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When President Xi Jinping announced measures to further open up China’s auto industry to foreign automakers, the global industry initially cheered. Now the cheering has stopped. As details are emerging, foreign auto executives said that this initiative was too narrow and vague to change business on the ground. Central to Mr. Xi’s plan is that it will allow foreign automakers to own Chinese factories, instead of working through a 50-50 Chinese partner, as is currently required. But it turns out that auto executives were comfortable with the current system. Ford’s vi...
President Donald Trump has the intention to put a 25 percent tariff on imports of cars under a similar authority that allowed him to slap duties on imports of steel and aluminum in order to protect U.S. national security, a senior administration official has confirmed. The Commerce Department, at Trump’s request, on Wednesday launched an investigation into the national threat of imported automobiles, trucks and auto parts, this being the first step toward imposing the tariffs. Commerce Secretary Wilbur Ross said in a statement that there is evidence suggesting that imports fro...
Most auto industry execs think that half of today’s car owners will lose interest in owning a car by 2025. Of the nearly 1,000 execs surveyed via KPMG for Business Insider Intelligence, 60 percent agree, while 22 disagree, and 8 percent strongly disagree. That’s not very representative because it targets people who already see the value of a car and ignores millennials who may never own a vehicle. While there is some mixed opinion about millennial attitudes toward car ownership. That generation is buying fewer cars than previous generations at their age. ...
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...
A report made by New York Times found that dozens of people have been poisoned by carbon monoxide since 2006 after failing to turn off the ignition on their keyless cars. More exactly, 28 of them died and 45 others suffered injuries. More than half of the vehicles sold annually in the US now have keyless ignitions. The keyless ignition system consists of a device that is carried by the driver, allowing him to start the car with a press of a button linked to the fob. If the key fob is not detected the car will not start. However, if the car has been started it will continue to run ev...
