Renault could sell the Eolab ultra fuel-efficient concept for a similar price to a diesel-powered Clio if it decided to build the car, Thierry Bollore, the company’s chief competitive officer, said.
Russia may extend car-buying subsidy scheme into 2015
Russia may extend incentives for new-vehicle purchases beyond 2014, the Industry and Trade Ministry said, in an effort to help the car industry weather an economic downturn.
The ministry said in a statement the scheme could be extended into 2015, citing industry minister Denis Manturov. It gave no details of possible additional funding of the program.
The government earlier earmarked 10 billion rubles ($244 million) to fund the trade-in scheme that will run through to the end of the year.
Russia’s auto market is in free fall with new-car sales plunging by 20 percent last month following a 26 percent drop in August, according to the Association of European Businesses lobby group.
Car sales are falling fast as Russia’s weak economy is hit by western sanctions over the conflict in Ukraine and buyers delay making large purchases.
In the first nine months, sales were down 13 percent to 1.78 million.
Under the existing scheme, buyers of new passenger cars are eligible for a discount of at least 40,000 rubles (€752) when scrapping or trading in their old vehicles.
The AEB said it expects full-year volume to be down 12 percent in 2014 to 2.45 million as the scheme helps slow down the rate of decline.
U.S. NHTSA faces review over safety lapses
by Steve Holland
The Transportation Department will conduct an internal review of U.S. auto safety regulators in response to a series of safety lapses, including this week’s reports of defective airbags, a senior administration official said on Saturday.
Takata’s airbag crisis causing supplier shift to Autoliv, Daicel
The defect in Takata Corp. airbags linked to four deaths in Honda cars opens the supplier to risk of losing business to rivals including Autoliv and Daicel in a crucial portion of the market for the safety devices.
The market for airbag inflators — the component at the root of deadly defects — is likely to shift away from Takata to suppliers including Autoliv and Daicel, potentially allowing the two suppliers to control more than half the market by 2020 as Takata’s share shrinks, said Scott Upham, an analyst who has followed airbags since they were first going into cars a quarter-century ago.
Hyundai’s 3Q profit falls 28 percent
By YOUKYUNG LEE
Hyundai Motor Co. said Thursday its profit sank nearly 30 percent for the July-September quarter, hurt by a stronger South Korean currency and weak sales growth in its home market.
