Summary

• Pay for veteran workers at Detroit Three to rise by 33%
• UAW won right to strike future plant closures
• Contract will boost GM labor, pension costs $7 bln -sources

Oct 30 (Reuters) – General Motors (GM.N) and the United Auto Workers (UAW) struck a tentative deal on Monday, ending the union’s unprecedented six-week campaign of coordinated strikes that won record pay increases for workers at the Detroit Three automakers. Continue reading “UAW reaches deal with GM, ending strike against Detroit automakers”

Oct 30 (Reuters) – The tentative agreement reached between the United Auto Workers and two of the Detroit Three automakers marks another victory for labor unions that have turned up the pressure on big corporations to put better deals on the table.

Unions have taken an aggressive approach to campaigning with a series of high-profile battles across the industrial, auto, entertainment and healthcare industries. Experts say gains won by unions could spur more organizing and motivate non-unionized companies to try to stave off those efforts. Continue reading “UAW’s record deal could boost others’ wages as labor notches another victory”

TOKYO, Oct 30 (Reuters) – Toyota Motor (7203.T) said on Monday that worldwide production rose 1.5% in September from the same period a year earlier to 900,919 vehicles, boosted by stronger demand in Japan, the United States and in Europe.

The Japanese automaker’s domestic production, which accounted for just over a third of the vehicles it produced during the month, rose 12.8% from a year earlier, offsetting a 3.6% decline in overseas output. Continue reading “Toyota September production jumps on stronger Japan output”

Oct 30 (Reuters) – Canadian labor union Unifor said early on Monday it has commenced strikes at all Stellantis (STLAM.MI) facilities in the country, with more than 8,200 members staging a walkout after failing to reach a tentative agreement in labor contract talks.

The union is seeking improved wages and pensions. Its bargaining team has also prioritized discussions around support for its workers in the electric vehicle transition of Stellantis’ Brampton Assembly Plant. Continue reading “Canadian union Unifor begins strikes at all Stellantis facilities”

Source : PTI | State-owned Bharat Petroleum Corporation Ltd (BPCL) reported returning to profitability in the September quarter after a boost in marketing margin improved earnings. Consolidated net profit in July-September was at INR 8,243.55 crore compared to a loss of INR 338.49 crore in the same period a year back, the company said in a statement.

The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year. Continue reading “BPCL returns to black after marketing margin boost”

Source : PTI | Delhi Environment Minister Gopal Rai on Sunday demanded the Centre impose a strict ban on buses operating with poor-quality diesel in the NCR areas of Haryana, Uttar Pradesh, and Rajasthan. During a surprise inspection at the Kashmere Gate interstate bus terminal, the minister found that all buses registered in Haryana, Rajasthan, and Uttar Pradesh were BS III and BS IV vehicles.

“Vehicular emissions account for a significant portion of Delhi’s air pollution. While buses in Delhi operate only on compressed natural gas and electricity, those belonging to the neighbouring states of Haryana, Uttar Pradesh, and Rajasthan are BS III and BS IV vehicles,” he told reporters here. Continue reading “Ban BS III, BS IV diesel buses in NCR areas of Haryana, UP, Rajasthan: Gopal Rai to Centre.”

Oct 29 (Reuters) – The United Auto Workers on Sunday laid out key parts of the union’s tentative 4 1/2-year contract with Ford Motor (F.N), which will end a divisive strike if approved by members.

The following are issues highlighted by UAW leaders: Continue reading “Highlights of UAW deal with Ford”

DETROIT, Oct 29 (Reuters) – United Auto Workers leaders approved a tentative deal on Sunday with Ford (F.N) that includes a pay hike of at least 30% for full-time workers and could more than double pay for others, in a victory for the union’s fight to roll back 15 years of concessions.

Bargaining continued at General Motors (GM.N) without any deal. UAW President Shawn Fain on Saturday ordered a walkout at GM’s Spring Hill, Tennessee, engine and assembly plant. Fain and GM CEO Mary Barra were meeting on Sunday night, sources familiar with the process said. Continue reading “UAW-Ford deal nets union big wins on wages, benefits, investments”

Source : PTI | New Delhi: Improvement in public transport facilities, smog guns at construction sites and strengthening the Delhi Pollution Control Committee (DPCC) as an institution are some of the measures suggested by environmentalists to combat the deteriorating air quality in the national capital. Delhi’s air quality was recorded in the ‘poor’ category for the fifth consecutive day on Friday and is likely to deteriorate in the coming days due to unfavourable meteorological conditions, according to monitoring agencies. Continue reading “Improve public transport facilities to combat poor AQI in Delhi: Environmentalists”

Source : PTI | New Delhi: Diversified natural resources firm Vedanta Ltd on Saturday said its ranking has improved remarkably in S&P Global’s 2023 corporate sustainability assessment. S&P Global’s Corporate Sustainability Assessment (CSA) is an evaluation of the company’s sustainability performance, it added.

“Vedanta, which has scored 81 points this year compared to last year’s score of 76, has scored higher than its global peers,” the company said in a statement. Continue reading “Vedanta improves ranking in sustainability assessment”

Oct 28 (Reuters) – The United Auto Workers on Saturday expanded its strike at General Motors (GM.N) to include an engine plant in Spring Hill, Tennessee that GM said supplies nine factories producing several of its best selling and most profitable vehicles.

UAW President Shawn Fain said he ordered the walkout at the Spring Hill manufacturing complex because GM is balking at contract terms based on deals struck at Ford on Wednesday and Stellantis on Saturday. Continue reading “UAW strikes GM engine plant, threatening wider disruption”

Source : PTI | New Delhi: One crore passengers are riding metro systems per day in India, Union Minister for Housing and Urban AffairsHardeep Singh Puri said on Friday. He said this in his address at the 16th Urban Mobility India Conference and Exhibition being hosted here from October 27-29.

At present, the operational length of metro systems in India is 895 km in about 20 cities, and it is set to grow towards becoming the world’s second largest metro network in the next few years, Puri said. Continue reading “One crore passengers riding metro systems per day in India: Puri”

Source : PTI | Punjab Energy Development Agency (PEDA) on Friday signed a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Limited (HPCL) for setting up 10 compressed biogas (CBG) projects and other new and renewable energy projects across the state.

The MoU was signed by PEDA Chief Executive Officer Amarpal Singh and Executive Director (Bio-fuels and Renewables) of HPCL, Shuvendu Gupta here in the presence of Ravi Bhagat, Secretary, New and Renewable Energy Sources, Punjab, an official statement said. Continue reading “PEDA inks MoU with HPCL for setting up 10 compressed biogas projects in Punjab”

SHANGHAI, Oct 27 (Reuters) – Beijing’s move to restrict graphite exports will have a disproportionate impact on foreign makers of electric vehicle battery components who have not yet shifted to using as much synthetic material as Chinese counterparts, industry insiders and experts said.

China’s latest limit on critical mineral exports, which Beijing said is not targeted at a specific sector, has fuelled uncertainty in the global EV supply chain since it was announced last Friday. Continue reading “Global EV battery supply chain puzzles over China graphite curbs”

Oct 27 (Reuters) – Auto parts supplier Dana (DAN.N) said on Friday its operations in North America were “significantly impacted” by the ongoing United Auto Workers (UAW) union strikes against automakers, while outlining the expected financial hit from them.

Shares of the company, which supplies axles, driveshafts and transmissions to the Detroit Three automakers, namely General Motors (GM.N), Ford Motor (F.N) and Stellantis NV (STLAM.MI), were up more than 3% in morning trade. Continue reading “Dana sees ‘significant impact’ from UAW strikes to North American operations”

WASHINGTON, Oct 27 (Reuters) – Strikes by members of the United Auto Workers (UAW) union including against Detroit’s Big Three car manufacturers could subtract at least 29,000 jobs from U.S. nonfarm payrolls in October, government data showed on Friday.

The Labor Department’s monthly strike report showed 25,300 workers were idle at assembly plants owned by Ford Motor (F.N), General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI) nationwide during the October payrolls count period. Continue reading “Auto strikes to reduce US payrolls count in October -government report”

SAN FRANCISCO, Oct 27 (Reuters) – General Motors’ autonomous vehicle unit, Cruise, is facing multiple federal investigations over its cars’ safety, including two incidents where the robot cars appeared not to yield to pedestrians in crosswalks, according to a U.S. regulator’s letter released on Friday.

Cruise autonomous cars “may not be exercising appropriate caution around pedestrians in the roadway,” according to the letter dated Oct. 20 from the National Highway Traffic Safety Administration. “This vehicle behavior could increase the risk of a collision with a pedestrian which in turn may result in injury or death.” Continue reading “US probes GM’s Cruise robocars over pedestrian close calls”

Oct 27 (Reuters) – Shares of Ford Motor Co (F.N) closed down 12.3% on Friday, after the automaker reported a wider loss from its electric-vehicle (EV) business due to pressures from a price war, sparked by industry leader Tesla (TSLA.O).

The Detroit automaker also pulled its 2023 forecast, citing “uncertainty” over the pending ratification of its new labor deal with the United Auto Workers (UAW) union, which is expected to significantly increase labor-related expenses. Continue reading “Ford shares fall after pulling full-year forecast, wider losses in EV unit”

Source : PTI | Piaggio Vehicles Pvt Ltd, the subsidiary of Italian automaker Piaggio & C. SpA, has sold about 26,000 units of its electric three-wheelers this year. The Indian subsidiary had retailed about 12,000 units last year, Amit Sagar, the company’s Executive Vice President, Commercial Vehicles said on Thursday.

Piaggio Vehicles today launched its first 3-wheeler passenger EV — Ape E-city FX NE Max in Tamil Nadu priced at INR 3.46 lakh. The passenger vehicle is an addition to the existing cargo range of vehicles. Continue reading “Piaggio sells about 26,000 electric 3-wheelers in 2023”

Source : PTI | Tokyo, Japanese auto major Toyota Motor Corporation has initiated the process to enhance manufacturing capacity in India with two plants running at full capacity in the country, a senior company official said on Thursday. Speaking to media on the sidelines of the Japan Mobility Show here, Toyota Motor Corporation Board Member and Executive Vice President Yoichi Miyazaki confirmed the development and said the company is reaching full plant capacity utilisation in India.

“We have started a discussion (on the matter),” he said when asked if the company is looking to make fresh investment on capacity enhancement in the country. Continue reading “Toyota initiates process to enhance manufacturing capacity in India”

DETROIT, Oct 26 (Reuters) – Ford Motor (F.N) on Thursday withdrew its full-year results forecast due to “uncertainty” over the pending ratification of its deal with the United Auto Workers (UAW) union, and warned of continued pressure on electric vehicles, sending shares of the company down more than 4% after-hours.

The union and Ford on Wednesday reached a tentative agreement that included a 25% wage hike for 57,000 workers over 4-1/2 years, ending a strike at some of the automaker’s biggest factories. Continue reading “Ford again warns on EV results, withdraws 2023 forecast”

Oct 26 (Reuters) – General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). were in intensive talks on Thursday with the United Auto Workers in an effort to end a six-week-old strike a day after Ford Motor (F.N) reached a tentative contract deal.

Ford on Wednesday was the first of Detroit’s Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September, a deal that will likely set a pattern for reaching deals with GM and Stellantis. Continue reading “GM, Stellantis work to reach UAW contract deals”

Oct 26 (Reuters) – Volvo Group-owned (VOLVb.ST) Mack Trucks said Thursday the United Auto Workers’ contract demands are unrealistic and that no new talks are scheduled after workers went on strike on Oct. 9, following their rejection of a proposed five-year contract.

About 73% of the unit’s 4,000 workers in Pennsylvania, Florida and Maryland voted against a tentative agreement that included a 19% pay raise that had been endorsed by UAW leaders. Continue reading “Mack Trucks says UAW demands unrealistic, no new talks set”

WASHINGTON, Oct 26 (Reuters) – General Motors’ (GM.N) driverless car unit Cruise said late Thursday it will suspend all operations nationwide after California regulators this week ordered the robotaxi operator to remove its driverless cars from state roads.

California’s Department of Motor Vehicles (DMV) on Tuesday said Cruise driverless vehicles were a risk to the public and that the company had “misrepresented” the technology’s safety. Continue reading “GM Cruise unit suspends all driverless operations after California ban”

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The 20^th edition of Automechanika Dubai sets a new show record, as organiser welcomed over 52,000 trade visitors – a 21% increase on the previous year

 The event also saw a 5% year-on-year increase of countries represented to 161, with a total of 1,938 exhibitors from 61 countries

 Sustainability and efficiency were a key focus during the three-day automotive aftermarket showcase

 Dubai, UAE: Automechanika Dubai, the largest international trade exhibition for the automotive aftermarket industry in the Middle East, has welcomed 52,082 trade visitors during the three-day showcase, which concluded earlier this month.

The figure represents a year-on-year increase of 21% in trade visitors compared to last year, when 42,937 people attended, establishing a new record for the show and demonstrating the automotive aftermarket in the region is booming. Continue reading “Automechanika Dubai 2023 sees 21% year-on-year growth in trade visitors as the event sets new record”

Summary

• Nework expansion in India’s Silicon Valley, with the inauguration of five new sales touchpoints in the city of Bengaluru
• Southern India continues to be a strong market for Volkswagen India with a total network strength of 23 sales and 15 service touchpoints across Karnataka. Along with 25 sales and 18 service touchpoints in Tamil Nadu
• Strong and skilled team: The new touchpoint introduction will provide skilled employment to nearly 100 people across the two states
• Enhancing accessibility, Volkswagen India now has a footprint of 192 new and pre-owned sales outlets and 133 service touchpoints across 142 cities in India
• India’s safest product portfolio comprising of Taigun and Virtus (5-star GNCAP rated) and the globally acclaimed Tiguan can be experienced at the new touchpoints

Mumbai: Volkswagen India expands its network presence across South India with the inauguration of six new touchpoints in Karnataka and Tamil Nadu. The Brand adds five new sales touchpoints in India’s Silicon Valley showcasing enhanced customer demand for premium, German-engineered and safe mobility solutions in the region. Continue reading “Volkswagen India strengthens its network with the addition of six touchpoints across Karnataka and Tamil Nadu”

SEOUL, Oct 26 (Reuters) – Hyundai Motor (005380.KS) said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year – a contrast to recent steps by rivals to cut back on EV output.

Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. Continue reading “Hyundai sticks to EV rollout plans, sees solid growth this year”

Summary

• BEV market status quo “not sustainable” – CFO
• Operating profit down 6.8% to 4.8 bln euros in Q3
• Pricing competition, supply chain snags weigh on earnings
• Adjusted returns for cars expected at lower end of forecast

BERLIN, Oct 26 (Reuters) – Mercedes-Benz (MBGn.DE) said a “brutal” electric vehicle market of heavy price cuts and supply chain issues meant it would likely hit the lower end of its 12-14% adjusted return on sales forecast for the cars division, as third-quarter earnings fell. Continue reading “Mercedes says ‘brutal’ EV market will pressure car sales margins”

Summary

• VW brand cost-cutting programme delayed but underway: CFO
• EV order book at half last year’s levels but picking up
• May lose market share in China until new model rollout: CFO

BERLIN, Oct 26 (Reuters) – Volkswagen (VOWG_p.DE) is working to cut costs and sticking with its electric vehicle prices despite reductions at some rivals, as the German automaker aims to rebuild margins after quarterly profits were hit by bad bets on raw material prices. Continue reading “Volkswagen sticks to EV targets and pricing despite knock to demand”

Source : PTI | The Union Cabinet has approved a memorandum of cooperation between India and Japan on a Semiconductor Supply Chain Partnership, an official statement said on Wednesday.

The memorandum of cooperation between the two countries was signed in July.

“The Union Cabinet chaired by Prime Minister Shri Narendra Modi was apprised of a Memorandum of Cooperation (MoC) signed in July 2023, between the Ministry of Electronics and Information Technology of the Republic of India and the Ministry of Economy, Trade and Industry of Japan on Japan-India Semiconductor Supply Chain Partnership,” the statement said. Continue reading “Cabinet approves pact between India, Japan on semiconductor supply chain”

STOCKHOLM, Oct 26 (Reuters) – Sweden-based automaker Volvo Cars (VOLCARb.ST) reported a rise in third-quarter operating earnings on Thursday driven by strong volumes and lower costs for semiconductors and raw materials.

Volvo Cars, majority-owned by China’s Geely Holding, said operating income rose to 4.5 billion Swedish crowns ($402.75 million) in the quarter from a year-ago 2.1 billion. Continue reading “Volvo Cars Q3 profit jumps as costs fall”

SEOUL, Oct 26 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) reported on Thursday a 151% rise in third-quarter profit, boosted by solid sales of high-margin sport utility vehicles and a favourable exchange rate.

Hyundai reported a net profit of 3.2 trillion won ($2.36 billion) for the July-September period, up from 1.3 trillion in profit a year earlier. Continue reading “Hyundai Motor’s Q3 net profit rises 151%, beats forecasts”

Summary

• EBIT down 6.8% to 4.8 bln euros in Q3
• Pricing competition, supply chain snags weigh on earnings
• Adjusted returns for cars expected at lower end of forecast

BERLIN, Oct 26 (Reuters) – Mercedes-Benz (MBGn.DE) expects to maintain its sales rate next quarter but will likely hit the lower end of its adjusted return forecast for cars this year due to inflation, high interest rates and geopolitical uncertainty, it said. Continue reading “Mercedes Q3 earnings take hit on subdued sales, supply chain snags”

Source : PTI | There is a need to support a multi-pathway approach in terms of green technologies in cars in a country as big and diverse as India to achieve carbon neutrality goals, a senior Toyota executive said on Tuesday. Multiple technology solutions at different price points are required to cater to different sets of customers in order to cut carbon footprint, he noted.

In an interaction here, senior Toyota executives emphasised on the need to treat all technologies fairly to achieve carbon reduction goals. Continue reading “Multiple green technologies in cars to help meet carbon neutrality targets in India: Toyota”

Source  : PTI | TVS Motor Company on Wednesday announced it is extending collaboration with Singapore-based tech startup ION Mobility for its entry in the sports scooter segment in Indonesia.

The entry will be through Project Dynamo, ION Mobility’s conceptual adaptation of TVS Motor’s premium flagship crossover electric two-wheeler TVS X. Continue reading “TVS Motor extends ties with Singapore-based ION Mobility for entry in sports scooter segment in Indonesia”

Source : PTI | Japanese auto major Honda Motor Company is betting big on new technologies such as autonomous driving and generative AI as it seeks to enable people to transcend various constraints such as time and place while providing holistic mobility solutions in future, company’s President and CEO Toshihiro Mibe said on Wednesday. At the Japan Mobility Show here, Mibe unveiled autonomous vehicle Cruise Origin, and together with GM and Cruise, Honda plans to launch a driverless ride hailing service using the vehicle in Japan in early 2026 along with ‘Honda CI-MEV’ self-driving micro-mobility vehicle for last-mile mobility.

Besides, the company also unveiled the electric sports car Prelude Concept, which he said, “will become the prelude for our future models” of sporty models. Continue reading “Honda bets on autonomous driving, AI for holistic mobility solutions of future”

Source : PTI | Indian Oil Corporation (IOC) has begun producing specialised ‘reference’ petrol and diesel, which are used for testing automobiles, for the first time in India, sources said. These fuels, which have higher specifications, are critical for calibrating and testing by automobile manufacturers and testing agencies like the International Centre for Automotive Technology (ICAT) and the Automotive Research Association of India.

For decades, India relied on imports to meet the demand for these specialised fuels. Continue reading “IOC starts producing ‘reference’ petrol, diesel for testing automobiles”

TOKYO, Oct 25 (Reuters) – Honda Motor (7267.T) and General Motors (GM) (GM.N) are scrapping a plan to jointly develop affordable electric vehicles (EVs), the companies said on Wednesday, just a year after they agreed to work together in a $5 billion effort to try to beat Tesla (TSLA.O) in sales.

The decision underscores GM’s strategic shift to slow the launch of several EV models to focus on profitability, as it grapples with the rising cost of United Auto Workers strikes, which surged to $200 million a week this month. Continue reading “Honda, GM scrap $5 bln plan to co-develop cheaper EVs”

Summary

• Stellantis to acquire 21% stake in EV maker Leapmotor
• Firms form JV to build and sell Leapmotor products outside China
• Deal gives Stellantis a crucial foothold in China
• Leapmotor shares tumble 10%, reversing initial 11% jump

HANGZHOU, China, Oct 26 (Reuters) – Stellantis is buying a 21% stake in Leapmotor for $1.6 billion, it said on Thursday, in a reset of its China strategy to focus on electric vehicles after years of poor sales and manufacturing pullback in the world’s biggest auto market. Continue reading “Stellantis resets China strategy with $1.6 bln stake in EV firm Leapmotor”