September 2, 2010

Ferrari recalls Supercars

CARS - Ferrari is recalling 1,248 of its '458 Italia' supercars after fires breaking out in five of the $230,675 USD 560-horsepower supercars in several countries (California, Switzerland, China and France).

The Italian supercar maker says it was using an adhesive glue that can melt or ignite when exposed to overheating, which can lead to the car spontaneously catching fire and/or exploding (see video below). The glue needs to be replaced with mechanical fasteners and the company is asking the owners of 1,248 supercars to bring them in for the replacement, says Ferrari spokesman Stefano Lai.

In other car news...
Auto Sales Stagnating

If you've been watching the slow down and stagnation in the real estate industry you are probably not surprised the automotive industry is doing the same thing. Despite heavy incentives for Canadians to buy, sales of new cars/trucks are only up 0.5% in August compared to August 2009.

Sales for the first 8 months of 2010 are still up 7.5%, but economic stimulus seems to be running out. Ford, Chrysler, General Motors and Hyundai have posted moderate gains, but Toyota, Nissan and Mazda report sharp drops in sales.

In the American market sales dropped a whopping 21% during August, but is still up 8% so far for 2010 compared to the same time period during 2009 (when the USA was in the Great Recession).

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