Social Car News and OneRiot
- Toyota encounters yet another recall, this time for 135,000 compact cars in Japan and Europe. The recall is due to a software problem that can cause the power steering to stop working. Major sources include: CNBC and Sky News
- GM is finally moving forward with their IPO later this month. The automaker released key details, including the fact that they plan to issue 365 million shares of common stock with a price of $25 to $29 per share. Sixty million shares of preferred stock will also be offered at a price of $50 per share. The goal is to raise around $13 billion. Major sources include: Daily Finance
- We learned Ford is doing quite well in Canada when October sales numbers were released this week. Ford reported that sales have increased eight percent compared to the same time period last year. With overall sales in Canada up 20 percent year-to-date when compared with 2009, it is clear that Ford in North America is on a roll. Major sources include: Vancouver Sun and CBC
- Following Daimler and Toyota's lead, Panasonic has now purchased a $30 million state in Tesla. Panasonic is one of the largest producers of rechargeable batteries, clearly the investment seems quite logical. Major sources include: Bloomberg
- Toyota's luxury division Lexus released sales figures for the month of October, reporting an increase of 8.1 percent for a total of 21,091 vehicles. This beats BMW's reported 19,272 vehicles even with its 17 percent sales increase. Major sources include: BusinessWeek
Well, there you have it: this week's trending automotive social media topics.
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