Summary Tariffs set to cause “significant” damage to auto industry, Seoul says Government plans tax cuts, subsidies, and financing to boost domestic demand Hyundai Motor maintains prices despite tariffs, plans $21 billion U.S. investment SEOUL,  (Reuters) – South Korea on Wednesday announced emergency support measures for its auto sector, seeking to reduce the blow of U.S. President Donald … [Read more...]

DETROIT, (Reuters) – General Motors GM.N is discontinuing the Cadillac XT6 gasoline-powered three-row SUV at the end of 2025, the automaker said on Tuesday. The XT6 is built at Spring Hill Assembly in Tennessee where GM also produces the smaller gasoline-powered Cadillac XT5 SUV, which GM will continue making through the end of 2026. The Spring Hill plant also has the Cadillac electric SUVs Lyriq … [Read more...]

Source : PTI | The electric vehicle segment is set for rapid growth as its penetration in the domestic passenger vehicle segment may touch 12-13 per cent over the next 4-5 years amid favourable government policies and mainstream OEMs driving in models to cater to diverse customer needs, Hyundai Motor India Whole Time Director and COO Tarun Garg said. There is now clarity in the industry that … [Read more...]

Source : PTI | Tata Steel on Monday reported a 5 per cent fall in its consolidated steel production to 7.45 million tonnes (MT) for the last quarter of FY25, mainly due to ongoing transition at the company’s operations in the UK. The company had produced 7.85 MT in the January-March quarter of the preceding 2023-24 fiscal, with 0.31 MT coming from the UK plant. In FY25, the consolidated steel … [Read more...]

BRUSSELS, (Reuters) – The European Commission bowed to pressure from EU countries to water down countermeasures against U.S. President Donald Trump’s tariffs on steel and aluminium, removing U.S. bourbon from its list of targets. The European Commission had planned to impose extra duties on up to 26 billion euros ($28.4 billion) of U.S. imports in response to U.S. 25% tariffs on steel and … [Read more...]

Summary Japan’s economy faces potential 0.8% growth loss due to US tariffs Treasury’s Bessent, USTR Greer to lead US-Japan trade talks Japan urges Trump to reconsider tariff policies Japan among 50-70 countries seeking trade talks with US China isolates itself by retaliating against US tariffs, Bessent says WASHINGTON, (Reuters) – Japan is sending a team to negotiate on trade, U.S. President … [Read more...]

(Reuters) – German carmaker Mercedes-Benz said on Monday its first-quarter unit sales of cars and vans fell 7%, hit by declining demand in China and Europe. Deliveries fell to 529,200 cars and vans in the January-March period, compared with 568,400 units last year, while sales of battery electric vehicles dropped even more sharply by 10%, to 45,500 vehicles from 50,500 a year ago, the company said … [Read more...]

BEIJING, (Reuters) – China’s Horizon Robotics announced on Monday that it would cooperate with Volkswagen on advanced driver assistance solution, extending its co-operation with the German automaker. Its Horizon Superdrive smart driving solution will land in VW models through VW software unit Cariad’s research and development with Carizon – Cariad’s joint venture with Horizon Robotics, according … [Read more...]

(Reuters) – Shares of India’s Tata Motors sank 10% on Monday, set for their worst day in over three years, as its luxury car unit Jaguar Land Rover paused exports of its British-made cars to the U.S. after President Donald Trump’s 25% tariff came into effect. The slide on the day has taken the stock’s tumble to 22% since Trump announced the import duties on March 26. In that period the benchmark … [Read more...]

TOKYO, (Reuters) – Nissan Motor is considering shifting some domestic production of U.S.-bound vehicles to the U.S., the Nikkei reported on Saturday, as President Donald Trump ramps up trade tariffs on nations worldwide. As early as this summer, Nissan plans to reduce production at its Fukuoka factory in western Japan and shift some manufacturing of its Rogue SUV to the United States to mitigate … [Read more...]

TOKYO, (Reuters) – Toyota aims to have about 15 electric vehicle models developed on its own by 2027 and is targeting production of about 1 million cars a year by then, the Nikkei newspaper said on Sunday. Toyota declined to comment, saying the information was not announced by the company. Toyota has five EV models developed in-house, manufacturing them only in Japan and China, the Nikkei said. … [Read more...]

Summary EU retaliation proposal expected Monday, with vote on Wednesday EU seeks unity amid differing opinions on best response EU executive chief to host steel, cars, pharma CEOs BRUSSELS, (Reuters) – European Union countries will seek to present a united front in the coming days against U.S. President Donald Trump’s tariffs, likely approving a first set of targeted countermeasures on up to $28 … [Read more...]

(Reuters) – Nissan Motor said on Thursday it will not take new orders from the U.S. for two Mexican-built Infiniti SUVs, following auto tariffs levied by U.S. President Donald Trump, in a drastic scale-back of its operations at a joint venture plant. Nissan also said it will now maintain two shifts of production of the Rogue SUV at its Smyrna, Tennessee, plant after announcing in January it would … [Read more...]

Summary Automakers offer discounts amid tariff uncertainty, boosting short-term sales Stellantis extends employee-discount program to wider market Senator Cruz says an automaker has warned of potential $4,500 price hikes due to tariffs (Reuters) – Automakers are offering deals to anxious customers to ride a short-term surge in shopping, while also warning lawmakers that they will have to raise … [Read more...]

DETROIT, (Reuters) – Hyundai Motor is keeping sticker prices on its current model lineup steady for the next two months, the company said Friday, in an effort to ease shoppers’ concerns that fallout from tariffs will affect dealer lots. “We know consumers are uncertain about the potential for rising prices and we want to provide them with some stability in the coming months,” José Muñoz, president … [Read more...]

Summary Protest against Musk’s political views hurting Tesla brand, sales 2025 sales seen falling 9% after disappointing Q1 – investor Anticipated cheaper car, refreshed Model Y demand seen key to 2025 growth Likely fall in sales expected after first-ever decline in 2024 (Reuters) – CEO Elon Musk pledged Tesla would return to growth this year after the company posted its first-ever sales decline … [Read more...]

Source : PTI | Recyclers in India have collected 2,570.26 metric tonnes of lithium-ion waste batteries from electric vehicles (EVs) over the past three years, the government informed Parliament on Thursday. Union Minister of State for Environment Kirti Vardhan Singh shared this information in the Rajya Sabha in response to a question from Congress MP Renuka Chowdhury. However, he did not disclose … [Read more...]