Tagged: Automakers

The government's employment report for April comes out Friday. It's an important measure of the economy's health and the advance signals have been mixed. One report this week showed layoffs falling to a five-year low, but another suggests disappointing jobs creation.

At least one sector is providing some positive news for the job market: housing.

Rivals Ford and General Motors said Monday they will work together to develop new transmissions aimed at helping them meet upcoming fuel efficiency standards.

The new 9-speed transmissions for front-wheel-drive vehicles and 10 speeds for rear-drive and SUVs and trucks are expected to reach the market by 2016.

Some 3.4 million vehicles produced by four Japanese automakers are being voluntarily recalled due to faulty airbag inflators.

The inflators were installed in some of Toyota's top-selling Camry and Corolla models produced since 2000. Certain Honda Civics and Mazdas are also subject to recall, which also reportedly includes the Maxima and Cube, according to Reuters.

The defective passenger-side airbag inflators were produced by Tokyo-based Takata at a Mexican plant, Reuters says.