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Volkswagen returns to profit as global auto markets recover

FRANKFURT, Germany (AP) — German automaker Volkswagen said Thursday it returned to profit in the third quarter thanks to cost discipline and a rebound in global sales markets led by China after the li...

Electrified by Tesla, Chinese startups are on the charge

China’s electric vehicle startups are on the charge again, thanks to Tesla. The country’s growing fascination with the U.S. pioneer’s sleek designs and cutting-edge technology is ...

Central American refugees stopped by Trump, then by pandemic

MIAMI (AP) — After years of waiting in countries marred by violence, Central Americans who were finally cleared to reunite with their families in the U.S. are facing a major obstacle: the coronavirus ...

China auto sales up 6% in August, down 15.4% year-to-date

BEIJING (AP) — China’s car sales rose 6% in August over a year earlier as the industry’s biggest market recovered from the coronavirus pandemic, but purchases for the year to date were off more than 1...

EU share of electric cars grew during virus lockdown months

FRANKFURT, Germany (AP) — The market share of electric cars in Europe increased during and immediately after the worst of the pandemic lockdowns, industry figures showed Thursday, even as overall sale...

Virus surge makes US weak link in global economic recovery

FRANKFURT, Germany (AP) — People in China are back to buying German luxury cars. Europe's assembly lines are accelerating. Now the global economy is waiting for the United States to get its coronaviru...

Taiwanese car brand Luxgen to leave China

TAIPEI (Taiwan News) — Amid a sluggish car market in China, Taiwan's Yulon Group has decided to withdraw its Luxgen brand from the country, reports said Wednesday (June 17). The move was ...

Business Highlights

___ US stocks bounce higher, but still end the week with a loss NEW YORK (AP) — Stocks closed another bumpy day with solid gains on Wall Street, but not enough to e...

Retail sales look to recover; nations eye economic concerns

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the ...

UK economy shrank by colossal 20.4% in April

LONDON (AP) — Official figures show that the British economy shrank by a colossal 20.4% in April, the first full month that the country was in its coronavirus lockdown. The Office fo...

From battery performance to cyber and fire: Growth of electric cars comes with a host of new risks and claims scenarios for manufacturers, suppliers and insurers, Allianz warns

Government policies on climate change and consumer demand could see the number of electric cars reach 100 million by start of next decade compared with seven million today.China is the world's larg...

VW spending $2.2B to expand in China's electric car market

BEIJING (AP) — Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China’s electric car industry in the biggest foreign investment announced since the country's economy beg...

April European car sales see worst drop since records kept

MILAN (AP) — European car sales bottomed out last month as the automotive industry faces its worst crisis in decades. Strict lockdown measures to contain the coronavirus closed most...

GOP in power grab to rein in Dem governors on virus response

MADISON, Wis. (AP) — Republican-controlled legislatures are increasingly trying to strip Democratic governors of their executive authority to close businesses and schools, a power grab by lawmakers th...

BMW: Outbreak will slow auto industry 'for quite some time'

FRANKFURT, Germany (AP) — Automaker BMW saw net profit fall slightly in the first quarter from a year earlier, when the company had a large one-time expense. The company said it expected earnings to d...