FG may inject N300bn into auto industry – Punch Newspapers

FG may inject N300bn into auto industryRasheed BisiriyuThe Federal Government plans to inject N300bn into the nation's vehicle assembly plants as part of measures to accelerate the development of the automotive industry. Already, contributions into a support fund initiated to facilitate the vehicle production finance scheme have risen to N11bn. Aliyu spoke on 'Achieving 2013-2020 Nigerian Automotive Industry Development Plan under the current regime: How feasible?' at a capacity building workshop for motoring journalists. Aliyu, who was represented by the Director, Special Duties, NADDC, David Oyetunji, said the auto support fund was an indication of the government's resolve to provide the necessary encouragement for the development of the auto sector. "The automotive industry is the cornerstone for establishing a self-sustaining economy and upgrading the standard of living both in the developing and developed economies," he stated.

Washington Post auto industry reporter Warren Brown dies at 70

WASHINGTON — Warren Brown, The Washington Post reporter and columnist who covered the automotive industry, has died Thursday. Brown, 70, died after years of issues related to kidney disease. He also covered his health struggles, detailing his journey when he received a kidney transplant from his Washington Post colleague Martha McNeil Hamilton in 2001. According to The Washington Post, Brown joined the newsroom in 1978 as a national reporter, but eventually went on to specialize in covering the auto industry for the paper. The Louisiana native wrote in his 2009 farewell column: "What began as a news beat in 1982 became and remains a mission.

U.S. auto industry predicts soaring car prices and job loss if Trump tariffs imposed

As it stated in The average price of imported vehicles sold in the United States could jump by thousands of dollars if the Trump administration imposes tariffs under a worst-case scenario provided by the Center for Automotive Research. The Michigan-based think-tank estimates U.S. consumers would see the average price of new imports rise by US$6,875, if a 25 per cent tariff is applied, or up to US$2,750 if a 10 per cent tariff is imposed to imports from all countries. Story continues belowThe impact on American consumers would be substantially less if Canada and Mexico – partners with the United States under the North American Free Trade Agreement – are exempted. The report was issued ahead of congressional hearings into the Trump administration's threat of tariffs or quotas to protect its national security. READ MORE: Trump trade war highlights need for fewer barriers between provinces: TrudeauPresident Donald Trump's strategy appears aimed at returning the auto supply chain back to the United States.

collected by :Catlin Logan