Headlines for Monday, April 16, 2012
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BMW's Brazil sales slump 30% after tax hike on imported cars
BMW posted a 30 percent drop in first-quarter sales in Brazil due to a tax rise for imported cars, Henning Dornbusch, the company's country head, said. The tax, aimed at protecting automakers who produce locally, has forced BMW to raise its sticker prices and find other ways of absorbing the costs. Read More »
Toyota turns to BMW to power European rebound against VW
Toyota, which was overtaken by Volkswagen in global sales last year, is striking back on the German automaker's home turf. Read More »
VW favors Mexico for Audi plant
Volkswagen Group is leaning toward building a factory in Mexico for its premium Audi brand. The parent company favors Mexico for the North American assembly plant over a site on the grounds of its U.S. manufacturing complex in Chattanooga, Tenn. Read More »
