Tesla said the currently weakening market for electric cars is presenting the company with challenges. Source: autonews.com … [Read more...]
Renault Q1 sales rise 1.8%, helped by financing business
Renault is benefiting from robust prices and cost discipline with demand for a range of models such as the electric Megane E-Tech countering slower EV sales. Source: autonews.com … [Read more...]
Tesla cuts marketing team a year after Elon Musk said it will try advertising
Tesla slashed a newly formed marketing team as part of companywide layoffs, reversing course from a traditional advertising push that CEO Elon Musk greenlighted less than a year ago. Source: autonews.com … [Read more...]
AESC expands EV battery investment for next-gen BMWs in U.S.
The plant is expected to come online in 2027 and supply BMW's U.S. assembly plant, where the automaker plans to produce at least six EV models by 2030. Source: autonews.com … [Read more...]
VW to face investors skeptical of China turnaround plan
VW has failed to shake negative investor sentiment since model delays and software missteps prompted the company to replace then-CEO Herbert Diess with Porsche head Oliver Blume who has since put in place new partnerships in China, such as a JV with XPeng. Source: autonews.com … [Read more...]
Tesla's Elon Musk faces robotaxi skeptics, sales drop in Q1 earnings report
CEO Elon Musk will face tough questions after a Q1 sales decline and reports Tesla stopped work on an affordable EV in favor of a dedicated robotaxi without human controls. Source: autonews.com … [Read more...]
Inside World of Volvo, the automaker's shrine to sustainability
The joint venture between Volvo Cars and Volvo Group will serve as a central marketing opportunity and consumer touchpoint for the brands. Source: autonews.com … [Read more...]
Tesla cuts prices in Europe, U.S., China amid sales slump
Tesla cut prices in its major markets including in the U.S., Europe and China amid slumping sales and a glut of inventory. Tesla reduced the starting price of the revamped Model 3 in China by 14,000 yuan ($1,930) to 231,900 yuan ($32,000), its official website showed on Sunday. In Germany, the automaker trimmed the price of its Model 3 rear wheel drive to 40,990 euros ($43,670.75) from 42,990 … [Read more...]
The EV bust in Europe is a red flag for region's climate goals
Europe’s plunging electric-vehicle sales are painful proof the market is not ready to stand on its own, putting governments on notice for more support until affordable EVs become a reality. The glut is clogging up ports and factories are cutting production — a red flag for the region’s climate goals and risk of job cuts after Tesla’s mass layoffs this week. Without subsidies, the cost of EV … [Read more...]
Chinese, Western brands will compete for the spotlight at the Beijing show
VW, Audi, Porsche, BMW and Mercedes will compete for the spotlight with BYD and other Chinese brands at the 10-day Beijing auto show, Source: autonews.com … [Read more...]
VW workers in Tennessee vote to unionize, giving UAW first win in the U.S. South
Workers at Volkswagen's Chattanooga plant in Tennessee voted overwhelmingly to join the UAW, a potentially industry-altering move that represents a breakthrough in the union's long-running crusade to organize transplant automakers in the southern U.S. The UAW claimed victory with 2,628 votes in favor and 985 opposed, according to the National Labor Relations Board, which must still certify the … [Read more...]
Key takeaways from Europe's March sales
BMW and Renault were hot, Audi and Tesla were not while Chinese brands gained market share. Those were some of the key takeaways from the March sales results in Europe. Source: autonews.com … [Read more...]
BMW rises, VW falls and Tesla gets downgraded
The German automakers' positions in key European segments were impacted by ANE's decision to give the Tesla Model Y and Model 3 volume-model designations. Source: autonews.com … [Read more...]
Tesla Model Y races toward first sales win of the year
The Tesla Model Y is likely to be Europe's best-seller for the first time this year, despite a 42 percent decline in sales compared with March 2023. The full-electric midsize SUV leads the Volkswagen Golf 26,122 to 25,423, according to Dataforce's preliminary data representing 96 percent of sales in the European Union, the EFTA countries and the U.K. The Model Y was Europe's overall top-seller in … [Read more...]
Chery's Spanish plant to be among main export facilities worldwide
Chery aims to build 150,000 vehicles a year by 2029 in a former Nissan factory in Barcelona. Source: autonews.com … [Read more...]
Tesla recalling nearly 3,900 Cybertrucks in U.S. for faulty accelerator pedals
A dislodged pedal could cut torque on both the accelerator and brake pedals, increasing the risk of a crash, the U.S.'s National Highway Traffic Safety Administration said in its recall report. Source: autonews.com … [Read more...]
Smart to show midsize #5 concept at Beijing show
The midsize #5 will be Smart's biggest model. It will be launched in Europe in 2025. Source: autonews.com … [Read more...]
Struggling Nissan cuts profit and sales outlook on sliding volume, over-optimistic plans
TOKYO – Nissan, struggling with sluggish sales and slow business in China, slashed its full-year earnings outlook on Friday, saying profit, sales and revenue would all miss its earlier targets. CEO Makoto Uchida, who just unveiled a new mid-term plan focused on shoring up profitability, said the slipping volume and “cost relief” for suppliers undermined Nissan’s business trajectory. “Were we … [Read more...]
2024 Paris auto show to highlight European brands
BMW and Kia’s presence at the show after skipping the 2022 event points to European automakers' concerns about the growing presence of Chinese brands in Europe. Source: autonews.com … [Read more...]
Stellantis, Yanfeng battle in court over cyberattack
A cyberattack against automotive supplier Yanfeng last year cost Stellantis more than $26 million in damages and shut down production of Ram and Jeep vehicles at three assembly plants in metro Detroit and one in Mexico, according to a lawsuit. After the automaker charged the damage to Yanfeng’s account, the Chinese supplier of instrument panels, door panels and center consoles protested and … [Read more...]
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