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China's GAC, BMW Expect China Sales To Grow This Year
GAC and BMW expect sales to grow in the world's biggest auto market - China, as consumption revives from COVID-19 lockdowns.
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China's Changan Ford JV Sales To Grow This Year
Chongqing Changan Automobile Co said on Saturday that sales of the Changan Ford joint venture will grow this year.
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Beijing Autoshow: Demand Rebound, EV Boom Mix With Murky Outlook
The Chinese market's sharp bounce since April, strong demand for midsize to large luxury vehicles and a flood of interest - and investment - in electric vehicles.
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Daimler's Designated Chairman Zetsche Renounces Job
Zetsche says Daimler's top investors would have backed him to succeed Manfred Bischoff but that there may have been opposition from other shareholders.
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Nissan To Launch Slew Of New Vehicles In China Over Next Five Years; Says CEO
Nissan plans to launcha slew of new vehicles in the Chinese market over the next five years.
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Harley-Davidson Close To Deal With India's Hero MotoCorp After Stopping Local Manufacturing: Report
The iconic Harley-Davidson is expected to enter a distribution agreement with Hero MotoCorp to sell its motorcycles, as it winds up manufacturing in India.
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Chinese State Investors To Take BMW Partner Brilliance Private: Report
The deal to take Brilliance China Automotive Holdings Ltd private would be led by state-controlled Liaoning Provincial Transportation Investment Group, which owns 12 per cent of the automaker, according to sources.
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Nikola's Talks With Energy Firms Stalled After Short-Seller Report
Potential partners have been reluctant to move forward with Nikola amid the heightened scrutiny, but a deal could still come together, a recent report suggested.
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Volkswagen In Talks To Sell Bugatti To Croatia's Rimac: Report
Volkswagen is in talks to sell its supercar brand Bugatti to Croatian entrepreneur Mate Rimac, Manager Magazin said on Thursday
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GM Encouraged By Global Recovery, But Not Interested In 'Short-Term Pop' For Stock: CEO Mary Barra
General Motors Chief Mary Barra said that the company was working in the best interest of the shareholders over the long term and wouldn't look at short-term strategies as demand for vehicles recovers in the US and China. A spinoff for its EV division is not on the cards yet.
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Navistar Rejects Traton's Buyout Offer, Calls It Starting Point
Navistar International Corp on Monday rejected Volkswagen truck unit Traton's buyout offer of $43 per share, but said it was a starting point for exploring a possible transaction.The German automaker has raised its $35 per share January offer as it looks to increase its 16.6% stake in the U.S. truck maker Navistar acquired in 2016.
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Chinese Automakers Announce Targets To Raise Hydrogen Vehicle Sales
Chinese automakers have announced plans to increase sales of hydrogen fuel cell vehicles, a niche segment in the world's biggest auto market, and the government is expected to announce supportive new policies, possibly as early as this month.
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Indian Oil Sees Petrol, Gasoil Sales At Pre-Pandemic Levels In First Half Of FY21
Indian Oil Corp, the country's top refiner, expects local demand for petrol and gasoil to reach pre-pandemic levels in the first half of next fiscal year beginning April 2021, Chairman SM Vaidya said on Monday. India, the world's third-biggest oil importer and consumer, has experienced a sharp decline in its fuel demand, mirroring a global trend following the coronavirus outbreak. India's fuel demand in August slipped further and saw its biggest monthly decline since April, while petroleum consumption during April-July witnessed a weak growth of nearly 22.5%.
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Japan Manufacturers Remain Gloomy For 14th Month: Report
Japan's manufacturers remained pessimistic for the 14th straight month in September, and though the gloom eased somewhat the broad results of the Reuters Tankan survey pointed to a painfully slow recovery for the coronavirus-stricken economy. The result underlines the huge challenge the country's next leader succeeding Prime Minister Shinzo Abe will face to boost growth and corporate and consumer sentiment after the economy sunk into its deepest recession on record.
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Singapore Watchdog Fines Ride-Hailing App Grabcar $10000 For Data Privacy Violation
Singapore's privacy watchdog fined ride-hailing app Grabcar S$10,000, saying a 2019 update put the data of some users at risk of unauthorised access.
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Nikola Threatens Hindenburg With Litigation
Nikola Corp said on Friday it could take legal action against Hindenburg Research, a day after the short-seller issued a scathing report accusing the electric truck maker of being a "fraud". Hindenburg had shorted the stock on Thursday and said it had gathered enough evidence to show that Nikola founder Trevor Milton made false statements about possessing proprietary technology to form partnerships with large automakers.
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European Commission To Propose More Ambitious Emissions Limits For Autos: Report
The European Commission will propose that the European Union further tighten its limits for auto emissions, German newspaper the Sueddeutsche Zeitung reported on Friday. The newspaper, citing an internal paper it had obtained, said the Commission would propose that in 2030, the average carbon dioxide emissions of new cars should be 50% below 2021 levels. The bloc's current plan is for a 37.5% reduction in 2030, from 2021 levels.
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India Open To Raising Duties On Auto Imports To Boost Local Production
India is open to raising duties on auto imports in a phased manner in a bid to boost domestic production, a minister said on Friday, as the country's car industry set a target to halve imports of components within five years. Commerce Minister Piyush Goyal said raising duties was "not a bad idea" to discourage automakers from importing car kits, comprised of partially or completely knocked down vehicles, and using India only as an assembly base to get market share there.
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India's Slowing Diesel Sales In August Points To Lower Industry Output
India's monthly diesel consumption continued to decline for the second straight month in August, according to preliminary industry data, signalling lower industrial activity. Diesel consumption accounts for 40% of overall refined fuel sales in India and is one of the key parameters linked to overall economic growth. Asia's third largest economy shrank by a record 23.9% in June quarter. Some private economists forecast a contraction of nearly 10% in 2020/21, the worst performance since India won independence from British colonial rule in 1947.
Read More →Volkswagen's Labour Chief Rules Out Four-Day Week To Save Jobs
Volkswagen sees no need for a four-day week at its plants to secure jobs despite a growing shift to electric cars that are easier to build and require fewer workers, the company's head of labour relations was quoted saying on Sunday. Germany's largest trade union IG Metall on Aug. 15 proposed negotiating for a transition to a four-day week across industry to help secure jobs, against the backdrop of economic fallout from the coronavirus crisis and structural shifts in the auto sector.
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