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European Carmakers Scramble to Save Iran Business Plans
5/9/2018European carmakers are rushing to shield their just-launched operations in Iran after the U.S. abandoned the Iranian nuclear agreement yesterday and said it will immediately impose new economic sanctions on the country.
April Sales in Russia Climb 18%
5/9/2018April deliveries in Russia of passenger cars and light commercial vehicles grew 18% to 152,400 units as the market continues to rebound.
Germany Readies VW-Inspired Law to Allow Class-Action Lawsuits
5/9/2018Germany’s cabinet has approved a draft law, inspired by consumer complaints about Volkswagen diesels, that would make it easier and cheaper for consumers to join class-action lawsuits.
Aston Martin Will Use SUV to Revive Lagonda Brand
5/9/2018Aston Martin Holdings Ltd. says an SUV/crossover vehicle will be the first model to carry the company’s all-electric Lagonda brand in 2021.
China Delays Imports of U.S.-Made Vehicles
5/9/2018Chinese customs officials are delaying shipments of cars from the U.S. amid escalating trade tensions between the two countries.
Toyota’s Profits Surge as Costs Shrink
5/9/2018Toyota Motor Corp.’s operating and net profits in its fourth fiscal quarter ended March 31 jumped 43% to 630 billion yen ($5.7 billion) and 21% to 481 billion yen ($4.4 billion), respectively.
Uber Teams with Army on Silent Aircraft Tech
5/9/2018Uber Technologies Inc. is collaborating with the U.S. Army on a co-rotating propeller system that could be used for flying taxis and military drones.
Self-Driving Car Race Continues Amid Accidents
5/9/2018Ohio Gov. John Kasich signed an executive order this week that will allow companies to test self-driving cars on all public roads in the state, including scenarios without a backup driver onboard.
Mandatory Backup Cameras Begin in U.S.
5/9/2018All new passenger vehicles sold in the U.S. must be equipped with backup cameras under a federal safety rule that took effect on Tuesday.
S. Korea Aims to Block GM from Leaving for 10 Years
5/9/2018The Korea Development Bank says its aid package to struggling GM Korea will prevent parent General Motors Co. from exiting the country for a decade.