China’s electric car investments could push oil prices even lower

Oil prices could drop to $35 next year if China and India’s plans come to fruition, Saxo Bank’s chief economist said recently. It’s a bold prediction, but the spread of estimates is wide-ranging for 2018. Oil could also spike to $80. Oil prices could decline to $35 a barrel next year if China and India […]

Car production rises as exports make up for falling UK demand

Car production increased last month as rising exports made up for falling demand in the UK, new figures reveal. Just over 157,000 cars rolled off production lines in October, 3.5% more than the same month last year, according to the Society of Motor Manufacturers and Traders (SMMT). Exports were up by 5%, with more than […]

Honda recalls 800,000 Odyssey Minivans linked to injuries

Honda Motor Co. is recalling about 800,000 of its Odyssey minivans in the U.S. after receiving 46 reports of injuries over faulty passenger seats. The company will repair the seats free of charge for owners of 2011-2017 models, it said in a statement Saturday. “If a second-row seat is not properly latched after adjusting it […]

Volkswagen Group earmarks $11.8 bn to develop, build China electric cars

Volkswagen Group said  Thursday it plans to spend 10 billion Euros (11.8 billion dollars) by 2025 to develop and manufacture all-electric-and-plug-in hybrid-vehicles as it seeks to comply with upcoming stringent rules in China. “The group, which includes Volkswagen AG and Audi AG, intends to inaugurate 15 of the so-called new energy vehicles (NEV) models over […]

Car owners face fuel shock as test results gap to reality grows

Car owners in Europe are paying about 400 euros ($460) a year more than they expected for fuel because of a record gap between what vehicles actually burn on the road compared with manufacturers’ data, according to a study from the International Council on Clean Transportation. Carbon dioxide emissions on the road are 42 percent […]