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Carmakers scramble to adapt to slowing Chinese demand

NEW YORK, Aug 28 (Reuters) - 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. German car makers are reviewing how many vehicles to send to China or the U.S., ...
Source: Reuters | By: Joseph White and Nick Carey
Russia destroys 1.6 tons of German food

Russia's food fight with the West continued this week when Rosselkhoznadzor, the country's food and agriculture watchdog, confiscated and destroyed 1.6 metric tons of German supplies intended for BMW (XETRA: BMW-DE)'s motor racing team. Authorities of the Tver and Pskov regions confiscated and incinerated the food, which included 836 kilograms of fruit and vegetables, on the Russian border on ...
Source: CNBC.com | By: Luke Graham, special to CNBC
VW Finance sees boost from China reserves policy move

* Central bank allows lower reserve holdings for leasing companies * VW Finance says move frees up more than 200 mln yuan * Says can use the extra funds to boost falling car sales * Daimler and BMW say also expect a boost to the industry * Financing more common in China for foreign and luxury brands BEIJING, Aug 28 (Reuters) - When China's central bank singled out auto financing companies for ...
Source: Reuters | By: Jake Spring
Europe closes sharply higher on US GDP, oil boost

European markets ended sharply higher on Thursday, as U.S. and Asian markets rebounded and oil prices rocketed. The pan-European STOXX 600 (STOXX: .STOXX) index cheered at the close, finishing 3.5 percent up. London's FTSE 100 (FTSE International: .FTSE) ended 3.6 percent higher, while France's CAC (Euronext Paris: .FCHI) and Germany's DAX (XETRA: .GDAXI) saw a 3.5 and 3.2 percent pop, ...
Source: CNBC.com | By: Arjun Kharpal
Tesla earns perfect score  

Media Link Transcript John remembers its few months ago that consumer reports said there were having problems getting into our model SP 85. There have been problems with their 85. Not too many problems look at the rating that they have given that car all of 100 yes perfect score highest ever from consumer reports. Mainly because the door motors means greater performance and it also means ...
Source: CNBC.com
How these big risk takers are handling the markets

With huge market swings happening around the world, many professional risk takers are losing their shirts. We got some advice from another type of risk taker: lndyCar legends, who have been able to manage high volatility both on and off the track. From racing icons Roger Penske and Mario Andretti to second-generation driver Graham Rahal, these high-speed heroes have learned to handle whatever ...
Source: CNBC.com | By: Eric Chemi
10 automakers sued in US over keyless ignitions

Ten of the world's biggest automakers were sued on Wednesday by U.S. consumers who claim they concealed the risks of carbon monoxide poisoning in more than 5 million vehicles equipped with keyless ignitions, leading to 13 deaths. According to the complaint filed in Los Angeles federal court, carbon monoxide is emitted when drivers leave their vehicles running after taking their electronic key ...
Source: Reuters
UPDATE 3-Ten automakers are sued in U.S. over 'deadly' keyless ignitions

* Keyless ignitions linked to carbon monoxide poisoning * 13 deaths attributed to alleged defect * U.S. lawsuit seeks automatic shut-off feature, damages (Adds comments by Ford, others declining to comment, details about lawsuit) Aug 26 (Reuters) - Ten of the world's biggest automakers were sued on Wednesday by U.S. consumers who claim they concealed the risks of carbon monoxide poisoning in ...
Source: Reuters | By: Jonathan Stempel
UPDATE 2-Ten automakers are sued over 'deadly' keyless ignitions

* Keyless ignitions linked to carbon monoxide poisoning * 13 deaths attributed to alleged defect * U.S. lawsuit seeks automatic shut-off feature, damages (Adds details about carbon monoxide, NHTSA complaints) Aug 26 (Reuters) - Ten of the world's biggest automakers were sued on Wednesday by U.S. consumers who claim they concealed the risks of carbon monoxide poisoning in more than 5 million ...
Source: Reuters | By: Jonathan Stempel
European shares end down after Syngenta slumps

* FTSEurofirst 300 drops 1.9 pct * Index risks biggest monthly fall since 2008 * Paddy Power surges on Betfair merger plan * Europe bourses in 2015: http://link.reuters.com/pap87v * Asset performance in 2015: http://link.reuters.com/gap87v (Recasts, adds closing prices) LONDON, Aug 26 (Reuters) - European shares ended nearly two percent lower on Wednesday after a volatile session, hit by a ...
Source: Reuters | By: Sudip Kar-Gupta and Alistair Smout