Today’s In the News segment is back to keep you informed of latest transportation news from around the world. You’ll read about a new technology that enables cars to communicate with one another, the increasing demand for private jets in Brazil and a growing enthusiasm among auto industry players for the Southeast Asian market.
- Volvo Eyes China’s Rich
Volvo’s new cars are sporting luxury features and designer glitz to catch the eye of China’s rich. With headlights shaped like Thor’s hammer and space for a humidity-controlled cigar case, the XC90 SUV will will be a make or break model for a company moving into a premium market dominated by German rivals. It will be the first fully new car under Chinese parent Zhejiang Geely Holding Group Co, which acquired Volvo four years ago. The XC90 will be followed next year by a S90 sedan, aimed at the United States and China, which is expected to become the world’s biggest premium market by 2020. (Reuters)
- Researchers to Develop Car-to-car Communication
In the near future, your car could be communicating with other cars on the road in an effort to keep you safe. The Obama administration said it is taking a first step toward requiring that future cars and light trucks be equipped with technology that enables them to warn each other of potential danger in time to avoid collisions. A research report released by the National Highway Traffic Safety Administration estimates that such technology could eventually prevent 592,000 left-turn and intersection crashes a year. The technology uses a radio signal to continually transmit a vehicle’s position, direction and speed. (The Day)
- More Wealthy Brazilians Prefer Private Jet
An increasing number of wealthy Brazilians are keeping the demand for private jets strong at NetJets, a subsidiary of Berkshire Hathaway. The company pioneered fractional ownership for private jets 50 years ago; its clients include wealthy individuals who pay for a stake in an airplane in exchange for flight hours. According to the World Wealth Report, the number of high-net-worth individuals in Brazil rose 17 percent to 172,000 between 2009 and 2013. Brazil’s biggest companies have seen revenue and profit grow over the past four years even as the economy has slowed. At the same time, commercial airlines are cutting back on first class seating in favor of business class. (Bloomberg)
- Indonesia Poised to Overtake Thai Car Market
Thailand’s automotive industry faces a challenge from Indonesia to its status as the biggest car market in Southeast Asia. According to the ASEAN Automotive Federation, Indonesia is expected to become Thailand’s arch rival once the ASEAN Economic Community is integrated in late 2015. Indonesia’s government reportedly has a roadmap to produce 4.18 million vehicles by 2025. Meanwhile, auto industry executives are starting to see Southeast Asia as a major growth market for the industry. (Bangkok Post)
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