Russia may impose restrictions or a ban on vehicle imports from Western countries, if the U.S. and EU impose additional sanctions on Moscow, Reuters reports quoting the Vedomosti.
The paper says that the proposals have already been sent to Putin for consideration but no decision has been made yet.
The new ban, however, would not apply to foreign automakers' production inside Russia. Ford (NYSE:F), Volkswagen (OTCQX:VLKAY), Renault (OTC:RNSDF), Toyota (NYSE:TM) and Hyundai (OTC:HYMLF) all have production facilities inside the country.
The planned merger of Fiat (OTCPK:FIATY) and Chrysler into a new entity called Fiat Chrysler Automotive will push forward only if Fiat has to spend €500M ($696M) or less to buy out shareholders not wanting to participate.
ISI Group estimates it would only take 5.18% of Fiat shareholders to take the buyout deal at 7.727 euros per share to reach the €500M level.
A tally on the number of shareholders exercising their buyout rights should be known by August 25.
China's National Development and Reform Commission (NDRC) says it will penalize Audi (OTCQX:VLKAY) and Chrysler (OTCPK:FIATY) following its comprehensive antitrust investigation into the Chinese auto parts industry.
"The two companies do have monopolistic practices. They will be punished soon," says NDRC secretary-general Li Pumin.
Many foreign automakers in China including Mercedes-Benz (OTCPK:DDAIY) and Jaguar Land Rover (NYSE:TTM) have slashed their products and spare parts prices in recent weeks due to the NDRC's probes.
Automobile prices in the U.S. rose 0.1% M/M and 2.1% Y/Y during July, according to estimates from Kelley Blue Book.
The increase is due largely to a slight shift in mix toward SUVs and crossovers. General Motors (GM -0.4%), Chrysler (OTCPK:FIATY), and Volkswagen (OTCQX:VLKAY) showed the biggest gains of the major automakers.
Edmunds sees the overall industry selling rate to be right at 16.8M units for the month.
Truecar.com has its eyes on the incentives being offered by dealerships. The firm estimates incentive spending was up 8.4% Y/Y in July to mark the biggest jump since 2010 as automakers looked to clear inventory.
July U.S. sales gains: GM +9.4%, Ford (NYSE:F) +9.5, Toyota (NYSE:TM) +11.6%, Nissan +11.4 (OTCPK:NSANY), Chrysler +19.7%.
A German magazine earlier this month reported VW Chairman Ferdinand Piech had held talks with Fiat owners about buying all or part of the group.
The CEO also says he still expects to list the merged Fiat Chrysler in the U.S. in the first two weeks of October, and says Q2 results, which will be released next week, were in line with expectations.
Fiat S.p.A. Torino is the holding company of the Fiat Group. Through its subsidiaries, Co. is engaged principally in the manufacture and sale of automobiles, commercial vehicles and agricultural and construction equipment. Co. is organized into operating sectors, divided in the two major...More