With low oil prices that will continue for some time still, one would expect the oil-dependent economies in the Middle East to worry. The largest economy in the Arab world, Saudi Arabia, is already feeling the bite and reviewing its budget, as 80% of government income is from oil revenues.
You may say that Chinese billionaire, Jia Yueting, has big dreams after it was announced that Faraday Future, the start-up company he created, announced the creation of a billion-dollar US Factory that will build electric cars starting in 2017. They will rival those made by our old friend, Elon Musk, over at Tesla Motors.
Are you fed up with hearing news on recalls? Of late, there seems to be one just about every week. Everyone seems to be at it, from Japan to Germany, and just about everywhere in between.
With the impending Trans-Pacific Partnership Agreement (TPPA), Malaysian carmakers, Proton and Perodua, will have to buck up or bow out of the local automotive industry – the International Trade and Industry Minister, Datuk Seri Mustapa Mohamed, said as much during an interview on a local station last week. While certain sectors like electronics, oil palm and rubber would benefit from the pact, the domestic automotive industry would face an onslaught of competition from competitively priced foreign cars.
So, Carvana built a five-storey vending machine that dispenses cars in Nashville, Tennessee.
There have been very few good headlines for Volkswagen of late, since they got caught out cheating with their emissions and fuel efficiency figures. VW’s UK car sales fell 9.84% in October compared to the same month last year, signalling a lost of consumer faith in the brand after the news of emissions rigging broke.