Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. automakers.
Tags: Auto industry
Volkswagen Shifts Strategy: Main Factory Will No Longer Produce ID.3 Electric Models
Volkswagen in Germany is shifting its production of the electric ID 3 to Zwickau plant due to low demand, focusing on optimizing resources and simplifying resources.
General Motors Pledges $328 Million Investment, Retains Workers
General Motors announced its plans to invest $328 million to to its Tonawanda and Lockport plants. The news came as a relief to the workers who felt reassured of their future as the company will retain hundreds of jobs on both plants.
Used-car values drop adds increased pressure to auto makers
The average price for used-car dropped modestly during February 2016, compared with the previous year period. According to Manheim, the median prices for used-vehicle in February amounted to $10,345, a decrease of 2% from the previous year period.
Audi posts 3% fall in 2015 profit owing to emission scandal
Audi AG reported a drop of 6.1% in its operating profit for 2015. The carmaker's profit after tax declined 3% owing to costs of repairing diesel engines related to emission scandal.
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Carmakers are betting on style and recycling in the battle for Europe's burgeoning small car market, adding hi-tech safety and entertainment features while often using older vehicle underpinnings as a way to keep prices down.
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