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Defaults on Subprime Car Loans at 22-Year High
5/16/2018U.S. consumers with subprime auto loans are defaulting on payments at the highest rate since 1995, The Detroit News reports, citing Fitch Ratings.
White House Pursues Hard Line on Vehicle Emission Strategy
5/16/2018The Trump administration won’t confer with California before drafting a plan to roll back emission regulations scheduled for 2022-2025, sources tell The Wall Street Journal.
Subaru Headquarters Searched in Probe of Falsified Data
5/16/2018Subaru Corp.’s headquarters in Tokyo were searched by Japanese regulatory officials earlier today after the carmaker admitted it falsified fuel economy and emission data, The Nikkei reports.
U.S. Sanctions on Russia Stall Porsche SE Board Assignment
5/15/2018U.S. economic sanctions against Russia have interfered with plans by Porsche Automobil Holding SE to add GAZ Group Chairman Siegfried Wolf to its supervisory board.
Former VW Exec in Diesel Scandal Pleas for Release from Jail
5/15/2018Wolfgang Hatz—a Volkswagen AG executive who was jailed last year for his suspected role in the company’s diesel cheating scandal—has petitioned Germany’s highest court to release him.
Kia to Offer Mild-Hybrid Diesel Package
5/15/2018Kia Motors Corp. will introduce a diesel-electric mild-hybrid system in the 2019 Sportage crossover/SUV later this year.
Volvo Makes It Official: No New Diesels
5/15/2018Volvo Car Corp. is expected to confirm tomorrow that it is phasing out diesel engines from its vehicle lineup, the Financial Times reports.
Tesla Forms Shanghai Unit
5/15/2018Tesla Inc.’s China operations has created a wholly owned company in Shanghai that likely will serve as the company’s production base in China, according to multiple news reports.
Lexus LQ in the Works?
5/15/2018Toyota Motor Corp. has filed a trademark application in the U.S. to use “LQ” as the name of a future vehicle, perhaps for a new range-topping model for the carmaker’s Lexus unit.
Ryan Delahanty Promoted to Publisher of Plastics Technology and Group Publisher for the Advanced Materials and Processing Group
5/15/2018Longtime sales and publishing executive will lead Gardner Business Media’s Advanced Materials and Processing Group including Plastics Technology