U.S. President Donald Trump on Tuesday will push the chief executives of General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles NV to increase production in the United States and boost American employment.
The United States must stick to international agreements under the presidency of Donald Trump, German Finance Minister Wolfgang Schaeuble said on Friday, adding that he did not expect a major trade war despite Trump's attack on German car makers.
U.S. President-elect Donald Trump has threatened Toyota Motor Corp over its Mexican-built cars, but the biggest risk from a punitive tariff would be for its compatriot Nissan Motor Co, the largest automaker operating in the country.
Major automakers in the U.S. market are expected to show robust December auto sales on Wednesday, perhaps high enough for 2016 results to break the record high set the previous year, according to a poll by Thomson Reuters.
Hefty consumer discounts during a robust Black Friday weekend helped boost November U.S. auto sales between 4 % and 5 %, which could catapult results this year above a record high in 2015, economists and industry analysts said.
U.S. retail sales unexpectedly fell in March as households cut back on purchases of automobiles and other items, further evidence that economic growth stumbled in the first quarter. Other data on Wednesday showed a surprise drop in producer prices last month as rising energy prices were offset by a decline in the cost of services.
The big three U.S. automakers - General Motors Co, Ford Motor Co and the U.S. operations of Fiat Chrysler Automobiles NV - reported a jump in September sales on Thursday as cheap gasoline and ultra-low interest rates drove demand for sport utility vehicles and pickup trucks.
General Motors Co agreed to pay $900 million and admit to misleading the government and the public about the safety of its vehicles to end a U.S. criminal investigation into its handling of defective ignition switches linked to 124 deaths.