Great Wall Motor Co.’s billionaire Chairman Wei Jianjun pushed back deliveries of the company’s most expensive SUV after the automotive press panned the Haval H8 in test drives. It turned out to be a $2.4 billion decision.
The iShares MSCI Emerging Markets Index exchange-traded fund advanced for the second time in three days after a better-than-estimated U.S. retail sales report bolstered optimism about global economic growth.
Mahindra & Mahindra Ltd., India’s biggest tractor maker, forecasts it will outperform the industry this fiscal year as a shortage of farm hands, rising labor costs and the best monsoon rains in six years drives demand.
Renault SA, France’s second-largest automaker, will build sport utility vehicles at its joint venture factory with Dongfeng Motor Group Co. as it targets to sell locally made vehicles in China by 2016.
High oil prices and the push for cleaner energy are luring car buyers toward smaller, more efficient vehicles. Trouble is, these cars can have lower profit margins than larger sport utility vehicles and light trucks. General Motors is just going with it.