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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • BMW Shows Off One-Off X7 Pick Up

    BMW Shows Off One-Off X7 Pick Up

    We’ve just about seen everything now. At this year’s BMW Motorrad Days, in addition to many bike highlights, a true one-off – the BMW X7 Pick-up. The conversion from SUV to pickup was performed by BMW Group vocational trainees in cooperation with the Concept Vehicle Construction and Model Technology divisions at the BMW Munich plant. Of course it is based on the BMW X7, and gets the 340 horsepower churning engine on the xDrive40i. The X7 pick up gets a handcrafted loading area boasting of fine-polished wood finish, a height-adjustable two-level air suspension and numerous high-class equipment details make this BMW X7 Pick-up an ideal companion for the diverse day-to-day uses and more.

    Behind the passenger cabin providing five persons, the BMW X7 Pick-up offers a generous loading area. The length of the loading space varies from 140 cm (closed) to 200 cm (open). Thanks to the intelligent use of CFRP on roof components, rear doors and the rear lid, it was possible to further reduce weight by 200 kg vs. the production model, despite a 10 cm longer body. The combination of honey-coloured teakwood and the BMW Individual colour Tanzanite Blue metallic – an exclusive navy blue finish that develops extra depth when exposed to sunlight – was inspired by yachting sports and creates a sophisticated look.

    In just ten months, the twelve trainees from the occupational sectors body and vehicle mechanics, vehicle mechatronics and technical model construction turned a concept into a fully functional, road-legal automobile in show car quality. The trainees were free to decide on conception and implementation, but had to forgo the additional expert assistance normally provided in concept car construction. The BMW X7 Pick-up is a one-off and series production is not planned for this product.

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  • BMW CEO Harald Krueger To Step Down From Board

    BMW CEO Harald Krueger To Step Down From Board

    The Chairman of the Board of Management of BMW AG, Harald Kruger, gave notice that he will not seek a second term of office. The Supervisory Board will address the matter of a successor during its next meeting on 18 July 2019. Until a decision has been made, Harald Kruger will hold his position as Chairman of the Board of Management. Harald Kruger assumed the position of Chairman of the Board of Management of BMW AG from Dr Norbert Reithofer on 13 May 2015.

    Under his leadership, the company put forward its new strategy which enabled the BMW Group to actively shape the transformation of the industry and the transition towards sustainable mobility of the future. With the largest model roll-out in the company’s history, vehicle deliveries reached new all-time highs, while at the same time the company systematically expanded its electromobility strategy. By 2023, the BMW Group will have 25 electrified models on the roads.

    As Chairman, Kruger further strengthened the significance of strategic partnerships – particularly in the area of breakthrough technologies such as highly automated driving. Additionally, the BMW Group has successfully merged its mobility services under a new entity. Moreover, the BMW Group significantly increased its role as a global player and, as the first international company, will be able to increase its share in its Chinese Joint Venture, BMW Brilliance Automotive, to 75%.

    Kruger said, “The BMW Group has been my professional home for more than 27 years. After more than ten years in the Board of Management, more than four of which as the CEO of the BMW Group, I would like to pursue new professional endeavours and leverage my diverse international experience for new projects and ventures. Over the last years, the automotive industry has been shaped by enormous changes, which have brought about more transformation than in the previous 30 years. This has demanded tremendous efforts from every employee within the company. For their outstanding commitment, I would like to personally thank each and every one of them. It has always been a true honour for me to work with this tremendous team and to set the BMW Group on a path towards a successful future during the most significant transformation of this industry.”

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  • Mercedes-AMG A45 4Matic+ Revealed

    Mercedes-AMG A45 4Matic+ Revealed

    The completely new 2.0-litre engine is the world’s most powerful turbocharged four-cylinder manufactured for series production. The engine is paired to an 8-speed AMG Speedshift gearbox The A45 can do the 0-100 kmph run in four seconds flat while the A45 S does it in 3.9 seconds. The A45 and the A45 S have an electronically limited top speed of 250 kmph and 270 kmph respectively. With the AMG driver’s package, the A45’s top speed can be bumped up to 270 kmph as well. The specific output of the cars is 208 bhp/litre, which is downright mental. Plus, the car also has a ‘Drift’ mode which can be activated by putting the transmission into manual and switching off the ESP and car being in the race mode. There are six driving modes on offer, which are slippery, comfort, sport, sport+, individual and race.

    The A45 gets 18-inch alloys as standard while the ‘S’ variant gets 19-inchers. The 18-inch alloys get a 10-spoke design while the 19-inch alloys have a 5 twin-spoke design. Plus, the standard model gets grey brake callipers with white AMG lettering while the ‘S’ model gets bigger 6-piston, red brake callipers with black AMG lettering. Apart from the driving modes, the A45 and the A45 S also get AMG Dynamics which is basically integrated vehicle dynamics control which can be used to alter the ESP settings, all-wheel control and steering characteristics. It is highly unlikely that Mercedes-Benz will launch the A45 in India given that the new-generation A-Class isn’t on sale as well. But, never say never!

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  • Volkswagen Says 50% Of Sales In China Will Be NEVs By 2035

    Volkswagen Says 50% Of Sales In China Will Be NEVs By 2035

    By 2035 half of Volkswagen’s sales in China will be new energy vehicles (NEVs), CEO Herbert Diess told a conference in Boao, China, on Tuesday, according to a company statement.

    Volkswagen intends to offer 14 electrified models in China this year. By 2028, more than half of the Group’s planned 22 million electric cars will be produced in China, the statement added.

    Volkswagen previously said it aimed to sell 400,000 NEVs in China next year and to sell around 1.5 million new energy vehicles in China in 2025.

    Volkswagen has joint ventures in China with FAW Group, SAIC Motor and JAC.

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  • Renault Duster Facelift Launch Date Announced

    Renault Duster Facelift Launch Date Announced

    The much-awaited 2019 Renault Duster facelift finally has a launch date, and the updated model will officially go on sale in India on July 8. In fact, Renault India recently also put out a teaser image for the facelifted Duster SUV, announcing the launch date. While globally, the Duster is already in its second generation, the India-bound model is still a few years away, and this new facelift is meant to keep the SUV relevant until the new-gen model arrives. Upon launch, the 2019 Renault Duster will continue to rival the likes of Hyundai Creta and Nissan Terrano.

    Visually, the facelifted Renault Duster borrows its styling cues from the new, Euro-spec Dacia Duster, mainly the front grille. The headlamps, however, are all-new and now feature both projector lights and LED daytime running lamps. The SUV also gets new bumper with a wider central air dam with a bull-bar like element, with black housings on either end with new round foglamps and additional lighting inserts.

    The updated Duster will also get a set of interesting-looking alloy wheels, however, the rest of the profile remains unchanged. At the rear, the SUV appears to get a flatter tailgate with matte black applique with the Duster branding and similar inserts on either end. The updated Renault Duster also comes with a redesigned rear bumper, while the taillamps remain unchanged. The updated Duster will meet the new crash norms and is likely to get a lot of safety equipment as standard like – dual airbags and ESC or an electronic stability control program.

    Under the hood the 2019 Renault Duster is likely to remain unchanged, offering the same 105 bhp 1.5-litre petrol and 1.5-litre diesel engine offered in two tunes 84 bhp and 108 bhp. The transmission duties will continue to be taken care of by a 5-speed and 6-speed manual gearbox with optional CVT automatic for the petrol and an AMT unit for the diesel model. However, both are likely to be Bharat Stage VI (BS6) ready.

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  • Bentley EXP 100 GT Teased Ahead Of Official Reveal

    Bentley EXP 100 GT Teased Ahead Of Official Reveal

    Bentley Motors will reveal the future of grand touring to the world on July 10, 2019 which also marks the company’s official 100th birthday. The car that the company will showcase will demonstrate the future of the brand and it’s called the Bentley EXP 100 GT. The new concept car will be a zero-emissions car, however, will it be all-electric or fuelled by hydrogen is something that the company has not let on. According to the company, the Bentley EXP 100 GT will be a ‘perfect blend of technology and craftsmanship’ and it shows in the teaser image provided too. The silhouette seen here gives us an idea that it is more coupe-like and that sloping roof will bring in a bit more style to the overall appearance of the car. The prominent wheel arches too cannot be sidelined and we have to say that it does look like a Continental GT from the future.

    The Bentley EXP 100 GT will also showcase the company’s path to bringing out new products to the portfolio. This is the company’s vision for the future of luxury mobility and it will not be about new design and features but also about the hand craftsmanship of materials which will set a benchmark in the industry. Yes, it is a grand tourer and Bentley’s vision of the future of luxury mobility, it will intelligently and sustainably enhance the owner’s grand touring experience, whether enjoying the thrill of driving or being driven autonomously.

    We wait to know more about the car and yes what all it has to offer

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  • BMW X6 Revealed; Global Launch In November

    BMW X6 Revealed; Global Launch In November

    BMW took the wraps off the new-generation X6 sports activity coupe. It is the third generation model and has been updated completely. Beginning with the looks, the X6 gets a bigger kidney grille up front and the headlamps are more angular than rounded. Plus, the grille itself has a lighting function should you choose to switch it on. The X6 is now more chiseled and wears a sculpted look as compared to the more rounded look that the outgoing model had. The new X6 also grows in size with the length growing by 26 mm to 4,935 mm and the width growing by 15 mm to 2,004 mm. The wheelbase too increases by 42 mm to 2,975 mm, although the height is now reduced by 6 mm at 1,696 mm.

    The interior has been updated as well. It has a minimalist, sporty look thanks to Vernasca leather upholstery and new dashboard design which is driver focussed. Like any other BMW SUV, the new X6 too gets a bunch of standard and optional features which include multifunction seats with massage function for the driver and front passenger, four-zone automatic climate control, thermoelectric cup holders, Panoramic roof, interior fragrance package and a Bowers & Wilkins 3D Surround Sound System.

    BMW will offer four engines on the new-generation X6 including two petrol and two diesel engines. There will be V8 petrol and straight six petrol engines making 530 and 340 bhp respectively. And there is an in-line 6-cylinder diesel engine in two states of tune, making 400 bhp and 265 bhp. All new BMW X6 models come as standard with an eight-speed Steptronic transmission, while intelligent all-wheel drive maximises traction, agility and directional stability.

    Other features on the new BMW X6 include air suspension wherein one can alter the ride height of the SUV through 80 mm, and there is an off-road package on offer as well but not on the BMW X6 M50i and the BMW X6 M50d.

    The other interesting feature is the BMW Intelligent Personal Assistant, which responds to the command of ‘Hey BMW’ and users can choose the name for the digital assistant as well. The assistant will be able to explain all sorts of different functions provide up-to-date information and assist the driver. The range of functions and skills available will be constantly expanded as part of regular updates, which can be carried out seamlessly on a smartphone and in car via remote software upgrade.

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  • New Audi S8 Unveiled Globally

    New Audi S8 Unveiled Globally

    Audi is all set to put up a big show in 2020. The German luxury carmaker has been testing a slew of new models which are scheduled to be launched in 2020. The new-generation Audi A8was unveiled a couple of years ago and the S8 prototype was soon spotted being tested at the Nurburgring circuit. Almost two years later, Audi has finally unveiled the full-blown performance sedan and the figures are rather impressive.

    The all-new 2020 Audi S8 is powered by a 4.0-liter twin-turbo V8 motor which churns out a 555 bhp and a humongous peak torque of 800 Nm which is enough for a car that weighs 2.5 tons. In addition, it also gets a 48-volt mild hybrid system for start-stop traffic condition which betters the fuel efficiency and performance. Now such manic power delivery also needs to be handled prudently and for the purpose, Audi has equipped the S8 with some advanced standard fitments. For instance, the new model gets predictive active suspension as standard which can raise or lower each wheel individually. The suspension helps to keep the body stable by predicting the road conditions. For example, forward-looking cameras can sense potholes and adjust the ride accordingly. Then, in the dynamic mode, the suspension limits the body roll to as low as 2.5 degrees which goes up to 5 degrees in the comfort mode. Other standard fitments include Quattro all-wheel-drive, all-wheel steering, a sport differential and carbon fiber ceramic brakes which measure at 16.5-inch in the front and 14.6-inch at the rear.

    Understated design has been a tradition at Audi and the same goes even for performance cars. The new S8 looks subtle and very similar to the A8. Though the face is a bit aggressive, there isn’t much drama to make it look busy. At the rear, it gets quad tailpipes set up and the S badging. Moreover, it gets sporty looking five-spoke alloy wheels as well. Upgrades on the inside are little more than subtle. It gets an exclusive upper inlay made of Carbon Vector that creates a special 3D effect. Matte aluminum trim and diamond-stitched seats with embroidered S badging are also something which differentiates it from the A8 sedan. The fully-loaded S8 will be equipped with five radars, six cameras, twelve ultrasound sensors and a laser scanner.

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  • Volvo Car India Registers 11 Per Cent Increase In Sales

    Volvo Car India Registers 11 Per Cent Increase In Sales

    Volvo Car India recorded 11 percent growth in its half-yearly sales in 2019. The company sold 1,159 units between January-June 2019, whereas it sold 1,044 units sold during the same time last year. Volvo said that the sales contribution from mini metros and Tier-I towns and solid demand for the company’s SUV range were the key factors for the growth. Volvo Cars India has witnessed a growth of 25 per cent in the last fiscal year. The company sold 2,687 units of passenger vehicles in FY2018-19 against 2,157 units which it sold in the previous year. FY19’s growth was largely driven by the XC40 compact luxury SUV which is the most affordable Volvo sold in India currently and was launched last year.

    Charles Frump – Managing Director, Volvo Car India said, “We are extremely happy with 11 percent growth in sales performance so far especially when the industry is not looking positive. Our brand engagement programs continue to play a crucial role in this performance. While the short term market performance looks tough, I am very confident the automobile growth will bounce back and we would be happy to replicate our sales performance of 2018.”

    Volvo India had already announced that it will be introducing 4 new electrified cars in the country in the next 3 years. In its commitment towards the environment and electrified future, Volvo Cars plans to slowly phase out conventional powertrains and focus only on electrification. The Next launch from Volvo in India will be the new-generation Volvo S60, which could be launched towards the end of 2019 or early 2020.

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  • Jeep Compass Based Seven-Seater SUV In The Works For India

    Jeep Compass Based Seven-Seater SUV In The Works For India

    The Jeep Compass was a game changer when it first arrived in 2017 and helped the Fiat Chrysler Automobile (FCA) cement the Jeep brand in the premium segment. Now, a report suggests that the American automaker is looking to further capitalize on the success of the Compass and is in working on a seven-seater version for the Indian market. A report states that the head honchos at FCA have approved a new top-of-the-line SUV under the Jeep brand that will hit the market by 2020-21. The new Compass-based seven-seater SUV will take on the likes of the Toyota Fortuner, Ford Endeavour, Skoda Kodiaq, Honda CR-V and the likes, when it goes on sale.

    Interestingly, Jeep’s plans to produce a seven-seater SUV for India aren’t new. However, the report states that the project was given the green light only now. The Jeep Grand Compass, as it is touted to be called, will get a proper 4×4 drivetrain and will be based on the all-new Compass that is in the works for 2020. The model will be produced at the automaker’s facility in Ranjangaon, near Pune and is likely to hit the market by the second half of next year or by early 2021.

    The new Jeep Grand Compass will help the American establish itself in the premium end of the SUV space, and solidify its position in the overall SUV space. The seven-seater SUV will be followed up with the more affordable subcompact offering in Jeep India’s stable that will hit the market in the following years. FCA said that the company had no comments at the moment on the same.

    It will be safe to say that the upcoming Jeep seven-seater SUV will retain the automaker’s DNA at its core, complete with the brand’s off-roading capabilities and premium positioning. Expect to see a host of new tech and features from the company’s global stable. Engine options are unclear at the moment, but Jeep is likely to offer both petrol and diesel versions. The 2.0-litre MultiJet II turbo diesel could be used on the new model too, albeit with higher power output.

    Meanwhile, Jeep India is currently in the process of upgrading the Compass to the BS6 regulations. The newly launched Compass Trailhawk already gets a BS6 ready engine, and other variants of the SUV will meet the new norms soon. The automaker is also likely to introduce the diesel automatic version of the Compass towards the end of this year or probably in the first half of 2020.

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  • Kia XCeed Revealed

    Kia XCeed Revealed

    Kia Motors took the wraps off the 2020 XCeed, which is an urban crossover utility vehicle. Kia says that it is an alternative to regular SUVs and is as practical as an SUV and as engaging as a hatchback. It will be launched in Europe in the third quarter of 2019 and will be positioned between the Kia Stonic and the Kia Sportage. The Kia XCeed has a sporty design which is all-new. The only the body panels were carried over from its five-door hatchback sibling are the front doors. While the wheelbase remains the same as other models in the Ceed line-up 2,650 mm, the Kia XCeed’s front and rear overhangs are extended over the five-door hatchback model by 25 mm at the front to 905 mm and 60 mm at the rear to 840 mm. The headlamps are newly-designed, with the Ceed’s ‘ice cube’ LED light signature sitting within a more angular shape along with slim indicators. The rear gets newly designed tail lamps which have the company’s signature styling.

    Kia will offer a range of turbo-charged engines on the XCeed. There will be a 3-cylinder 1.0-litre turbo petrol which makes 118 bhp and 172 Nm. The 1.4-litre turbo petrol makes 138 bhp and 242 Nm while the 1.6-litre turbo petrol pumps out 201 bhp and 265 Nm of peak torque. The XCeed is also available with a choice of a 1.6-litre Smartstream diesel engine in two states of tune which make 113 bhp and 134 bhp. Except for the 1.0-litre T-GDi, all engines can be paired with a choice of six-speed manual or seven-speed dual-clutch transmissions. The 1.0-litre engine is paired with a six-speed manual transmission. Kia will introduce low-emissions electrified powertrains, including 48V mild hybrid and plug-in hybrid options, will be launched into the Kia XCeed range later in 2020.

    The XCeed has a busy dashboard which is angled towards the driver. The interior gets soft-touch material and a satin chrome trim on the dashboard along with multiple upholstery options. Like the Kia Seltos, the XCeed too will get Kia’s UVO Connect and telematics system. There will be Apple CarPlay and Android Auto on offer as well. Other optional features include a JBL premium audio system with Clari-Fi technology, dual-zone air-conditioning, heated electric folding door mirrors, heated steering wheel, heated windscreen, heated and ventilated front seats and heated rear seats.

    Kia will manufacture the XCeed at its manufacturing facility in Zilina, Slovakia along with the Ceed, Ceed Sportwagon and the ProCeed Shooting Brake.

  • Tata Harrier To Get Dual-Tone Colours

    Tata Harrier To Get Dual-Tone Colours

    The Tata Harrier is all set to get the option of dual-tone colors soon. Tata Motors has released a teaser of the compact SUV with the new black with orange and black with silver color schemes, and it is the roof as well as pillars that get the black treatment. The update comes about six months into the launch of the Harrier in India, and will also keep the model relevant amidst new competitors including the newly launched MG Hector, Jeep Compass Trailhawk and the upcoming Kia Seltos.

    Since its launch, the Tata Harrier was available only in mono-color tones, while the dual tone was made available at the dealer level with several showrooms providing the option of a roof wrap. The Harrier dual-tone version though will come from the factory and is likely to be offered on the range-topping XZ trim. Expect prices to see a marginal increase by about ₹ 30,000, up from the current asking price of ₹ 16.55 lakh (ex-showroom, Delhi) for the XZ trim. The Harrier is currently offered in five colors – Calisto Copper, Ariel Silver, Thermisto Gold, Telesto Grey and Orcus White.

    Dual-tone color options have been really popular amidst new and young car buyers, and Tata Motors has already been offered the same on its other vehicles including the Tiago, Nexon and the Hexa. Other manufacturers offer the dual-tone color option as well in the segment. It’s unclear if the Tata Harrier will get any other changes apart from the dual-tone paint scheme. Since its launch in January this year, the SUV has remained largely unchanged barring the addition of Apple CarPlay connectivity to its infotainment system. The SUV did receive its first price hike last month with it costing more by ₹ 31,000.

    With respect to power, the Tata Harrier uses a Fiat-sourced 2.0-liter turbo diesel engine that develops 138 bhp and 350 Nm of peak torque. The motor is paired with a 6-speed manual gearbox. Tata is developing the BS6 version of the Harrier that is likely to go on sale by the end of this year. Tata will also introduce the Hyundai-sourced 6-speed torque converter on the Harrier later, while a 1.6-litre turbo petrol version is also lined up. The seven-seater version – Tata Buzzard – will hit the showrooms in 2020, after making its India debut at the Auto Expo next year.

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  • Honda To Recall 1.6 Million Vehicles, Finish Takata Recalls Early

    Honda To Recall 1.6 Million Vehicles, Finish Takata Recalls Early

    Honda is recalling 1.6 million vehicles in the U.S. to replace potentially deadly Takata air bag inflators, completing its required recalls six months ahead of schedule, the automaker said Friday.

    When the latest recall is done, Honda says it will have recalled or accounted for 22.6 million inflators in about 12.9 million vehicles.

    Takata inflators can explode with too much force and blow apart a metal canister, spewing shrapnel. Twenty-four people have been killed and hundreds injured by the inflators worldwide. Honda was Takata’s largest customer.

    The Japanese company, which was forced into bankruptcy by the troubles, used the volatile chemical ammonium nitrate to create a small explosion and inflate the air bags. But the chemical deteriorates when exposed to high temperatures and humidity and can burn to fast, blowing apart the canister designed to contain the explosion.

    The recalls include many Honda and Acura models from 2003 through 2015. All received replacement inflators made by Takata before February of 2017 and were scheduled to be recalled a second time to replace those with inflators made by another company.

    Affected Honda models include the 2001-2012 Accord, the 2010-2015 Crosstour, the 2001-2011 Civic, 2002-2011 CR-V, the 2011-2015 CR-Z, the 2003-2011 Element, the 2007-2014 Fit, the 2010-2014 Insight, the 2002-2004 Odyssey, the 2003-2015 Pilot and the 2006-2014 Ridgeline. Acura models include the 2003 3.2CL, the 2013 ILX, the 2003-2006 MDX, the 2015 RDX, the 2005-2012 RL, the 2002-2003 3.2TL, the 2009-2014 TL, the 2009-2014 TSX, and the 2010-2013 ZDX.

    Honda said it has completed repairs or accounted for 83 percent of the, among the highest in the auto industry. Some of the inflators have been found in scrap yards or the vehicles are no longer in use.

    Owners will be notified by letters starting in mid-August, and Honda is urging people to schedule repairs as soon as possible.

    Nineteen automakers are recalling about 70 million inflators in what has become the largest string of automotive recalls in U.S. history. The recalls are taking place on a schedule set by the National Highway Traffic Safety Administration.

    The recalls do not include inflators that have a moisture-absorbing chemical. The government will decide by the end of this year whether those should be recalled.

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  • Tesla Model 3 Is Norway’s Top Selling EV Last Month

    Tesla Model 3 Is Norway’s Top Selling EV Last Month

    Almost half of new cars sold in Norway in the first six months of 2019 were powered by fully electric engines, up from just over a quarter in the same period last year, ensuring the Nordic nation retains its top global ranking in electric vehicle sales. Tesla’s Model 3 was Norway’s top-selling vehicle, the Norwegian Road Federation said when announcing the latest sales data on Monday.

    In total, 48.4% of all new cars sold from January to June were electric, surpassing the 31.2% seen for the full year 2018, and making oil-producing Norway the global leader in per-capita electric car sales by a wide margin.

    Seeking to end the sale of diesel and petrol engines by the middle of the next decade, Norway exempts battery-driven cars from the heavy taxes imposed on vehicles powered by fossil fuel. It also offers benefits such as discounts on road tolls. The policy has boosted brands such as Tesla, Nissan, Hyundai and BMW, which all offer fully electric vehicles, rather than hybrids that use electric motors to drive the car but also have a combustion engine

    Brands without fully electric offerings, such as Ford and Daimler’s Mercedes-Benz, have seen sales drop, although Ford and Mercedes are among several automakers that have promised to offer electric cars in Norway from 2020. California-based Tesla sold 3,760 vehicles in Norway in June, for a 24.5% share of all cars during the month, and was also the top-selling brand for the first six months.

    Most of its sales were of the mid-sized Model 3, while the bigger Model S and Model X have seen lower year-on-year volumes.

    The International Energy Agency, which includes the more widely-sold plug-in hybrids when counting electric cars, measured Norway’s share at 39% of sales in 2017, far ahead of second-placed Iceland on 12% and Sweden on 6%

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  • Aston Martin’s Biggest Investor Considers Acquiring Another Stake

    Aston Martin’s Biggest Investor Considers Acquiring Another Stake

    The biggest investor in Aston Martin is considering buying another 3% stake, offering to increase its holding after shares in the luxury carmaker crashed almost 50% since its listing nine months ago.

    Strategic European Investment Group, part of the Italian private equity group Investindustrial, owns 31% of Aston Martin. It only wants to buy a maximum 3% stake but has to make an offer to all shareholders due to its already large holding.

    It has secured agreements from existing shareholders such as a group of Kuwait-based investors to back the move.

    It is offering to pay 10 pounds ($12.68) per share, the price at which the shares closed on Friday. It must make a decision by July 29.

    Aston Martin has struggled since it listed in October last year. Its shares fell on the opening day and are now down 47 percent. The company’s recent results have been hit by a need to invest more in its manufacturing plants and expand its vehicle offering, leading to higher costs.