TOKYO, (Reuters) – Japan’s Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out the impact of any potential U.S. tariffs.
The world’s top-selling automaker raised its profit forecast for the current year through March 2025 to 4.7 trillion yen ($30.7 billion) versus 4.3 trillion yen expected previously. Continue reading “Toyota raises profit view 9%, cites overall business strengthening”
(Reuters) – Ford said on Wednesday the president of its gasoline vehicles business, Andrew Frick, would take on the additional role of leading its money-losing electric vehicle business.
The company also said that Frick would continue to oversee Ford’s commercial vehicles unit until a new leader is named. Continue reading “Ford’s gas vehicles head to take on expanded role of leading EV unit”
PARIS, (Reuters) – French carmaker Renault will “vigorously” defend the interests of the group and its stakeholders, a spokesperson for the group said, adding that recent press information indicates that no decision had yet been made on the possible end of merger talks between Honda and Nissan.
Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion plus tie-up that would have created the world’s no. 3 automaker and raising questions about how it will drive a turnaround by itself. Continue reading “Renault to defend its interests amid reports of end of Honda-Nissan merger talks”
Summary
STOCKHOLM, (Reuters) – Volvo Cars warned on Thursday that 2025 would be a tumultuous and competitive year during which it might struggle to match its 2024 sales performance and profitability, sending its shares down 9.2%. Continue reading “Volvo Cars warns 2025 will be turbulent and competitive, sales plunge”
BEIJING, (Reuters) – Chinese electric vehicle maker BYD plans to hire 20,000 employees in Zhengzhou in the first quarter, in areas including R&D and manufacturing, government-run Henan Daily reported on Thursday.
There are around 60,000 workers at BYD’s production base in the capital city of central China’s Henan province. The Zhengzhou facility will ramp up production capacity this year according to the report. Continue reading “Chinese EV giant BYD to hire 20,000 in Zhengzhou in first quarter, local media reports”
Summary
(Reuters) – Volvo Cars will not pay Northvolt any money for its 50% stake in their Novo Energy battery venture, which it had agreed to acquire, the automaker’s quarterly report said on Thursday. Continue reading “Volvo Cars will not pay Northvolt for battery joint venture stake, it says”
Summary
TOKYO, Feb 6 (Reuters) – Nissan is open to working with new partners after merger talks with Honda foundered, two people familiar with its thinking said on Thursday, with Taiwan’s Foxconn seen as one candidate. Continue reading “Nissan open to new partners, sources say, including Foxconn”
‘So long my baby, I shall really miss you!’ whispered Suresh to himself, as he struggled to handover the keys of his gleaming white VW Vento diesel to Anil, the car exchange officer at the VW showroom at Gurgaon. Suresh’s car had turned 10 and the law of the land had made it redundant for it to be driven on NCR-Delhi roads.
‘Doc sahb, your car is actually in mint condition. It doesn’t seem like a decade old. No wonder, we have a special demand for doctors’ cars from all over the country,’ exclaimed Anil to Suresh aka Dr Suresh Chandra, the leading cardiologist of the country and a die hard fan of VW cars!
Suresh’s VW Vento actually didn’t look more than an year old!
Continue reading “What is So Special About A Volkswagen that Customers get so emotionally attached?”
Source : PTI | India’s growing economic scenario is creating job opportunities for global talent, especially in sectors like semiconductors, electric vehicles (EVs), defence and aerospace that have been witnessing 50-60% annual growth, executive search firm and talent consulting services provider Claricent Partners has said. “The rise in opportunities for global talent, especially at the C-suite level, is being observed across various sectors, with a notable surge in the consumer space. Additionally, significant movement is being seen within the industrial sector, particularly in areas such as semiconductors, EVs, defence and aerospace,” Claricent Partners Managing Partner Jyoti Bowen Nath told PTI.
She said, on an average, there has been about 50-60% year-on-year growth in job opportunities of global talent across semiconductors, EVs, defence and aerospace sectors.
Continue reading “‘India attracting global niche talents led by semiconductor, EV, defence sectors’”
New Delhi, February 5, 2025: Maruti Suzuki India Limited (MSIL), the country’s leading passenger vehicle manufacturer, today, announced the signing of a MoU (Memorandum of Understanding) with Sarva Haryana Gramin Bank (SHGB) to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Maruti Suzuki and Sarva Haryana Gramin Bank to offer customised financial solutions to the customers.
The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Mr. Bhuvan Dheer, Executive Officer, Marketing & Sales, Mr. Kamal Mahtta, Vice President, Allied Business, and Mr. Vishal Sharma, General Manager, Maruti Suzuki Finance & Driving School on behalf of Maruti Suzuki; and Mr. Sanjeev Kumar Dhupar, Chairman, Sarva Haryana Gramin Bank and other senior officials from both organizations. Continue reading “Maruti Suzuki partners with Sarva Haryana Gramin Bank for retail car financing”
Summary
NEW DELHI, (Reuters) – India has accused South Korea’s Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources. Continue reading “Exclusive: India accuses Kia of evading taxes of $155 mln in VW-like dispute”
PARIS, (Reuters) – French carmaker Renault will “vigorously” defend the interests of the group and its stakeholders, a spokesperson for the group said, adding that recent press information indicates that no decision had yet been made on the possible end of merger talks between Honda and Nissan.
Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion plus tie-up that would have created the world’s no. 3 automaker and raising questions about how it will drive a turnaround by itself. Continue reading “Renault to defend its interests amid reports of end of Honda-Nissan merger talks”
TOKYO, (Reuters) – Japan’s Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out the impact of any potential U.S. tariffs.
The world’s top-selling automaker raised its profit forecast for the current year through March 2025 to 4.7 trillion yen ($30.7 billion) versus 4.3 trillion yen expected previously. Continue reading “Toyota raises profit view 9%, cites overall business strengthening”
Summary
TOKYO, (Reuters) – Nissan looks set to step back from merger talks with rival Honda, two sources said on Wednesday, calling into question a $60 billion tie-up to create the world’s no.3 automaker and potentially leaving Nissan to drive its turnaround alone. Continue reading “Nissan set to step back from merger with Honda, sources say”
Source : PTI | New Delhi: Hero MotoCorp on Tuesday said it has received a GST demand of INR 456 crore from the Rajasthan authorities. The company has received an order from the Additional Commissioner, Central Goods and Services Tax, Alwar, Rajasthan, imposing a penalty of INR 456.06 crore under Section 74 of the Central Goods and Service Tax Act, 2017, along with an equivalent amount of GST and applicable interest thereon by disputing the tax rates on the parts and accessories supplied between July 2017 and March 2024, the two-wheeler major said in a regulatory filing.
“Based on the company’s assessment, the tax demand is not maintainable in law under both orders. Accordingly, the company shall take appropriate steps, including the filing of appeals,” it added. Continue reading “Hero MotoCorp gets INR 456 cr GST demand notice”
Summary
MILAN, (Reuters) – Ferrari is preparing the landmark launch of its first fully electric car in October, the luxury sports car maker said on Tuesday, while targeting an increase of at least 5% in revenues and core earnings this year. Continue reading “Ferrari plans electric car debut in Italy this October”
Summary
(Reuters) – Tesla posted lower sales across five European countries in January, including the United Kingdom and France, as competitors with newer models gained on the electric vehicle maker and polls show public opinion souring on CEO Elon Musk. Continue reading “Musk politics? Tesla sales slump in UK, European markets”
Source : PTI | The road transport ministry is working on a uniform toll policy to benefit national highway users, Union Minister Nitin Gadkari said on Monday. Gadkari also asserted that now India’s highway infrastructure matches that of the US.
“We are working on a uniform toll policy. It will address the problem faced by the commuters,” he told PTI in an interview, without elaborating further. Continue reading “Govt working on uniform toll policy to provide relief to commuters on National Highways: Gadkari”
(Reuters) – Self-driving technology company Waabi said on Tuesday it has partnered with truckmaker Volvo’s driverless systems unit to develop and deploy big rigs that drive themselves.
Fleets and truck manufacturers have been looking towards self-driving vehicle technologies to reduce costs and increase the time a truck can be on the road amid a driver shortage. Continue reading “Waabi ties up with Volvo to roll out self-driving trucks”
(Reuters) – Tesla’s electric-vehicle registrations in California fell about 12% last year, according to industry data, indicating mounting challenges for the automaker in the key U.S. market.
While high interest rates, tough competition and the introduction of a restyled Model 3 sedan hurt the EV maker’s sales in California, the loss of business was likely exacerbated by CEO Elon Musk’s involvement in the U.S. election. Continue reading “Tesla’s California car registrations down 12% in 2024, report shows”
Summary
WASHINGTON/BEIJING, (Reuters) – U.S. President Donald Trump said on Tuesday he is in no hurry to speak to Chinese President Xi Jinping to try to defuse a new trade war between the world’s two largest economies sparked by his sweeping 10% tariffs on all Chinese imports. Continue reading “Trump in no hurry to talk to Xi amid new tariff war”
(Reuters) – Dassault Systemes on Tuesday announced a long-term partnership with Volkswagen to accelerate the German automaker’s transition towards vehicles that rely heavily on software to control and optimise key functions.
The French software group’s 3DEXPERIENCE platform was selected by Volkswagen as its main engineering and manufacturing platform, it said. Continue reading “Dassault Systemes says Volkswagen selects its 3DEXPERIENCE platform”
Summary
(Reuters) – Donald Trump is keeping some of the world’s biggest automakers guessing whether the U.S. president will follow through on threats to slap their vehicles and supply chains with import taxes that could cause hefty vehicle-price spikes for U.S. consumers. Continue reading “Trump tariff drama carries high stakes for US automakers, car buyers”
Summary
TOKYO, (Reuters) – One of the biggest casualties of Donald Trump’s potential tariffs on Mexico and Canada is likely to be the Japanese automaker that can least afford the pain: Nissan.
While it’s unclear whether the U.S. President will follow through with his promised 25% levies after agreeing to a 30-day pause on Monday, the blowback would be profound for Japan’s No.3 carmaker, which is struggling to turn itself around and is in talks to merge with Honda. Continue reading “Trump tariffs will only add to the pain for hard-hit Nissan”
Summary
NEW DELHI, (Reuters) – Volkswagen has sued Indian authorities to quash an “impossibly enormous” tax demand of $1.4 billion, arguing the ask is contradictory to New Delhi’s import taxation rules for car parts and will hamper the company’s business plans, court papers show. Continue reading “Exclusive: Volkswagen sues India to quash ‘enormous’ $1.4 billion tax demand, legal filing shows”
(Reuters) – Shares in some of the biggest European carmakers plunged on Monday after U.S. President Donald Trump imposed 25% tariffs on goods from Mexico and Canada and 10% on imports from China, raising concern over possible duties on EU imports.
Stellantis and Volkswagen, which have major operations in Mexico and are particularly vulnerable to tariffs, were down 6.8% and 5.6% respectively. Continue reading “European carmaker shares fall after Trump imposes tariffs”
Summary
MILAN, (Reuters) – Stellantis announced management changes on Monday as part of a shake-up at the world’s fourth-largest automaker launched after the shock exit CEO Carlos Tavares in December. Continue reading “Stellantis shakes up management, structure, as CEO search continues”
Summary
(Reuters) – Automakers and alcoholic beverage companies pared early session losses on Monday after U.S. President Donald Trump paused new tariffs on Mexico for one month. Continue reading “Car makers, brewers pare losses as Trump pauses tariffs on Mexico”
Summary
(Reuters) – Shares of Japanese and South Korean car makers and their suppliers led declines in Asia on Monday, as exporters across the region were walloped by U.S. President Donald Trump’s introduction of sweeping tariffs on Mexico, Canada and China. Continue reading “Asia automakers lead the decline as region takes a beating from Trump tariffs”
Source : PTI | New Delhi: Ola Electric on Friday said it has reclaimed market leadership in the electric two-wheelers segment with 22,656 registrations recorded in January. On the back of the strong S1 portfolio and the recently expanded sales and service network to 4,000 stores across India, the company witnessed a 65 % growth month-on-month and improved its market share to 25 % this month, the Bengaluru-based firm said in a statement.
The company on Friday launched eight scooter models under the S1 brand, developed on its Gen 3 platform, priced between INR 79,999 and INR 1,69,999.
Continue reading “Ola Electric corners 25% mkt share in Jan, reclaims top spot in EV 2-wheelers”
Source : PTI | Mahindra & Mahindra Ltd on Saturday reported a 16% growth in total sales at 85,432 units in January 2025. Passenger vehicle sales grew 18% to 50,659 units against 43,068 units in the same month last year, M&M said in a statement.
The domestic sales for commercial vehicles stood at 23,917 units, it added. Continue reading “Mahindra sales up 16% at 85,432 units in January”
Source : PTI | Tata Motors on Saturday said its total vehicle dispatches declined 7% year-on-year to 80,304 units in January. The auto major dispatched 86,125 units in January 2024.
Total domestic sales declined 7% year-on-year to 78,159 units last month, as compared to 84,276 units in the year-ago period, Tata Motors said in a statement. Continue reading “Tata Motors vehicle dispatches dip 7% in January”
Source : PTI | Toyota Kirloskar Motor on Saturday said its sales increased by 19% year-on-year to 29,371 units in January. The company had dispatched 24,609 units in the same month last year.
The company sold 26,178 units in the domestic market and exported 3,193 units last month. Continue reading “Toyota sales rise 19% in January at 29,371 units”
Source : PTI | India is emerging as one of the major global export hubs for Japanese auto major Nissan, with the company beginning to ship the left-hand drive version of its compact SUV Magnite to new countries, according to a senior company official. The company, which has commenced shipping 10,000 units of the left-hand drive (LHD) Magnite across various global markets, is considering the introduction of hybrid and CNG vehicles and more models in India, in addition to its already announced lineup for the country, Nissan India Operations President Frank Torres told PTI in an interview.
He also said the global development regarding Nissan and Honda exploring a possible merger would not affect the company’s announced plans for new products, including two mid-size SUV models (one five-seater and one seven-seater) and one electric SUV, and the target of tripling its domestic and export volumes to 1 lakh each per annum by the end of FY26 in India.
Continue reading “India emerges as a global export hub, shipments expand to 65 countries: Nissan”
Source : PTI | Industry experts hailed steps for boosting clean energy like nuclear mission, incentives for critical minerals and renewable equipment in the Budget presented on Saturday by Union Finance Minister Nirmala Sitharman. Sitharaman announced a INR 20,000-crore nuclear mission and duty exemptions for crucial minerals and capital goods for electric vehicles to step up energy transition.
Rajat Verma, Founder & CEO, LOHUM said, “The 2025 budget marks a watershed moment in India’s journey toward clean energy sovereignty and circular economy leadership. The government’s strategic vision for domestic manufacturing and critical minerals recycling demonstrates remarkable foresight in securing our sustainable future.” Continue reading “Budget marks watershed moment in India’s journey toward clean energy, say experts”
Finance Minister M Nirmala Sitharaman’s eight consecutive budget:
Our economy is the fastest growing economy. The next five years presents a unique opportunity to India.
Budget focuses on growth infrastructure and middle class. Continue reading “Union Budget 2025 -26 Demystified by India’s Leading CA”
