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A new report says that electric car sales are expected to massively increase in the next years, reaching 55 percent of global new car sales by 2040, replacing 7 percent of gas and diesel consumption. Sales of electric cars have just managed to top 1.1 million per year, but the report from Bloomberg New Energy Finance suggests that they are set to grow to 11 million in 2025 and topping 60 million vehicles, which will be about 55 percent of the new car market, by 2014. The prediction is that electric vehicles will replace 33 percent of the total global car fleet by then. Helping to le...
Volvo will not offer a diesel in its new S60 sedan, which will be released this spring. The new S60 will be available with a range of four-cylinder gasoline engines as well as two versions of its gasoline-electric plug-in hybrid powertrain. This move comes as Volvo accelerates its shift toward electrified powertrains and away from diesels, which accounted for almost 80 percent of its sales in Europe last year. Diesel sales have taken a hit in Europe because of potential bans on older, more polluting cars with the powertrain and the high cost of improvements to ensure that new d...
Despite a massive fire at the Meridian Magnesium Products facility in Eaton Rapids, Michigan, Ford’s Dearborn Truck Plant will resume F-150 production on Friday, May 17th. Ford officials say that the supply chain for the Super Duty is also restored, which should lead to production restarting at the Kentucky Truck Plant by Monday, May 21st. The Kansas City Assembly Plant is also scheduled to resume work by May 21st. After the May 2nd fire, Ford teams addressed safety concerns and restored electricity as quickly as they could. Their goal was to retrieve and relocate tools so pro...
The profit of the Japanese automaker- Toyota has increased 43% in the latest quarter as cost-cutting, lower selling outlays and falling warranty expenses offset unfavorable foreign exchange rates and helped the automaker to have a record full-year net income.Operating profit rose to 629.6 billion yen ($5.93 billion) in the carmaker’s fiscal fourth quarter ended March 31, while net income advanced 21 percent to 480.8 billion yen ($4.53 billion). Revenue rose 1.9 percent to 7.58 trillion yen ($71.36 billion). Global retail sales increased 2.2 percent to 2.6 million vehicles in the January-...
Ford Motor Co. said that it will halt production of its top-selling F-150 and Super Duty pickup trucks at some of its U.S. plants following a fire at a Michigan plant that produces instrument panels. The truck side of Ford’s Kansas City Assembly plant has been suspended due to parts shortage. This means that about 3,600 workers are idled with no date set for reopening the plant. And the Dearborn Truck plant in Michigan is getting closed too. That plant has 4,000 employees. In addition, F-Series Super Duty production is suspended at the Kentucky Truck Plant in Louisville. ...
