Word: auto
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...Barack Obama and John McCain are as serious as they say they are about ending U.S. dependence on foreign oil, they might want to dispatch a trusted aide or two to the Paris Auto Show, a biennial global industry extravaganza that opened last week...
...change of heart? Basic economics. Fewer than 1 million cars were sold in the U.S. last month - the lowest monthly figure in 15 years - as car loans and job prospects dried up for many Americans. And in Europe, where nearly half of car purchases are financed, auto executives have told reporters that they are bracing for tough times ahead. (Click here to see the most important cars of all time...
...sell between 100,000 and 200,000 Volts a year in the U.S. from 2010; the car would switch to regular fuel once the electricity runs out. Renault will roll out its ZE (for zero emissions) electric car in Europe in 2011, and Tenenbaum estimates that by 2015, auto companies will have sold about 2.5 million electric cars in Europe - about 15% of all vehicles driven on the Continent...
...perfect. First, if oil prices continue dropping, perhaps to last year's $60-per-bbl. mark, drivers may opt to keep their old cars, especially if the recession in the U.S. and Europe deepens and car loans get even harder to obtain. In debt and facing slumping sales, the auto industry is also competing against flush high-tech companies in Silicon Valley, which are also racing to perfect a lithion-ion car battery. What's more, the billions that the auto companies are spending in research could be squeezed during the recession, especially since it is difficult to estimate...
...Auto Loans...