Germany’s Sixt says its car-sharing venture with BMW Group is profitable in cities where it has been operating for more than a year as sign-ups exceed forecasts.
“We’ve been surprised about the explosion of new subscriptions, which has helped boost revenue,” Erich Sixt, CEO of the car-rental company, said Tuesday on a conference call with reporters.
The UK reported its best July on record for car exports, the Society of Motor Manufacturers and Traders (SMMT) said, as production rose by nearly 3 percent year-on-year because of new models and strong sales of top-end vehicles.
Environmental campaigners are bracing to take on big business over whether Europe should follow California’s lead and include road transport in the EU carbon market.
Bringing transport – Europe’s biggest source of greenhouse gas emissions after the power sector – into the EU Emissions Trading System (ETS) could bring down the costs the car industry faces in meeting existing regulation as well as tackling the oversupply on the carbon market.
EU regulators are preparing draft legislation that will require vehicle fuel use to be tested on roads rather than in laboratories, looking to close loopholes that allow carmakers to exaggerate fuel-saving and emissions credentials.
Russia will consider taking measures aimed at supporting the auto market, Russian news agencies quoted Prime Minister Dmitry Medvedev as saying on Tuesday.
