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Fiat Chrysler Automobiles got an offer from a well-known Chinese automaker to buy it, but at a small premium over its market value. Of course the offer was rejected because of the price offered, but what’s more important here is that the Chinese powers started to show interest in Fiat. Meanwhile, other sources independently identified executives from other large Chinese automakers conducting their own due diligence on a potential purchase of FCA, including meeting last week with representatives of U.S. retail groups about a potential acquisition. A source said FCA executives h...
Do we have to fear for slow demand now that oil prices fell more than 1.5 percent?! U.S. West Texas Intermediate crude CLc1 settled down 97 cents or 1.96 percent to $48.59 a barrel. Brent crude futures LCOc1 were down 80 cents or 1.52 percent to $51.90 a barrel. U.S. stock indexes fell sharply on Thursday, with the Dow and the Nasdaq posting triple-digit point declines, as investors fretted over escalating tensions between the U.S. and North Korea. The falling U.S. stock market translated to weakness in the oil market, that raised concerns about demand. The demand picture gets murky...
The average fuel economy of new light vehicles sold in the U.S. in July was 25.4 mpg, up 0.3 mpg from June, the University of Michigan Transportation Research Institute said Tuesday. The increase is attributed to a decreased proportion of light trucks in the market in July compared to June. Year-over-year U.S. light-vehicle sales slid 6.9 percent in July, with car deliveries descending 14.8 percent. Across the truck segment, pickup sales dropped 1.1 percent while crossover sales increased 1.2 percent last month. Light-truck sales, including crossovers, were down 1.9 percent. July...
After we’ve found out that almost each automaker has revealed sale decrease for July 2017, we had been thinking that probably specialists were right calling the car industry doomed, but now that w know that Subaru Corp.’ sales climbed 18%, we’re not so sure anymore Operating income climbed 18 percent for the company’s fiscal first quarter ended June 30. Net income increased 4.4 percent to 82.33 billion yen ($732.9 million) in the period. Revenue advanced 11 percent to 854.77 billion yen ($8.90 billion) in the April-June period, driven by an 11 percent in...
Despite the good promotion and ecstatic headlines about the new Tesla Model 3, the car hasn’t managed yet to become number 1, the green market is still being dominated by its big sister Model S. The Chevy Bolt, with a record sales month, took the #2 spot, inching out my estimate for the Model X. After that, the plug-in hybrid Toyota Prius Prime and Chevy Volt round out the top 5. Despite the addition of some extremely quick competitors on its track, the Nissan LEAF landed a healthy monthly sales total — still well above 1,000 cars a month — to take the #6 spot. Aft...
