General Motors Recalls More Than 7,000 2020 Chevrolet Corvettes
General Motors is recalling more than 7,000 2020 Chevrolet Corvettes due to the possibility of the hood locks loosening, which could cause the hood to open while driving, according to foreign media reports.
If owners ignore the vehicle's warning that the hood is not locked, the hood could be blown open by the wind while driving. The NHTSA said the hood being blown open could potentially obstruct the driver's view and increase the risk of a crash.
GM spokesman Dan?Flores said dealers will fix the parts in question on the vehicles before selling the 2020 Corvette.Flores said owners have complained about the defect, but it has not yet caused an accident or injury.
As part of this recall, GM will also make the following design changes to the vehicles:
1.? The vehicle body control module software will be updated to limit the vehicle speed to less than 26 mph (about 41 km/h) when the hood is not fully closed, and to indicate on the driver information center that the maximum speed is limited.
2.? The hood open button on the remote key will be modified to reduce the possibility of unintentional hood opening.
3.? The hood open button on the car will need to be pressed for a longer period of time to take effect.
Software changes can be made using OTA, eliminating the need for owners to take their vehicles to a dealer.The NHTSA release shows that "GM will reimburse owners for repairs under the plan submitted on May 17, 2019." GM has already notified dealers on Aug. 18 and will notify owners on Oct. 3. NHTSA said GM will also temporarily halt deliveries of 2020 Corvettes after this recall is issued.
Nissan loan of $6.7 billion? Japanese government guarantees 40% of it
The Japanese government has guaranteed most of the loan amount provided by the Development Bank of Japan (DBJ) to Nissan, according to a foreign media report, a source said. As Japan's second-largest automaker, Nissan's loans total 713 billion yen (about $6.7 billion), of which more than 40 percent have been guaranteed by the Japanese government.
The huge guarantee provided by the Japanese government shows that financial institutions are cautious about providing loans to Nissan. Nissan is currently struggling to stop losing money and return to profitability. According to a person familiar with the matter, Nissan received a 180 billion yen loan from DBJ, of which 104 billion yen was guaranteed by the Japanese government. DBJ and Nissan both declined to comment on the issue, as the source declined to be identified because the news has not yet been announced. Foreign media couldn't immediately reach the Japanese finance ministry for comment.
In May, three other sources said the Japanese government would provide a partial guarantee for a loan to Nissan from Mizuho Financial Group, a move designed to help Nissan weather the COVID-19 outbreak crisis.
Reuters calculations show that if the two guarantees are true, the amount guaranteed by the Japanese government for Nissan would amount to 304 billion yen, or 43 percent of Nissan's total loans.
UK new car sales slump 6% in August
According to foreign media reports, on September 4, the Society of Motor Manufacturers and Traders (SMMT) said UK new car sales slumped 6% year-on-year in August, with just over 87,000 new cars sold, a "disappointing" after dealers resumed operations and sales rebounded in July "A reversal.
Among UK new car sales in August, sales to private consumers were relatively stable, down by just 699 units, while demand from businesses was more subdued, down by 2,650 units compared to the same month a year ago, and down 5.5 percent year-on-year. In terms of segments, demand fell in all but supermini. This follows an 11% year-on-year rise in UK new car sales in July, which saw the first year-on-year increase in 2020.
SMMT chief executive Mike?Hawes said: 'This decline in sales is disappointing, especially after July showed a brief upturn. However, given that August is a relatively slow month for new car sales, one cannot draw too many conclusions from these figures alone." ? He claimed that the true state of the auto market will be better reflected when the peak sales season arrives in September, when the updated age identifiers on license plate numbers attract buyers.
Michael?Woodward, head of automotive at Deloitte UK, said the firm's research showed that nearly half of consumers plan to extend the life of their existing cars, so car sales could fall once consumer demand is subdued.
Changan Auchan Kesai Pro Official Drawing Exposed
On Sept. 7, Changan Auchan Automobile officially exposed a set of exterior drawings of a midsize SUV model and named it Kesai Pro. It is understood that the new car is positioned as a large 7-seat SUV for large Chinese families to travel, with a chassis biased toward comfort tuning, and will offer 5-seat, 6-seat, and 7-seat model versions at the same time. Perhaps it will be unveiled on the market in the near future.
From the pictures, the all-new Corsa Pro adopts the latest Starship design language, with a point-and-shoot matrix grille at the front, paired with a smoked full-LED headlamp combination, which looks very stern and sporty.
The side of the body adopts the upper, middle and lower three-line design, sharp waistline like developed muscle fibers extending from the headlights to the tail, full tail design and richly layered lower fender, with the extra-long wheelbase, so that the whole car visual tall and striking.
It is understood that the new Corsa Pro will use the Blue Whale 1.5T, 2.0T two engines, with which the manual or 6AT, 8AT Aisin transmission, providing two Blue Whale power combination options.
Tesla shares fell 8% in after-hours
Tesla shares fell 8% in after-hours trading on Sept. 4, according to foreign media reports, as the company failed to make it into the S&P 500 index, and investors will have to continue to wait.
Previously S&P Dow Jones Indices announced that online retailer Etsy?Inc., semiconductor equipment maker Teradyne (Teradyne?Inc.) and medical technology company Catalent?Inc. would be included in the S&P 500, while H&R?Block?Inc., Coty Group (Coty?Inc.) and Kohl? s (Kohl?'s?Corp.) will be moved out. Tesla failed to make the S&P 500 in the change.On Sept. 4, Ray?McConville, a spokesman for the S&P Dow Jones Indices Committee, said the committee rebalances the index quarterly, but its member companies change more frequently and "the index committee can make changes to the index at any time."
Dan Ives, an analyst at Wedbush Securities, said in a research note the same day that the S&P 500's decision to leave Tesla out of the index, at least for the time being, may have been based on questions about its "profitability metrics," as well as its uncertain full-year forecast. Ives, who has a "Neutral" rating on Tesla's stock, said, "Tesla's absence from the S&P 500 is a head-scratcher for bulls, who believe that Tesla meets all of its parameters and would surely have been in the S&P 500. "
Tesla's shares have soared 400 percent year-on-year this year, twice as much as the best-performing stock in the S&P 500. the company's shares slumped as much as 8.6 percent on Sept. 4 before ending up 2.8 percent. Tesla shares had fallen 18 percent in the previous three days, hurt by a share reduction by its second-largest shareholder and the company may issue $5 billion worth of new stock.
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