General Motors Company (NYSE:GM) is in the midst of a major recall, but it won a legal battle on Thursday in Texas. General Motors was able to fend off a potential court order on Thursday when a federal judge denied a motion that would have forced it to advise the owners of the 2.6 million recalled small cars with a faulty ignition switch to keep the cars off the road until they are fixed.
Tesla Motors Inc (NASDAQ:TSLA) was hit with a lawsuit in Wisconsin earlier this week. The lawsuit was filed by Vince Megna, who is a self-proclaimed “Lemon Law King.” Megna secured the largest lemon law judgment in history at $880,000 from Mercedes-Benz earlier this year.
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Earlier this month, Tesla Motors Inc (NASDAQ:TSLA) sent out a tweet recently that said “#WattsUp: Tesla Superchargers have offset more than 500,000 gallons of gas.” Tesla Motors now has 84 Superchargers in the U.S. and 14 in Europe. Tesla Motors also launched a “mobile” Supercharger unit, which are cheaper and easier to move. The mobile Superchargers can be lifted with a fork lift and it could be installed quickly with less regulatory issues.
General Motors Company (NYSE:GM) has announced that it is expecting to take a $1.3 billion charge in the first quarter related to the ignition-switch recall. The recall addresses an issue where some drivers’ keys could fall out of the ignitions while the car is on.
General Motors Company (NYSE:GM) is planning on launching a cheaper version of the Volt hybrid vehicle with a smaller battery pack and shorter driving range. A smaller version of the next generation Volt, according to Automobilwoche.
Toyota is recalling 6.4 million vehicles across the globe due to 5 separate issues. This recall affects 27 Toyota vehicles, including the Yaris, Corolla and RAV4. It also includes the Pontiac Vibe and Subaru Trezia, which are two models that Toyota built for General Motors and Fuji Heavy Industries.
Tesla Motors Inc (NASDAQ:TSLA) has launched a new lease program fur businesses that wants to use its cars and for tax break advantages. Tesla Motors promised that it would set up a “straightforward and transparent” and “user friendly” lease program.
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Tesla Motors Inc (NASDAQ:TSLA) has received a rating as an “outperform” stock with a $275 price target, said Baird today. Baird said that it believes the recent pullback already has weak results priced in.