / 10c|
|Toyotathon of Death|
3. Ford is rumored to be planning the launch of a special-edition Clubsport RS and a Focus RS which will look similar to the 2012 Focus unveiled at the Detroit Auto Show. The Focus Clubsport will have about 500 units manufactured initially and will have a 2.5L 5-cylinder turbo engine, giving it 350 horsepower [EGMCarTech].
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
4. GM has extended the deadline for Sichuan Tengzhong Heavy Industrial Machinery Co. to buyout Hummer from them. Now Sichuan has up until the end of February [4WheelNews].