TrueCar.com?s daily industry news summary for Monday, June 25, shares the most important news from across the automotive industry.
TrueCar in the News
Chevy Cruze recalls over fire concerns shouldn?t have lasting impact ? MLive.com
New cars have lesser problems ? Gulf News
Honda finance arm is a leasing powerhouse ? Automotive News
The GM Plant that refuses to die, searching for Mr. Scarce Car ? Jalopnik
In a Silicon Valley milestone, Tesla motors beings delivering Model S ? Oakland Tribune
Tesla?s new sedan will make or break the company ? My Desert
TrueCar Racing
Star Mazda ? Freiberg Scores Second Top-10 At Iowa ? Auto Channel
2012 Iowa: Chevrolet IndyCar Qualifying Recap ? Paddock Talk
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Press Releases/Blog Posts
Pricing: 2013 Lexus GX 460 Luxury Utility Vehicle
June 2012 New Car Sales Expected to Be Highest June Since 2007 According to TrueCar.com
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Industry
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Auto News
Tesla delivers first cars to customers; predicts one-hour recharging time
? Tesla predicts the vehicle can be recharged in just one hour
? The vehicle goes 300 miles
? One Tesla Model S is built a day at the factory for quality-control reasons
? The plant will ramp to 80 cars a day by year?s end
? An annual pace of 8,000 units from a single shift
? Tesla has 9,800 reservations worldwide after the first quarter
? A buyer that makes a $5,000 reservation will have to wait until May 2013 for a Model S to be delivered
? Tesla has 12 US factory stores and will add 10 new ones this year ? some will replace older stores
Detroit News
Toyota to ship French-built Yaris to US
? Toyota will start producing Yaris subcompacts at a French plant for export to North America
? It will ship 25,000 vehicles a year starting in May 2013
? This is the first time they will ship cars from Europe
? Toyota will invest 8 million euros, or $10.4 million? ? they will export only gas-powered Yaris
Auto News
Honda finance arm is a leasing powerhouse
? Honda finance lease deals accounted for more than 16% of all new-vehicle lease transactions industrywide ? that led Toyota Financial, Ford Motor Credit and Nissan Infiniti Financial which had about 11%
? Leasing is becoming a larger part of automakers? finance portfolios and LeaseTrader predicts leasing could represent as much as 40% of the new-vehicle market by 2020
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Vehicles
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Auto News
Chevy Spark outdoes rivals? content, space
? Arrives in showrooms in August or September
? The car is sold in other markets, but for North America the car received a stiffer suspension and larger tires
? Available as a five-speed manual and four-speed automatic
? Electric power steering was also added, which will help to get better fuel efficiency
? The vehicle has Chevrolet?s MyLink infotainment system with a 7-inch touch screen? ? the rear seat has space to fit two adults
? Spark is available in a wide variety of new off-the-wall colors, like jalapeno, techno pink and lemonade
USA Today
? Team designed the vehicle in Michigan
? It?s a large family sedan ? a class of vehicles that really only exists in the US
? It has been around since 1994 and was previously designed in Japan, because that was how Toyota operated ? but the change comes with the 2013 model
? Development began in 2008 and ?09 and a team of young engineers near the tech center near Ann Arbor stepped into the development
? Teams from both Ann Arbor and California collaborated
USA Today
BMW recalls X5, X6 crossovers over steering defect
? BMW is recalling 2,642 2012-13 BMW X5s and 2013 BMW X6s due to incorrect manufacturing of the steering system
? Power steering fluid could possibly leak into the engine compartment which would cause a loss to the hydraulic power steering, making it more difficult to steer
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