FRANKFURT, (Reuters) – Germany on Friday will vote against the introduction of European Union tariffs on Chinese electric vehicles, people with knowledge of the matter told Reuters on Thursday.

Germany abstained in a first non-binding vote in July on the European Commission’s proposal to impose the tariffs, but since then industry has pressured German Chancellor Olaf Scholz to vote against the measure in Friday’s vote by European Union member states. Continue reading “Exclusive: Germany to vote against EU tariffs on Chinese electric vehicles, sources say”

BRUSSELS, (Reuters) – European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing.

The European Commission, which oversees the bloc’s trade policy, proposed final duties for the next five years to counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation. Continue reading “EU governments face pivotal vote on Chinese EV tariffs”

Source : PTI | New Delhi: Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited INR 25,000-crore initial share-sale for public subscription on October 14, people familiar with the development said on Thursday. This would be the largest initial public offering (IPO) in India after LIC’s initial share sale of INR 21,000 crore.

According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India’s proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component. Continue reading “Hyundai Motor India may launch its INR 25,000 cr IPO on Oct 14”

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Summary

• EU to vote on tariff proposal for Chinese EVs on Friday
• France, Greece, Italy and Poland say they will vote in favour, sources say
• Their support should be enough to pass the vote
• France’s Macron says China’s level of subsidies ‘unbearable’

BRUSSELS, (Reuters) – France, Greece, Italy and Poland will vote on Friday in favour of tariffs of up to 45% on imports of electric vehicles (EVs) made in China, sources said, enough to push through the European Union’s highest profile trade measures, risking potential retaliation from Beijing. Continue reading “EU has enough support to impose Chinese EV tariffs, sources say”

(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”

Summary

• Tesla’s FSD software lets ride-hail drivers work longer hours, increasing their profit
• Drivers report critical shortcomings with FSD, including sudden acceleration and braking
• Tesla on Oct. 10 is set to unveil its robotaxi product whose software will be based on FSD

(Reuters) – A self-driving Tesla carrying a passenger for Uber rammed into an SUV at an intersection in suburban Las Vegas in April, an accident that sparked new concerns that a growing stable of self-styled “robotaxis” is exploiting a regulatory gray area in U.S. cities, putting lives at risk. Continue reading “Uber and Lyft drivers use Teslas as makeshift robotaxis, raising safety concerns”

(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”

Summary

• Introduction of the much anticipated new Virtus GT Line and GT Plus Sport, epitomizing sporty aesthetics in a new black themed avatar
• Enhanced feature package on the new GT Line: additional features such as 20.32 cm Digital cockpit, Electric sunroof, Laser red ambient lighting, Alu pedals, Auto headlights, Rain sensing wipers, Auto dimming IRVM and more
• Licensed to thrill: commanding the No.1 position in the segment, the popular Virtus now in its GT Plus Sport variant, gets 23 new aesthetic and feature updates; complementing its blistering performance with sporty design elements
• “More for Less” – Introducing the new Highline Plus variant: Volkswagen India introduces the new Highline Plus variant powered by the 1.0l TSI petrol engine on both the Taigun and Virtus car lines. Feature highlights of this variant (over and above the Highline) include 20.32 cm Digital cockpit, Auto dimming IRVM, KESSY: Push button start stop, Electric sunroof, Auto Headlights, Rain sensor, Auto coming/ leaving home lights and much more
• Enhanced entertainment on the go with the subwoofer and amplifier now being a standard on the Topline variant across Taigun and Virtus
• Refreshed offer structure: Both Volkswagen Taigun and Virtus will now be offered to customers under the ‘Chrome’ and ‘Sport’ offer structures

Mumbai: Volkswagen India today launched the much-awaited Virtus GT Line and Virtus GT Plus Sport that personify customer aspirations in a cool new aesthetically enhanced avatar. The Brand has also introduced an enhanced feature package for the Taigun GT Line while reinvigorating the line structure with the introduction of a new Highline Plus variant for both India 2.0 car lines. Continue reading “Volkswagen India introduces the Virtus GT Plus Sportand GT Line; along with a refreshed line structure offering: “More for Less””

Summary

• GM to deliver message focused on stability over aggressive growth
• Investors concerned about EV losses and competition from China
• Barra: operations in China are “unsustainable” without a restructuring
• GM to highlight combustion-engine vehicle profits and new SUV launches
• Shareholders eager to hear how GM intends to bring down EV costs

DETROIT, (Reuters) – General Motors will assure investors next Tuesday that there is no need to panic about decelerating demand for electric vehicles and the U.S. automaker could even improve its profits in 2025, according to two people familiar with the plans. Continue reading “GM seeks to ease shareholders’ nerves at investor day”

MILAN, (Reuters) – Automaker Stellantis’ output in Italy is set to drop below 500,000 vehicles this year from 751,000 in 2023, the FIM-CISL union said on Wednesday, citing persistently soft market demand, especially for electric vehicles.

The projection signals an output level well below the target that Stellantis, whose brands include Fiat and Alfa Romeo, is discussing with the Italian government, of one million vehicles – for both passenger cars and vans – by the end of this decade. Continue reading “Stellantis’ Italian output to drop below 500,000 units this year, union warns”

(Reuters) – Toyota Motor will postpone the start of electric-vehicle production in North America to the first half of 2026 due to design adjustment and slowing EV sales, the Nikkei business daily reported on Thursday.

The Japanese automaker recently told suppliers the start date for production of its first battery EV model at its factory in the U.S. state of Kentucky – a three-row SUV – will be delayed by several months, the Nikkei said. Continue reading “Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports”

(Reuters) – Tesla’s most affordable Model 3 compact sedan was no longer available for order in the U.S., according to the EV maker’s website on Wednesday.

The Model 3 Standard Range Rear-Wheel Drive, priced at $38,990, uses lithium iron phosphate (LFP) battery cells sourced from China. Continue reading “Tesla discontinues most affordable Model 3 variant in US, website shows”

Source : PTI | Tata Steel-owned Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of “legacy” steelmaking as the UK’s largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel.

The Mumbai-headquartered steel giant said it is looking ahead to a “brighter, greener future” for the historic site and sustaining more than 5,000 jobs.

Continue reading “Tata Steel ends ‘legacy steelmaking’ at Britain’s largest steelworks”

Source : PTI | Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 % dip in total domestic passenger vehicle wholesales last month to 1,44,962 units compared to 1,50,812 units in the year-ago month.

The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.

Continue reading “Maruti, Hyundai, Tata Motors report decline in wholesales in Sep”

Source : PTI | New Delhi: Hero MotoCorp on Tuesday said its wholesales increased 19% year-on-year to 6,37,050 units in September. The two-wheeler major had dispatched 5,36,499 units to dealers in September 2023.

The company said its domestic sales rose to 6,16,706 units last month from 5,19,789 units in the year-ago period.

Exports rose to 20,344 units last month compared to 16,710 units in the same month last year. Continue reading “Hero MotoCorp sales rise 19% to 6,37,050 units in September”

Source : PTI | Ministry of Heavy Industries is working with auto industry associations SIAM and ACMA on Automotive Mission Plan 2047, which will pave the way for India to become an advanced industrial power, a top official said on Tuesday. Addressing an event to launch the PM E-DRIVE Scheme, Secretary in Ministry of Heavy Industries Kamran Rizvi said the PM E-BUS SEVA Payment Security Mechanism will also be rolled out shortly.

“PM E-DRIVE is not the terminal scheme. Another scheme of which we will hold the launch shortly is the PM E-BUS SEVA Payment Security Mechanism scheme,” the secretary said. Continue reading “Working on Automotive Mission Plan 2047 to make India advanced industrial power: Official”

Source : PTI | The Delhi government will provide a 10-20% tax rebate to buyers of new vehicles who opt to scrap their old ones, according to a statement issued on Wednesday. Chief Minister Atishi has approved the incentive scheme to promote scrapping of old vehicles and it will be notified soon, the statement said.

“The government will incentivise those who opt for the scrapping of their old vehicles, through rebate in motor-vehicle tax on buying new vehicles within three years,” said the Delhi government statement. Continue reading “Delhi CM Atishi okays incentive scheme to promote scrapping of old vehicles”

MUNICH, (Reuters) – A recovery in Chinese and German truck markets will not come quickly, Martin Daum, the outgoing CEO of the world’s biggest truck maker Daimler Truck told a press event late on Tuesday.

He said he did not expect a recovery in the Chinese truck market this year or next, adding that China was in a deep crisis, according to remarks published on Wednesday. Continue reading “Outgoing Daimler Truck CEO sees no recovery in China and Germany”

COPENHAGEN, (Reuters) – Volvo Cars’ sales rose by 1% year-on-year in September to 62,458 cars, the Sweden-based automaker said on Wednesday amid a volatile and uncertain market.

Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that total sales in Europe, the biggest market for Volvo Cars, were up 23%, while sales in the United States and China fell by 22% and 16%, respectively. Continue reading “Volvo Cars reports slight sales increase amid market uncertainty”

Summary

• Tesla market share rises to 8.5% in 2024 from 7.8% in 2023
• Union strike targeting Tesla for almost 12 months
• Company found ways to circumvent blockades

STOCKHOLM, (Reuters) – Tesla has increased its market share in Sweden in 2024 despite a labour conflict targeting the company for almost a year, car sales data from the Nordic country showed on Tuesday. Continue reading “Tesla raises Sweden market share despite labour strike”

(Reuters) – Toyota Motor North America said on Tuesday it had built extra inventory of vehicles and parts ahead of the U.S. port strikes, which began earlier in the day.

Toyota, which relies on the U.S. East Coast and Gulf Coast ports to import everything from vehicle components to fully-built cars, said it was closely monitoring the situation. Continue reading “Toyota says built extra stock in anticipation of US port strikes”

BERLIN, Germany, (Reuters) – The criminal trial of former Volkswagen Chief Executive Martin Winterkorn over the so-called dieselgate scandal has been suspended due to his poor health, a court in Braunschweig said on Tuesday.

All hearings have been cancelled because Winterkorn, who was toppled from the helm of the company in 2015 after it emerged that millions of Volkswagen cars had been manipulated to pass environmental standards, will not be fit to attend in the coming months, the court said. Continue reading “Dieselgate trial of former VW chief suspended due to ailing health”

WASHINGTON, (Reuters) – About 20 Democrats in the U.S. Congress on Tuesday urged Mexican President-elect Claudia Sheinbaum to address national security concerns posed by internet-connected vehicles produced by Chinese automakers in Mexico.

All modern cars and trucks have onboard network hardware providing internet access that allows them to share data with devices both inside and outside the vehicle. Continue reading “US lawmakers ask Mexican president-elect to address Chinese vehicle concerns”

(Reuters) – Top U.S. automakers reported a fall in their third-quarter sales on Tuesday, hurt by fewer selling days and weaker consumer spending amid inflationary challenges and higher interest rates.

Carmakers have relied on crossovers and pickup trucks for years to drive the bulk of their sales, but that growth is starting to sputter as customers work with tighter budgets because of economic uncertainties. Continue reading “US new vehicle sales fall in Q3 on fewer selling days, inflationary headwinds”

WASHINGTON, (Reuters) – The U.S. National Highway Traffic Safety Administration said owners of 154,000 Jeep plug-in hybrid electric SUVs should park outside and away from buildings or other vehicles until they get recall repairs completed.

Jeep-parent Stellantis on Monday said it was recalling 194,000 Jeep Wrangler and Grand Cherokee plug-in hybrids worldwide – including 154,000 in the United States – after reports of 13 fires. NHTSA said there have been two injuries reported to date that may be tied to the recall issue. Continue reading “Jeep owners should park outside pending recall fix, US agency says”

Source : PTI | Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 % dip in total domestic passenger vehicle wholesales last month to 1,44,962 units compared to 1,50,812 units in the year-ago month.

The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.

Continue reading “Maruti, Hyundai, Tata Motors report decline in wholesales in Sep”

Source : PTI | New Delhi: Hero MotoCorp on Tuesday said its wholesales increased 19% year-on-year to 6,37,050 units in September. The two-wheeler major had dispatched 5,36,499 units to dealers in September 2023.

The company said its domestic sales rose to 6,16,706 units last month from 5,19,789 units in the year-ago period.

Continue reading “Hero MotoCorp sales rise 19% to 6,37,050 units in September”

Source : Sept 30 (Reuters) | Tesla (TSLA.O), and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker’s self-driving technology in order to boost its stock price.

U.S. District Judge Araceli Martinez-Olguin in San Francisco said shareholders failed to show Tesla and Musk should be liable for falsely promising they were close to delivering technology that would drive safer than humans, but that was actually “plagued with safety issues” and encouraged inattentiveness.

Tesla vehicles have included “Autopilot” software designed to enhance self-driving capabilities, and the company has sold “Full Self Driving” software upgrades.

Continue reading “Tesla, Musk beat shareholder lawsuit over self-driving promises”

Source : Sept 30 (Reuters) | Tesla (TSLA.O) is expected to report an 8% jump in third-quarter deliveries of its electric vehicles on Wednesday, Wall Street estimates show, driven by extended incentives and lucrative financing plans in the world’s largest auto market, China.

Responding to sluggish Chinese spending amid flagging economic growth and rising competition from domestic Chinese players such as BYD (002594.SZ), Tesla introduced a range of offers this spring, including insurance deals, discounts on certain paint choices and a zero-interest loan of up to five years. Continue reading “Tesla’s quarterly deliveries set to rise as China incentives lure wary EV buyers”

Source: PTI | The Uttar Pradesh government is set to roll out a fleet of electric buses, including several double-decker ones, for enhanced commuting experience while reducing pollution. The double decker buses, which will be able to accommodate 65 passengers at a time, will start operating in capital city Lucknow during the upcoming Navratri festival. Continue reading “UP to cut pollution with fleet of electric buses”

Source: PTI | Tata Steel-owned Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of “legacy” steelmaking as the UK’s largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel. Continue reading “Tata Steel ends ‘legacy steelmaking’ at Britain’s largest steelworks”

Source : NEW DELHI, Sept 30 (Reuters) – India and the United States are likely to sign an initial pact for cooperation on critical minerals this week, two Indian government sources said, as the two countries try to bolster trade ties despite diplomatic hiccups.

They are expected to sign an agreement to partner and cooperate in the area of critical minerals during Indian trade minister Piyush Goyal’s visit to Washington, the sources said. Continue reading “India, US likely to sign pact on critical minerals, sources say”

Source : Sept 30 (Reuters) – Aston Martin (AML.L) warned of lower annual profit and cut its production forecast on Monday on supply chain challenges and dogged weakness in China, sending shares as much as 28% lower and raising questions around its future ambitions. Continue reading “Aston Martin drops 28% after profit warning on supply chain, China woes”

Source : PARIS, Sept 30 (Reuters) – Stellantis cut its 2024 profit forecast on Monday and warned it will burn through more cash than expected as Europe’s No.2 carmaker pledged to reduce output and offer big discounts to revive its U.S. business, wiping billions off its market value. Continue reading “Stellantis cuts 2024 profit outlook as US sales crisis deepens”

Source: MILAN, Sept 30 (Reuters) – European auto stocks tumbled almost 4% on Monday after a warning from Stellantis, Volkswagen and Aston rekindled concerns over the sector’s earnings outlook in a year marred by slowing demand and aggressive Chinese competition. Continue reading “European autos stocks wipe off $10 bln after Stellantis warning”

Source : DETROIT, Sept 30 (Reuters) – Ford (F.N), is trying to woo the electric vehicle-curious by offering free home chargers and installation to buyers of EVs through the end of the year, the company said on Monday.

As automakers try to energize sagging EV demand, they’ve focused on improving access to chargers, along with addressing concerns around price and battery range. Continue reading “Ford to offer free chargers to EV buyers through year-end”