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World Auto Sales Expected to Grow to 89 Million Vehicles in 2016
German supplier Continental AG expects global production of cars and light trucks to grow only slightly in 2016, to 89 million vehicles from bout 88 million in 2015. The forecast of modest growth reflects the new reality faced by auto makers and parts suppliers in an industry no longer enjoying rapid growth in China and substantial gains in the U.S. market.
Source: Automotive News
VW CEO Faces Crucial Meeting After California Board Rejects Diesel Fix
Volkswagen Group CEO Matthias Mueller faces a crucial meeting today with U.S. regulators to discuss ways out of its emissions-cheating crisis, a day after the California Air Resources Board rejected its initial proposed diesel engine fix. California spurned the automaker’s December recommendation for how to fix 2.0-liter diesel engines as “incomplete.” VW said it will present a reworked plan to the U.S. Environmental Protection Agency (EPA) at the meeting in Washington. Mueller is scheduled to meet with EPA chief Gina McCarthy and members of Congress this morning.