The business of American chemistry expanded 3.6 percent in 2015 despite global headwinds that included a strong appreciation of the U.S. dollar and a weakness in several key global markets.

Ford is investing an additional $4.5bn in electrified vehicle solutions by 2020 as well as changing how the company develops vehicle experiences for customers.

The Russian light-vehicle market has suffered its worst monthly decline of the year, which comes after a year of consistent accelerated falls in sales as a result of the collapse of the Russian economy, resulting from the weak ruble, sanctions from the EU and the U.S. and falling oil and gas prices. Sales in November fell by 42.7 percent year on year (y/y) to 131,572 units, which brought the year-to-date (YTD) sales momentum down further by 34.5 percent y/y to 1,454,253 units.

Annual sales of fuel cell vehicles, both passenger cars and buses, are expected to exceed 228,000 by 2024, according to a report from Navigant Research.

In the not-so-far-off future, teens won't bother getting driver's licenses, consumers will shun owning their own cars, and taxis will be replaced by "taxibots."