Executives from Japan's Takata Corp (7312.T) and two automakers faced tough scrutiny from U.S. senators on Thursday over the risk of millions of potentially defective air bags that can rupture upon deployment, shooting metal shards into cars.
Volkswagen AG's (VOWG_p.DE) growth in China is expected to slow to around 10 percent this year from 16 percent in 2013 due to a conservative strategy that has limited its production capacity, the head of its Chinese operations said on Tuesday.
Daimler AG (DAIGn.DE) will give its new luxury baby, the Mercedes-Maybach limousine, a glitzy world debut at this week's Guangzhou autoshow, even as analysts warn the end is nigh for China's 10-year high-end car sales boom.
In recent weeks, hundreds of thousands of U.S. Toyota drivers have received a stern warning by first-class mail: Immediately drive to your dealer to replace a flawed air bag, and in the meantime don't let anyone sit on the passenger side.
Shares of Takata Corp opened down 1 percent on Friday after the Japanese auto parts maker said it was the subject of a U.S. criminal investigation over defective air bags that have been linked to five deaths.
Auto parts maker Takata Corp (7312.T) offered a "substantive rebuttal" to accusations by two former employees that the company carried out tests on airbags in 2004 in Michigan and found signs of defects but did not report the results to federal regulators, the New York Times reported.