(Reuters) – Volkswagen on Friday said its first-quarter operating profit for the core brand group, which includes its best-selling VW brand, declined by 46.3%, impacted by EU carbon provisions and write-downs on inventory related to U.S. tariffs. The operating profit for the core brand group fell to 1.12 billion euros ($1.27 billion) from 2.08 billion a year ago, while its VW passenger car unit … [Read more...]

(Reuters) – Electric vehicle maker Polestar is recalling 27,816 cars in the United States due to a rearview camera issue, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday. The recall, on Polestar 2 models that were sold in the United States before 2025, comes days after the Swedish company paused its 2025 forecast, citing potential impact from sweeping U.S. … [Read more...]

(Reuters) – Canadian auto parts supplier Magna International said on Friday that it plans to implement cost-saving measures to cushion the hit from U.S. President Donald Trump’s sweeping tariffs. The cost-cutting plans come after the company missed first-quarter profit estimates due to a 3% decline in global vehicle production, with Magna especially impacted by Tata Motors’ Jaguar halting … [Read more...]

Summary Musk’s EV brand struggling with stiff China competition Europeans protest against Musk’s political views Tesla April sales at lowest in years in Sweden, the Netherlands Model Y deliveries in Europe expected to start in June (Reuters) – Tesla’s sales plunged across Europe in April, including an 81% drop in Sweden to their lowest level in 2-1/2 years, data showed on Friday, as Europeans … [Read more...]

Summary US, Japan had ‘frank and constructive’ talks, Treasury says US negotiators were reluctant to lower levies, Nikkei reports Next meeting expected in mid-May WASHINGTON/TOKYO (Reuters) – Top U.S. and Japanese officials agreed to start immediate working-level consultations after “frank and constructive” trade talks in Washington on Thursday, the U.S. Treasury Department said on Friday, but … [Read more...]

(Reuters) – Chinese carmakers including BYD and Chery (CHERY.UL) are selling more plugin-hybrids in the European Union to avoid import tariffs on Chinese-made electric cars, data released on Friday showed. The two brands sold 3,269 and 757 plugin-hybrid vehicles (PHEVs), respectively, in the bloc in March, up from near zero sales in July 2024 when provisional tariffs were first introduced, … [Read more...]

WASHINGTON, (Reuters) – The U.S House of Representatives voted Thursday to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states. The House backed legislation to repeal a waiver granted by the U.S. Environmental Protection Agency under former President Joe Biden in December, allowing California to mandate at least 80% electric … [Read more...]

(Reuters) – Ford Motor on Thursday reported a 16% rise in U.S. auto sales for April, aided by strong truck demand and its employee pricing program. Still, its EV sales fell 40%. Demand for vehicles has remained strong, with consumers trying to quickly snap up vehicles before prices potentially surge after U.S. President Donald Trump’s tariff policies. Toyota Motors’ North American unit also … [Read more...]

Summary Tesla board defends Musk amid investor concerns, report it considered replacing him Finding a new CEO would be extremely difficult, investors say Tesla’s stock value relies mostly on Musk’s promises of robotaxis, robots (Reuters) – Tesla’s board on Thursday rushed to defend its chief executive, Elon Musk, assuring he had the board’s confidence amid rising investor worries about his … [Read more...]

Summary AI model aims to promote deals by offering more certainty on future pricing Pentagon will continue to fund the AI program through at least 2029 More than 30 companies have joined non-profit Critical Minerals Forum (Reuters) – A U.S. government-created artificial intelligence program that aims to predict the supply and price of critical minerals has been transferred to the control of a … [Read more...]

(Reuters) – Harley-Davidson on Thursday suspended its annual forecasts as the motorbike maker navigates headwinds related to U.S. President Donald Trump’s tariffs. Harley said it would deal with the current economic situation through cost cuts, mitigating risks within its supply chain, tightening operating expenses and reducing dealer inventory. Shares of the company rose about 1% in premarket … [Read more...]

Summary Tesla sales dropped 59.4% year-on-year in France last month Its sales fell 67.2% year-on-year in Denmark Ageing line-up, competition, anti-Musk protests hitting sales (Reuters) – Tesla sales fell in France for a fourth straight month in April and also dropped in Denmark, data showed on Thursday, the latest sign Elon Musk’s EV brand continues to struggle as Europeans buy more Chinese cars … [Read more...]

DETROIT, (Reuters) – General Motors cut its 2025 profit forecast on Thursday after receiving some clarity and reprieve from the White House this week on automotive tariffs. CEO Mary Barra told shareholders in a letter that the company would maintain strong dialogue with the Trump administration on trade and other policies as they evolve. “There are ongoing discussions with key trade partners that … [Read more...]

Source : PTI | JBM Electric Vehicles on Wednesday announced a strategic partnership with Hitachi ZeroCarbon for deploying battery management solutions in its e-buses. As part of the collaboration, Hitachi’s ZeroCarbon BatteryManager solution will be deployed in JBM electric buses to collect real-time data from the pilot fleet and deliver actionable insights regarding charging patterns, route … [Read more...]

Summary Company may adjust pricing strategy amid U.S. tariffs CEO Hallmark says U.S. stockpile sufficient until early June Company posts narrower-than-expected Q1 loss, affirms full-year view Analysts highlight ample stock at U.S. dealers as advantage (Reuters) – Aston Martin will split the costs resulting from U.S. tariffs between the company and its customers, and will sell down its U.S. … [Read more...]

Summary Stellantis and Mercedes-Benz withdraw financial guidance Follows similar moves by General Motors and Volvo Cars Volkswagen’s downbeat guidance doesn’t factor in tariffs LONDON, (Reuters) – Unable to predict the impact of U.S. President Donald Trump’s ever-changing trade war, Stellantis and Mercedes-Benz became the latest automakers on Wednesday to scrap their profit guidance citing … [Read more...]

Summary Q1 EBIT drops 41% to 2.3 billion euros In talks with Trump team to boost US manufacturing presence Q1 car and van sales down 10% in Europe, China; up 1% in US BERLIN, (Reuters) – Mercedes-Benz on Wednesday pulled its earnings guidance for 2025 amid uncertainty over the impact of U.S. President Donald Trump’s tariffs on car imports, as the German automaker posted sharply lower … [Read more...]

Summary Porsche profit warning weighs on Volkswagen guidance Too soon to factor trade war into outlook, CFO says Higher battery-electric sales diluted margins Costs must come down to stay competitive – CFO STUTTGART, Germany, (Reuters) – Volkswagen said on Wednesday that profit margins this year were likely to be towards the bottom of its guidance range and joined a chorus of automakers warning … [Read more...]

(Reuters) – Tesla board members reached out about a month ago to several executive search firms to find a successor to CEO Elon Musk, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions. The current status of the board’s push, which, according to the report, was sparked by Musk’s heavy involvement with the Trump administration, could not be determined, WSJ … [Read more...]

(Reuters) – Tesla in an update on Semi, said that the first units of the electric trucks will be on the production line by the end of 2025 at its Nevada gigafactory campus. Dan Priestley, who leads the Semi program at Tesla, said in a video posted to YouTube on Monday, that the factory has an annual capacity of 50,000 units, adding that the company will prepare for high volume production over the … [Read more...]