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Oil prices will stay low for as long as 10 years as Chinese economic growth slows and the U.S. shale industry acts as a cap on any rally, according to the world’s largest independent oil-trading house."You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," Ian Taylor, Chief Executive Officer of Vitol Group BV, told Bloomberg. His company is the world's largest independent oil trader. Instead of any significant increase or decrease, the exec believes crude could hit $45 to $50 a barrel in the latter half of 2016 and...
The diesel-emissions scandal had forced Audi carmakers to implement new arrival of its e-tron Quattro battery-powered SUV. They do everything to bringing its all-electric e-tron Quattro and hydrogen fuel-cell h-tron Quattro models to the market. “Everybody is of course concerned about the aftereffects of the diesel crisis, and the thinking is that Audi has to show people we are serious about these kinds of cars.” Audi says in its release that the electric model will fit between the Q5 and Q7 models, suggesting that it could very well be called Q6, as originally rumored.It...
The 47-year-old Dietmar Exler will take over as President and CEO of Mercedes-Benz USA and NAFTA effective January 1, 2016. He will take the place of Stephen Cannon, who is leaving the company but will stay on as a consultant until the end of January to help with the transition. Cannon will remain as a consultant to MBUSA until Jan. 31, 2016.Exler began at McKinsey & Co. in 1997 as part of the financial interest group in its Germany office and later in its Detroit-based Midwest office. Five years later, Exler joined DaimlerChrysler Financial as senior manager of program development and was...
After Dieselgate crisis Volkswagen's sales are down and the sellers are frustrated. Volkswagen needs to strike out in a new direction and become a big proponent of electric cars.The VW brand's internal magazine Insight interviewed leader Herbert Diess, who said a "breakthrough" is coming with engineers "developing a special vehicle architecture that foresees the installation of flat batteries."This is a big move, up to now Volkswagen having touted the novel shapes it was making of battery packs to get the most range out of offerings like the e-Golf.Volkswagen seriou...
Wolfsburg - Volkswagen said on Thursday that only a small group of employees were responsible for cheating US diesel emissions tests and there was no indication that board members were involved in the biggest business crisis in the firm's history.While offering few specifics, the company’s chairman and chief executive acknowledged that engineers introduced software that would lower emissions of nitrogen oxides in many of its diesel engines after realizing there was no legal way for those engines to meet tight U.S. emissions standards “within the required time frame and budget.&...
