Summary

• GM posts strong results, better outlook for 2025 than expected
• Shares slump as tariffs become likely
• Automaker has brought inventory in early due to tariff threats
• GM sold 2.7 mln vehicles in 2024

DETROIT, (Reuters) – General Motors earnings exceeded Wall Street’s forecasts on Tuesday, but investors still dumped the stock broadly on fears of tariffs that will make it hard for the automaker to hit its 2025 targets. Continue reading “GM results aren’t enough for investors, shares skid 9% on tariff worries”

Source : PTI | Hyundai Motor India reported a 19% decline in consolidated profit after tax for the third quarter of 2024, ending December 31. The company attributed the decrease to subdued demand and geopolitical factors, resulting in a profit of INR 1,161 crore compared to INR 1,425 crore in the same period last year. Despite the challenges, Hyundai maintains confidence in its business fundamentals and plans to leverage its strengths for future growth, particularly in the electric vehicle (EV) market.

The company’s total revenue also saw a slight decrease, from INR 16,875 crore in the third quarter of 2023 to INR 16,648 crore in the same period of 2024. This decline in margins was primarily attributed to subdued market demand and ongoing global geopolitical influences.

Continue reading “Hyundai Motor India reports 19% decline in Q3 profit amidst subdued demand and geopolitical challenges”

Source : PTI | Japan’s Honda Motor plans to launch a small electric vehicle priced below USD 30,000 in North America by as early as 2026, the Nikkei newspaper said on Tuesday, as it plays catch-up in the battery-powered car market.

The automaker will produce the low-cost model locally, the Nikkei said, adding it will roll it out as part of its upcoming “Honda 0 Series” EV lineup. Continue reading “Japan’s Honda eyes launching sub-USD 30,000 EV in North America”

Source : PTI | The Maharashtra government has formed a seven-member committee to explore the possibility of banning petrol and diesel vehicles in Mumbai Metropolitan Region and allowing only CNG and electric vehicles in view of the city’s worsening air quality. The panel, headed by retired IAS officer Sudhir Kumar Shrivastava, will study and submit a report with its recommendations within three months, as per the government resolution (GR) dated January 22. Continue reading “Maharashtra sets up panel to explore phasing out petrol and diesel vehicles in Mumbai”

Source : PTI | Czech carmaker Skoda is looking to turn profitable in India this year as it expects sales to double with its foraying into the high volume sub-compact SUV segment with its new offering Kylaq, according to a top company executive. Bullish on its growth aspects, the automaker expects the Indian market to break into its top five markets globally with enhanced sales volume growth.

In an interaction with PTI, Skoda Auto Board Member for Sales and Marketing Martin Jahn said the company plans to enhance its model lineup, including electric cars, and bolster localisation to ramp up the scale of operations in India. Continue reading “Skoda looks to turn profitable in India this year: Official”

Source : PTI | The Battery Passport, often likened to an Aadhaar card for batteries, is just the tip of the iceberg, says Anil Radhakrishnan, the Chief Product Officer at Tata Elxsi, in an exclusive interaction with ETAuto at The Bharat Mobility Global Expo 2025. It is part of a broader digital product identity initiative spearheaded by regulators and global organisations to enhance data transparency, security, and sustainability across the entire automotive supply chain.

Continue reading “Battery Passport: Transforming EV supply chains with data transparency, security and sustainability”

Source : PTI | The red bahikhata in Finance Minister Nirmala Sitharaman’s hands, to be presented on February 1, 2025, holds the hope of bringing new opportunities to the country with digitalisation, localisation and other advancements.

The auto industry has pinned its hopes on this budget to transform the Indian auto sector with sustainability. This transformation requires uniformity in taxes for electric vehicles (EVs), upskilling of human resources, a strengthened local supply chain, and much more. Continue reading “Budget 2025: Auto players urge subsidy continuity, tax reduction, enhanced localisation and upskilling of human resources”

Source : PTI | New Delhi: Sona BLW Precision Forgings is “actively” looking to enter the complex and competitive Chinese auto component market. This marks an about turn from what the company had said just a few quarters back – it had then pooh poohed the threat from the Chinese while pointing towards protectionist policies of the US and Indian governments and made no move to identify Chinese OEMs for supplying its own products. At that time, Sona had asserted that it was well placed to compete with the Chinese in the global automotive market. But since then, the global heft of the Chinese has increased, the US is in the midst of sweeping policy realignments and perhaps the motto – if you can’t beat them, might as well join them – best fits Sona’s current strategy. Continue reading “Sona to enter ‘challenging’ China market, dismisses threat from Trump tariffs for US revenues”

Source : PTI | Honda will begin operating a dedicated electric two-wheeler plant in India in 2028.

A wide variety of electric models will be produced here by combining modules that are common for multiple models. Additionally, for batteries, the core component of electric models, Honda has been working with battery manufacturers to establish specifications suited to the characteristics of two-wheelers and ensure stable procurement. Continue reading “Honda to operate dedicated electric 2-wheeler plant in India by 2028”

(Reuters) – Mercedes-Benz told investors on Monday it expected the adjusted margin of its passenger car division to be above its 6%-7% forecast for the fourth quarter of 2024, according to analysts at Bernstein Research and Jefferies.

The luxury carmaker, which is due to report full-year results on Feb. 20, was confident it would achieve its full-year margin target of 7.5%-8.5%, the analysts’ notes said. Continue reading “Mercedes-Benz expects higher margin on car division in fourth quarter, analysts say”

(Reuters) – Global sales of fully electric and plug-in hybrid vehicles will rise by at least 17% this year to over 20 million cars, helped by an extension of China’s auto trade-in subsidies, research firm Rho Motion forecast on Tuesday.

Europe, the world’s second-biggest EV market, will return to sales growth as CO2 emission targets come into effect and cheaper models become available, but the pace will remain slower than in 2023, Rho Motion Head of Research, Iola Hughes, said. Continue reading “EV car sales to top 20 million in 2025, research firm says”

WASHINGTON, (Reuters) – A U.S. appeals court on Monday threw out consumer protection rules adopted by the Biden administration to ban bait-and-switch tactics and prohibit auto dealers charging for add-on costs that do not benefit new car buyers.

In response to legal challenges brought by the National Automobile Dealers Association (NADA) and a Texas dealer group, the 5th Circuit Court of Appeals said in a 2-1 decision that the Federal Trade Commission (FTC) had violated procedural rules in writing the regulation without giving advance notice of the planned regulation. Continue reading “US court throws out Biden-era rules designed to protect car buyers”

BERLIN, (Reuters) – Volkswagen’s CEO has spoken to the carmaker’s Chinese joint venture partners about their interest in investing in Europe but was not aware of any concrete decisions on their part, a VW spokesperson said on Tuesday.

The spokesperson declined to comment on whether any discussions have taken place with joint venture partners on the topic of acquiring Volkswagen’s own plants. Continue reading “VW CEO says talking to Chinese partners about their Europe expansion plans”

Summary

• GM posts strong results, better outlook for 2025 than expected
• Shares slump as tariffs become likely
• Automaker has brought inventory in early due to tariff threats
• GM sold 2.7 mln vehicles in 2024

DETROIT, (Reuters) – General Motors on Tuesday posted fourth-quarter 2024 results and a 2025 earnings forecast ahead of Wall Street expectations, but shares fell sharply in trading Tuesday as investors weighed the threat of tariffs that could hit the automaker’s business. Continue reading “GM results top Wall Street targets; shares slump as tariff threat looms”

Source : PTI | Automobile exports from India rose 19% year-on-year in 2024 led by a robust dispatch of two-wheelers, passenger vehicles and commercial vehicles, according to SIAM data. Overall shipments rose to 50,98,810 units last year, up 19% from 42,85,809 units exported in 2023.

“Last year saw revival in demand for the Indian automobiles from emerging markets like Latin America and Africa,” Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI when asked about reasons for exports growth last year.

Continue reading “Demand revival in emerging markets aids automobile exports grow 19% in 2024”

Source : PTI | Ahead of the Union Budget, Tata Technologies on Monday called for increased allocation toward upskilling initiatives aligned with Industry 4.0 to create a future-ready workforce. In order to achieve India’s ambitious goals outlined in the roadmap for a USD 5 trillion economy, the budget should prioritise innovation-driven policies, investments in emerging technologies, and the development of products in India, for India and the world, Tata Technologies CEO & MD Warren Harris said in a statement.

Key growth drivers such as smart manufacturing, AI, digital transformation, and software-defined vehicles (SDVs) require strong government backing through incentives for R&D, skill development, and infrastructure enhancement, he noted. Continue reading “Hike allocation for upskilling initiatives in Budget to create future-ready workforce: Tata Tech”

Source : PTI | TVS Motor, a leading player in the two and three-wheeler segment, is planning to make a foray into the electric cargo vehicle space, an official said on Monday. The company, which launched its electric three-wheeler passenger vehicle in the eastern metropolis, is hoping to roll out the cargo variant during the last quarter of the current financial year.

“We launched the electric three-wheeler in Kolkata along with UP, Bihar, J&K and Delhi in the passenger segment. The company aims to make a foray into the electric cargo three-wheeler segment during the fourth quarter of the current financial year”,

Continue reading “TVS Motor plans to enter electric 3-wheeler cargo vehicle segment”

Summary

• JMAT aims for higher cash conversion levels by 2026
• Steps follow pressure from top investor Standard Investments

(Reuters) – British autocatalyst maker Johnson Matthey said on Monday it would review its executive pay and cut its capital expenditure in its hydrogen technologies business to boost its cash following pressure from its top investor. Continue reading “Johnson Matthey to review executive pay, cut spend in hydrogen technologies”

BRUSSELS, (Reuters) – Tesla has joined BMW and Chinese producers in filing a challenge at the Court of Justice of the European Union (CJEU) against EU tariffs on China-made electric vehicles, according to a filing on the court’s website on Monday.

The challenge will open a new front in Brussels’ conflict with Elon Musk, Tesla CEO and ally of U.S. President Donald Trump. Earlier this month, the EU stepped up its probe into Musk’s social media platform X over content moderation. Continue reading “Tesla joins court challenges to EU tariffs on Chinese EVs”

Summary

• Investors await details on Tesla’s lower-cost model for growth
• FSD software boosts Tesla’s profit margins, analysts say
• Stock has soared over 60% since Trump election victory in November

(Reuters) – Tesla investors will look for more details on the automaker’s lower-priced model when it reports quarterly results on Wednesday as some expect the cheaper car to help the company hit its goal to increase deliveries by up to 30% this year. Continue reading “Tesla investors pin hopes on cheaper EV model to boost sales after lackluster 2024”

(Reuters) – Jaguar Land Rover (JLR) will invest 65 million pounds ($80.71 million) to expand its luxury paint services in the UK and Slovakia to meet increased demand for personalised cars from high-end clients, it said on Monday.

The luxury car maker joins rival Rolls-Royce Motor Cars, a unit of BMW, in trying to cash in on the trend. Continue reading “JLR to invest $80 million to meet demand for custom luxury car colours”

Source : PTI | A  lithium refinery project with an investment of INR 42,532 crore is expected to be launched in Nagpur this year, a release said on Saturday. An agreement was signed at Davos, Switzerland, by the Maharashtra government and Vardhaan Lithium (I) Pvt. Ltd to establish lithium refinery at Butibori in Nagpur, Maharashtra. Continue reading “INR 42,532 cr lithium refinery project to be launched in Nagpur this year”

Source : PTI | Two-wheelers are a necessity and not luxury in the current Indian context and taxes on these vehicles must be reduced as the industry is staring at a single-digit growth next fiscal with affordability becoming an issue, according to a senior executive of Honda Motorcycle and Scooter India. There is also a requirement for income tax rationalisation to enable middle-income people start spending again, Honda Motorcycle and Scooter India (HMSI) Director Sales and Marketing Yogesh Mathur told PTI in an interview. Continue reading “Two-wheelers not luxury, tax cut needed to spur demand: HMSI”

Source : PTI | Bharat Mobility Global Expo 2025 concluded on Wednesday after witnessing around 200 product unveils across automotive, components and technology, with the government planning to seek industry views to make it an annual affair. As per the organisers, the second edition of the event saw participation from over 1,500 exhibitors and footfalls of over 8 lakh people, making it one of the largest mobility events globally. Continue reading “Govt to seek industry input on making Bharat Mobility Expo an annual event”

Source : PTI | An assembly line to enhance local manufacturing capabilities was inaugurated by Ezz LCV, the authorisied distributor of TVS Motor Company in Giza, Egypt, the two wheeler manufacturer said. Established at an investment of about USD 6.5 million, the state-of-the-art facility would have a total production capacity of one lakh units per year, thereby expanding Ezz LCV’s ability to meet growing market demand. Continue reading “TVS Motor’s distributor Ezz LCV sets up new assembly line; to boost local manufacturing in Egypt”

TOKYO, (Reuters) – Japan’s Mitsubishi Motors, a junior partner of Nissan Motor, is considering not joining a planned merger between Nissan and Honda Motor, sources told Reuters on Friday.

Mitsubishi Motors plans to remain listed while continuing its cooperative relationship with both companies, three sources said on condition of anonymity because they were not authorised to speak about the matter publicly. Continue reading “Mitsubishi Motors considering not joining planned Nissan-Honda merger, sources say”

PALO ALTO, California, (Reuters) – A joint venture between U.S. electric pickup and SUV maker Rivian and Volkswagen is in talks with other automakers about supplying their software and electrical architecture, a senior Rivian executive said on Thursday.

The German automaker agreed in November to invest $5.8 billion in the joint venture, which will integrate advanced electrical infrastructure and Rivian’s software technology for both companies’ future electric vehicles. Continue reading “Rivian says other automakers ‘knocking on door’ about tech from VW joint venture”

BEIJING, (Reuters) – Tesla will fix software for some imported Model S and X, and China-made Model 3 and Y cars over safety hazards, totalling more than 1.2 million units, China’s market regulator said.

The action, effective Friday, is described as a product recall under Chinese regulations. Continue reading “Tesla to fix software for over 1.2 million imported and China-made cars, says regulator”

BRUSSELS, (Reuters) – BMW has joined Chinese producers in filing a challenge at the Court of Justice of the European Union (CJEU) against EU tariffs on China-made electric vehicles (EVs), according to a filing on the court’s website.

The EU imposed tariffs on China-made EVs at the end of October after an anti-subsidy investigation. The rate for BMW, which manufactures the electric Mini Cooper and electric Mini Aceman in China, is 20.7%. Continue reading “BMW joins Chinese EV makers in filing EU court challenge to tariffs”

Summary

• BYD, Geely and SAIC file court challenges to EU tariffs
• Chinese industry body CCCME has also filed a complaint
• European Commission says technical contact with China continues

BRUSSELS, (Reuters) – Chinese electric vehicle makers BYD, Geely and SAIC have challenged the EU’s import tariffs at the Court of Justice of the European Union (CJEU), filings on the court’s website showed on Thursday. Continue reading “Chinese EV makers file challenges to tariffs at EU court”

Source : PTI | New Delhi: Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported more than tripling of its December quarter net profit as marketing margins soared. Consolidated net profit stood at INR 2,543.65 crore in October-December 2024 – the third quarter of April 2024 to March 2025 fiscal year (FY25) – compared with INR 712.84 crore earning in the same period a year back, according to a stock exchange filing of the company.

Continue reading “HPCL net profit more than triples in Q3”

Source : PTI | Jupiter Electric Mobility on Friday said it has formed a strategic partnership with logistics operator Porter for its Udaan programme.

The Udaan program is designed to support local small entrepreneurs and drivers to establish and grow their businesses in the electric logistics segment, besides providing professional training and access to essential EV resources and guiding entrepreneurs through the company’s dealership network.

Continue reading “Jupiter Electric Mobility joins hands with logistics operator Porter for Udaan programmme”

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Summary

• Vingroup’s shares close to multi-year lows, fall most among top Vietnam firms
• Vingroup market cap has nearly halved since VinFast’s Nasdaq listing
• Agencies rate as junk the debt of Vingroup’s most profitable unit
• Vingroup says it remains committed to VinFast’s growth

HANOI, (Reuters) – Vietnamese conglomerate Vingroup is facing renewed scrutiny on its strategy of backing loss-making electric vehicle maker VinFast , with its shares near multi-year lows as foreign investors sell and its borrowing costs rise. Continue reading “EV maker VinFast’s losses heap pressure on parent Vingroup as foreign investors sell”

TOKYO, (Reuters) – Nissan Motor plans to procure batteries for electric vehicles sold in the U.S. from South Korea’s SK On from around 2028 onwards, the Nikkei newspaper said on Thursday, as the troubled Japanese automaker looks to ramp up its EV business as part of a planned turnaround.

Separately, a Nissan executive said the automaker was considering plans to produce compact EVs at its plant on Japan’s southern island Kyushu, confirming a 2024 Reuters report. Continue reading “Nissan to procure EV batteries from SK On for US market, Nikkei reports”

(Reuters) – Ford Motor is recalling 272,817 vehicles in the United States on concerns over battery failure, the National Highway Traffic Safety Administration (NHTSA) said on Thursday.

The recall affects certain 2021-2023 Bronco Sport and 2022-2023 Maverick vehicles. Continue reading “Ford to recall over 270,000 US vehicles over battery concern, NHTSA says”

(Reuters) – Tesla will raise prices of all its cars in Canada from Feb. 1, according to notices on its Canadian website, with prices of Model 3 going up by as much as C$9,000 ($6,254.78).

Model Y variants will see increases of up to C$4,000, while all versions of Model S and X will rise by C$4,000, according to the website. Continue reading “Tesla to significantly raise prices of all cars in Canada, website shows”

Source : PTI | India has the advantage of achieving carbon neutrality through bioethanol and renewable energy-based electrification but the government needs to create a mechanism to make prices of bioethanol fuel more affordable to make it economically viable for users, Honda Motor Co Ltd Chief Engineer Hiroya Ueda said on Tuesday. Speaking at auto industry body SIAM’s 3rd International Symposium for Thriving Eco-Energy in Mobility event, Ueda said ethanol has an edge over existing fuels in terms of cutting carbon emissions but the running cost is higher due to low fuel efficiency. Continue reading “Need govt policy to make bioethanol fuels price more affordable for wider adoption in India: Honda”