BRIEFS - VW replaces US boss
Published:Sunday | June 27, 2010 | 12:00 AM
- VW replaces US boss
DETROIT (AP):
Stefan Jacoby, Volkswagen AG's top US executive, has been replaced as he continues contract talks with the company, and after a report that he has been hired to run Volvo.
Two executives will take over Jacoby's duties while he negotiates with the company, VW said in an unusual statement released Thursday afternoon.
The German newspaper Frankfurter Allgemeine Zeitung reported Thursday that Jacoby, the public face of VW's ambitious US expansion plans, had been hired to run Swedish automaker Volvo.
- Car tax to go in Mexico
MEXICO CITY (AP):
Mexico is phasing out its car ownership tax in a bid to stimulate the struggling industry.
Starting now, buyers will not have to pay duties on the value of new cars up to 250,000 pesos (US$19,800).
President Felipe Calderon says the tax will be eliminated entirely December 31, 2011.
The annual tax was created in the 1960s to help pay for the Olympic Games that Mexico hosted in 1968. It amounts to three per cent of a vehicle's value.