Source : PTI | India’s used car market is expected to double to around $70 billion by 2031 from $35 billion in the last financial year, accelerated by a mix of factors such as rising affordability and faster replacement cycles, among others, making it one of the most attractive markets globally, a report said on Thursday.

The country which currently stand at 5th position in terms of used car markets is globally and is projected to become the 3rd largest by the end of this decade, trailing only the US and China, strategy consulting firm Redseer said in a study report. Continue reading “India used car market expected to double to $70 billion in five years: Report”

Summary

• Monitor cites governance failures and lack of investment oversight at UAW
• Monitor disputes $80 million loss figure, calling union’s calculation exaggerated
• Union says it disagrees with some findings but it has adopted the monitor’s recommendations

(Reuters) – A federally appointed monitor overseeing the United Auto Workers found “multiple points of breakdown” in a delayed investment of union funds that ​could have cost the labor group millions in unrealized stock gains.

Reuters first reported last June that the union’s leadership was in turmoil over an ‌alleged investment blunder that officials said at the time cost the UAW about $80 million in potential gains from its financial portfolio. Continue reading “Federal monitor flags ‘dysfunction’ in UAW’s management of investments”

LONDON, (Reuters) – Registrations of Tesla cars continued to rebound in France, Denmark and the Netherlands in April, but ​fast-moving Chinese rivals such as BYD kept chipping away ‌at the U.S. electric vehicle maker’s market share.

Tesla’s sales have recovered strongly in Europe this year after two consecutive annual declines, including a drop ​of nearly 27% in 2025. Continue reading “Tesla sales rebound continues in several European markets in April”

SHANGHAI, (Reuters) – Chinese EV giant ​BYD’s vehicle sales fell for an eighth straight month ‌in April, down 15.5% from a year earlier and extending its longest-ever downturn as it struggles with weak demand at home.

Overseas ​sales of passenger vehicles and pickup trucks, increasingly a ​source of growth for BYD, jumped 35% to ⁠130,000 vehicles last month, according to Reuters calculations based ​on a Weibo post by BYD executive Li Yunfei. Continue reading “BYD’s sales downturn extends to eighth straight month”

Summary

• Pentagon partners with seven AI firms, excluding Anthropic
• Staff reluctant to drop Anthropic, citing tool superiority despite Pentagon ban
• Pentagon expands AI partnerships to avoid overreliance on single vendor

WASHINGTON, (Reuters) – The Pentagon said on Friday it had reached agreements with seven AI companies to deploy their advanced ‌capabilities on the Defense Department’s classified networks as it seeks to broaden the range of AI providers working across the military.

The statement excludes Anthropic, which has been in dispute with the Pentagon over guardrails on the military’s use of its artificial intelligence tools. Continue reading “Pentagon reaches agreements with top AI companies, but not Anthropic”

Summary

• Trump cites EU non-compliance with trade deal as reason for tariff hike
• EU officials criticize move as arbitrary, warn of firm response
• Economist calls on Brussels, Berlin to ‘finally show some backbone’
• Shares of Ford, Stellantis, GM down after tariff announcement

WASHINGTON, (Reuters) – U.S. President Donald Trump said on Friday he would increase tariffs on cars and trucks from the European Union to 25% next week from the previously agreed 15%, saying ​the bloc had not complied with its trade deal with Washington.

The move drew sharp rebukes from European politicians and trade groups, with one European economist calling on Brussels and the German government to “finally show some backbone” and ‌impose retaliatory tariffs. Continue reading “Trump says he will raise tariff on autos from European Union to 25%”

BRUSSELS, (Reuters) – U.S. President Donald Trump’s ​announcement to increase tariffs on cars from ‌the EU shows that the U.S. is an unreliable trading partner, EU parliament’s ​trade committee chair Bernd Lange said ​on Friday.

“This latest move demonstrates just ⁠how unreliable the U.S. side ​is,” Lange said. “This is no way to ​treat close partners. Now we can only respond with the utmost clarity and firmness, drawing ​on the strength of our ​position.” Continue reading “Trump’s tariffs on EU autos show US to be unreliable, says EU parliament’s trade committee chair”

Mumbai, May 1, 2026: Tata Motors Passenger Vehicles Ltd. sales in the domestic & international market for April 2026 stood at 59,701 units, compared to 45,532 units during April 2025.

  Continue reading “Tata Motors Passenger Vehicles Ltd. registered total sales of 59,701 units in April 2026”

Bangalore, 01^st May 2026: Toyota Kirloskar Motor (TKM) today announced its sales performance for the month of April 2026 with 32,086 units, reflecting a growth of 17% compared to 27,329 units sold in April 2025. This includes 30,159 units sold in the domestic market and 1,927 units exported.

April 2025 VS April 2026 [Y-O-Y]

Continue reading “Toyota Kirloskar Motor Registers 32,086 Units Sales in April 2026”

Source : PTI | New Delhi: The government has cut the windfall gains tax on the export of diesel to ₹23 per litre and aviation turbine fuel to ₹33/litre, effective Friday.

The finance ministry, in a statement, said there will be no change in existing excise duty rates on petrol and diesel for domestic consumption.

Continue reading “Excise duty on diesel exports cut to ₹23/ltr”

(Reuters) – Ford is recalling 179,698 ​vehicles in the U.S. ‌due to a loose bolt in ​the front seat ​frame, the U.S. National ⁠Highway Traffic Safety ​Administration (NHTSA) said on ​Friday.

The recall includes certain 2024-2026 Ranger and Bronco vehicles. Continue reading “Ford recalls about 180,000 vehicles over loose bolt in front seat frame, NHTSA says”

(Reuters) – Harley-Davidson is ​recalling 88,039 ‌motorcycles in the U.S. ​due ​to an airbox ⁠backplate ​breather port ​that may be blocked, allowing ​pressure ​to build up ‌inside ⁠the crankcase, the U.S. ​National ​Highway ⁠Traffic Safety Administration (NHTSA) ​said ​on ⁠Friday. Continue reading “Harley-Davidson recalls around 88,000 motorcycles over Airbox Baseplate issue, NHTSA says”

(Reuters) – Elon Musk testified for more than seven hours over three days this week at a trial in Oakland, California, over the future of OpenAI, casting his lawsuit against the owner of ChatGPT as a defense of the institution of charitable giving.

Musk, the CEO of Tesla and SpaceX as well as the world’s richest person, is also ​suing OpenAI’s Chief Executive Sam Altman and its President Greg Brockman, saying they betrayed him and the public by abandoning the mission to be ‌a benevolent steward of AI for humanity. Continue reading “Key takeaways from Musk’s testimony at OpenAI trial”

(Reuters) – Magna International topped analysts’ estimates for first-quarter sales and profit on Friday, ​helped by stronger foreign exchange and ‌resilient demand for its auto parts.

Demand for auto parts and advanced driver-aid systems has held ​up, although the end of certain ​programs and lower vehicle production weighed on ⁠overall sales in the first quarter. Continue reading “Magna tops quarterly profit, sales estimates on auto parts demand”

Summary

• Rivian plans to draw DOE loan in early 2027
• Posts narrower loss, revenue beat in Q1
• Uber robotaxi deal and Volkswagen partnership aim to drive future growth

(Reuters) – Rivian said on Thursday it will get up ​to a $4.5 billion loan from the U.S. Department of Energy, about $2 billion lower than previously approved, to build its ‌plant in Georgia and will draw the funds earlier than planned in 2027.

Access to the loan will be crucial for the electric-vehicle maker, which like many of its peers has been burning cash, as it starts building the Georgia plant and equips it to expand production of the smaller and more affordable R2 ​SUVs, seen as critical for the company’s success. Continue reading “Rivian says US loan for Georgia plant set to be smaller but quicker”

Summary

• Toyota forecast to post $5.2 billion Q4 operating profit
• Middle East conflict drives up aluminium prices, disrupts shipments and regional sales
• Analysts, suppliers warn of further profit risks from higher input costs this year

TOKYO, (Reuters) – Toyota is expected to report a fourth successive year-on-year decline in quarterly operating profit ​next week, as rising material and labour costs and the impact of U.S. tariffs offset strong demand, particularly for hybrid vehicles.

The world’s ‌biggest automaker is forecast to post operating profit of 813 billion yen ($5.17 billion) for the January-March quarter, down 27% from a year earlier, according to the median estimate of seven analysts surveyed by LSEG. Continue reading “Toyota to post fourth straight quarterly profit drop as Middle East risks, costs mount”

Revamped product portfolio and an expanding network continue sequential strong growth momentum for the 2^nd consecutive quarters.

New Delhi, May 01, 2026: Renault India, a wholly owned subsidiary of the French automaker Renault Group, has started FY 2027 on a strong note, registering an impressive year-on-year growth of 108% in April 2026. The company recorded total domestic wholesales of 5,413 units, more than doubling from 2,602 units sold in April 2025. Continue reading “Renault India sales doubles in April at 5413 units”

New Delhi, 30 April, 2026 – Tsuyo Manufacturing, a leading integrated electric vehicle (EV) powertrain company, today announced the grant of additional two breakthrough motor technology Patents, marking another significant milestone in its innovation-led journey and reinforcing its position as a global deep-tech player in EV systems.

The newly granted patents include:

• Non-Magnetic Bridge Assisted Synchronous Reluctance Electric Motor
• Fault-Tolerant Five-Phase Interior Permanent Magnet Motor with Dual Inverter Control

Continue reading “Tsuyo Manufacturing Secures Two Global-First EV Motor Patents, Strengthening India’s Deep-Tech Powertrain Capabilities”

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Source : PTI | The Odisha government has requested the Centre to set up 190 EV charging infrastructure across 190 locations in six key cities under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme, officials said on Wednesday.

The State Transport Authority (STA) under the Commerce and Transport Department has submitted a proposal to the Ministry of Heavy Industries in this regard.

Continue reading “Odisha urges Centre to set up 190 EV charging stations in six cities under PM E-Drive Scheme”

Source : PTI | The Delhi government has notified an increase in the environmental compensation charge (ECC) on commercial vehicles entering the national capital, Environment Minister Manjinder Singh Sirsa said on Wednesday, calling it a major step in the fight against air pollution.

According to an official statement, the decision follows directions of the Supreme Court and is based on recommendations of the Commission for Air Quality Management to restore the deterrent value of the charge and discourage polluting commercial vehicles from entering Delhi. Continue reading “Higher environmental compensation charge notified for commercial vehicles entering Delhi”

(Reuters) – Royal Caribbean cut annual ​profit forecast on Thursday, signaling that ‌surging fuel costs linked to ongoing tensions in the Middle East are weighing on the ​cruise operator’s margins.

Cruise operators, heavily dependent ​on fuel oil and marine gas ⁠oil, are navigating a tougher environment as ​stalled U.S.-Iran negotiations raise concerns about prolonged disruptions ​to the Middle Eastern supply, driving up oil prices. Continue reading “Royal Caribbean cuts annual profit forecast, sees higher fuel costs”

Summary

• Adjusted EBIT rose to 960 million euros in first quarter
• Company expects 400-million-euro relief on US tariffs
• Q1 industrial free cash flow negative for 1,9 bln euros
• New long term business plan to be unveiled on May 21

MILAN, (Reuters) – Stellantis reported a near tripling in first-quarter adjusted operating income ‌on Thursday, helped by U.S. tariff refunds, but a disappointing cash flow result sent shares in the Franco-Italian carmaker sharply lower.

The results underscore the challenges still facing Chief Executive Antonio Filosa, who was appointed last year to revive the automaker after several quarters of ​falling sales. Continue reading “Stellantis sinks on weak cash flows as tariff refunds lift profit”

Summary

• Automakers log expected tariff refunds, boosting paper Q1 profits
• Ford, GM, Mercedes-Benz, Stellantis among first to estimate anticipated reimbursements
• Companies’ refund requests could risk Trump blowback

DETROIT/BERLIN, (Reuters) – Some automakers this week got a first-quarter profit boost – at least on paper – from future refunds of tariff ​payments they made to the U.S. government, risking potential ire from U.S. President Donald Trump.

Companies that were hit with import duties began applying for refunds ‌last week, following a February U.S. Supreme Court ruling that struck down some of the Trump administration’s tariffs. A total of up to $166 billion in reimbursements is due to importers who paid tariffs in a process that could take several months, with the auto industry among the hardest-hit sectors by Trump’s tariff regime. Continue reading “Carmakers bank on $2.3 billion in future tariff refunds, risking Trump’s ire”

Summary

• Highest-ever annual domestic and export sales volume, Net Sales and Net Profit.
• Net Sales crosses INR 50,000 crore milestone for the first time in Quarter 4.
• Top exporter for the 5th consecutive year, contributing 49% of total passenger vehicle exports from India.
• Exports of made-in-India e VITARA, our first BEV, reach 44 countries.
• Highest-ever dividend of INR 140 per share.

New Delhi: The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the year ended 31st March 2026.

This performance was made possible because of steep growth in the domestic market in the second half of the year owing to the GST reduction. The Company sales were restricted by a limitation in the production capacity as evidenced by about 190,000 pending customer orders at year end, including nearly 130,000 orders in the small car segment (18% GST bracket). In addition, the dealer inventory was at a low of about 12 days’ stock. Continue reading “Maruti Suzuki announces Financial Results for FY2025-26”

Summary

• Pretax profit sinks 17% in Q1 but beats expectations
• Raw material costs seen rising due to Middle East conflict
• CFO hopeful of second-half boost from product launches

BERLIN, (Reuters) – Mercedes-Benz reported a sharp drop in operating profit at the start of 2026, a year set to bring higher raw material costs and further tariff pressures, weighing on the German carmaker as it overhauls its model lineup to ​boost sales.

The Middle East conflict has driven up global industry costs, compounding pressure on European automakers ​already hit by high U.S. import tariffs. Continue reading “Mercedes profit tumbles in Q1 on China competition, tariff pressures”

Summary

• Q1 operating profit down 22% at 595 million euros
• Middle East impact not factored into guidance
• Tariff costs mount, China competition fierce

BERLIN, (Reuters) – German sports car maker ‌Porsche saw its profit erode further in the first quarter of 2026 as it doubles down on cost-cutting to deal with mounting challenges from tariffs, geopolitical turmoil and gaps in its model lineup.

Porsche was ​hit by another 200-million-euro ($234 million) U.S. tariff charge in the first quarter, while ​Chinese consumers continued to turn away from the German brand in favour ⁠of cheaper local alternatives. Continue reading “Porsche adds Middle East to list of problems as first-quarter profit falls”

Summary

• Cost-cutting cushions profit drop
• Volvo resists price cuts despite rivals’ discounts, aims to protect margins
• Underestimated impact of US subsidy halt on plug-ins

STOCKHOLM, (Reuters) – Volvo Cars ​said on Wednesday that it had underestimated the impact of scrapped U.S. EV subsidies, ‌but cost savings had helped contain a drop in first-quarter earnings squeezed by price pressure and tariffs.

Like other European carmakers, Volvo Cars has endured a year of rising tariffs, adverse currency moves and geopolitical shifts, leaving its shares languishing ​near record lows. Continue reading “Volvo Cars aims to retain premium pricing as US tariffs pile on pressure”

WASHINGTON, (Reuters) – Two U.S. senators on Wednesday ​introduced legislation to ‌toughen a U.S. government ban on Chinese automakers ​from entering the ​American market, weeks before ⁠President Donald Trump ​heads to China for ​talks.

Republican Senator Bernie Moreno of Ohio and Democratic ​Senator Elissa Slotkin ​of Michigan proposed legislation to ‌codify ⁠a regulation imposed by the Biden administration that effectively bans ​all Chinese ​automakers ⁠from selling passenger vehicles in ​the U.S. and ​take ⁠other steps to prevent China from entering ⁠the ​U.S. light ​duty market. Continue reading “Senators propose legislation to tighten US ban on Chinese vehicles”

DETROIT, (Reuters) – General Motors is investing about $1.4 billion in three U.S. factories ​and one Canadian plant that produce gas ‌engines, transmissions and metal castings, the automaker said on Wednesday, bolstering its ability to make combustion-engine ​cars as demand for electric vehicles wanes.

The ​investments also come as President Donald Trump’s ⁠administration continues to pressure companies to ​invest more in the United States. GM noted ​it has invested $6 billion in the past year on factories in the U.S. Continue reading “GM earmarks over $1 billion toward gas-engine output in US, Canada”

(Reuters) – Tesla said on Wednesday its first Semi truck has begun rolling ​off a high-volume production line as the ‌electric vehicle maker remains on track to launch large-scale manufacturing of several new products in 2026.

Here are the details: Continue reading “First Tesla Semi rolls off high volume production line”

Summary

• Ford expects to receive $1.3 billion tariff refund after Supreme Court ruling
• Automaker raises annual EBIT guidance by $500 million
• Company recorded net profit of $2.5 billion for the quarter

DETROIT, (Reuters) – Ford Motor lifted its annual guidance on Wednesday ​by $500 million, aided by significant tariff refunds, but said it still faces rising materials costs as it ‌works to source aluminum for its lucrative F-150 pickup trucks.

A U.S. Supreme Court ruling in February that struck down some of the Trump administration’s tariffs provided $1.3 billion in relief to Ford. The company booked a paper gain on that expected refund in the first quarter, bolstering its bottom line, while ​acknowledging uncertainty around how quickly it will be reimbursed by the government. Continue reading “Ford raises profit outlook for 2026 despite nagging aluminum supply costs”

(Reuters) – The U.S. National Highway ​Traffic Safety Administration (NHTSA) has upgraded its probe ‌into Jaguar Land Rover vehicles to an engineering analysis, the agency said on Tuesday, following reports that ​the front aluminum steering knuckles could fracture.

The ​auto safety regulator said the investigation covers ⁠331,559 vehicles, and includes Range Rover and ​Range Rover Sport models from the 2014 ​to 2022 model years. Continue reading “US agency upgrades probe into JLR vehicles’ steering troubles”

WASHINGTON, (Reuters) – More than 70 Democrats in the U.S. House of Representatives urged President Donald Trump on Tuesday not to permit Chinese ​automakers to build or sell cars in the United States.

The lawmakers, led ‌by Representative Debbie Dingell and Ro Khanna, urged Trump to keep a ban in place that has the strong backing of U.S. and foreign carmakers and other auto groups. Continue reading “House Democrats urge Trump to keep US ban on Chinese cars”

NAGOYA, Japan, (Reuters) – Japanese parts suppliers to automakers including Toyota face mounting cost and supply uncertainties due to the Iran war, warning that oil-related product price rises could dent profits.

Shortages of ​hard-to-substitute materials such as naphtha-derived products and aluminium could have an outsized impact ‌on production, suppliers said, potentially rippling through manufacturing far beyond their cost base. Continue reading “Toyota suppliers feeling profit pressure from Iran war”

A look at the day ahead in European and global markets from Gregor Stuart Hunter

It’s Fed Day, and it looks increasingly certain that it will be Jerome Powell’s curtain call as chair. By the ​time the Federal Open Market Committee wraps up, the Senate is expected to be ‌voting on Kevin Warsh’s confirmation, setting the stage for one of the most consequential periods at the world’s most powerful central bank. Continue reading “Morning Bid: Fed sails into unchartered waters as Powell bows out”

Summary

• Pretax profit sinks 17% in Q1 but beats expectations
• China sales slump deepens as EV rivals gain ground
• Cost cuts continue with car margins near lows

BERLIN, (Reuters) – Mercedes-Benz reported ‌a sharp 17% drop in operating profit in the first quarter, but the premium carmaker said new model launches and cost controls should lift momentum even as competition and tariffs squeeze margins, especially ​in China.

Tariffs, fierce China competition and a rocky EV transition have impacted ​German carmakers like Mercedes, spurring CEO Ola Kaellenius to cut costs and ⁠jobs while accelerating new model launches. Continue reading “Mercedes profit slumps in early 2026 but new-model push aims to revive margins”

Source : PTI | The Delhi Traffic Police penalised over 11,800 motorists during a special three-hour enforcement drive conducted across the city, targeting improper parking and wrong-side driving, officials said.

The intensive drive was carried out on Saturday across all traffic ranges and districts as part of efforts to curb congestion and enhance road safety, they said.

Continue reading “Delhi Police books over 11,000 for traffic violation in 3-hour drive”