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Ecclestone Steps Down as Formula One Racing’s Major Domo
1/24/2017Bernie Ecclestone, the brusque head of Formula One racing for 40 years, is stepping down as CEO.
Judge Okays VW’s $1.2 Billion Diesel Settlement with U.S. Dealers
1/24/2017Volkswagen AG’s proposed $1.2 billion settlement to cover losses by its U.S. dealers stemming from the carmaker’s diesel engine emission cheating scandal has been approved by a District Court judge in San Francisco, Reuters reports.
Wal-Mart Wades into Car Sales
1/24/2017In April Wal-Mart Stores Inc. will open kiosks in 25 of its Walmart Supercenters in the southwestern U.S. through which customers can arrange to buy and finance new or used vehicles.
Trump Withdraws U.S. from Trans-Pacific Partnership
1/24/2017As expected, President Donald Trump signed an executive action on Monday that formally withdraws the U.S. from the Trans-Pacific Partnership.
Trump Will Meet with Big Three CEOs Today
1/23/2017President Donald Trump will hold a breakfast meeting today with the CEOs of General Motors, Ford and Fiat Chrysler Automobiles to discuss jobs in the U.S.
Tesla Autopilot Update May Require Service Visit
1/23/2017The latest round of wireless “over-the-air” updates made last weekend to Tesla Motors Inc.’s Autopilot software for semi-autonomous vehicle systems may require owners to take their vehicles to a dealer for the technology to work properly.
Kia Dealers in China Want $365 Million to Offset Losses
1/23/2017More than 100 dealers representing Kia Motors Corp. in China have renewed a threat to suspend sales unless they receive 2.5 billion yuan ($365 million) to compensate for losses caused by excess inventories, Reuters reports.
REPORT: PSA to Partner Again on Carmaking in India
1/23/2017PSA Group is partnering with Indian conglomerate CK Birla Group to assemble roughly 12,000 vehicles per year in the country, sources tell Les Echos.
Trump Tells CEOs He Will Cut Corporate Taxes, Regulations
1/23/2017President Donald Trump met earlier today with CEOs from Ford, Tesla and other companies to reiterate his promise to lower corporate taxes from 35% to somewhere between 15% and 20%.
Used-Car Prices Begin to Slide in U.S.
1/23/2017Used-car prices in the U.S. have been slipping for the past six months, a trend that is building pressure on new-car retailing, Bloomberg News reports.