Auto Industry, Automaker | featured news

General Motors Co has begun to work on the U.S. regulatory filing needed for an initial public offering but does not expect to have that ready in the next two weeks, Chief Executive Ed Whitacre said on Thursday.

It's the kind of publicity any university might dream about: An instructor uncovers a possible flaw that's causing some of the world's most popular cars to accelerate suddenly. His ground-breaking work attracts interest from Congress and reporters worldwide.

Chrysler Group LLC will offer consumers a 60-day, money-back guarantee on new vehicles and also make the first two months of payments for buyers, as it tries to shore up sales amid lackluster consumer confidence.

Electric-car maker Telsa Motors, which makes a luxury all-electric car that sells for $109,000, hopes to raise $178 million from its IPO, which could debut on Nasdaq on June 29.

Chrysler is recalling more than 683,000 Jeep Wranglers and Chrysler and Dodge minivans for brake or wiring problems.

Ford said Tuesday it would stop production of Mercury vehicles in the fourth quarter and discontinue the brand.

General Motors said its U.S. sales in May jumped 32% for the four brands the company kept after its restructuring thanks to continued strong demand for crossover vehicles and cars.

The U.S. Treasury and General Motors Co may select a lead underwriter for an initial public offering for the automaker as early as next week, Bloomberg News reported on Saturday.

Nissan Motor Co recalled Infiniti G35 sedans and coupes affecting as many as 134,000 cars due to a connector that could cause airbags not to deploy during a crash.

General Motors said its domestic sales in April rose 20% for the four brands the company is keeping thanks to continued strength in crossover vehicles and cars.