The U.S. Treasury’s bailout fund has lost about $9.7 billion on its rescue of General Motors Co. and would need to sell its remaining shares in the automaker for an average of $147.95 to break even, a report to Congress said.
After almost two decades of waiting for Vietnamese consumers to become rich enough to afford cars, manufacturers including Toyota Motor Corp. and Ford Motor Co. will have to contend with cheaper imports.
Bayerische Motoren Werke AG backed the German government’s goal to have 1 million electric cars by 2020 on the country’s roads, a week after Volkswagen AG said the target is achievable under broader terms for alternative drives.
Shipments of rolled-aluminum products by Japanese fabricators to domestic and overseas markets expanded 3.6 percent in September, the third straight month of increase, as demand from automakers recovered.
Sierra Wireless Inc., the communications-equipment maker that connects cars and coffee machines to the Internet, is looking for acquisitions to do the same for air compressors and other industrial machines.
Volkswagen AG, Europe’s biggest carmaker, said the German government’s goal to have 1 million electric cars on the country’s roads by 2020 can be achieved if partly battery-powered cars like hybrids are taken into account.
Self-driving cars being planned by Google Inc. and global automakers may help counter slumping demand from younger customers by tapping the fastest-growing demographic in the world’s largest vehicle markets: the elderly.