General Motors on Monday raised the death toll related to its defective ignition switches to 42 as it weighs compensation claims following its long-delayed recall of millions of cars.
Daily Archives: December 16, 2014
Mercedes prices new Maybach S class at €134,100
Mercedes-Benz set the starting price of the Maybach S-class sedan at €134,100 ($166,700), including value-added tax, and began taking orders for the would-be challenger to Rolls-Royce and Bentley.
EIA: price of fuel tends to have little effect on travel demand
| The US average retail price per gallon of regular motor gasoline has fallen 28% from its 2014 peak of $3.70 per gallon on June 23, to $2.68 per gallon on December 8, with no noticeable uptick in travel. Source: EIA. |
The 28% drop in the US average retail price of gasoline since 23 June may not have much effect on automobile travel, and in turn, gasoline consumption, according to an analysis by the US Energy Information Administration (EIA). Gasoline is a relatively inelastic product—i.e., changes in prices have little influence on demand—and has become more so over the past few decades.
Fiat Chrysler exports from Brazil to Mexico after more than 3 years
Fiat Chrysler Automobiles has resumed exports from Brazil to Mexico after a more than three-year hiatus due to weak Brazilian demand and a more favorable exchange rate, Cledorvino Belini (photo above), chief executive officer in Latin America, said on Monday.
Volvo will launch online car sales, skip some major auto shows
Volvo Cars said it will start selling vehicles online as it rolls out new models to compete with German luxury rivals BMW, Audi and Mercedes-Benz. The Swedish carmaker, controlled by China’s Geely, will gradually introduce web sales and spend more on digital advertising, the company said today as it outlined changes to its global marketing strategy.
