Summary

• Tax woes mount for foreign automakers in India
• Kia privately contests India tax evasion demand, sources say
• Accusations similar to VW case on import of auto parts
• Kia India action covers Carnival model, notice shows

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

• Honda sounded out Nissan about becoming subsidiary -source
• Nissan opposed the Honda proposal -source
• Nissan board met Wednesday, agreed to scrap talks -source

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

• Ferrari plans to launch six new models in 2025, including EV
• Ferrari’s 2024 EBITDA rose 12% on strong demand
• No plans to accelerate shipments to US to beat tariffs

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

• Tesla sales decline in UK, France, Sweden, Norway, Netherlands
• Musk’s political actions polarize public opinion, affecting Tesla’s brand
• Tesla faces competition from newer EV models

(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

• ‘That’s fine,’ Trump says of China’s retaliatory duties
• Additional 10% tariff takes effect on China exports to US
• China imposes limited tariffs on smaller set of US imports
• China starts anti-monopoly investigation into Google
• Beijing imposes controls on metals exports

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

• Tariffs could cost automakers $110 million daily, $40 billion annually, analysts say
• Suppliers adding ‘tariff fee’ to invoices, potentially affecting automakers and consumers
• GM’s production heavily reliant on Mexico, Canada; shifting entirely to US challenging

(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

• US is top market by sales for Nissan, Honda and Toyota
• Nissan sources more US sales from Mexico than Honda, Toyota
• Tariff threat complicates Nissan-Honda merger plans

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

• India’s biggest import tax demand rattles Volkswagen
• Notice puts in peril $1.5 billion investment, company says
• Volkswagen India cites Amazon shopping example to defend case
• Automaker argues all taxes were paid in line with rules

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

• Merges software and engineering activities
• Gives greater powers to regional heads
• Antonio Filosa adds global role on quality
• Appoints new head of Peugeot brand
• Search for new CEO “well under way”

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

• Asian car makers hit by US tariffs on Mexico, Canada, China
• Japanese, South Korean automakers face export challenges due to tariffs
• Mexico, Canada plan retaliatory tariffs; impact on global growth expected

(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”

TOKYO, (Reuters) – Toyota Motor sold 10.8 million vehicles in 2024, it said on Thursday, remaining the world’s top-selling automaker for a fifth straight year.

The Japanese automaker posted a 3.7% drop in global group unit sales last year, including those of compact car maker Daihatsu and truck unit Hino Motors. Continue reading “Toyota sells 10.8 million vehicles in 2024 to remain world’s top-selling automaker”

(Reuters) – Autonomous technology startup Avride said on Thursday it has partnered with food delivery company Grubhub to deploy its robots on college campuses across the United States.

Companies and colleges began testing sidewalk delivery robots after the pandemic started, aiming to address labor shortages, cut costs, and reduce dependence on cars for deliveries. Continue reading “Autonomous technology startup Avride partners with Grubhub to roll out food delivery robots”

(Reuters) – Northvolt’s co-founder Paolo Cerruti will step down from his role as chief executive officer of its North American division, the Swedish electric-vehicle battery maker said on Thursday.

Karen Chang — who has played a key role in the Quebec, Canada-based battery gigafactory, Six project — will serve as interim CEO in the transition period. Continue reading “Northvolt’s co-founder, CEO of North American division, Cerruti steps down”

Summary

• Thai EV sales could jump 40% in 2025
• Production and subsidy conditions pushing EV sales – association president
• New supply and limited demand could intensify price war, analysts say

BANGKOK, – Thailand is bracing for an extended EV price war triggered by a surge in local production from Chinese car makers, a move likely to deal a further blow to a domestic auto industry already struggling with tumbling sales, industry experts said. Continue reading “Thai EV output set to jump, sparking a price war in a bruised market”

TOKYO, (Reuters) – Japan’s Nissan Motor is offering buyouts to workers and cutting back shifts at three U.S. factories, a company spokesperson said on Thursday, as the automaker pushes to slash $2.6 billion in costs globally.

Nissan will offer the separation packages to workers at its vehicle assembly plants in Smyrna, Tennessee, and Canton, Mississippi, and an engine plant in Decherd, Tennessee. Continue reading “Nissan cuts shifts, offers employee buyouts at 3 US plants in bid to shed jobs”

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JSW MG Motor India, in collaboration with LICO Materials, a division of Epsilon Group, has launched an advanced Battery Energy Storage System (BESS) as part of its sustainability initiative, ‘Project Revive.’

Offering four times the lifespan of conventional solutions and reducing operational costs by up to 60%, the BESS marks a significant step toward clean energy adoption in India. Continue reading “JSW MG Motor India, LICO Materials Unveil Advanced Battery Energy Storage System”

(Reuters) – U.S. President Donald Trump has pledged to place 25% tariffs on imports from Mexico and Canada from Feb. 1 if the two countries are not judged to be doing enough to stop the flow of fentanyl into the United States.

Around 90% of auto exports from both Mexico and Canada go to the U.S., according to the Mexican Automotive Manufacturers’ Association (AMIA) and the Canadian Vehicle Manufacturers’ Association. Continue reading “Global car industry in firing line of Trump’s tariff threats vs Mexico, Canada”

Summary

• Dowlais valued at 85.2 pence per share, 25% premium
• Dowlais shares up 4.6%
• AAM shareholders to hold 51% of combined entity
• Dowlais shareholders to own about 49% of new entity

(Reuters) – Detroit-based American Axle and Manufacturing will buy GKN Automotive owner Dowlais in a cash-and-stock deal, valuing the London-listed firm at about 1.16 billion pounds ($1.44 billion), the companies said on Wednesday. Continue reading “American Axle to buy GKN automotive owner Dowlais in $1.4 billion deal”

TOKYO, (Reuters) – Japan’s Nissan Motor is offering buyouts to workers and cutting back shifts at three U.S. factories, a company spokesperson said on Thursday, as the automaker pushes to slash $2.6 billion in costs globally.

Nissan will offer the separation packages to workers at its vehicle assembly plants in Smyrna, Tennessee, and Canton, Mississippi, and an engine plant in Decherd, Tennessee. Continue reading “Nissan cuts shifts, offers employee buyouts at 3 US plants in bid to shed jobs”

Summary

• Volvo Cars fully take over battery joint venture from Northvolt after contract breach
• Decline to disclose price of sale
• Northvolt attempting to divest most of joint venture businesses to avoid full collapse
• Northvolt explores potential North American supply opportunities with Volvo Cars

STOCKHOLM, (Reuters) – Swedish electric-vehicle battery maker Northvolt agreed with Volvo Cars on Wednesday to sell its stake in their joint battery venture Novo Energy for an undisclosed sum and explore potential collaborations in North America. Continue reading “Northvolt sells stake in battery unit to Volvo, to explore North American deals”

(Reuters) – Honda will recall 294,612 vehicles in the U.S. to fix an issue that may cause engines to stall or suffer a loss of power, the National Highway Traffic Safety Administration said on Wednesday.

The recall affects certain 2022-2025 Acura MDX Type-S, 2023-2025 Honda Pilot, and 2021-2025 Acura TLX Type-S vehicles. Continue reading “Honda to recall over 290,000 US vehicles on engine issue, NHTSA says”

PARIS, (Reuters) – Renault executives travelled to Japan this week to meet counterparts at Nissan in an effort to maximise the value of the French automaker’s stake in the Japanese firm ahead of its merger with Honda, a source close to the matter told Reuters.

Nissan and Honda said late last year they would begin formal talks on a merger that could potentially create the world’s third-largest auto group with annual output of 7.4 million vehicles. Continue reading “Renault seeking to maximize value of Nissan shares in Honda merger, says source”

(Reuters) – Alphabet’s self-driving unit Waymo announced on Wednesday it plans to expand testing of its autonomous driving technology in over 10 new cities in 2025.

After testing the Waymo Driver in multiple cities, the company says the technology is adapting successfully to new environments, leading to the expansion. Continue reading “Alphabet’s Waymo to test its autonomous driving technology in over 10 new cities”