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Global car sales have gained momentum this year, rising a stronger-than-expected 5% through July. While gains are expected to moderate through year-end, strengthening labour markets and improving financial conditions suggest that the upswing will continue in 2017. There are still nearly 50 million vehicles on the road in the United States that were built prior to the new millennium, and as a result U.S. purchases are expected to continue to move higher for the remainder of the year and in 2017. Carlos Gomes, Senior Economist and Auto Industry Specialist at Scotiabank, said that the ...
Volvo has announced a partnership with the ride-sharing company Uber to develop fully autonomous cars together. In this joint project, Volvo will manufacture the base vehicles which will then be bought by Uber. The two companies are each investing $300 million towards this project. Uber’s chief executive, Travis Kalanick, said: “Over one million people die in car accidents every year. These are tragedies that self-driving technology can help solve, but we can’t do this alone.“That’s why our partnership with a great manufacturer like Volvo is so important. Vol...
A five year peak on car sales was reached last year. Even the sales of Ford Mustang, Chevrolet Camaro and Dodge Challenger had to suffer a 8.4% decline. You might start to worry about US's auto market, but that's not really the case since the drop matches more for small cars and not crossovers and SUVs, since they keep on growing. But what does the cool-down for muscle-cars in America mean? Is there any deep meaning in this decrease? Well, customers who buy Mustangs, Camaros and Challengers do that because their interested in some modern evocations of the early 60's ...
Hillary Clinton has made a distinction between her and Donald Trump, her rival for the U.S. president post. She has painted herself as the person who fights for income fairness and middle-class workers. The Democratic lady told to the crowd of 500 people at the Futuristic Tool and Engineering event that she plans to invest in infrastructure, offer new tax credits, encourage corporate profit-sharing and paid apprenticeships. She promised she will do wherever it takes to bring the U.S. auto companies back, which are investing outside of the country in order to avoid the huge taxes, by...
Mercedes is more than 11,000 sales ahead of its two main rivals this year through July. The demand for its SUVs has helped the brand pull away. BMW, which has been the annual leader during the past two years, has been hamstrung by its greater reliance on cars, while Lexus has made gains in SUVs but has seen its car sales tumble. Mercedes reported record July sales of 28,523 vehicles, increasing 3.6% from the 27,526 vehicles sold during the same month last year. Mercedes-Benz Vans also reported best-ever July sales with 3,272 units, and smart reported 493 units, up 11.8%, bringing MB...
