The National Highway Traffic Safety Administration has closed an investigation into Chinese-made tire valve stems on more than 1 million 2007 and 2008 model Ford Motor Co. vehicles.
Ford agreed in a letter to NHTSA this month to mail letters to the owners of most 2007-08 model vehicles, reminding them to check their tires and keep them properly inflated. NHTSA said drivers can go to a dealer and get a free inspection of the valves.
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Honda Motor Co. ran up a $1.9 billion loss during the fourth quarter of the Japanese fiscal year because of lower revenues, higher raw materials costs and unfavorable currency trends.
Honda managed, however, to show a $1.4 billion profit for the year ended on March 31 when it reported its full-year results Tuesday.
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While most car companies continue to weather the economic storm and historic low car sales, Audi AG seems to be bucking the trend. The German luxury carmaker, which is owned by Volkswagen AG, has overtaken BMW as the top luxury carmaker in Europe. It also is No. 1 in China.
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