Summary
DETROIT, (Reuters) – General Motors said on Wednesday it would increase its quarterly dividend by 25% and undertake a new $6-billion share buyback program.
Shares of the automaker rose about 6% in morning trading. Continue reading “GM to increase dividend 25%, buy back another $6 billion of shares”
Source : PTI | Tata Steel’s managing director TV Narendran on Tuesday pitched for safeguard duties on steel imports to protect the domestic steel industry from the indirect impact of US tariff hikes. He said many countries have initiated similar actions on steel imports, pointing out that the last three days have seen Vietnam imposing an anti-dumping duty on Chinese steel imports, and South Korea has also taken a similar decision.
“We are asking for safeguard duties, which can be imposed immediately to help us,” Narendran told reporters on the sidelines of the tech industry lobby grouping Nasscom’s annual event NTLF here. Continue reading “US tariffs: Tata Steel pitches for safeguard duties on imports”
Source : PTI | India is looking at increasing its target to blend ethanol with petrol to more than 20 per cent and has formed a committee under the NITI Aayog to look into it, Petroleum and Natural Gas Minister Hardeep S Puri said on Wednesday. Addressing the Advantage Assam 2.0 business summit, he said 19.6 per cent blending has already been achieved.
“We will be looking at more than 20 per cent blending of biofuel. Already a NITI Aayog group has been set up and they are looking into it,” he said. Continue reading “India looking at increasing ethanol blending with petrol to over 20%: Puri”
Source : PTI | Work on road projects worth Rs 80,000 crore will soon start in Assam, Road Transport Minister Nitin Gadkari said on Wednesday. Addressing virtually a session on the road, railway and riverine infrastructure at the Advantage Assam 2.0 business summit, he said that in the 15 years till 2029, projects worth Rs 3 lakh crore under his ministry will be completed in the state.
Among the new projects for which work will start are the Guwahati ring road, a tunnel under the Brahmaputra river and an elevated corridor at Kaziranga National Park, Gadkari said. Continue reading “Work on road projects worth Rs 80,000 cr will soon start in Assam: Gadkari”
BEIJING, (Reuters) – China’s market regulator held a symposium on fair competition with executives from seven companies, including Alibaba and LONGi Green Energy, the State Administration for Market Regulation (SAMR) said on Wednesday in a statement.
The executives at the symposium on Tuesday discussed the market environment, competition, and difficulties they face, and put forward suggestions for opposing monopolies and unfair competition, the statement said. Continue reading “Chinese competition regulator holds talks with Alibaba, Mercedes-Benz”
Summary
(Reuters) – Electric-vehicle maker Lucid Group said on Tuesday that Peter Rawlinson, its CEO for over 5 years, is stepping down from the role, and forecast its vehicle production will more than double this year, sending the company’s shares up 10% in extended trading. Continue reading “Lucid CEO steps down, company expects to more than double vehicle production this year”
Summary
MILAN, (Reuters) – Stellantis gave a cautious outlook for 2025 after its annual results took a hit from a slump last year in its U.S. business that led to the ousting of Carlos Tavares as CEO. Continue reading “Stellantis cautious on turnaround time as it searches for new CEO”
Summary
(Reuters) – Britain’s Aston Martin will cut 5% of its workforce to save 25 million pounds ($31.61 million), its chief executive said on Wednesday, after a sharp rise in the luxury carmaker’s losses and debt and as sales volumes forecast missed expectations. Continue reading “Aston Martin cuts 170 jobs as losses, debt balloon”
Gurugram, February 25, 2025: CarDekho Group, the auto-tech and fintech solutions provider, has officially announced its entry into the UAE market in partnership with Raya Holdings under the guidance of H.H. Sheikh Mohammed Bin Sultan Bin Khalifa Bin Zayed Al Nahyan. Replicating its Indian playbook, the company will now cater to the specific needs of the UAE market, aiming to ensure a seamless experience for car buyers, brands, and dealers alike. Continue reading “CarDekho Group Expands into the UAE Market in Partnership with Raya Holdings, Bringing Its Automotive Ecosystem to the Region”
(Reuters) – New car sales in Europe were down by 2.1% in January, as a jump in fully electric and hybrid-electric car registrations in its main markets was not enough to compensate for falling petrol and diesel sales, industry data showed on Tuesday.
Overall sales in France, Italy, Germany and Britain were down from last year, with only Spain recording a year-on-year increase among top selling nations, data by the European Automobile Manufacturers Association (ACEA) showed. Continue reading “European car sales drop in January as falling combustion engines outweigh EV gains”
Summary
SHANGHAI, (Reuters) – Tesla on Monday made a long-awaited update to its autopilot software in China to add a city navigation feature, but the move disappointed Chinese owners who said it fell short of Elon Musk’s promises. Continue reading “Tesla updates autopilot software in China, owners says move falls short of hopes”
Source : PTI | Bajaj Auto Ltd on Friday said its board has approved an investment of up to Euro 150 million (Rs 1,364 crore) in its wholly-owned arm, Bajaj Auto International Holdings BV, Netherlands, to fund the needs of the latter towards investment opportunities. The board of directors at its meeting held on Friday have accorded approval to invest funds up to Euro 150 million in Bajaj Auto International Holdings BV, Netherlands (BAIH BV), the company said in a regulatory filing.
The investment could be either in the form of equity capital, preference capital, loan — convertible or otherwise, as may be determined in the due course, in one or more tranches, it added. Continue reading “Bajaj Auto board gives nod to infuse Euro 150 million in Netherlands-based arm”
Source : PTI | Mumbai: India welcomes Tesla and also all the other global companies which want to invest and manufacture in the country, Union Minister Piyush Goyal said on Saturday. Replying to a question on Elon Musk-promoted EV maker Tesla’s speculated entry into India, Goyal said the American company is welcome to set up a presence in India.
It is the give and take which creates mutually beneficial partnerships, the minister said, making it clear that India is not anti-imports. “We welcome Tesla and also all the other global companies who want to invest and manufacture in India,” Goyal said. Continue reading “Piyush Goyal says Tesla welcome to invest, manufacture in India”
LONDON, (Reuters) – BMW said on Saturday it is rethinking its timetable for manufacturing all-electric Mini cars in Britain, citing uncertainties facing the industry.
Mini announced in 2023 that it would invest 600 million pounds ($757.80 million) in the UK to make its Mini brand all-electric by 2030 with production due to start in Oxford in 2026. Continue reading “BMW says it will review timing of electric Mini production in UK”
Summary
NEW DELHI, (Reuters) – India’s EV policy, which offers import tax cuts for foreign automakers investing in the country, will restrict them from using funds spent on charging infrastructure for such relief, increasing their car manufacturing, a government document shows. Continue reading “India to cap investment in EV charging for tariff relief as Tesla entry looms, document shows”
Summary
MILAN, (Reuters) – As Stellantis chairman John Elkann interviews CEO candidates, deciding how many of the automaker’s 14 brands have a viable future is a significant priority. Continue reading “Stellantis faces brands dilemma as it searches for new CEO”
Summary
NEW DELHI, (Reuters) – India’s EV policy, which offers import tax cuts for foreign automakers investing in the country, will restrict them from using funds spent on charging infrastructure for such relief, increasing their car manufacturing, a government document shows. Continue reading “India to cap investment in EV charging for tariff relief as Tesla entry looms, document shows”
Summary
WASHINGTON, (Reuters) – U.S. negotiators pressing Kyiv for access to Ukraine’s critical minerals have raised the possibility of cutting the country’s access to Elon Musk’s vital Starlink satellite internet system, three sources familiar with the matter told Reuters. Continue reading “Exclusive: US could cut Ukraine’s access to Starlink internet services over minerals, say sources”
(Reuters) – U.S. President Donald Trump’s Trump Media & Technology Group said on Friday it will propose reincorporating the company in Florida at its annual meeting in late April.
“We look forward to uniting our legal home with our physical home as we explore possibilities for mergers, acquisitions, partnerships, and other growth,” said CEO Devin Nunes. Continue reading “Trump Media to propose reincorporation in Florida”
(Reuters) – Ford Motor is recalling 240,510 vehicles in the U.S. over potential seat belt issues, the National Highway Traffic Safety Administration said on Friday.
The recall affects certain 2020-2021 Ford Explorer and Aviator vehicles where the seat belt buckle anchor bolts may be improperly secured. Continue reading “Ford to recall over 240,000 vehicles in US over potential seat belt issues”
Summary
(Reuters) – A high-level Japanese group that includes a former prime minister has drawn up plans for Tesla to invest in Nissan after the collapse of its merger talks with Honda the Financial Times said on Friday. Continue reading “Japan seeks Tesla investment in Nissan, Foxconn approaches Honda, reports say”
MILAN, (Reuters) – Italy’s competition authority said on Friday it was investigating BYD, Stellantis, Tesla and Volkswagen for allegedly misleading consumers on the performance of their electric vehicles.
The investigations for possible unfair commercial practices concern information “on EV driving range, battery capacity degradation and limitations on standard battery warranties, potentially in breach of the Consumer Code”, the watchdog said in a statement. Continue reading “Italy investigates Stellantis, Tesla, VW and BYD over EV consumer info”
(Reuters) – Rivian said on Friday it is recalling 17,260 vehicles in the U.S. due to a headlight issue that could reduce visibility and increase the risk of a crash.
The recall affects certain 2025 R1S SUV and R1T pickup truck vehicles, the company said in a report with the National Highway Traffic Safety Administration. Continue reading “Rivian to recall over 17,000 vehicles in US over headlight issue”
(Reuters) – Ford Motor is recalling 240,510 vehicles in the U.S. over potential seat belt issues, the National Highway Traffic Safety Administration said on Friday.
The recall affects certain 2020-2021 Ford Explorer and Aviator vehicles where the seat belt buckle anchor bolts may be improperly secured. Continue reading “Ford to recall over 240,000 vehicles in US over potential seat belt issues”
Summary
BERLIN, (Reuters) – Volkswagen’s Audi will expand output in North America and Mercedes will boost its U.S. production as Europe’s carmakers try to protect themselves against U.S. President Donald Trump’s tariff threats. Continue reading “Big German carmakers try to shield themselves against Trump tariffs”
LONDON, (Reuters) – Stellantis’ 771 million euro ($807.62 million) lawsuit against two safety equipment makers was dismissed by a London tribunal on Friday.
The automaker, which was formed by the 2021 merger of Fiat Chrysler Automobiles and PSA Group, sued Autoliv and ZF/TRW for allegedly charging higher prices for seatbelts, airbags and steering wheels. Continue reading “Stellantis’ $807 million UK lawsuit over airbag, seatbelt cartels dismissed”
WASHINGTON, (Reuters) – Tesla on Friday said it was recalling 376,000 of its electric vehicles in the U.S., due to a failure of the power steering assist feature that could make the vehicles harder to steer, particularly at low speeds, raising the risk of a crash.
Tesla shares fell 3% in mid-day trading.
The recall follows a more than year-long probe by the National Highway Traffic Safety Administration after some Tesla owners reported steering failures. Some were unable to turn the wheel while others cited increased effort. More than 50 vehicles were allegedly towed due to the issue, NHTSA said last year. Continue reading “Tesla recalls 376,000 vehicles in US over power steering, shares drop”
WAF AUTO THINK TANK
What Car Customers Really Want? CarPhD
JSW MG Motor India Appoints Anurag Mehrotra As Managing Director WAF Continue reading “WAF Auto News | The Auto World This Week (21st February 2025)”
JSW MG Motor India has announced the appointment of Anurag Mehrotra as its new Managing Director. With nearly three decades of experience in the automotive sector, Mehrotra has held leadership roles across sales, marketing, strategy, and business development. His past positions include Vice President of Strategy & International Business at Tata Motors Commercial Vehicles and President & Managing Director at Ford India. Based in Gurugram, he will be responsible for steering JSW MG Motor India’s strategic growth initiatives while strengthening the company’s core brand pillars of diversity, experience, innovation, and community. Continue reading “JSW MG Motor India Appoints Anurag Mehrotra As Managing Director”
JSW MG Motor India has announced a major production milestone, surpassing 15,000 units of the MG Windsor, India’s first Intelligent CUV. Since its launch, the Windsor has held the title of India’s best-selling EV for four consecutive months (October 2024 – January 2025), reinforcing its strong market demand and contributing to the country’s accelerating EV adoption.
The MG Windsor has maintained a steady influx of approximately 200 daily bookings, highlighting sustained customer interest. However, JSW MG Motor India has confirmed that ongoing facility upgrades at its Halol plant will temporarily impact production in February 2025. These modifications aim to expand capacity and prepare the facility for upcoming product launches under the new MG Select brand. Continue reading “JSW MG Motor India Marks 15,000-Unit Production Milestone For Windsor”
Source : PTI | The customs department on Monday told the Bombay High Court that it has not, and will not, stop any consignment of Skoda Auto Volkswagen India pursuant to a September 2024 show cause notice issued to the German firm seeking USD 1.4 billion in tax.
The company last month filed a petition in the HC challenging the notice, terming it as “arbitrary and illegal”.
The tax demand notice relates to the firm allegedly importing car parts as individual units rather than as “completely knocked down” (CKD) units, which attract higher import duties.
Summary
ABOARD AIR FORCE ONE, (Reuters) – U.S. President Donald Trump said on Wednesday he will announce fresh tariffs over the next month or sooner, adding lumber and forest products to previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals. Continue reading “Trump adds lumber to list of goods facing tariffs over ‘next month or sooner’”
Summary
PARIS, (Reuters) – French automaker Renault reported a record operating profit for 2024 on Thursday, slightly beating expectations, as lower costs and a string of new launches boosted margins. Continue reading “Renault beats profit forecast, warns on EU emissions rules”
Summary
TOKYO, (Reuters) – Japanese carmaker Suzuki Motor has trimmed its sales target in India, its “most important market”, and scaled back its line-up of electric car launches, even as it plans to expand global sales by a third to 4.2 million vehicles by fiscal year 2030. Continue reading “Japan’s Suzuki trims India sales target amid competition, scales back EV launches”
Summary
BERLIN, (Reuters) – Mercedes-Benz on Thursday announced further cost-cutting and more petrol and diesel cars than EVs in its new product range, in a bid to revive margins as the company braces for a sharp drop in earnings in 2025. Continue reading “Mercedes-Benz cuts costs, renews focus on combustion engine models in bid to revive earnings”
Summary
TOKYO, (Reuters) – Almost nine out of 10 Japanese companies expect U.S. President Donald Trump’s policies to negatively affect business, a Reuters survey showed on Thursday, the clearest sign yet of mounting worry in the United States’ top foreign direct investor. Continue reading “Exclusive: Almost 90% of Japanese companies see Trump as bad for business, Reuters survey shows”
TOKYO, (Reuters) – Japanese small car maker Suzuki Motor said it will target 4.2 million vehicles in global sales in five years’ time – an increase of nearly a third – with most of its expansion concentrated in its main market of India.
It expects 60% of those sales to be in India, adding that the world’s most populous nation would also receive 60% of the 2 trillion yen ($13 billion) it plans to invest by the 2030 financial year. Continue reading “Japan’s Suzuki aims to boost sales by a third by 2030, invest heavily in India”
Summary
(Reuters) – Nikola said on Wednesday it had filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets, the latest electric-vehicle maker to stumble after grappling with tepid demand, rapid cash burn and funding challenges. Continue reading “Nikola goes bankrupt, to sell assets in latest EV market turmoil”
Summary
WASHINGTON, (Reuters) – Federal regulators have cited Teslafor violating workplace safety rules in connection with the electrocution of a worker last summer at its Austin, Texa s, auto-manufacturing plant.
The U.S. Department of Labor confirmed the findings in a statement to Reuters. Continue reading “Exclusive: Tesla cited by U.S. regulators over worker’s death”
Continue reading “List of Holidays in India | Gazetted, Restricted & Tentative Non Working Days”
