Carmakers scramble to adapt to slowing Chinese demand


NEW YORK - China's demand for luxury cars used to move in one direction - up. Now, the prospect of a sustained slump in Chinese demand, prompted by sharp declines in Chinese equity markets and a devaluation of the yuan, has global auto manufacturers scrambling to find new markets to sell goods.

Booming Irish retail sales adds to string of strong data 28 Aug 2015

DUBLIN - Irish retail sales volumes rose 9.9 percent year-on-year in July, data showed on Friday, capping a week of strong job, house price and wage figures that indicated there was little prospect of the economic recovery abating.


VW Finance sees boost from China reserves policy move 28 Aug 2015

BEIJING - When China's central bank singled out auto financing companies for extra help on Tuesday, it effectively freed up more than 200 million yuan ($30 million) for Volkswagen AG's China finance unit, which it can use to boost falling car sales, a top official said on Friday.

Russian authorities burn food for BMW racing team 27 Aug 2015

MOSCOW - Russia's food safety watchdog has burned 1.5 tonnes of food imported for a BMW car racing team taking part in an event in Moscow, TASS news agency reported on Thursday.


Marchionne ready to take over as Ferrari CEO before IPO - sources 27 Aug 2015

MILAN - Fiat Chrysler chief Sergio Marchionne is preparing to take over as chief executive at Ferrari ahead of the Italian luxury sportscar maker's planned initial public offering later this year, two sources said on Thursday.


China's slowing auto market to put further pressure on oil 27 Aug 2015

SINGAPORE - China's falling auto sales have been at the forefront of concerns that its economy is slowing much faster than expected, weighing on oil prices.


Daimler says would welcome new Chinese long-term investor 27 Aug 2015

FRANKFURT - Daimler AG on Thursday signalled it was open to welcoming new long-term shareholders from China, responding to a Chinese media report that Chinese automaker BAIC Motor was interested in taking a stake.


Toyota says testing potential alternatives to Takata air-bag inflators 25 Aug 2015

TOKYO - Toyota Motor Corp said on Tuesday it is testing air-bag inflators made by Autoliv and Nippon Kayaku Co as possible alternatives to potentially lethal parts supplied by Takata Corp.

Sycamore to buy department store chain Belk for about $3 billion 24 Aug 2015

- Fashion department store operator Belk Inc said it would be acquired by private equity firm Sycamore Partners in a deal valued at about $3 billion, including debt.


GM China joint venture building $470 million green car plant 24 Aug 2015

BEIJING - A General Motors Co joint venture in China will invest 3 billion yuan ($470 million) to build a factory dedicated to green cars, a spokeswoman said on Monday.