Summary ‘The global demand environment remains volatile,’ CEO says FedEx shares fall more than 5% in after-hours trading Uncertainty about Trump tariffs a big wild card for FedEx FedEx more exposed to China than UPS, whose shares dipped less than 1% LOS ANGELES, (Reuters) – FedEx on Tuesday signaled caution for the year ahead and forecast current-quarter profit short of market expectations amid … [Read more...]

Summary China has been shipping new cars as ‘used’ overseas since 2019 Chinese state media condemned the domestic ‘zero mileage’ used car market But local Chinese governments actively promote it to meet economic targets from Beijing BEIJING/SHANGHAI, (Reuters) – China’s auto industry has inflated car sales for years through a burgeoning government-backed grey market that registers new cars right … [Read more...]

Source : PTI | Tata Motors group is better equipped to deal with supply chain challenges arising from the ongoing Israel-Iran clash, China’s restriction of rare earth magnet exports and global tariff war, having learnt from the semiconductor crisis during the COVID-19 pandemic, top company officials said on Tuesday. Jaguar Land Rover (JLR), the company’s British arm that is facing a steep tariff … [Read more...]

Source : PTI | State-owned NHAI on Monday said it is taking proactive measures to address flooding and waterlogging on the National Highways across the country. Taking a multi-pronged approach to provide effective solution during monsoon, NHAI said it has launched a 15-day drive wherein NHAI officials, contractors and consultants are inspecting various stretches to identify critical areas which … [Read more...]

(Reuters) – Ford is recalling 132,914 Aviator SUVs in the United States because parts, including rear door window bars, may detach due to insufficient adhesive retention, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Tuesday. These detaching parts could pose a hazard to other road users and increase the risk of crashes, according to the NHTSA report. The recall covers … [Read more...]

PARIS, (Reuters) – French investigators on Tuesday ordered Tesla to stop what they called “deceptive business practices” or face thousands of euros in fines. Investigators at the finance ministry’s Competition, Consumer Affairs and Fraud Control office said the automaker had engaged in deceptive commercial practices over the fully autonomous driving capabilities of its cars, had issued sales … [Read more...]

Summary China has been shipping new cars as ‘used’ overseas since 2019 Chinese state media condemned the domestic ‘zero-mileage’ used car market But local Chinese governments actively promote it to meet economic targets from Beijing BEIJING/SHANGHAI, (Reuters) – China’s auto industry has inflated car sales for years through a burgeoning government-backed grey market that registers new cars right … [Read more...]

Summary Nissan faces scrutiny over crisis at annual meeting Espinosa plans cuts, including closing plants and shedding jobs Strategic Capital urges action on Nissan Shatai subsidiary TOKYO, (Reuters) – Nissan Motor shareholders vented their frustrations over the automaker’s poor performance at its annual general meeting on Tuesday, with some demanding greater management accountability for the … [Read more...]

Summary Filosa officially takes the job on Monday Shares fall after management team announcement CFO Ostermann and tech chief Curic confirmed Maxime Picat leaves group MILAN, (Reuters) – Stellantis new CEO Antonio Filosa started his tenure on Monday by retaining his previous role as head of the key North American market, while avoiding major changes to the French-Italian automaker’s senior … [Read more...]

Summary The U.S. auto workers union estimates it missed out on $80 million in potential stock gains UAW failed to follow its policy on asset allocation, missing bull market Federal monitor investigating UAW’s investment decisions DETROIT, (Reuters) – The United Auto Workers’ leadership is mired in turmoil over allegations of an investment blunder that officials say cost the union about $80 … [Read more...]

Source : PTI | Adani Group has commissioned India’s first off-grid 5 megawatt green hydrogen pilot plant in Kutch, Gujarat, the conglomerate said in a statement on Monday. An off-grid green hydrogen plant is a facility that produces hydrogen using electrolysis powered by renewable energy sources, such as solar or wind, and is not connected to the main electrical grid. This means the plant relies … [Read more...]

India has ramped up purchases of Russian oil in June, importing more than the combined volumes from Middle Eastern suppliers such as Saudi Arabia and Iraq, amid market volatility triggered by Israel’s dramatic attack on Iran. The US military struck three sites in Iran early Sunday, directly joining Israel which first struck Iranian nuclear sites on June 13. Indian refiners are likely to import … [Read more...]

Source : PTI | Heavy vehicles descending the Bhor Ghat section of the Mumbai-Pune Expressway might soon move down the slope a bit faster, with authorities considering an increase in the existing speed limits, officials and transporters have said. Deliberations are underway to raise the speed limit for heavy vehicles like trucks and buses from the current 40 kmph to 45-50 kmph on the downward … [Read more...]

(Reuters) – Electric car maker Tesla started a trial of its long-awaited robotaxi service in Austin, Texas, on Sunday, the first step toward what could be a showdown with Alphabet’s (GOOGL.O) Waymo, the only player currently offering fully autonomous paid rides in the United States. Tesla Chief Executive Elon Musk has started off with about 10 Model Ys and promised to focus on safety. He says … [Read more...]

LONDON, (Reuters) – Britain will aim to cut the electricity bills of thousands of companies under a new industrial strategy to be published on Monday, heeding calls from business to lower high energy costs that they say have damaged competitiveness and hindered growth. Under an industrial strategy for the decade 2025-2035, the government plans to cut the bills of electricity-intensive … [Read more...]

Summary Musk emphasizes safety, limits robotaxi operations to specific conditions Republican Texas governor signs bill regulating autonomous vehicles Law does not take effect until September About 10 cars carry invited riders in limited area, with no one behind wheel AUSTIN, (Reuters) – Tesla deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, … [Read more...]

Kochi,  June – Volkswagen India has set the stage for one of the most spectacular performance‑car delivery events in recent memory. EVM Volkswagen, a prominent dealer in Kerala, orchestrated a grand ceremony at the Ramada Resort, handing over 25 Volkswagen Golf GTI units to enthusiasts in a single day—arguably the largest-ever concentrated delivery for a CBU (Completely Built Unit) … [Read more...]

PARIS, (Reuters) – With Chinese automakers pushing into Europe, Stellantis and Renault are lobbying for a new, less-regulated category of small cars with fewer safety features, making them cheaper to build. Over the last two months, Stellantis Chairman John Elkann and Renault CEO Luca de Meo have engaged in a rare public campaign to get the European Union to consider the matter. The aim is to … [Read more...]

(Reuters) – Tesla is expected to tiptoe into its long-awaited robotaxi service in Austin, Texas, as soon as Sunday with about 10 of its Model Y SUVs that will operate within strict limits. CEO Elon Musk has said the company is being “super paranoid” about safety and that humans will remotely monitor the fleet. Remote access and control – known in the industry as “teleoperation” – is used in … [Read more...]

(Reuters) – Japanese carmaker Toyota Motor Corp will raise prices of some vehicles it sells in the U.S. by more than $200 from July, Bloomberg News reported on Friday. Some Toyota- and Lexus-branded models will have their prices increased by an average of $270 and $208, respectively, the report said, citing Nobu Sunaga, a spokesman for the company. Reuters could not immediately verify the … [Read more...]