Auto News Roundup:, Toyota Recall Costs and Earnings Update, Ford’s Upcoming Focus, and GM Extending Hummer Purchase

1. According to, “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  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
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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].

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].

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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