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Ford Motor Co. (NYSE:F) will update software on 2013 Escapes and Fusions to stop their engines from overheating, a problem that has caused a small number of fires. Reports of nine fires prompted the automaker to recall more than 89,000 of the SUVS and midsize cars in the United States and Canada last month. No injuries were reported and only models with 1.6-liter turbocharged engines were recalled.
General Motors Company (NYSE:GM): According to the Associated Press, German Vice Chancellor Philipp Roesler, who is also their economy minister, criticized General Motors Company over their decision to end car production at their Opel subsidiary plant in Bochum, one of four in Germany. He said GM was wrong to keep their European unit out of lucrative overseas markets.
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Toyota Motor Corporation (NYSE:TM): According to the New York Times, eight Japanese manufacturers, including Canon (NYSE:CAJ), Nikon (NINOY), Nissan (NSANY), Panasonic (NYSE:PC) and Toyota Motor Corporation, have agreed to provide $145 million to bail out Japanese chip maker Renasas. The Japanese government will contribute the rest of the $1.8 billion needed to keep Renesas running, the newspaper added.
Honda Motor Co., Ltd. (NYSE:HMC) plans to launch a “subcompact car-based SUV” that will be smaller than their CR-V crossover. They plan to debut the vehicle next month, the website added.
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