(Reuters) – Volvo Cars has reappointed Hakan Samuelsson, who served as CEO of the company from 2012 to 2022, as chief executive, after the group warned last month that it could be in for a challenging 2025.
Samuelsson, 74, will succeed Jim Rowan, who will step down on March 31. Samuelsson will serve a two-year term while the group prepares to appoint a long-term successor, it said in a statement on Sunday. Continue reading “Volvo Cars brings back veteran Hakan Samuelsson as CEO”
Tata AutoComp Systems Limited, (“TATAAUTOCOMP”), a leading Indian automotive components manufacturer, has entered into definitive agreements to acquire up to 80% shareholding of Artifex Interior Systems Limited (formerly known as IAC UK).
On completion of this transaction, Artifex, with revenue of GBP 296 million (FY24-25), will join the TATA AutoComp family. Completion of the acquisition is subject to customary closing conditions and approvals. TACO has purchased the majority shareholding from Jaguar Land Rover Ventures Limited, a subsidiary within the Jaguar Land Rover Automotive plc group, which is part of Tata Motors Limited. Continue reading “Tata Autocomp announces acquisition of Artifex Interior Systems Limited”
Summary
LONDON/WHITE LAKE, Michigan, (Reuters) – Major automakers can deal with President Donald Trump’s tariffs on U.S. auto imports in a number of ways, but all of them lead to higher prices, fewer choices of models or limits on features for consumers, industry experts said. Continue reading “US car buyers face higher prices, less choice under Trump’s tariffs”
Source : PTI | The US has imposed additional import duties on steel and aluminium and the government is evaluating its impact, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said there has been the imposition of these duties on steel and aluminium imports by the US from all countries without any exemption.
“The impact of these duties which are an enhancement over existing such additional duties is being closely evaluated due to the fact that there are no exemptions as compared to exemptions earlier to certain major exporting countries in this sector,” he said.
Continue reading “US Imposes additional tariffs on steel and aluminium : Govt”
Source : PTI | US President Donald Trump’s decision to slap a 25 per cent tariff on all auto imports has cast uncertainty over India’s nearly USD 7 billion of exports to America, which industry fears could squeeze margins. Automobiles and car parts imported to the US would face a 25 per cent tariff starting April 2.
While India is not a big exporter of cars to the US, Tata Motors’ luxury car subsidiary Jaguar Land Rover (JLR) is deeply entrenched in the American market. About 23 per cent of JLR’s over 4,00,000 units sold in FY24 were in the US. These were all exported from its UK plants. Continue reading “Trump’s 25% auto tariffs cast uncertainty over India’s $7 bn component exports”
Summary
OTTAWA/BERLIN, (Reuters) – Canadian Prime Minister Mark Carney said on Thursday that he would respond with unspecified trade actions if U.S. President Donald Trump imposes new auto tariffs that have expanded a global trade war and hammered stocks. Continue reading “Canada will respond to Trump auto tariffs with its own trade actions”
Summary
TOKYO, (Reuters) – Toyota Motor said on Friday its global production rose for the second consecutive month in February, driven by higher output and stronger sales in Japan after recovering from a certification scandal in its home market last year. Continue reading “Toyota’s global output rises for second month in February on solid Japan sales”
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Summary
Mumbai: Volkswagen India has today opened pre-bookings for the highly anticipated all-new Tiguan R-Line, bringing this global best-seller from the brand closer to Indian customers. Customers can secure their pre-bookings at Volkswagen dealerships nationwide or through the company’s official website. In addition, the company has also commenced accepting customer interest for the Golf GTI on its official website. The launch of these iconic models in India, underscores the brand’s commitment to delivering advanced and global cars for Indian customers that embody superior engineering, performance and innovation. Continue reading “Volkswagen India commences pre-bookings for the all-new Tiguan R-Line, launching in April 2025”
(Reuters) – U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.
Here is some global reaction.
“Important to note that Tesla is not unscathed here. The tariff impact on Tesla is still significant. Continue reading “Trump’s 25% car tariff ignites international criticism”
Summary
BERLIN/DETROIT, (Reuters) – The United States’ announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global vehicle suppliers warned of immediate price hikes and dealers raised fears of job losses in countries with a large car industry. Continue reading “Planned US auto tariffs shake global industry as price hikes, job losses loom”
Summary
WASHINGTON/TOKYO/BERLIN, (Reuters) – Governments from Ottawa to Paris threatened retaliation on Thursday after U.S. President Donald Trump unveiled a 25% tariff on imported vehicles, expanding a global trade war, hammering stocks and testing already strained ties with allies. Continue reading “Trump auto tariffs: President slaps 25% duties on car imports to US”
Source : PTI | French tyre major Michelin is seeking continuity in passenger vehicle tyre imports into India till production ramps up at its upcoming Chennai-based plant over the next few years, according to CEO Florent Menegaux. The Clermont-Ferrand-based firm, which reported a revenue of 27.2 billion euro last year, is in talks with the Indian government to extend its import licence for passenger vehicle tyres till the time local production matures in the country.
The company is setting up production capacity for passenger vehicle tyres at its Chennai facility at an investment of Rs 564 crore. Continue reading “Looking at import continuity for PV tyres till production ramps up at Chennai plant: Michelin CEO”
Source : PTI | A total of 25,000 km of two-lane highways in the country will be converted into four lanes for ₹10 lakh crore, and it will help reduce accidents on the roads significantly, Union Road Transport and Highways Minister Nitin Gadkari said in Lok Sabha on Thursday. Gadkari also said that 16,000 km of national highways will also be converted into six lanes for ₹6 lakh crore.
‘We are planning to convert 25,000 km of two-lane highways into four-lane highways at a cost of ₹10 lakh crore. The DPRs (detailed project reports) of the projects are getting ready and we are hopeful to complete the work in two years,’ he said during Question Hour. Continue reading “India to expand 25,000 km of highways to four lanes for enhanced road safety”
(Reuters) – Tesla CEO Elon Musk said on Wednesday that the impact of U.S. President Donald Trump’s auto tariffs on Tesla is “significant.”
“Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant,” Musk said in a post on X. Continue reading “Musk says impact of auto tariffs on Tesla is ‘significant’”
Summary
WASHINGTON, (Reuters) – U.S. President Donald Trump on Wednesday announced25% tariffs on auto and auto parts after concluding that automotive imports continue to threaten the country’s industrial base and national security. Continue reading “Trump uses 2019 national security probe to justify tariffs on auto imports”
Summary
OTTAWA, (Reuters) – Canada will soon respond to new tariffs on imported vehicles announced by U.S. President Donald Trump and could impose retaliatory measures against the United States, Prime Minister Mark Carney said on Wednesday. Continue reading “Canada will react to Trump’s ‘attack’ soon, could impose tariffs, says Carney”
(Reuters) – U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.
Here are some reactions to the ruling. Continue reading “Reactions to Trump auto tariffs”
Summary
DETROIT/WASHINGTON, (Reuters) – U.S. automakers and their global rivals were rocked on Wednesday by President Donald Trump’s announcement that he would impose 25% tariffs on all vehicles and foreign-made auto parts imported into the United States. Continue reading “Auto industry rocked by Trump’s 25% tariffs on US imports”
Summary
WASHINGTON/TOKYO, (Reuters) – Asian auto stocks led markets lower on Thursday after U.S. President Donald Trump unveiled a 25% tariff on imported vehicles, expanding a global trade war and prompting criticism and threats of retaliation from affected U.S. allies. Continue reading “Trump auto tariffs: President slaps 25% duties on car imports to US”
(Reuters) – U.S. videogame retailer GameStop said on Tuesday it would include bitcoin as a treasury reserve asset to diversify its corporate holdings, betting on the world’s biggest cryptocurrency to help turnaround its struggling primary business.
U.S. President Donald Trump had signed an executive order earlier this month to establish a strategic bitcoin reserve using tokens already owned by the government. Continue reading “Cryptocurrency holdings of US companies”
ANKARA/BEIJING, (Reuters) – Turkey said on Wednesday that Chery Automobile’s partners will invest $1 billion in a manufacturing facility in the country with an annual capacity to produce 200,000 vehicles a year.
The Chinese company, one of the world’s top automakers, immediately issued a statement denying that it planned to build a factory in Turkey. Continue reading “Turkey says Chery Auto’s partners to invest $1 bln in plant to make 200,000 cars/year”
Summary
WASHINGTON, (Reuters) – The European Union’s trade commissioner Maros Sefcovic met with U.S. President Donald Trump’s top trade officials on Tuesday to try to avoid steep U.S. tariffs on EU goods next week, but results of the talks were unclear. Continue reading “EU trade chief meets with Trump officials to try to head off ‘harmful’ tariffs”
Summary
(Reuters) – Tesla’s market share in Europe continued to shrink in February as sales of the all-electric car maker dropped for a second month even as EV registrations overall on the continent grew. Continue reading “Tesla’s sales and market share in Europe drop again in February”
SYDNEY/BEIJING, (Reuters) – Chinese battery giant CATL said it had received approval from China’s securities regulator for a share sale in Hong Kong that sources have said could raise at least $5 billion, the largest listing in the city for four years.
The Shenzhen-listed firm plans to issue not more than around 220 million shares on the Hong Kong Stock Exchange, it said in a statement on Tuesday. Continue reading “China’s CATL Hong Kong listing approved, sources say it could raise at least $5 billion”
Summary
BERLIN, (Reuters) – Porsche SE Volkswagen’s largest shareholder, is eyeing defence and infrastructure as possible new long-term investment areas, it said on Wednesday, adding there were no plans to sell shares in Volkswagen or Porsche AG. Continue reading “Volkswagen shareholder Porsche SE eyes defence, infrastructure for new investments”
Summary
RIYADH, (Reuters) – Tesla will start sales in Saudi Arabia next month, the electric carmaker said on its website, signalling CEO Elon Musk and the kingdom have healed a rift that dates back to the billionaire’s short-lived bid in 2018 to take the company private. Continue reading “Tesla to launch in Saudi Arabia as Musk and the kingdom mend relations”
Source : PTI | Goldman Sachs on Tuesday bought shares of auto components major Samvardhana Motherson International for Rs 87 crore through an open market transaction. American multinational Goldman Sachs through its arm — Goldman Sachs (Singapore) Pte — purchased 65.48 lakh shares of Samvardhana Motherson International, as per the block deal data on the BSE.
The shares were picked up at an average price of Rs 132.7 apiece, taking the transaction value to Rs 86.90 crore. Continue reading “Goldman Sachs buys Samvardhana Motherson International’s shares for Rs 87 cr”
Source : Union Minister Nitin Gadkari on Tuesday said the Vehicle Scrapping Policy is expected to reduce the prices of auto components by 30 per cent, which may reduce the rate of vehicles to benefiting consumers. The Minister for Road, Transport and Highway made the remarks while addressing the Times Drive Auto Awards 2025 in the national capital.
The demand for EVs will grow as the government is taking various steps to improve the charging infrastructure in cities and on highways, he noted. Continue reading “Vehicle Scrapping Policy may reduce auto component prices by 30% : Gadkari”
WASHINGTON, (Reuters) – FBI Director Kash Patel said on Monday the bureau was probing what he called “the increase in violent activity toward Tesla,” adding the bureau had taken steps in recent days to crackdown on such incidents.
“The FBI has been investigating the increase in violent activity toward Tesla, and over the last few days, we have taken additional steps to crack down and coordinate our response. This is domestic terrorism. Those responsible will be pursued, caught, and brought to justice,” Patel said in a post on X. Continue reading “FBI says it is probing ‘increase in violent activity toward Tesla’”
SEOUL, (Reuters) – South Korea’s Hyundai Steel will invest $5.8 billion along with Hyundai Motor Group to build a plant in Louisiana in the United States with an annual capacity of 2.7 million tonnes, the company said in a regulatory filing on Tuesday.
This is part of Hyundai Motor’s $21 billion investment in the United States, which was announced by the company on Monday with President Donald Trump at the White House. Continue reading “Hyundai Steel to build plant in Louisiana with annual output of 2.7 million tonnes”
BEIJING, (Reuters) – Tesla said on Monday it would release its smart driving-assistance feature in China after completing regulatory approval, following complaints that a limited-time free trial of its Full Self-Driving service had been temporarily paused.
“All parties are actively advancing the relevant process and we will push it to you as soon as it is ready. We are also looking forward to it, please wait patiently,” Tesla’s customer support said on social media platform Weibo. Continue reading “Tesla halts driving-assistance software trial in China, pending approval”
(Reuters) – Tesla shares surged 10% on Monday after this year’s steep decline following reports the Trump administration is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2.
Traders also took advantage of the near 40% decline in the stock so far this year to buy into the EV maker. Continue reading “Tesla jumps as possible tariff leeway, lower share price draw investors”
BEIJING, (Reuters) – Chinese electric vehicle maker BYD’s net profit leapt 73.1% in the fourth quarter of 2024 to a record 15 billion yuan ($2.1 billion), it said on Monday, reaping the rewards of lower prices and higher sales than rivals.
Fourth-quarter revenue was up 52.7% at 274.9 billion yuan, the company said in a stock market filing. Continue reading “Chinese EV giant BYD’s fourth-quarter profit leaps 73%”
WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration is investigating nearly 1.3 million Ford F-150 pickup trucks in the United States over reports of an unexpected gear downshift accompanied by a temporary rear wheel lock-up.
NHTSA said Monday it is opening a preliminary evaluation into some Ford F-150 pickup trucks from the 2015 to 2017 model years after receiving complaints from 138 consumers. Continue reading “US opens probe into nearly 1.3 million Ford F-150 trucks over unexpected gear shift”
DETROIT,(Reuters) – Jeep-maker Stellantis is offering a new round of buyouts for some of its U.S. factory workers as the automaker looks to cut costs following a difficult 2024.
The automaker confirmed on Friday that it is offering voluntary buyouts to some workers at facilities in Detroit, Ohio and Illinois. Continue reading “Stellantis initiates new round of buyouts for some US factory workers”
Summary
SAN FRANCISCO, (Reuters) – Motorists have traded in a record number of Tesla electric vehicles this month, Edmunds data showed, amid a wave of protests against CEO Elon Musk’s work as an adviser to U.S. President Donald Trump. Continue reading “Exclusive: Tesla trade-ins on pace for record high amid Musk backlash”
Summary
WASHINGTON, (Reuters) – The head of the U.S. Secret Service met with General Motors executives this week in Michigan to discuss next-generation armored SUVs as the automaker works on the upcoming version of the presidential limousine, the agency said Friday. Continue reading “US Secret Service meets with GM execs on next-generation armored SUVs”
Source : PTI | The government on Thursday said 12.55 lakh refunds were made in 2024 for faulty toll collections on National Highways. In a written reply to the Lok Sabha, Union Road Transport and Highways Minister Nitin Gadkari said penalties of more than Rs 2 crore have been levied so far on the user fee collecting agencies for incorrect user fee deduction cases.
“National Payment Corporation of India (NPCI), which provides the Central Clearing House (CCH) services of National Electronic Toll Collection (NETC) Programme, has reported 12.55 lakh transactions where refunds were made due to incorrect user fee (toll) deductions in the year 2024 out of a total of 410 crore FASTag transactions in the same year which represents 0.03 per cent of all FASTag transactions,” Gadkari said. Continue reading “Govt says 12.55 lakh refunds made for faulty toll collection on NH in 2024”
Source : PTI | The Heavy Industries Ministry has directed Automotive Research Association of India (ARAI) to probe the mismatch between Ola Electric’s reported sales figures and actual vehicle registrations along with numerous consumer complaints against the Bhavish Aggarwal-owned electric two-wheeler maker and submit a report within 15 days, sources said. While the total number of registrations by Ola Electric on the Vahan portal for February stood at 8,652, the company had reported sales of over 25,000 units during February 2025. As of March 20, the company’s registrations stood at 11,781 on the Vahan portal.
Ola Electric is a beneficiary of the FAME II and PM E-DRIVE schemes and its eligibility certificate has been provided by ARAI, a certification and testing agency under the administrative control of the ministry. Continue reading “Govt asks ARAI to probe Ola Electric’s sales figure mismatch, consumer complaints”
