Summary

• Guides for revenue growth, cash generation in 2025
• Sees mid-single digit adjusted EBIT margin this year
• Burnt through cash of 6 billion euros last year
• Proposes a 0.68 euro/share dividend
• Adjusted EBIT fell 98% in second half to 185 million euros

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

• Delays first BEV launch to latter part of the decade
• Says tariffs, China continued risks
• Shares down more than 9% at 100 pence
• Stock on course for worst day in almost five months

(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”

• CarDekho’s integrated ecosystem, offering advertising, lead management, and digital content solutions, aims to enhance the car-buying experience for UAE consumers
• The company aims to bridge the gap between digital platforms and physical dealerships in the UAE
• The expansion follows the company’s ventures in the Southeast Asia region
• The platform’s AI-driven insights and lead management systems aim to meet the evolving preferences of UAE car buyers

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

• Tesla owners say update falls short of expectations
• Elon Musk has said bringing FSD to China has been tricky
• Delays have left Tesla lagging behind Chinese rivals

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

• India to limit investment in charging infrastructure at 5% – document
• Charging cap to focus investment in manufacturing – source
• Government expected to finalise EV policy next month – source
• Tesla picks showroom space in Mumbai, Delhi

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

• Stellantis operates 14 brands, more than major rivals
• Chairman Elkann steering while search for new CEO goes on
• Slumping sales, margins led to ouster of CEO Tavares
• Company will report full-year results on Wednesday

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

• India to limit investment in charging infrastructure at 5% – document
• Charging cap to focus investment in manufacturing – source
• Government expected to finalise EV policy next month – source
• Tesla picks showroom space in Mumbai, Delhi

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

• US negotiators told Ukraine US could shutoff Starlink if minerals deal not reached
• SpaceX-owned satellite internet service vital for Ukraine
• Zelenskiy says U.S. and Ukraine working on an agreement

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

• Japanese group draws up plans for Tesla to invest in Nissan, FT says
• Japanese group hopes Tesla will become a strategic investor in Nissan,
• Taiwan’s Foxconn proposes to partner up with Honda, Nikkei says

(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

• Europe’s carmakers vulnerable to Trump tariff threats
• Audi to bring key cars for U.S. market to North America – CEO
• Mercedes to boost output in Alabama
• Big three German carmakers accounted for 73% of EU car exports to U.S. last year

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”

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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.

Continue reading “Won’t stop any consignment of Volkswagen unit over USD 1.4 billion tax demand: Customs department to Bombay HC”

Summary

• Lumber could see 25% tariffs in early April
• Trump sees tariffs raising big revenues

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

• Operating profit up 3.5% vs 2023
• Revenue rises 7.4%, well ahead of forecast
• Net income hit by lower Nissan contributions
• EU emissions rules to reduce 2025 profit by 500 mln euros- CFO

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

• Cuts India sales target to 2.5 mln from 3 mln by FY2030
• Scales back planned EV launches in India to four from six
• Severe India competition prompts paring of sales target

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

• Launching 19 combustion engine and 17 EVs by 2027
• Carmaker expects significantly lower earnings in 2025
• Plans 10% cut to production costs by 2027, 20% by 2030Not closing plants in Germany – CFO

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

• Some 86% of firms see Trump’s policies as harmful to business environment – Reuters Japan Corporate Survey
• Respondents see Trump tariffs as most damaging aspect of policy
• More than 40% of firms expect Japan interest rate rise to 1% to undermine capital spending – survey

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

• Nikola looks to wind down operations
• EV maker latest to go bankrupt in the sector
• Market valuation tumbles to under $50 million from peak of $27 billion

(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

• OSHA cites Tesla for workplace safety violations in worker’s death
• Gomez’s family has filed wrongful death lawsuit against Tesla
• U.S. Represenative Casar urges release of full investigation results

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”

Summary

• Northvolt sells unti to truckmaker Scania
• Companies decline to disclose sale price
• Unit was earmarked for sale by end-2024
• Northvolt’s available cash soon running out

STOCKHOLM, (Reuters) – Sweden’s Northvolt has agreed to sell a business that makes electric battery packs for heavy industry, one of its few profitable units, to its customer and partner Scania, the two companies said on Tuesday, as the battery maker’s restructuring inches forward. Continue reading “Northvolt sells heavy industry battery business to truckmaker Scania”

BEIJING, (Reuters) – China’s electric vehicles are around three to five years ahead of the competition in terms of products, technology and the industrial chain, BYD’s CEO Wang Chuanfu said in an interview with China’s national television broadcaster.

Wang was interviewed on Monday after Chinese President Xi Jinping’s symposium with some of the biggest names in China’s technology sector. Wang was among the business leaders who spoke at the meeting. Continue reading “China’s electric vehicles are around 3-5 years ahead, BYD CEO says”

NEW DELHI, (Reuters) – Tesla has selected locations for two showrooms in the Indian cities of New Delhi and Mumbai, moving closer to its long-delayed plans to sell its electric cars in the country, sources familiar with the matter said.

The U.S. carmaker has been hunting for showroom space in India since late last year in order to start sales in the world’s third biggest auto market, after putting market entry plans on hold in 2022. Continue reading “Tesla picks showroom sites in New Delhi, Mumbai to start India sales, sources say”

Summary

• About 1,650 of Ford’s middle managers to miss stock bonuses
• Move aims to improve employee performance, says Ford spokesperson
• Ford’s stock fell 23% over last 12 months, lagging behind GM’s performance

DETROIT, (Reuters) – Some middle managers at Ford Motor will not get stock bonuses this year in what is seen internally as CEO Jim Farley’s latest attempt to cut the automaker’s bloated costs, according to six people familiar with the matter. Continue reading “Exclusive: Ford slashes manager stock bonuses to cut costs, boost performance”

WASHINGTON, (Reuters) – The Federal Aviation Administration fired fewer than 400 employees out of its workforce of 45,000, Transportation Secretary Sean Duffy said on Monday, as questions rise around air traffic safety amid a spate of recent plane accidents.

Duffy posted the number of layoffs in a social media post message on X, formerly known as Twitter, responding to a post by his Democratic predecessor Pete Buttigieg, who has been critical of the Trump administration’s Department of Transportation. Continue reading “FAA fires fewer than 400 workers, transportation chief says”

Summary

• Bill limits shareholder lawsuits, access to internal records
• Companies consider leaving Delaware due to legal concerns
• State’s corporate court has come under attack by Musk

WILMINGTON, Delaware, (Reuters) – Delaware lawmakers on Monday proposed changes to the U.S. state’s widely used corporate law that would limit shareholder lawsuits after several high-profile companies said they might move their legal home to another state. Continue reading “Delaware bill would limit investor lawsuits as companies threaten to leave the state”