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Hyundai, Kia MPG Apology (11/2/12)

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  1. General Motors2:22
  2. New Jersey3:41
  3. GM2:54
  4. Automotive News5:02
  5. Carla Thomas2:59
  6. Financial Times3:10
  7. Group 1 Automotive2:41
  8. Hurricane Irene3:46
  9. US Environmental Protection Agency1:00
  10. Report card4:19

Fri, 2 Nov 2012|

After EPA probe, top execs, including Krafcik, admit misstating mileage; October winners, losers; 'long climb back' from Sandy.

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Automatically Generated Transcript (may not be 100% accurate)

Thanks for stopping in on this Friday. Familiar territory for some storm hit dealers will explain later run but first today's top news stories. It admission by curry an auto giant Hyundai and Kia. The Detroit news says the auto makers admitted to overstating. The estimated fuel economy. Posted on window stickers of about 900000. Vehicles sold since late 2010. The newspaper says that top US executives at Hyundai and Kia. Including Hyundai CEO John -- check. Apologized. In an interview and that the company is we'll spend millions of dollars to compensate owners further faulty claims. That company's making that move in response to an investigation. By the US Environmental Protection Agency. The news says Hyundai will have to retract its claim. Of leading the industry by having form models they get forty miles per gallon on the highway. According to records obtained by the paper. Mileage estimates on the 2013 accent. But lost her anti lunch -- will fall to thirty seconds or 38 and PG. That paper says the mileage reductions are unprecedented. In the industry. Now -- quick look at the winning free and in yesterday's US sales reports. MRSA Smart tripled sales told -- a pack of gainers. Fiat and sign on -- ranked second and third. -- fresh entries on our monthly top five list Porsche and -- followed. On the losing fly. -- and Land Rover had the biggest slide and link in a ball low end Mitsubishi's. Overall industry sales rose 7%. And that seasonally adjusted annual sales rate fourteen point three million. That was about a half million units below forecasts. Reflecting -- poll taken by hurricanes Indy. In the last three days of the month. Two storm related notes to pass along. In General Motors is offering 500 dollar purchase and -- discounts to G vehicle owners whose cars were damaged by CNV. This ban applies to owners in areas identified by the Federal Emergency Management Agency. And runs through the end of the year. And Group 1 Automotive says it's 24 East Coast dealerships. Are facing two million dollars in inventory losses. After the massive storm. Finally it GM is close to putting former both weigh in and continental AG executive. Carla Thomas new man in charge of Opel. At least that's what sources are telling the Wall Street Journal. The potential appointment. Also reported by Financial Times to insulin. He GM's German brand it currently has an interim CEO. Turnaround specialist Thomas centering. Slowly getting back to normal and other dealers who worked to get business back up and running after a superstar and sandy. It's an all too familiar scenario for some of that. Great read the book exceed -- movie pick -- this story and you know along. Climb back. Jim Appleton and president of the New Jersey coalition of automotive retailers. Says dealers who were affected by Hurricane Irene last year. We're prepared for sandy and are making their way through the recovery. He says state and local officials have been helpful. Offering assistance to those who might need to re locate facilities. And it Elton explains the garden state makes money a new car sales through among other things. Upfront vehicle -- is is 7% sales tax and street and any finish and fuel surcharges. Stated maturity. -- Report card is still wouldn't call are as a record deal -- Oh believe -- he has state officials are very. Interest in doing everything they can't help oh arguments get backup operation. -- and apple ten expressing gratitude for other dealers across the country who have offered words of support. To be affected dealers. Our business news is cutthroat and competitive but what -- Finger that. The industry as subtle way of altogether. So I think it's very gratified. Has -- business dealership or life been affected by sandy. It's so Automotive News reaches out to you tell your tail and post your pictures at auto news.com. Slash FaceBook. We'll highly -- Sutter page and we make contact you weren't upcoming story. We thank you for watching have a safe weekend.

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    It's Tuesday and you're watching first step I'm Ursula is a rally. Coming up how Nissan is putting ladies first in Japan. Now Jennifer Vaughn is in the newsroom at your headlines. Things are Islam. Twit you know is changing the way it pays factory workers in Japan and then keep financial daily reports that the new system will focus on performance instead of seniority. The auto makers labor union has been told the plan. Toyota hopes to roll it out to about 60% of its workers in January. 1 goal attracting young talents. Here now are some more detail on billionaire George Soros says plans to invest in car dealerships. Two sources who heard a representatives speak any private dinner in San Francisco this weekend tell Automotive News. That Soros Fund Management is prepared to invest as much as one billion dollars in the business. The representatives said Soros has no intention of running car dealerships. The fund's goal would be to keep the current management in place and help with that capital strategies. The firm is set to be talking with several interested parties. The latest telling you for confirmed deaths are linked to defective at General Motors ignition switches its fifteen. The deadline for filing claims is this Saturday. Kenneth Feinberg the victim's compensation attorney hired by GM to a suspect claims. Exposed to be reviewing Perry class well into a sprained. Check back. Finally the hair raising power in performance of the AMG GT. That's what Mercedes will be touting in its approval added this Sunday. The latest tape and the tortoise vs hare fable. Made its debut on the Ellen DeGeneres show yesterday. Why create TV buzz now. Burst in any marketing VP drew Slavin says half the purpose of AC global ad. Is getting people involved in the discussion before the game. What is the what what you write toilet like mail for Allison can you explain what Internet as. I mean. What is I three anyway Allison BMW unveiled its commercial on The Today Show earlier yesterday. You can watch if not ears of Super Bowl ads at auto news.com slash super ads Ers flown back to you. Thanks Jennifer and he said he plans to put more females to work in Japan by doubling the number of sales woman took 14100 but 2018. And funny thirteen the auto maker began designing Japanese dealerships for mothers. By putting many cars on the show floor and offering nursing rooms and play areas for children. On Friday the auto maker said it will triple its ladies first dealerships. To 300 in the coming fiscal year and aims to have 700 by 2018. According to Bloomberg. And we'll stay with Nissan for a first shipped back to. Yeah. One million that's the number of vehicles automaker has exported from United States. This vehicle was manufactured in sneer at Tennessee and will be sold in South Korea. Nissan has been building cars in the U lasts for 31 years. It's two US plants now export vehicles to 68 global markets. To have achieved more million units of exports. Proved so we're making it attractive. I'm globally competitive products. And that's our show for today thanks for tuning in.

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