WASHINGTON, (Reuters) – Two groups representing auto dealers said on Friday they had filed a legal challenge to the Federal Trade Commission’s new sweeping consumer protection regulations finalized last month.

The FTC said the new rules will ban bait-and-switch advertising tactics, prohibit charging for add-on costs that do not benefit consumers and require dealers to make key disclosures to consumers, including accurate pricing disclosures in advertising and sales communications. Continue reading “Auto dealers challenge new US FTC car-buyer consumer protection rules”

 The United Auto Workers (UAW) union has reached agreement with auto parts maker Allison Transmission Holdings Inc (ALSN.N) on a tentative deal covering 1,500 workers in Indianapolis, the labor group said on Friday.

The four-year contract guarantees a starting wage of $20 an hour for UAW employees and retroactive pay hikes until Nov. 15 last year, and two categories of bonus that amount to $7,000, the union said. Continue reading “UAW strikes tentative deal with auto parts maker Allison Transmission”

HANOI, (Reuters) – Vietnamese electric vehicle (EV) maker VinFast on Saturday named its founder and biggest financial backer, Pham Nhat Vuong, as chief executive as it plans an ambitious overseas expansion and ramps up sales via dealerships.

Vuong, 55, replaces Le Thi Thu Thuy, who had held the post since late 2021, VinFast said in a statement. Thuy, a finance expert, will serve as chairwoman and lead engagement with external stakeholders. Continue reading “Vietnam EV maker VinFast names founder as CEO, replaces CFO”

(Reuters) – General Motors’ (GM.N) Cruise robotaxi unit offered on Friday to pay $75,000 to resolve an investigation by California regulators into its failure to disclose details of a pedestrian crash involving a self-driving car.

In December, the California Public Utilities Commission ordered Cruise to appear at a Feb. 6 hearing, citing it for misleading the commission “through omission” on the extent and seriousness of the accident and for “misleading public comments” on interactions with the agency. Continue reading “GM robotaxi unit Cruise offers $75,000 to resolve crash probe”

TOKYO, Jan 7 (Reuters) – Toyota Motor (7203.T) said it would restart its Japanese vehicle plants on Monday but, given the impact of the New Year’s Day earthquake, would decide separately about operations from Jan. 15.

As aftershocks are continuing from the magnitude 7.6 quake that ravaged Japan’s western coast and many of its suppliers and their affiliates are in affected areas, Toyota said in a press release on Sunday it would use parts in stock outside those areas. Continue reading “Toyota Motor: to restart vehicle plants in Japan from Monday”

Source : PTI | Electric Vehicle (EV) sales in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 35 per cent with annual volumes likely to touch 27.2 million units by 2032, a report said on Friday. The report, ‘India Electric Vehicle Market Overview 2023’, by energy advisory, software and services firm, Customized Energy Solutions, also predicts a record-breaking sale of 1.7 million units in 2023.

EV sale in India is projected to touch about 27.2 million units by 2032 and with a CAGR of 35 per cent from 2023-2032 under business-as-usual conditions, according to the report. Continue reading “EV sales in India likely to grow at CAGR of 35%; annual volumes may cross 27 million by 2032, says report”

WASHINGTON, (Reuters) – The U.S. environmental regulatory agency will hold a hearing next week on whether to approve California’s plan to require all new vehicles sold in the state by 2035 to be electric or plug-in electric hybrids.

The California Air Resources Board (CARB) in August 2022 approved the landmark plan to end the sale of gasoline-only vehicles in the state by 2035.

In May, CARB asked the U.S. Environmental Protection Agency (EPA) to approve a waiver under the Clean Air Act allowing the plan to proceed. EPA is holding a Jan. 10 public hearing and will take written comments through Feb. 27 on California’s request. Continue reading “US EPA reviewing California 2035 electric vehicle sales mandate plan”

(Reuters) – Chrysler-parent Stellantis (STLAM.MI) said on Friday it will not advertise in next month’s NFL Super Bowl, citing the challenging U.S. automotive market.

In November, General Motors (GM.N) said it would not advertise during the heavily watched National Football League championship game as it cuts marketing costs. Stellantis said earlier this week it had opted not to take part in upcoming auto shows in Chicago and Washington. Continue reading “Chrysler-parent Stellantis will not advertise in 2024 Super Bowl”

Summary

• Tesla sells far more cars per store than rival BYD-CMBI data
• US EV maker, BYD both grew market share in China in Jan-Oct 2023
• Tesla faces challenges in matching BYD’s overall growth-analyst

SHANGHAI,  (Reuters) – Tesla’s strategy in China of real-time, aggressive management of its sales staff is giving its stores an edge over dealerships offering BYD and other brands in the world’s largest auto market, according to three people with knowledge of the matter. Continue reading “Tesla trumps BYD in China sales efficiency with real-time strategy”

(Reuters) – General Motors (GM.N) edged out rival Toyota Motor (7203.T) to remain the top-selling automaker in the U.S. in 2023 as easing supply snags and sustained demand drove the industry to its best year since the pandemic.

The Detroit automaker shrugged off a hit from a costly auto strike to report U.S. new vehicle sales of about 2.6 million units for 2023, up 14.1% from 2022, while Toyota’s annual sales rose 6.6% to about 2.25 million vehicles. Continue reading “GM leads US auto sales as industry concludes best year since pandemic”

(Reuters) – Electric vehicle company Fisker (FSR.N) said on Thursday that it would add dealerships alongside its direct-to-customer distribution model to expand its sales and delivery network.

The California-based company, which sells its vehicles across the United States and Canada apart from other markets in Europe, has only two showrooms or Fisker Lounges in North America – one in Los Angeles and the other in New York. In other locations, it has retail stores called Fisker Center+. Continue reading “Fisker leans on dealerships to boost EV sales”

(Reuters) – Ford Motor (F.N) on Thursday posted its best annual auto sales in the United States since 2020, fueled by sustained demand for the automaker’s crossover SUVs and pickup trucks, a day after many of its peers reported double-digit gains in new vehicle sales.

The Detroit automaker said vehicle sales rose 7.1% to 1.99 million units in 2023. In 2020, Ford posted new vehicle sales of a little over 2 million units. Continue reading “Ford posts highest US auto sales since 2020”

(Reuters) – A U.S. anti-discrimination agency has asked a federal judge to reject Tesla Inc’s (TSLA.O) bid to pause a lawsuit alleging widespread racial bias at the electric carmaker’s flagship Fremont, California, assembly plant.

The Equal Employment Opportunity Commission (EEOC) in a filing in federal court in San Francisco late on Wednesday said its September lawsuit is not duplicative of two other pending racial discrimination cases against Tesla, as the company had argued in an attempt to pause the case last month. Continue reading “US agency suing Tesla for race bias says no need to pause lawsuit”

SAN FRANCISCO,(Reuters) – OpenAI boss Sam Altman will not appear at the CES trade show in Las Vegas next week. But the generative artificial-intelligence fever his startup set off last year will be on full display as gadget makers race to find consumer uses for the technology.

In devices for the visually impaired, and safety systems involving guns at schools, to facial-recognition software that can assess vitals, and cabin-monitoring systems inside autonomous cars, dozens of companies have planned announcements for the show about how they are building AI into their gadgets. Continue reading “AI to dominate this year’s CES, even without OpenAI’s Altman on hand”

WASHINGTON,(Reuters) – A group of 33 senators on Thursday urged Tesla (TSLA.O) and 12 other automakers to remain neutral in ongoing efforts by the United Auto Workers (UAW) to organize U.S. auto plants.

The letter, signed by Democrats Gary Peters, Ron Wyden, Dick Durbin, Patty Murray, Alex Padilla, Sherrod Brown Debbie Stabenow and others, went to Tesla CEO Elon Musk and top executives at Toyota Motor (7203.T), Volkswagen (VOWG_p.DE), Hyundai (005380.KS), Rivian (RIVN.O), Mercedes-Benz (MBGn.DE), Honda (7267.T), Nissan (7201.T), BMW (BMWG.DE) and others, urging them to pledge not to interfere in any organizing activities. Continue reading “US senators urge Tesla, other automakers to stay neutral in union organizing”

WASHINGTON, (Reuters) – Donald Trump met with the head of the Teamsters on Wednesday and made plans to meet with rank-and-file members later this month as he seeks the 2024 Republican presidential nomination, the former president and the union said in statements.

Sean O’Brien, president of the International Brotherhood of Teamsters, and Trump had “an in-depth and productive discussion on worker issues most important to the Teamsters Union,” the labor group, which represents 1.3 million workers from truckers and police to nurses and film crews, said in a post on the X social media platform. Continue reading “Trump meets Teamsters chief as union weighs presidential race”

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Power Network with Top Leaders at WAF WAF Continue reading “WAF Auto News | The Auto World This Week (05th January 2024)”

(Reuters) – Tesla (TSLA.O) CEO Elon Musk cannot be forced to testify in a wrongful death lawsuit stemming from a high-speed crash of one of the electric vehicle maker’s sedans, a Florida state appeals court ruled on Wednesday, reversing a lower court judge.

A unanimous three-judge panel of the 4th District Court of Appeal in West Palm Beach said Musk as a corporate leader could be shielded from a deposition.

Lawyers for the plaintiff, a teenage passenger killed in a 2018 crash in a Tesla Model S that also killed the driver, wanted to take Musk’s testimony as part of the lawsuit. Musk had called the driver’s father after the accident. Continue reading “Elon Musk defeats bid to be questioned in Tesla fatal crash lawsuit”

WASHINGTON,(Reuters) – General Motors (GM.N) said on Wednesday it is offering incentives of $7,500 on its electric vehicles that earlier this week lost a U.S. government tax credit, while Ford Motor (F.N) said it is hiking the prices of some of its F-150 EVs by $10,000.

The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the U.S. EV supply chain away from China. The guidelines took effect on Monday. Continue reading “GM offers $7,500 incentive for EVs losing US tax credit”

(Reuters) – General Motors (GM.N) edged out rival Toyota Motor (7203.T) to remain the top-selling automaker in the U.S. in 2023 as easing supply snags and sustained demand drove the industry to its best year since the pandemic.

The Detroit automaker shrugged off a hit from a costly auto strike to report U.S. new vehicle sales of about 2.6 million units for 2023, up 14.1% from 2022, while Toyota’s annual sales rose 6.6% to about 2.25 million vehicles. Continue reading “GM leads US auto sales as industry concludes best year since pandemic”

Source : PTI | Toyota Kirloskar Motor on Wednesday announced senior management changes to align with the recent regional restructuring by parent company Toyota Motor Corporation integrating India into its ‘Middle East, East Asia & Oceania Region’ operations and slotting the country to act as the hub of the new geography. As part of the changes, Tadashi Asazuma, currently Executive Vice President, has been elevated as Deputy Managing Director Sales-Service-Used Car Toyota Kirloskar Motor (TKM) and Lexus, the company said in a statement.

Similarly, Swapnesh R Maru, presently serving as Executive Vice President and Chief Compliance Officer, has been elevated as Deputy Managing Director Corporate Planning, Finance and Administration and Manufacturing, it added. Continue reading “Toyota Kirloskar Motor announces senior management rejig”

SHANGHAI, Jan 3 (Reuters) – BYD , which outsold Tesla (TSLA.O) in electric car sales globally for the first time in the fourth quarter, will hand out rewards totaling billions of yuan to its Chinese dealers, according to two dealers with knowledge of the matter.

The Chinese automaker will pay 666 yuan ($93.17) per car to the dealers if they have achieved their sales targets in 2023, the people said. The number 666 is considered an auspicious figure in China since the number sounds like the word for “cool” or “amazing”. Continue reading “China’s BYD to give dealers 2 billion yuan for hitting sales target – sources”

CHENNAI/HANOI, Jan 3 (Reuters) – Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility, where it will make batteries, in the southern state of Tamil Nadu, three people familiar with the matter said.

The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the people said, adding that this was separate from its previously announced plans to assemble vehicles shipped in parts from Vietnam. Continue reading “Vietnam’s VinFast to set up EV battery plant in India -sources”

SEOUL, Jan 3 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and affiliate Kia Corp (000270.KS) forecast on Wednesday that their combined global sales will rise about 2% in 2024, even as last year’s sales fell short of target.

The duo sold 7.3 million vehicles in 2023, about 3% less than their combined target of 7.52 million, largely due to a difficult economic environment, including rising interest rates and inflation that pushed vehicles out of the reach of some buyers. Continue reading “Hyundai Motor, Kia expect auto sales to rise 2% in 2024”

Summary

• Delivers record number of vehicles in Q4, hits 2023 target
• Tesla makes 1.85 million vehicles in 2023
• Some Tesla cars lose tax credits under new IRA guidelines

(Reuters) – (This Jan 2. story has been corrected to change the Tesla vehicle delivery figure to 484,507 in paragraph 2 and to clarify that BYD is the top EV maker by sales in paragraph 1)

Tesla (TSLA.O) delivered a record number of electric vehicles in the fourth quarter, beating market estimates and meeting its 2023 target, but lost its spot as the top EV maker by sales to China’s BYD (002594.SZ). Continue reading “Tesla delivers record Q4 cars, but China’s BYD steals top EV spot”

Jan 3 (Reuters) – U.S. new vehicle sales likely rose by a low double-digit percentage in 2023 on sustained demand for crossover SUVs and pickup trucks, but analysts fear a challenging year ahead, with high interest rates eating into demand.

Automakers ramped up their output to keep up with a surge in consumers interest in new vehicles for personal mobility after the pandemic, but demand is set to ease due to a number of factors. Continue reading “US auto sales likely jumped in 2023; new year to be challenging”

Source : PTI | About 2,000 petrol pumps, mostly in western and northern India, have run out of fuel stocks as the strike by some truckers’ associations entered the second day on Tuesday. While state-owned oil firms had topped up tanks at most petrol pumps across the country in anticipation of the truckers’ strike, some petrol pumps in Rajasthan, Madhya Pradesh, Maharashtra and Punjab ran out of stock due to heavy rush, industry officials said.

Long queues were witnessed at several pumps in these states as panic set in on stocks running out.

Continue reading “About 2,000 petrol pumps run dry as truckers strike against new penal code”

WASHINGTON, (Reuters) – Many electric vehicles lost eligibility for tax credits of up to $7,500 after new battery sourcing rules took effect on Monday, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, some Tesla Model 3s and Chevrolet Blazer EV, the U.S. Treasury said.

The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the U.S. electric vehicle supply chain away from China. They took effect on Monday. Continue reading “More EVs lose US tax credits including Tesla, Nissan, GM vehicles”

Summary

• Tesla in 2023 was top seller for third year running
• Raised market share to 20% from 12%
• No impact on Tesla sales seen from conflict with Nordic unions
• Norway aims to be first to phase out petrol, diesel car sales
• No impact on Tesla sales seen from conflict with Nordic unions

OSLO, (Reuters) – Tesla (TSLA.O) topped Norway’s car sales for a third straight year in 2023, extending its lead over rivals despite an ongoing conflict between the U.S. electric vehicle maker and the Nordic region’s powerful labour unions.

Almost five out of six new cars sold in Norway last year were powered by battery only, with Tesla’s share of the overall market rising to 20.0% from 12.2%, registration data showed on Tuesday. Continue reading “Tesla extends lead in Norway sales, EVs take 82% market share”

(Reuters) – Rivian Automotive (RIVN.O) missed market estimates for fourth-quarter deliveries as tough competition and high interest rates weighed on demand for its electric vehicles, sending the company’s shares down nearly 10% on Tuesday.

The company handed over 13,972 vehicles in the last three months of 2023, 10% lower than the previous quarter, and below estimates of 14,430, per 13 analysts polled by Visible Alpha. Continue reading “EV maker Rivian’s quarterly deliveries miss expectations, shares tank”

Summary

• Delivers record number of vehicles in Q4, hits 2023 target
• Tesla makes 1.85 million vehicles in 2023
• Some Tesla cars lose tax credits under new IRA guidelines

(Reuters) – Tesla (TSLA.O) delivered a record number of electric vehicles in the fourth quarter, beating market estimates and meeting its 2023 target, but lost its spot as the top EV maker to China’s BYD (002594.SZ). Continue reading “Tesla delivers record Q4 cars, but China’s BYD steals top EV spot”

Source : PTI | Eicher Motors has been served demand notices of over INR 130 crore from three different authorities over issues related to GST, according to a regulatory filing by the company. The company has received a demand order for an aggregate amount of INR 129.79 crore, including a penalty of INR 11.8 crore and applicable interest from the office of the Principal Commissioner of CGST and Central Excise, Chennai, Eicher Motors said in a regulatory filing.

The officer has disallowed certain GST credit and raised GST demand, largely on account of the difference in GST credit mismatch between the company’s GST availment and details reported by suppliers in their GST returns, it added. Continue reading “Eicher Motors gets INR 130 cr tax demand notices, company to challenge”

Source : PTI | New Delhi: Jindal Stainless on Thursday said it will generate over 1.9 billion units of clean electricity per year through its green energy initiatives. The initiatives have the potential to reduce carbon emissions by over 13.52 lakh tonnes per annum.

“Jindal Stainless… will generate over 1.9 billion units of clean electricity per annum through its wind-solar hybrid, floating roof-top solar plants, according to its newly released Sustainability Report,” the company said in a statement.

Continue reading “Jindal Stainless to generate over 1.9 bn units of clean energy”

(Reuters) – Faraday Future Intelligent Electric (FFIE.O) got a notice from the Nasdaq exchange on Thursday over its failure to comply with listing rules that require a minimum closing share price of $1, the electric-vehicle startup disclosed in a filing.

The firm, whose shares closed at 26 cents on Thursday, has until June 25 to regain compliance by lifting its stock price over the required level for at least 10 consecutive days. Continue reading “EV startup Faraday Future’s sinking share price prompts Nasdaq notice”

(Reuters) – Fisker (FSR.N) said on Friday its electric vehicle deliveries jumped more than four-fold during the final quarter, helping it hand over about 4,700 vehicles for the year.

The rise in quarterly sales volume was primarily driven by strong demand for the Fisker Ocean SUV, priced at about $69,000, the company said.

Fisker started making its first deliveries to U.S. customers in June. Continue reading “Fisker delivers 4,700 electric cars in 2023, shares jump”

Source : PTI | Chief Minister Sukhvinder Singh Sukhu has directed government departments not to buy diesel and petrol vehicles from January 1, 2024, according to a statement. This will promote e-vehicles and help the state achieve the goal of ‘Green and Clean Himachal’, it said.

In case a department wants to purchase a diesel or petrol vehicle it will have to seek the approval of the state cabinet, it said.

“In an initiative to achieve the goal of ‘Green and Clean Himachal’, Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024,” the statement said. Continue reading “HP govt restricts departments from buying diesel-petrol vehicles from Jan 1”

(Reuters) – China’s Li Auto Inc (2015.HK) said on Sunday it expects to launch and begin deliveries of its first fully electric car in March.

Li Auto has already started taking pre-orders in China for its MEGA multi-purpose vehicle (MPV) at an estimated price of under 600,000 yuan ($84,533.24).

The automaker said in November that the MEGA MPV would be the first model produced at its Beijing plant, which has a design capacity of 100,000 units a year. Continue reading “China’s Li Auto expects to launch first fully electric EV in March”

BENGALURU, (Reuters) – Sales of sports utility vehicles (SUVs) rose in December, while small car sales fell despite high discounts, data from Indian automakers showed on Monday.

While sales of entry-level vehicles remain slow due to inflation, automakers have benefited from the sales of premium vehicles, catering to a more well-off demographic largely unaffected by higher prices.

Maruti Suzuki (MRTI.NS) and Mahindra & Mahindra (MAHM.NS) reported domestic SUV sales growth of 24% and 39% year-on-year, respectively. Continue reading “Sales of Indian SUVs soar, smaller cars skid in December”

HONG KONG, (Reuters) – Chinese carmaker Geely Automobile Holdings Ltd (0175.HK) set its sales volume target at 1.9 million units for 2024, up 13% from its total sales last year, according to a Hong Kong stock exchange filing on Monday.

The company also said it increased its sales volume target for new energy vehicles by more than 66% compared with the total sales volume achieved in 2023, without giving a figure.

Geely, China’s second largest automaker by sales, said it sold 1,686,516 vehicles in 2023, up 18% from 2022. Continue reading “Chinese automaker Geely raises sales target for 2024 to 1.9 mln units”