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China became the biggest automobile market by sales in the world, and it has not stopped growing since. What may be even more astonishing is that it is, still in many aspects, a market in its infancy with huge growth potential. Last year, BYD more than doubled its global plug-in vehicle sales to almost 62,000 vehicles.This is the brand new BYD Yuan SUV. It will be launched on the Chinese car market next month, and the first cars have arrived at BYD dealers in China. BYD has decided to call the entire range ‘Yuan’, including the petrol and plug-in hybrid versions, just like they did...
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...
BMW held on in December to top the U.S. luxury segment in 2015 for its fourth luxury-sales crown in five years.BMW won the U.S. luxury-auto sales crown even with a 17 percent drop in December deliveries, ahead of Lexus and Mercedes-Benz.BMW finished 2015 with luxury sales of 346,023 vehicles, followed by Lexus with 344,601 and Mercedes with 343,088. All three brands set annual sales records last year.The results exclude BMW’s MINI models and Daimler’s work trucks and Smart cars, which aren’t luxury vehicles.The German automakers have held the top spot in U.S. luxury sales sin...
General Motors plans to invest $1 billion in three Michigan plants by 2030 as part of a new deal between the automaker and the Michigan Economic Growth Authority tax credit program.GM said it would be putting $356 million in operations in Flint, Saginaw and Grand Rapids, creating more than 50 jobs and helping to retain nearly 500 jobs in the state.The new investments according to GM will be:- $263 million for a future engine program at Flint Engine Operations. The investment retains 410 jobs at the plant.- $50 million for driveline components at Saginaw Metal Casting Operations. The investment...
Italian transport design studio Pininfarina, which specializes in creating sports cars for brands like Ferrari, Alfa Romeo, Peugeot, Maserati, and Rolls Royce has been acquired by Indian Mahindra.Mahindra, a massive conglomerate based in India, will pay around $28 million for 76-percent of the Italian design house, and plans to make offers for the remaining 24 percent. Those tracking the deal were surprised that the acquisition is being made through Tech Mahindra, rather than parent Mahindra & Mahindra, which makes SUVs, tractors and other vehicles. But we know that the Cambiano, Italy-bas...
