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U.S. Economy Grew 1.2% in First Quarter
5/26/2017The American economy expanded at an annualized 1.2% in January-March, according to an updated estimate from the U.S. Dept. of Commerce’s Bureau of Economic Analysis.
BMW Previews 8 Series Coupe
5/26/2017BMW AG has released photos of a concept version of its upcoming 8 Series coupe.
GM, Toyota Most Likely to Gain Market Share?
5/26/2017Toyota Motor Corp. and General Motors Co. will debut the most redesigned models over the next four years—85% and 84%, respectively—and thus are more likely than their rivals to earn more market share, says Bank of America Merrill Lynch’s Car Wars 2018-2021 report.
Oil Prices Sag Despite Production Cut Extension
5/26/2017Oil futures dropped 5% on Thursday, signaling trader skepticism about the impact of an OPEC-led plan to continue production cuts for another nine months.
Report: Vehicle Sales in SE Asia to Grow 8% This Year
5/26/2017Total vehicle sales in the 10 nations of southeastern Asia will surge 8% this year compared with 3% in 2016 and less than 4% for Asia overall, says London-based BMI Research, a part of Fitch Group Inc.
Uber’s Marakby Returns to Ford
5/25/2017Former Ford Motor Co. executive Sherif Marakby, who left last year to head global vehicle programs for Uber Technologies Inc., is coming back.
OPEC Agrees to Extend Oil Production Cuts for 9 Months
5/25/2017More than a dozen major oil producers, led by the Organization of the Petroleum Exporting Countries, have agreed to continue curbing their output until through next May.
Auto Production Drops 18% in U.K.
5/25/2017Carmakers in the U.K. built 122,100 vehicles last month, down from 149,300 in April 2016, says the Society of Motor Manufacturers and Traders.
Bosch Linked to Daimler Diesel Probe in Germany
5/25/2017Prosecutors in Germany tell Handelsblatt they are investigating employees of Robert Bosch GmbH for their possible link to a probe into suspicions of diesel emission cheating by Daimler AG’s Mercedes-Benz unit.
Faraday Future Looks for $1 Billion in Outside Funding
5/25/2017California-based Faraday Future Inc. aims to raise $1 billion to keep its plans on track to launch electric-car production in Nevada in 2019, a source tells Bloomberg News.