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EC Lowers Growth Forecast for 2016
2/5/2016The European Commission now expects the eurozone’s economy to expand 1.7% this year, up from 1.6% in 2016 but 0.1 point below its forecast last November.
White House Proposes Oil Tax to Finance Mobility Projects
2/5/2016The White House plans to propose a $10 per barrel fee on crude oil—currently priced at about $32—to help fund an array of personal transport options ranging from autonomous cars to railroads, Reuters reports.
Brazil Wants to Lift Auto Trade Caps with Argentina, Mexico
2/4/2016Brazil’s trade minister is urging the country to remove its trade restrictions with Mexico and Argentina in a bid to revive its own auto industry.
VW Replaces Head of its U.S. Legal Dept.
2/4/2016Volkswagen AG has hired David Detweiler, one of its outside legal advisors, to head the legal department of its embattled U.S. unit.
Sixfold Hike in Fuel Cell Vehicles Forecast by End of Decade
2/4/2016Global sales of fuel cell-powered light-duty vehicles will grow at an average annual rate of 46% per year to top 14,400 units in 2019, according to a new report by Infiniti Research Ltd.’s Technavio unit.
Maruti Suzuki Plans $1.5 Billion Product Blitz in India
2/4/2016India’s largest carmaker, Maruti Suzuki Ltd., says it will invest $1.5 billion to introduce 15 new models within five years.
SsangYong Revives Kaiser Name
2/4/2016South Korea’s SsangYong Motor Co. will rename its Chairman W fullsize luxury sedan the Chairman Kaiser when it introduces the redesigned model later this year.
China's Yangfeng Interiors Touts New Heated Armrest
2/4/2016Shanghai-based Yanfeng Automotive Interiors says it has developed a heated armrest for door panels that is significantly lighter and thinner than similar systems available on some high-end luxury models.
Delphi Hikes Revenue, Earnings
2/4/2016Delphi Automotive plc reports an 11% gain to $3.9 billion in adjusted revenue in October-December 2015.
Daimler’s 4Q Earnings Jump 77%
2/4/2016Daimler AG says its net profit in the fourth quarter of 2015 surged to €2.1 billion from €1.2 billion a year earlier.