BMW’s supervisory board will discuss new leadership at the automaker’s U.S. plant in Spartanburg, South Carolina, later on Thursday, and is expected to name Oliver Zipse as its new CEO, after 53-year-old Harald Krueger said he would not be available for a second term as CEO.
The U.S. Commerce Department sent a report on Sunday to President Donald Trump that could unleash steep tariffs on imported cars and auto parts. Profits at German automakers are seen most at risk from tariffs on cars they export to the U.S. from Europe.
U.S. President Donald Trump kept up pressure on trading partners, threatening European automakers with a tax on imports if the European Union retaliates against his plan to impose tariffs on aluminum and steel.
Congress should investigate new allegations that Volkswagen Group diesel cars were sold overseas with rigged software after the company’s $14.7 billion settlement of a cheating scandal in the U.S., a Republican lawmaker said.
Volkswagen AG’s global deliveries rose 4.3 percent to 10.7 million last year as the recovering markets of Russia and Brazil helped to offset weak demand in western Europe. VW presented the latest novelties at a Motor Show in Detroit last week.
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