🚗 Car dependability declining

Happy Friday morning. This is Car Alerts with your weekly recap of the latest car news and market happenings.

In today’s edition:

• Vehicle dependability declines

• Q3 financial results from top automakers

• Latest recalls

• and more

MARKETS 📈

HEADLINES 📰

Vehicle owners are experiencing lower levels of vehicle dependability after three years of ownership, according to J.D. Power.

Toyota hikes annual profit forecast after Q3 beats expectations.

Honda lifts annual profit outlook after strong Q3.

Sales of Ford’s Maverick hybrid pickup soar 118% from January 2023.

U.S. safety agency deepens probe of Tesla power steering loss.

Tesla settles California hazardous waste lawsuit with a $1.5M fine.

Ford slows EVs, sends a truckload of cash to investors.

Nissan posts 6% rise in Q3 profit, missing estimates.

SUVs now account for more than half of all car sales in Europe.

Toyota to outshine rivals as more consumers opt for hybrids amid EV slowdown.

BorgWarner forecasts 2024 profit, revenue below estimates.

Rivian will reveal its smaller, cheaper R2 SUV on March 7.

Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV.

GM hires ex-Tesla battery guru Kurt Kelty to beef up its battery efforts.

Ferrari shares surge as strong orders underpin growth.

RECALLS

General Motors recalls 546,000 trucks with tailgates that can inadvertently unlatch.

Hyundai rear inner driveshaft problems have caused a recall of 1,325 vehicles that could suddenly lose drive power.

Nearly 2.2 million Tesla vehicles are recalled because the instrument panel text size may not be correct.

That’s all we have for you this week. We’ll see you next Friday morning with more car content.

Have feedback or want to get in touch? Please send us a note on Twitter (@CarAlerts). We’d love to hear from you.