Summary

• Q1 operating profit down 22% at 595 million euros
• Middle East impact not factored into guidance
• Tariff costs mount, China competition fierce

BERLIN, (Reuters) – German sports car maker ‌Porsche saw its profit erode further in the first quarter of 2026 as it doubles down on cost-cutting to deal with mounting challenges from tariffs, geopolitical turmoil and gaps in its model lineup.

Porsche was ​hit by another 200-million-euro ($234 million) U.S. tariff charge in the first quarter, while ​Chinese consumers continued to turn away from the German brand in favour ⁠of cheaper local alternatives. Continue reading “Porsche adds Middle East to list of problems as first-quarter profit falls”

Summary

• Cost-cutting cushions profit drop
• Volvo resists price cuts despite rivals’ discounts, aims to protect margins
• Underestimated impact of US subsidy halt on plug-ins

STOCKHOLM, (Reuters) – Volvo Cars ​said on Wednesday that it had underestimated the impact of scrapped U.S. EV subsidies, ‌but cost savings had helped contain a drop in first-quarter earnings squeezed by price pressure and tariffs.

Like other European carmakers, Volvo Cars has endured a year of rising tariffs, adverse currency moves and geopolitical shifts, leaving its shares languishing ​near record lows. Continue reading “Volvo Cars aims to retain premium pricing as US tariffs pile on pressure”

WASHINGTON, (Reuters) – Two U.S. senators on Wednesday ​introduced legislation to ‌toughen a U.S. government ban on Chinese automakers ​from entering the ​American market, weeks before ⁠President Donald Trump ​heads to China for ​talks.

Republican Senator Bernie Moreno of Ohio and Democratic ​Senator Elissa Slotkin ​of Michigan proposed legislation to ‌codify ⁠a regulation imposed by the Biden administration that effectively bans ​all Chinese ​automakers ⁠from selling passenger vehicles in ​the U.S. and ​take ⁠other steps to prevent China from entering ⁠the ​U.S. light ​duty market. Continue reading “Senators propose legislation to tighten US ban on Chinese vehicles”

DETROIT, (Reuters) – General Motors is investing about $1.4 billion in three U.S. factories ​and one Canadian plant that produce gas ‌engines, transmissions and metal castings, the automaker said on Wednesday, bolstering its ability to make combustion-engine ​cars as demand for electric vehicles wanes.

The ​investments also come as President Donald Trump’s ⁠administration continues to pressure companies to ​invest more in the United States. GM noted ​it has invested $6 billion in the past year on factories in the U.S. Continue reading “GM earmarks over $1 billion toward gas-engine output in US, Canada”

(Reuters) – Tesla said on Wednesday its first Semi truck has begun rolling ​off a high-volume production line as the ‌electric vehicle maker remains on track to launch large-scale manufacturing of several new products in 2026.

Here are the details: Continue reading “First Tesla Semi rolls off high volume production line”

Summary

• Ford expects to receive $1.3 billion tariff refund after Supreme Court ruling
• Automaker raises annual EBIT guidance by $500 million
• Company recorded net profit of $2.5 billion for the quarter

DETROIT, (Reuters) – Ford Motor lifted its annual guidance on Wednesday ​by $500 million, aided by significant tariff refunds, but said it still faces rising materials costs as it ‌works to source aluminum for its lucrative F-150 pickup trucks.

A U.S. Supreme Court ruling in February that struck down some of the Trump administration’s tariffs provided $1.3 billion in relief to Ford. The company booked a paper gain on that expected refund in the first quarter, bolstering its bottom line, while ​acknowledging uncertainty around how quickly it will be reimbursed by the government. Continue reading “Ford raises profit outlook for 2026 despite nagging aluminum supply costs”

(Reuters) – The U.S. National Highway ​Traffic Safety Administration (NHTSA) has upgraded its probe ‌into Jaguar Land Rover vehicles to an engineering analysis, the agency said on Tuesday, following reports that ​the front aluminum steering knuckles could fracture.

The ​auto safety regulator said the investigation covers ⁠331,559 vehicles, and includes Range Rover and ​Range Rover Sport models from the 2014 ​to 2022 model years. Continue reading “US agency upgrades probe into JLR vehicles’ steering troubles”

WASHINGTON, (Reuters) – More than 70 Democrats in the U.S. House of Representatives urged President Donald Trump on Tuesday not to permit Chinese ​automakers to build or sell cars in the United States.

The lawmakers, led ‌by Representative Debbie Dingell and Ro Khanna, urged Trump to keep a ban in place that has the strong backing of U.S. and foreign carmakers and other auto groups. Continue reading “House Democrats urge Trump to keep US ban on Chinese cars”

NAGOYA, Japan, (Reuters) – Japanese parts suppliers to automakers including Toyota face mounting cost and supply uncertainties due to the Iran war, warning that oil-related product price rises could dent profits.

Shortages of ​hard-to-substitute materials such as naphtha-derived products and aluminium could have an outsized impact ‌on production, suppliers said, potentially rippling through manufacturing far beyond their cost base. Continue reading “Toyota suppliers feeling profit pressure from Iran war”

A look at the day ahead in European and global markets from Gregor Stuart Hunter

It’s Fed Day, and it looks increasingly certain that it will be Jerome Powell’s curtain call as chair. By the ​time the Federal Open Market Committee wraps up, the Senate is expected to be ‌voting on Kevin Warsh’s confirmation, setting the stage for one of the most consequential periods at the world’s most powerful central bank. Continue reading “Morning Bid: Fed sails into unchartered waters as Powell bows out”

Summary

• Pretax profit sinks 17% in Q1 but beats expectations
• China sales slump deepens as EV rivals gain ground
• Cost cuts continue with car margins near lows

BERLIN, (Reuters) – Mercedes-Benz reported ‌a sharp 17% drop in operating profit in the first quarter, but the premium carmaker said new model launches and cost controls should lift momentum even as competition and tariffs squeeze margins, especially ​in China.

Tariffs, fierce China competition and a rocky EV transition have impacted ​German carmakers like Mercedes, spurring CEO Ola Kaellenius to cut costs and ⁠jobs while accelerating new model launches. Continue reading “Mercedes profit slumps in early 2026 but new-model push aims to revive margins”

Source : PTI | The Delhi Traffic Police penalised over 11,800 motorists during a special three-hour enforcement drive conducted across the city, targeting improper parking and wrong-side driving, officials said.

The intensive drive was carried out on Saturday across all traffic ranges and districts as part of efforts to curb congestion and enhance road safety, they said.

Continue reading “Delhi Police books over 11,000 for traffic violation in 3-hour drive”

Source : PTI | Thousands of motorists thronged fuel retail outlets in Andhra Pradesh on Monday, fearing a shortage, even as the government assured that there would be “no shortage of petrol and diesel”.

Several two-wheelers, cars, trucks and other vehicles were seen lined up at a petrol pump in Rajahmundry. People were also seen carrying plastic containers to buy petrol and diesel. Continue reading “Thousands of motorists throng fuel outlets fearing petrol, diesel shortage in Andhra”

(Reuters) – Foreign automakers have warned the Trump administration that they could pull ​their cheapest car models from the U.S. market if ‌the U.S.-Mexico-Canada Agreement (USMCA) is not renewed or is watered down, the Wall Street Journal reported on Monday.

Trump’s economic advisers have been told that some foreign automakers ​might not be able to build and sell cheaper cars ​for the U.S. market if the USMCA no longer ⁠exists or a renewed version does not significantly reduce ​tariffs on cars and auto parts made in North America, the ​report said, citing people familiar with the discussions. Continue reading “Foreign automakers threaten to pull cheapest models from US without trade deal, WSJ reports”

SEOUL, (Reuters) – South Korea’s Kia Corp has reduced price gaps with Chinese rivals in Europe this year, its CEO said, signalling a price war as Chinese carmakers ramp up their push into a key overseas market amid slowing growth at home.

The ​strategy helped Kia, which together with Hyundai Motor is ranked third in global vehicle sales, increase its ‌global revenue and buck a broader market decline, Kia CEO Song Ho-sung said at the company’s Investor Day event held earlier this month. Continue reading “Kia CEO signals price cuts in Europe to fend off Chinese competition”

Summary

• Musk seeks $150 billion damages for OpenAI’s charitable arm
• OpenAI claims Musk is motivated by jealousy
• Trial could affect IPO plans and public perception of AI
• Verdict possible by mid-May

OAKLAND, California, (Reuters) – A trial that could help shape the future of artificial intelligence begins on Tuesday, with billionaires Elon ​Musk and Sam Altman at odds over the evolution of ChatGPT maker OpenAI from a nonprofit to a profit-seeking juggernaut worth ‌hundreds of billions of dollars.

Opening statements in Musk’s civil lawsuit against OpenAI and Altman will take place in the Oakland, California, federal court, following the selection on Monday of nine jurors. Continue reading “OpenAI trial pitting Elon Musk against Sam Altman kicks off”

Summary

• GM lifts 2026 profit outlook by $500 million, sees tariff refund
• Q1 aided by strong truck sales, easing US environmental rules
• GM faces higher raw-material and logistics costs

(Reuters) – General Motors posted on Tuesday a 22% rise in first-quarter core profit and lifted its ‌full-year earnings forecast, bolstered by a resilient U.S. car market and an expected tariff refund.

The Detroit automaker reported earnings before interest and taxes of $4.3 billion, or $3.70 per share, which beat analysts’ estimate of $2.62, according to LSEG data. Shares rose about 5% in premarket trading. Continue reading “GM lifts profit outlook as US truck sales boost first quarter”

Summary

• China’s Chery is seeking expansion in Europe and elsewhere
• Chairman says shakeout in China’s auto industry is imminent
• Chery takes inspiration from Toyota and Tesla

WUHU, China, (Reuters) – Chery, China’s largest car exporter, is taking inspiration from two very different automakers – Toyota and Tesla – as it pursues expansion in Europe and beyond, its ​top executive told Reuters.

Chery is considering adding production capacity in Barcelona, Spain, where it has a joint venture. It is also ‌looking for more opportunities to share production facilities with European car companies, Chairman Yin Tongyue said in an interview on Monday. Continue reading “China’s Chery seeks to be ‘Toyota plus Tesla’ as it targets global expansion”

BEIJING, (Reuters) – Call it a different kind of sticker shock.

The Beijing Auto Show that opened to the public this week is a showcase for how hypercompetition in China has driven new car prices in the world’s largest car market to ​a fraction of the level of the next-largest market, the U.S. Continue reading “For the average price of a car in the US, you could buy 5 new Chinese EVs”

Summary

• YouTuber guides visitors round Beijing Auto Show
• Vehicles offer low prices and advanced technology
• largely American group reacts with mix of fascination and frustration

BEIJING, (Reuters) – An American YouTuber is giving foreign visitors a first-hand look at the Chinese ​high-tech cars many U.S. consumers can only see online.

At the Beijing Auto Show, which opened on Friday, 34-year-old Ethan Robertson ‌shepherded more than a dozen people from Australia, New Zealand, the United Arab Emirates and elsewhere through sprawling halls packed with electric SUVs, pickup trucks and futuristic concept cars — offering an up-close look at the vehicles making China’s auto industry increasingly hard to ignore. Continue reading “American YouTuber guides foreigners around Chinese cars U.S. buyers can’t get”

Source : PTI | In a bold leap toward a cleaner tomorrow, PURPLE BUS proudly announces the launch of Maharashtra’s first electric intercity bus service by a private operator, now operating on the high-demand Pune – Mumbai – Pune shuttle route-redefining how the state travels: Silently, Sustainably, and Smartly.

The newly launched fleet comprises 14 State-Of-The-Art Electric Buses, manufactured by Switch Mobility and owned and operated by PURPLE BUS. This milestone marks a decisive shift toward electric mobility, aligning with India’s broader vision of reducing emissions and building future-ready transportation ecosystems. Continue reading “PURPLE BUS drives Maharashtra’s first private EV revolution”

Summary

• Jeep, Ram, Peugeot, Fiat will be group’s core brands
• Stellantis has 14-brand portfolio, industry’s largest
• CEO Filosa does not plan to close other brands
• Remaining brands to retain local relevance
• Group’s new business plan due on May 21

MILAN, (Reuters) – Stellantis will focus the majority of its investment on its core Jeep, Ram, Peugeot and Fiat brands under CEO Antonio Filosa’s strategic plan due to ​be announced in May, five sources said, with a “material increase” to their funding.

The world’s fourth-largest automaker by sales is set to outline its long-term strategy, which will concentrate on ‌its most popular and profitable international brands, in Detroit. Continue reading “Exclusive: Stellantis to focus funding on core car brands as CEO drives turnaround, sources say”

BEIJING, (Reuters) – NIO is betting that in-house chip development will sharpen its technological edge ​and improve profitability, Chief Executive William ‌Li said on Friday, as the Chinese premium EV brand pushes to reduce reliance on suppliers such ​as Nvidia.

Li said NIO developed its ​own silicon so its chips could better ⁠match the company’s algorithms and sensor ​layout, particularly for AI functions such as advanced ​driver-assistance. Continue reading “Chinese EV maker NIO bets on in-house chips to cut reliance on Nvidia”

Summary

• Large-scale of Eva Cab delivery, deployment expected from 2028
• Geely’s purpose‑built robotaxi would be cost-effective, CEO says
• Only 3-4 robotaxi firms would survive in China by 2030

BEIJING, (Reuters) – Caocao Inc ​the ride-hailing arm of Chinese automaker Geely Holding Group (GEELY.UL), plans to deploy thousands of robotaxis ‌globally next year, its CEO said on Friday, setting up a potential rivalry with Tesla’s Cybercab.

Large-scale delivery and deployment of the Geely-made purpose-built robotaxi Eva Cab is expected in 2028 before the fleet expands to 100,000 by 2030, Caocao ​CEO Gong Xin told Reuters during the Beijing auto show. Continue reading “Geely’s Caocao to deploy thousands of fully customised robotaxis in 2027”

Summary

• China wants next-generation EVs to be self-reasoning machines
• China seeks to break its dependence on high-end chips
• Distinctions between car companies and tech firms blurred

BEIJING, (Reuters) – It took China 25 years to dominate the market for electric vehicles.

Now, the country’s auto industry is hurtling toward the next disruption: Embedding ​artificial intelligence in cars that will make the next generation of EVs not just network-connected, but self-reasoning machines running on Chinese chips and software. Continue reading “After call from Beijing, China’s auto industry races to embed AI in just about everything”

Summary

• Porsche to sell Bugatti, Rimac stakes to US fund-led consortium
• German automaker under pressure to cut costs
• Consortium includes firm co-founded by Sawaris family scion

DUBAI/FRANKFURT (Reuters) – Porsche will ​sell its stakes in sports car makers Bugatti and Rimac to a consortium led by ‌a U.S. fund linked to Egypt’s billionaire Sawiris family, the companies said on Friday, as Porsche’s new CEO focuses on reviving its struggling core brand. Continue reading “Porsche to sell stake in sports car maker Bugatti”

Source : PTI | New Delhi: German luxury carmaker Mercedes-Benz expects its EV sales in India to accelerate, with more products slated to enter the market over the next 18-20 months, a senior company official said on Friday.

Mercedes-Benz India, which launched its new CLA BEV at an introductory price starting at Rs 55 lakh, will now have an electric car to offer in the entry segment of the brand in the country, marking the first of the many products to follow going forward, its Managing Director & CEO Santosh Iyer told PTI. Continue reading “EV sales to accelerate with more products slated to come in 18-20 months: Mercedes-Benz India chief”

Source : PTI | Hyderabad, The indefinite strike by the employees of Telangana State RTC entered its second day on Thursday, forcing passengers to rely on private transport.

The employees held protests at several places in support of their charter of 32 demands, including the merger of RTC with the government. Continue reading “Strike by Telangana RTC employees enters second day, passengers face difficulties”

MILAN, (Reuters) – Sales and deliveries by Italian luxury sports carmaker Lamborghini in the Middle East are at a standstill as conflict in the ​region forces dealership closures and blocks shipments, its CEO said ‌on Thursday.

“Activities are stopped. We cannot send the cars. Dealerships are either closed or just nobody goes there,” CEO Stephan Winkelmann said, adding the carmaker risks ​losing most of the Gulf selling season. Continue reading “Lamborghini deliveries and sales in Middle East at standstill, CEO says”

BEIJING, (Reuters) – Mercedes-Benz will use this year’s Beijing auto show to pitch how it plans to navigate China’s fiercely competitive car market, where ​Chief Executive Ola Kaellenius says the German carmaker is facing intense ‌pressure but will not be dragged into a price war.

Faced with cut-throat competition from cheaper, fast-moving local brands, Mercedes and other legacy carmakers such as rival BMW ​are seeking to reassert their appeal in the world’s largest car ​market amid falling sales. Continue reading “Mercedes steels itself for ‘roller coaster’ competition in Chinese market”