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To clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand, automakers in the United States are ramping up holiday sales promotions ahead of Black Friday. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. The share prices of General Motors, Ford Motor, and Fiat Chrysler Automobiles NV are flat to down for the year. This reflects investor concerns that a six-year auto sales boom in the United States is reaching an end and th...
Volkswagen will export the Atlas large SUV to Russia from the United States starting at the end of next year. The executive, who has knowledge of VW's product plans, added that the Atlas will be offered with a 2.0-liter diesel in Russia. The source said it is unlikely that the SUV will be sold in western Europe. When asked at the auto show here this week for confirmation on the plan for the Atlas, VW brand's sales and marketing boss, Juergen Stackmann, said that Russia is one of the markets they are considering. The Atlas, which will be build at VW's factory in Chattanoo...
BHP Billiton is hot for electric vehicles. The Australian resources giant, which mines metals and coal used for both steelmaking and fueling power plants, is increasingly optimistic that there will be a surge in demand for some of its products as consumers opt for electric vehicles and other renewable energy technologies. Fiona Wild, BHP’s vice president, says that as we see more renewables and EVs, we also will see an impact on copper demand. One million EVs were sold between 2010 and 2015, largely driven by regulatory mandates in important auto markets including the US, Chi...
Strong US and China car sales and a drop in costs for the faulty ignitions recall helped General Motors double profits in the third quarter. The sales in the two biggest GM markets helped the company offset ongoing slumps in Europe, South America and elsewhere. With unit sales up 3.8% from a year ago to 2.42 million cars and trucks in the quarter, helped by a 17.3% jump in China. The company meanwhile warned that its hopes for a return to stability in Europe were at risk to fallout from Britain's vote to pull out of the European Union, including the weak pound. Breaking eve...
Nissan is very proud this September, since its Micra model was the most exported car from India, followed by Ford's Ecosport and General Motor's Beat. For the last few years, the Japanese automajor companies Nissan and Ford of US have been on the top slots. Month-over-month, one of the two companies will be number one and two. 7,412 units of Micra were exported in September. Ford's EcoSport sold 6,837 units while General Motors' Beat sold 6,643 units. Micra was launched by Nissan in 2010 and it was one of the successful products for the company both in domestic and ...
