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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. ...
In 2011 BMW had unveiled its M5 sports sedan at the Frankfurt auto show. The car had to win the attention within 50 other production vehicles debuting at the event. Six years later, the automaker decides to choose a different way of promoting its new generation M5. The car has been revealed in a video game.BMW's strategy, unthinkable only a few years ago, illustrates how the digital era is transforming the way automakers introduce vehicles. The shift has left many of the big international auto shows grasping for answers as brands increasingly connect with consumers through Instagram and Yo...
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-...
Japanese car manufacturer Nissan will gradually lower the number of diesel cars that it sells in Europe reducing it to zero. This is a further sign of the weakening demand for this type of cars as customers worry about tax rises, bans, and restrictions related to diesel in many countries. A spokeswoman from Nissan said that there would be a gradual withdrawal of diesel vehicles in Europe. A source last month had said that Nissan would cut hundreds of jobs at its Sunderland plant, which is Britain’s biggest car factory. The car making industry is facing a global regulatory crac...
