The European Commission has approved a Czech investment incentive for the company Nexen Tire. Tire factory near Zatec can obtain regional support in the amount of nearly 117 million euros (over 3.2 billion). The Commission has announced it in a press release.
Toyota is expanding a recall previously issued in North America to the rest of the world including Europe to replace potentially deadly passenger-side airbag inflators made by Takata Corp.
Porsche launched a precautionary worldwide recall of its 918 Spyder plug-in hybrid sportscar, which can cost up to 850,000 euros ($937,000), saying a carbon fiber part could damage the cooling system and needed to be checked.
Russia will provide carmakers with 10 billion rubles ($166 million) in subsidies in a bid to support an industry struggling to cope with the country’s economic downturn.
Russian new-car sales are expected to decline by 25 percent to 35 percent this year as a weakening ruble and a sharply declining economy hit demand, accounting firm PricewaterhouseCoopers said.
AvtoVAZ will increase the price of cars from Russia’s best-selling Lada brand by 9 percent starting Thursday because of the plunging ruble, the country’s largest carmaker said.
General Motors, Audi and Jaguar Land Rover temporarily stopped selling cars in Russia this week, deciding that taking a timeout from the market was the best way to deal with the ruble’s collapse.
Spyker NV — the Dutch supercar maker that was hurt by its acquisition of Saab from General Motors — was this week declared bankrupt even as founder and CEO Victor Muller vowed to revive the company.
Mazda Motor Corp. is recalling about 100,000 of its Mazda6 sedans from the 2014 and 2015 model years because the tire monitoring system may not alert drivers to low tire pressure, U.S. regulators said today.
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