TOKYO, (Reuters) – Japan’s Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump’s tariffs.

Japan’s second-biggest automaker expects operating income to total 500 billion yen ($3.38 billion) in the year to March 31, 2026, versus 1.21 trillion yen in the year that just ended. Continue reading “Honda sees full-year profit down 59% as US tariffs bite, postpones Canada EV plans”

(Reuters) – Volkswagen’s CFO expects the carmaker’s new product launches in China to start improving its performance in the battery-electric vehicle segment by the third quarter of 2026, he said in an interview with the Financial Times on Tuesday.

“By then, we will reengage in the market with great products, with a really good cost base,” Arno Antlitz said, speaking at the FT Future of the Car Summit in London. Continue reading “Volkswagen to ‘re-engage’ in China EV market by third quarter of 2026, CFO tells FT”

(Reuters) – India’s Tata Motors said on Tuesday it was reevaluating its annual profitability target for luxury car brand Jaguar Land Rover (JLR), joining automakers worldwide that have flagged forecast uncertainty due to U.S. tariff changes.

Imported cars have been a main focus of U.S. President Donald Trump’s global trade war. Trump last month imposed a 25% tariff on all foreign-made vehicles sold in the world’s second-largest car market. Continue reading “Tata Motors reassessing JLR’s forecast as US tariffs fan uncertainty”

(Reuters) – China has issued export permits to at least four rare earth magnet producers including suppliers to Volkswagen , the German carmaker and industry sources said, the first granted since Beijing restricted shipments last month and a sign that the critical materials will continue to flow.

Baotou Tianhe Magnetics, which makes the magnets used in electric and hybrid car motors, received a licence for Volkswagen in late April, three sources said. One of the sources added that the automaker had reached out to Beijing to help during the process. Continue reading “Exclusive: Beijing has issued first rare earth magnet export permits, Volkswagen suppliers on the list”

Summary

• Nissan to close 7 plants, reducing production sites to 10
• Espinosa highlights rising variable and fixed costs as major challenges
• Nissan anticipates 200 billion yen operating loss in first quarter, CFO says

YOKOHAMA, Japan, (Reuters) – Nissan Motor unveiled sweeping new cost cuts on Tuesday, saying it would eliminate 11,000 more jobs and close 7 plants, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around. Continue reading “Nissan cut plants and workers as new CEO Espinosa takes axe to costs”

Summary

• NHTSA probing crashes of Teslas in full self-driving mode
• Robotaxi sensors and reduced visibility cited as concerns
• NHTSA cites four crashes; in one a pedestrian was killed

WASHINGTON, (Reuters) – U.S. auto safety investigators asked Tesla to answer questions on its plans to launch a paid robotaxi service in Austin, Texas, in June, in order to assess how the electric vehicle maker’s cars with full self-driving technology will perform in poor weather. Continue reading “US agency asks Tesla to answer questions on Texas robotaxi plan”

WASHINGTON, (Reuters) – Republicans in the U.S. House of Representatives on Monday proposed killing the electric vehicle tax credit and repealing fuel efficiency rules designed to prod automakers into building more zero-emission vehicles as part of a broad-based tax reform bill.

The proposal, which is set for a House Ways and Means Committee hearing on Tuesday, would repeal a $7,500 new-vehicle tax credit and a $4,000 used-vehicle credit on Dec. 31, although it would maintain the new-vehicle credit for an additional year for automakers that have not yet sold 200,000 EVs. Continue reading “US House Republicans seek to kill EV tax credit, loan program”

RIO DE JANEIRO, (Reuters) – Chinese electric car maker BYD’s new factory in Brazil will be “fully functional” by December 2026, after its operations were delayed because of an investigation into labor abuses, Bahia state labor secretary Augusto Vasconcelos said in a video on Monday.

By the end of this year, the factory should start producing cars from semi-finished kits, he added.

“A new schedule is being established so that by December 2026 the factory will be fully functional with the expectation of generating 10,000 jobs,” said Vasconcelos in the video published to social media. Continue reading “BYD factory delayed in Brazil to be ‘fully functional’ by end-2026, says official”

Summary

• US new-vehicle prices rose 2.5% in April, Cox Automotive reports
• Tariffs on imports from Mexico and Canada impact automaker costs
• Consumer demand rises as buyers anticipate tariff-related price hikes

DETROIT, (Reuters) – U.S. new-vehicle prices surged in April, data released on Monday showed, a sign that the effects of President Donald Trump’s auto-tariff measures are rippling through the car market. Continue reading “US car prices higher in April after tariffs hit”

Source : PTI | New Delhi, Anil-Agarwal-led Vedanta has said it is exploring critical mineral assets in states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka and Chhattisgarh. Critical minerals are essential for many rapidly growing energy-efficient technologies ranging from wind turbines and electricity networks to electric vehicles. Demand for these materials is growing quickly as energy transitions gather pace.

In a statement Vedanta said “the company is building its critical minerals footprint, exploring copper, nickel, cobalt, chromium, vanadium, tungsten and Platinum Grade Elements (PGEs) across states like Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh, supported by India’s policy push for mineral security”. Continue reading “Vedanta exploring critical mineral assets in Maharashtra, Rajasthan, other states”

Source : PTI | Japanese small car major Suzuki Motor Corporation on Monday said overall passenger vehicle wholesale in the Indian market is expected to grow around 1-2 per cent in 2025-26, with the company’s arm Maruti Suzuki looking to outpace industry growth. The company which has earmarked total capital expenditures of 380 billion yen for 2025-26 said “investments in India will account for approximately 50 per cent” of it with plans to increase production capacity of passenger vehicles.

On the outlook for FY2025-26 in India, Suzuki Motor Corporation (SMC) in an investor presentation said, “Although SUVs continue to be strong in the market, demand for compact cars continues to be sluggish, and the overall market for wholesale sales is expected to grow by (around) 1 to 2 per cent.” Continue reading “Expect India PV wholesale growth at 1-2% in FY26, Maruti to outpace industry growth: Suzuki”

Source : PTI | Kia India expects 20-25 per cent volume gain in the Carens portfolio this year with the introduction of a premium version of the popular multi-purpose vehicle, according to a senior company executive. The South Korean automaker unveiled the Carens Clavis globally on Thursday. The model, which comes with premium features and three-row seat configuration, is also expected to make its way to various global markets.

In an interaction with PTI, Kia India National Head Sales and Marketing Hardeep Singh Brar said the new model targets both the MPV and SUV seven-seater segments in the domestic market.

Continue reading “Kia unveils Carens Clavis; eyes 20-25% volume gain in Carens portfolio this year”

Source : PTI | Mahindra & Mahindra (M&M) has sought approval from the Competition Commission of India to acquire majority stake in commercial vehicle maker SML Isuzu. The company had earlier announced that it would acquire 58.96 per cent stake in SML Isuzu for Rs 555 crore.

“The proposed combination relates to acquisition of shareholding by the acquirer (M&M) in the target (SML Isuzu Ltd),” a notice filed with the Competition Commission of India (CCI) said on May 5. Continue reading “Mahindra seeks CCI nod to acquire majority stake in SML Isuzu”

(Reuters) – Engine Capital said on Friday it would end its activist campaign at Lyft and withdraw its board nominees after the ride-hailing platform raised its stock buyback program to the level proposed by the investor.

It is one of the rare instances of an activist campaign ending within weeks when proxy battles typically run for months. Continue reading “Activist investor Engine Capital ends campaign at Lyft, withdraws board nominees”

(Reuters) – Railroad operator CSX said on Friday it has signed a tentative agreement for a new five-year contract with the Brotherhood of Locomotive Engineers and Trainmen (BLET).

The agreement, which still needs to be ratified by the members of the union, covers approximately 3,400 locomotive engineers represented by BLET, the railroad said. Continue reading “CSX reaches tentative 5-year deal with BLET covering 3,400 workers”

SHENZHEN, China, (Reuters) – China’s car sales in April rose for a third month, up 14.8% from a year earlier, as government-subsidised auto trade-ins mitigated the impact of U.S. tariffs on consumer sentiment.

Passenger vehicle sales totalled 1.78 million units last month and for the first four months of 2025 were up 8.2% from the same period a year earlier at 6.97 million units, data from the China Passenger Car Association (CPCA) showed on Sunday. Continue reading “Chinese passenger car sales rise for a third month in April”

TOKYO, (Reuters) – Nissan Motor said on Friday it would abandon a plan to build a $1.1 billion factory for electric vehicle batteries on Japan’s southwestern island of Kyushu, marking the latest change of plans for the troubled automaker.

Japan’s third-biggest automaker had announced in January the plan for a lithium iron phosphate (LFP) battery plant in the city of Kitakyushu that was set to create about 500 jobs with an investment of 153.3 billion yen ($1.05 billion). Continue reading “Nissan abandons plan for $1.1 billion EV battery plant in southern Japan”

Summary

• Buyback boost follows Engine Capital’s push for strategic options
• Lyft’s Q1 adjusted profit beats estimates
• Company targets smaller, car-dependent cities for growth

(Reuters) – Lyft increased its stock buyback program to $750 million and beat first-quarter profit estimates on Thursday, signaling steady demand for its ride-hailing services, sending its shares up nearly 8% in extended trading. Continue reading “Lyft boosts stock buyback program, targets smaller cities in growth push”

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Source : PTI | Mumbai/ New Delhi, (PTI) Mahindra & Mahindra Ltd, which on Monday reported a 13.34 per cent rise in consolidated profit after tax for the March quarter, announced plans to set up a new manufacturing facility primarily for passenger vehicles, which is expected to be operational by March 2028.

The company reported a 13.34 per cent rise in consolidated profit after tax to Rs 3,541.85 crore in the fourth quarter ended on March 31, 2025, led by good performance from auto and farm equipment sectors. Continue reading “Mahindra & Mahindra Profit Up 13% in Q4, New Plant Planned”

Summary

• Ford’s price hikes reflect mid-year actions and tariffs
• Trump’s tariffs cause uncertainty, softened for U.S. auto parts
• Ford’s strong U.S. base helps weather tariffs, imports face hikes

DETROIT, (Reuters) – Ford Motor has hiked prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump’s tariffs.

Prices on the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase by as much as $2,000 on some models, according to a notice sent to dealers, which was reviewed by Reuters. Continue reading “Exclusive: Ford hikes prices on Mexico-produced models, citing tariffs”

Summary

• Currency impact and tariffs weigh heavily on Toyota’s profit forecast
• Toyota faces risks from U.S. tariffs affecting exports and consumer sentiment
• Japan remains profitable for Toyota despite losses in North America

TOKYO, (Reuters) – Toyota Motor expects profit to decline by a fifth in the current financial year, it said on Thursday, as weakness in the U.S. dollar and the impact of President Donald Trump’s tariffs weigh on the world’s largest automaker. Continue reading “Toyota sees 21% full-year profit decline as tariffs take a bite”

JSW MG Motor India today launched the MG Windsor PRO, an upgraded version of its popular electric vehicle that aims to redefine business-class mobility with enhanced tech, safety, and convenience.

The new Windsor PRO comes equipped with a 52.9 kWh battery, offering a certified range of 449 km (MIDC), and delivers 136 PS power with 200 Nm torque. Alongside three new colours—Celadon Blue, Aurora Silver, and Glaze Red—the PRO version also introduces 18” dual-tone machined alloys and a refreshed two-tone Ivory-Black interior. Continue reading “JSW MG Launches Windsor PRO With Bigger Battery, Advanced Tech, Flexible Ownership”

Source : PTI | India will have 123 million electric vehicles on road by 2032 under the best case scenario, said a report by India Energy Storage Alliance and Customised Energy Solutions released on Tuesday.

In a significant move towards sustainable development and to achieve net zero emissions by 2070, there is a need to adopt electric vehicles (EVs). This can bolster India’s economy while supporting the ambitious target set for 2030-EV penetration of 30 per cent, the report said. Continue reading “India will have 123 million EVs by 2032: Report”

Summary

• US tariff impact on Toyota’s FY2025 profit forecast in focus
• FY2025 operating profit may face 800 billion yen tariff hit, says analyst
• FY2024 Q4 operating profit expected to show first y/y rise in three quarters

TOKYO, (Reuters) – Robust demand for hybrids is expected to underpin steady profits at Toyota when the world’s top automaker reports annual earnings on Thursday, although investors will be on high alert for any sign of a looming impact from U.S. tariffs. Continue reading “Toyota’s earnings buffered by demand for its hybrids, but US tariff hit looms”

Summary

• Volvo Cars to cut about 125 jobs at Charleston factory
• Move not linked to upcoming cost-cutting plan
• Carmaker still plans to create 4,000 jobs in total in South Carolina over longer term

STOCKHOLM, (Reuters) – Volvo Cars said on Wednesday it would make production changes and cut 5% of the workforce at its Charleston plant in the United States due to changing market conditions and evolving trade policies, including tariffs. Continue reading “Volvo Cars to cut 5% of jobs at South Carolina plant as tariffs bite”

Summary

• Ford’s price hikes reflect mid-year actions and tariffs
• Trump’s tariffs cause uncertainty, softened for U.S. auto parts
• Ford’s strong U.S. base helps weather tariffs, imports face hikes

DETROIT, (Reuters) – Ford Motor has hiked prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump’s tariffs. Continue reading “Exclusive: Ford hikes prices on Mexico-produced models, citing tariffs”

Summary

• Expects some tariffs to fall from H2
• In talks with various U.S. policymakers, CEO says
• Q1 auto EBIT margin at 6.9% vs 6.3% in LSEG poll
• BMW shares up 1.3%
• Warns of ‘notable’ tariff impact in Q2

FRANKFURT/LONDON, (Reuters) – BMW expects U.S. car tariffs to decline from July, based on its contacts with U.S. officials, a more upbeat assessment of the trade situation than many rivals and leading the German luxury automaker to confirm its 2025 outlook. Continue reading “BMW expects car tariffs to fall from July in upbeat take on trade war”

BEIJING, (Reuters) – Tesla’s China-made electric vehicle sales fell 6% in April from a year earlier, extending declines for a seventh month, as the U.S. automaker grapples with intense competition from its Chinese rivals and a tarnished image in Europe.

Deliveries of China-made Model 3 and Model Y vehicles, which account for exports to markets including Europe as well as China sales, totalled 58,459 units last month, down 25.8% from March, data from the China Passenger Car Association (CPCA) showed on Wednesday. Continue reading “Tesla’s China-made EV sales fall 6% y/y in April as woes deepen”

PARIS, (Reuters) – Renault’s limited-edition, electric remake of its iconic 1980 R5 Turbo petrol-engine hatchback, originally designed to compete in rally sports, drew 850 orders in its first week despite a 155,000 euro ($176,000) starting price, the carmaker said.

Renault plans to sell only 1,980 units of the 555-horsepower Renault 5 Turbo 3E electric vehicle, which boasts the body-built rear wings of its combustion-engine ancestor and can accelerate to 100 km (62 miles) per hour in 3.5 seconds. Continue reading “Renault’s turbo hatchback EV racks up orders despite $176,000 price tag”

(Reuters) – Italian luxury sports carmaker Lamborghini reported on Tuesday a 29.6% jump in revenue to 895.2 million euros, driven by strong global demand for its new hybrid models, the Revuelto and Urus SE, despite the complex global scenario.

Lamborghini, part of Germany’s Volkswagen group, also made an operating profit (EBIT) of 248.1 million euros, up 32.8% from the same period in 2024. Continue reading “Lamborghini quarterly revenue up 29.6% as hybrid models boost deliveries”

Summary

• Tesla’s April car sales drop 62% in Britain, 46% in Germany
• EV market share for Tesla in Britain falls to 9.3%
• Revamped Model Y deliveries expected to start in June

(Reuters) – Tesla’s new car sales in Britain and Germany plummeted to their lowest in over two years in April, falling 62% and 46% year-on-year respectively, even as demand for electric vehicles rose in both countries, national data showed on Tuesday. Continue reading “Tesla’s UK, Germany new car sales at two-year low in April even as EV demand rises”

(Reuters) – Uber said on Tuesday it was partnering with Pony AI (PONY.O) to deploy the China-based robotaxi developer’s vehicles onto its ride-hailing platform, marking the latest in a series of tie-ups aimed at strengthening its presence in the fledgling robotaxi sector.

The partnership will launch in a key market in the Middle East later this year and will roll out to more international markets in the future. Continue reading “Uber partners with China’s Pony AI to deploy self-driving taxis in key Middle East market”

Summary

• Deliveries of Ferrari’s first EV to start in October 2026
• Sees 2025 core earnings of at least 2.68 bln euros
• U.S. tariffs could hit 2025 margins by 50 basis points
• First-quarter core earnings rose 15% to 693 million euros

MILAN, (Reuters) – Ferrari first fully electric model will hit the streets in October 2026, its CEO said on Tuesday as the luxury sports car maker posted a 15% rise in first-quarter core earnings and stuck to its broad financial guidance for the year. Continue reading “Ferrari to start deliveries of new EV in October 2026”

WASHINGTON, (Reuters) – Amazon.com’s self-driving unit Zoox agreed to recall 270 driverless vehicles after an unoccupied robotaxi was involved in an April 8 crash with a passenger car in Las Vegas.

Zoox said on Tuesday there were no injuries in the crash. The Zoox Automated Driving Systems in certain driving scenarios “may make an inaccurate prediction when another vehicle slowly approaches perpendicularly and stops. In these scenarios, the Zoox vehicle may not be able to avoid a crash.” Continue reading “Amazon’s robotaxi unit Zoox agrees to software recall after self-driving Las Vegas crash”

Summary

• Rivian CEO warns of rising vehicle costs due to tariffs
• Lucid expects 8%-15% cost increase, sticks to production forecast
• Rivian to invest $120 million to relocate suppliers near Illinois plant

(Reuters) – Electric vehicle makers Rivian and Lucid warned of higher costs from U.S. tariffs on imported vehicles and auto parts, even as automakers scramble to rework sourcing of critical supplies and minimize disruption. Continue reading “EV makers Rivian, Lucid flag increasing costs as tariffs bite”

Summary

• US tariff impact on Toyota’s FY2025 profit forecast in focus
• FY2025 operating profit may face 800 billion yen tariff hit, says analyst
• FY2024 Q4 operating profit expected to show first y/y rise in three quarters

TOKYO, (Reuters) – Robust demand for hybrids is expected to underpin steady profits at Toyota when the world’s top automaker reports annual earnings on Thursday, although investors will be on high alert for any sign of a looming impact from U.S. tariffs. Continue reading “Toyota’s earnings buffered by demand for its hybrids, but US tariff hit looms”

(Reuters) – Rivian said on Monday it would invest $120 million to build a supplier park near its plant in Illinois, as the electric vehicle-maker gears up to produce its smaller, more affordable R2 SUVs next year.

The supplier park near Rivian’s facility at Normal, Illinois will reduce shipping, logistics and warehousing costs, while adding hundreds of jobs in the next two years, including about 100 directly by the company, it said. Continue reading “Rivian to build $120 million supplier park in Illinois”

PARIS, (Reuters) – Stellantis Chairman John Elkann and Renault CEO Luca de Meo urged the European Union to adopt more favourable rules for small cars, warning that the declining profitability of small cars could force plant closures without changes.

In a joint interview in French newspaper Le Figaro, Elkann and de Meo added that France, Italy and Spain should lead the effort as the demand for smaller, more affordable cars is the highest in these countries. They did not give details on the rules they wanted to see apply to small cars. Continue reading “Renault, Stellantis bosses urge more favorable EU rules for small cars”