The Trader 

Death of diesel

The Trader

Today UK Environment Secretary Michael Gove will announce that sales of diesel powered vehicles will be banned from 2040.  This follows a similar announcement by President Macron of France, he too aiming at the same year.  Oil producer Norway is more ambitious targeting a phase out by 2025.  An emergency meeting of VW’s supervisory board has been called today to discuss how to tackle accusations that 5 German car makers have been operating a price rigging cartel for years.  Yesterday US auto-maker GM announced that Q2 2017 profits had slumped to $1.7 billion from $2.9 billion this time last year.

 

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