Economics

BMW Warns that “Hard” Brexit Could Lead to Plant Closures

November 16, 2018 at 12:57 PM

BMW AG says it is preparing for a worst-case “hard” Brexit when the U.K. quits the European Union next spring that could mean closing down operations in England.

SMMT: Proposed Brexit Deal a “Positive Step”

November 15, 2018 at 5:19 PM

The proposed Brexit deal from British Prime Minister Theresa May is a “positive step” toward limiting the damage to the U.K.’s auto industry when Britain exits the European Union next spring, says the Society of Motor Manufacturers and Traders.

Carmakers Warn of High Compliance Costs for Updated NAFTA

November 15, 2018 at 2:02 PM

Auto industry groups are warning that the complex local content rules proposed under the revised North American Free Trade Agreement will add costs and erode competitiveness, Automotive News reports.

Oil Prices Continue to Skid

November 14, 2018 at 1:50 AM

Oil futures have posted their biggest one-day declines in more than three years on fears of expanding suppliers and shrinking demand.

No White House Decision on Car Tariffs

November 14, 2018 at 12:58 AM

A Trump administration decision on import tariffs for cars and components awaits further revisions to a U.S. Dept. of Commerce analysis of their merit.

Honda Moves Acura SUV Production from U.S. to China

November 13, 2018 at 1:08 AM

Honda Motor Co. has stopped shipping American-made Acura RDX midsize crossover vehicles to China and is assembling them locally instead, The Nikkei reports.

Petroleum Use by Cars to Peak in 2025

November 13, 2018 at 12:13 AM

Global consumption of petroleum-based fuels will plateau in seven years, even as car sales continue to grow, says the Paris-based International Energy Agency.

White House to Meet Tomorrow on Auto Tariffs

November 12, 2018 at 4:25 PM

The White House’s top trade negotiators will meet on Nov. 13 to discuss a broad plan to impose import tariffs on foreign cars for the sake of protecting national security, sources tell Bloomberg News.

U.S. Fuel Prices Continue to Slide

November 12, 2018 at 3:16 PM

The average price of gasoline in the U.S. begins this week at $2.70 per gallon, down 6 cents over the past week and 21 cents from a month ago, according to motor club group AAA.

Volvo Cuts Car Shipments Between China and U.S.

November 08, 2018 at 3:20 PM

Volvo Car Corp. says the U.S.-China trade war has prompted it to cancel plans to ship S60 sedans to China from its new U.S. factory in South Carolina.

Oil Prices Sink to 7-Month Low

November 06, 2018 at 1:31 PM

The price of petroleum has dropped to a seven-month low in the past week, apparently because of efforts by President Donald Trump to reverse a run-up in prices caused by impending U.S. sanctions against Iran.

U.S. Trade Deficit Grows

November 02, 2018 at 9:55 AM

The U.S. trade deficit widened by $700 million in September to $54 billion, the Dept. of Commerce reports.