TOKYO, (Reuters) – Nissan Motor said on Friday it would abandon a plan to build a $1.1 billion factory for electric vehicle batteries on Japan’s southwestern island of Kyushu, marking the latest change of plans for the troubled automaker.

Japan’s third-biggest automaker had announced in January the plan for a lithium iron phosphate (LFP) battery plant in the city of Kitakyushu that was set to create about 500 jobs with an investment of 153.3 billion yen ($1.05 billion). Continue reading “Nissan abandons plan for $1.1 billion EV battery plant in southern Japan”

Summary

• Buyback boost follows Engine Capital’s push for strategic options
• Lyft’s Q1 adjusted profit beats estimates
• Company targets smaller, car-dependent cities for growth

(Reuters) – Lyft increased its stock buyback program to $750 million and beat first-quarter profit estimates on Thursday, signaling steady demand for its ride-hailing services, sending its shares up nearly 8% in extended trading. Continue reading “Lyft boosts stock buyback program, targets smaller cities in growth push”

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Source : PTI | Mumbai/ New Delhi, (PTI) Mahindra & Mahindra Ltd, which on Monday reported a 13.34 per cent rise in consolidated profit after tax for the March quarter, announced plans to set up a new manufacturing facility primarily for passenger vehicles, which is expected to be operational by March 2028.

The company reported a 13.34 per cent rise in consolidated profit after tax to Rs 3,541.85 crore in the fourth quarter ended on March 31, 2025, led by good performance from auto and farm equipment sectors. Continue reading “Mahindra & Mahindra Profit Up 13% in Q4, New Plant Planned”

Summary

• Ford’s price hikes reflect mid-year actions and tariffs
• Trump’s tariffs cause uncertainty, softened for U.S. auto parts
• Ford’s strong U.S. base helps weather tariffs, imports face hikes

DETROIT, (Reuters) – Ford Motor has hiked prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump’s tariffs.

Prices on the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase by as much as $2,000 on some models, according to a notice sent to dealers, which was reviewed by Reuters. Continue reading “Exclusive: Ford hikes prices on Mexico-produced models, citing tariffs”

Summary

• Currency impact and tariffs weigh heavily on Toyota’s profit forecast
• Toyota faces risks from U.S. tariffs affecting exports and consumer sentiment
• Japan remains profitable for Toyota despite losses in North America

TOKYO, (Reuters) – Toyota Motor expects profit to decline by a fifth in the current financial year, it said on Thursday, as weakness in the U.S. dollar and the impact of President Donald Trump’s tariffs weigh on the world’s largest automaker. Continue reading “Toyota sees 21% full-year profit decline as tariffs take a bite”

JSW MG Motor India today launched the MG Windsor PRO, an upgraded version of its popular electric vehicle that aims to redefine business-class mobility with enhanced tech, safety, and convenience.

The new Windsor PRO comes equipped with a 52.9 kWh battery, offering a certified range of 449 km (MIDC), and delivers 136 PS power with 200 Nm torque. Alongside three new colours—Celadon Blue, Aurora Silver, and Glaze Red—the PRO version also introduces 18” dual-tone machined alloys and a refreshed two-tone Ivory-Black interior. Continue reading “JSW MG Launches Windsor PRO With Bigger Battery, Advanced Tech, Flexible Ownership”

Source : PTI | India will have 123 million electric vehicles on road by 2032 under the best case scenario, said a report by India Energy Storage Alliance and Customised Energy Solutions released on Tuesday.

In a significant move towards sustainable development and to achieve net zero emissions by 2070, there is a need to adopt electric vehicles (EVs). This can bolster India’s economy while supporting the ambitious target set for 2030-EV penetration of 30 per cent, the report said. Continue reading “India will have 123 million EVs by 2032: Report”

Summary

• US tariff impact on Toyota’s FY2025 profit forecast in focus
• FY2025 operating profit may face 800 billion yen tariff hit, says analyst
• FY2024 Q4 operating profit expected to show first y/y rise in three quarters

TOKYO, (Reuters) – Robust demand for hybrids is expected to underpin steady profits at Toyota when the world’s top automaker reports annual earnings on Thursday, although investors will be on high alert for any sign of a looming impact from U.S. tariffs. Continue reading “Toyota’s earnings buffered by demand for its hybrids, but US tariff hit looms”

Summary

• Volvo Cars to cut about 125 jobs at Charleston factory
• Move not linked to upcoming cost-cutting plan
• Carmaker still plans to create 4,000 jobs in total in South Carolina over longer term

STOCKHOLM, (Reuters) – Volvo Cars said on Wednesday it would make production changes and cut 5% of the workforce at its Charleston plant in the United States due to changing market conditions and evolving trade policies, including tariffs. Continue reading “Volvo Cars to cut 5% of jobs at South Carolina plant as tariffs bite”

Summary

• Ford’s price hikes reflect mid-year actions and tariffs
• Trump’s tariffs cause uncertainty, softened for U.S. auto parts
• Ford’s strong U.S. base helps weather tariffs, imports face hikes

DETROIT, (Reuters) – Ford Motor has hiked prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump’s tariffs. Continue reading “Exclusive: Ford hikes prices on Mexico-produced models, citing tariffs”

Summary

• Expects some tariffs to fall from H2
• In talks with various U.S. policymakers, CEO says
• Q1 auto EBIT margin at 6.9% vs 6.3% in LSEG poll
• BMW shares up 1.3%
• Warns of ‘notable’ tariff impact in Q2

FRANKFURT/LONDON, (Reuters) – BMW expects U.S. car tariffs to decline from July, based on its contacts with U.S. officials, a more upbeat assessment of the trade situation than many rivals and leading the German luxury automaker to confirm its 2025 outlook. Continue reading “BMW expects car tariffs to fall from July in upbeat take on trade war”

BEIJING, (Reuters) – Tesla’s China-made electric vehicle sales fell 6% in April from a year earlier, extending declines for a seventh month, as the U.S. automaker grapples with intense competition from its Chinese rivals and a tarnished image in Europe.

Deliveries of China-made Model 3 and Model Y vehicles, which account for exports to markets including Europe as well as China sales, totalled 58,459 units last month, down 25.8% from March, data from the China Passenger Car Association (CPCA) showed on Wednesday. Continue reading “Tesla’s China-made EV sales fall 6% y/y in April as woes deepen”

PARIS, (Reuters) – Renault’s limited-edition, electric remake of its iconic 1980 R5 Turbo petrol-engine hatchback, originally designed to compete in rally sports, drew 850 orders in its first week despite a 155,000 euro ($176,000) starting price, the carmaker said.

Renault plans to sell only 1,980 units of the 555-horsepower Renault 5 Turbo 3E electric vehicle, which boasts the body-built rear wings of its combustion-engine ancestor and can accelerate to 100 km (62 miles) per hour in 3.5 seconds. Continue reading “Renault’s turbo hatchback EV racks up orders despite $176,000 price tag”

(Reuters) – Italian luxury sports carmaker Lamborghini reported on Tuesday a 29.6% jump in revenue to 895.2 million euros, driven by strong global demand for its new hybrid models, the Revuelto and Urus SE, despite the complex global scenario.

Lamborghini, part of Germany’s Volkswagen group, also made an operating profit (EBIT) of 248.1 million euros, up 32.8% from the same period in 2024. Continue reading “Lamborghini quarterly revenue up 29.6% as hybrid models boost deliveries”

Summary

• Tesla’s April car sales drop 62% in Britain, 46% in Germany
• EV market share for Tesla in Britain falls to 9.3%
• Revamped Model Y deliveries expected to start in June

(Reuters) – Tesla’s new car sales in Britain and Germany plummeted to their lowest in over two years in April, falling 62% and 46% year-on-year respectively, even as demand for electric vehicles rose in both countries, national data showed on Tuesday. Continue reading “Tesla’s UK, Germany new car sales at two-year low in April even as EV demand rises”

(Reuters) – Uber said on Tuesday it was partnering with Pony AI (PONY.O) to deploy the China-based robotaxi developer’s vehicles onto its ride-hailing platform, marking the latest in a series of tie-ups aimed at strengthening its presence in the fledgling robotaxi sector.

The partnership will launch in a key market in the Middle East later this year and will roll out to more international markets in the future. Continue reading “Uber partners with China’s Pony AI to deploy self-driving taxis in key Middle East market”

Summary

• Deliveries of Ferrari’s first EV to start in October 2026
• Sees 2025 core earnings of at least 2.68 bln euros
• U.S. tariffs could hit 2025 margins by 50 basis points
• First-quarter core earnings rose 15% to 693 million euros

MILAN, (Reuters) – Ferrari first fully electric model will hit the streets in October 2026, its CEO said on Tuesday as the luxury sports car maker posted a 15% rise in first-quarter core earnings and stuck to its broad financial guidance for the year. Continue reading “Ferrari to start deliveries of new EV in October 2026”

WASHINGTON, (Reuters) – Amazon.com’s self-driving unit Zoox agreed to recall 270 driverless vehicles after an unoccupied robotaxi was involved in an April 8 crash with a passenger car in Las Vegas.

Zoox said on Tuesday there were no injuries in the crash. The Zoox Automated Driving Systems in certain driving scenarios “may make an inaccurate prediction when another vehicle slowly approaches perpendicularly and stops. In these scenarios, the Zoox vehicle may not be able to avoid a crash.” Continue reading “Amazon’s robotaxi unit Zoox agrees to software recall after self-driving Las Vegas crash”

Summary

• Rivian CEO warns of rising vehicle costs due to tariffs
• Lucid expects 8%-15% cost increase, sticks to production forecast
• Rivian to invest $120 million to relocate suppliers near Illinois plant

(Reuters) – Electric vehicle makers Rivian and Lucid warned of higher costs from U.S. tariffs on imported vehicles and auto parts, even as automakers scramble to rework sourcing of critical supplies and minimize disruption. Continue reading “EV makers Rivian, Lucid flag increasing costs as tariffs bite”

Summary

• US tariff impact on Toyota’s FY2025 profit forecast in focus
• FY2025 operating profit may face 800 billion yen tariff hit, says analyst
• FY2024 Q4 operating profit expected to show first y/y rise in three quarters

TOKYO, (Reuters) – Robust demand for hybrids is expected to underpin steady profits at Toyota when the world’s top automaker reports annual earnings on Thursday, although investors will be on high alert for any sign of a looming impact from U.S. tariffs. Continue reading “Toyota’s earnings buffered by demand for its hybrids, but US tariff hit looms”

(Reuters) – Rivian said on Monday it would invest $120 million to build a supplier park near its plant in Illinois, as the electric vehicle-maker gears up to produce its smaller, more affordable R2 SUVs next year.

The supplier park near Rivian’s facility at Normal, Illinois will reduce shipping, logistics and warehousing costs, while adding hundreds of jobs in the next two years, including about 100 directly by the company, it said. Continue reading “Rivian to build $120 million supplier park in Illinois”

PARIS, (Reuters) – Stellantis Chairman John Elkann and Renault CEO Luca de Meo urged the European Union to adopt more favourable rules for small cars, warning that the declining profitability of small cars could force plant closures without changes.

In a joint interview in French newspaper Le Figaro, Elkann and de Meo added that France, Italy and Spain should lead the effort as the demand for smaller, more affordable cars is the highest in these countries. They did not give details on the rules they wanted to see apply to small cars. Continue reading “Renault, Stellantis bosses urge more favorable EU rules for small cars”

Summary

• Quarterly earnings fall to 14 cents/share but beat estimates
• Tariffs seen adding $2.5 bln in gross costs this year
• Ford shares drop 2.3% after hours

DETROIT, (Reuters) – Ford Motor suspended its annual guidance on Monday because of uncertainty around U.S. President Donald Trump’s tariffs, saying the levies would cost the company about $1.5 billion in adjusted earnings before interest and taxes. Continue reading “Ford pulls guidance, warns it will take $1.5 billion hit from Trump’s tariffs”

• Mr. Ashish Gupta Appointed as a Brand Director, Škoda India
• Mr. Nitin Kohli to Head Volkswagen India
• Leadership transition reflects the Group’s commitment to empowering homegrown talent to lead global brands in India.

Škoda Auto Volkswagen India Private Limited (SAVWIPL) today announced a key leadership transition with the appointment of Mr. Ashish Gupta as Brand Director of Škoda India, effective 1st May 2025. Mr. Ashish Gupta, currently Brand Director of Volkswagen Passenger Cars, takes over from Mr. Petr Janeba, who concludes his successful tenure in India and returns to Škoda Auto, Czech Republic. Mr. Janeba, who has been a part of the Škoda family since 1999, played a crucial role in strengthening the brand’s positioning and driving customer-focused growth strategies during his time in India. Continue reading “Leadership Transition At Škoda Auto Volkswagen India With Focus On The Local Talent”

Summary

• Novo Energy cuts a further 150 jobs
• Northvolt bankruptcy impacts Novo Energy’s operations
• Volvo Cars aims to continue battery production in Gothenburg

STOCKHOLM, (Reuters) – Volvo Cars’ battery company Novo Energy said on Monday it will cut its workforce by 50% to reduce costs after evaluating its business to take account of the bankruptcy of Sweden’s Northvolt, which originally co-owned the venture. Continue reading “Volvo Cars’ battery company Novo Energy to cut half of workforce”

(Reuters) – Cummins withdrew its annual forecast on Monday, joining other vehicle manufacturers that are reassessing expectations as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump’s sweeping import tariffs.

The U.S. truck-engine maker had previously projected 2025 revenue growth ranging from a 2% decrease to a 3% increase, with core profit expected to comprise 16.2% to 17.2% of sales. Continue reading “Cummins withdraws 2025 financial forecast on tariff woes”

(Reuters) – Onsemi forecast second-quarter revenue above Wall Street expectations on Monday, as demand for its chips used in electric vehicles remains resilient despite economic uncertainty brought on by U.S. President Donald Trump’s tariffs on auto imports.

Orders for Onsemi’s silicon carbide chips have been helped in the first quarter by growth in EV sales in China and Europe, even as a 25% U.S. tariff on auto imports threatens to raise prices. Continue reading “Chipmaker Onsemi forecasts upbeat quarterly revenue on resilient demand from EV makers”

(Reuters) – General Motors on Monday named insider Duncan Aldred the president of its North America business, effective immediately, days after the automotive manufacturer cut its 2025 profit forecast on concerns over U.S. tariffs.

Aldred, who has been with GM for 33 years, was most recently vice president of the company’s commercial growth strategies and operations segment. Continue reading “GM appoints insider Duncan Aldred to lead North America business”

(Reuters) – Tesla’s new car sales in Spain fell 36% in April from the same month in 2024 to 571 vehicles, registration data released by industry group ANFAC showed on Monday, while sales of electric cars from other brands soared.

Over the first four months of 2025, sales of Teslas in Spain fell 17% over the same period a year earlier, while sales of electrified vehicles, a category that includes both fully electric vehicles and hybrids, were up 54%. Continue reading “New Tesla sales in Spain drop 36% in April despite EV sales surge”

STOCKHOLM, (Reuters) – Volvo Cars reported on Monday an 11% decrease in April sales to 58,881 cars from a year earlier, sending its shares down.

Volvo Cars, which is majority-owned by China’s Geely, said in a statement sales of fully electric cars fell 32% to account for 20% of total sales volumes. Continue reading “Volvo Cars sales fall 11% in April as fully electric cars slump”

Source : PTI | Car market leader Maruti Suzuki India’s share in the domestic passenger vehicle market fell below 40 per cent in April, while Mahindra & Mahindra emerged as the second largest player in the month, according to data released by FADA. Long-time number two player Hyundai Motor India Ltd (HMIL) has been pushed to fourth place with a market share of 12.47 per cent in April this year. Tata Motors maintained its third place with a market share of 12.59 per cent.

In April 2025, total domestic passenger vehicle (PV) retail sales stood at 3,49,939 units compared to 3,44,594 units in April 2024, a growth of 1.55 per cent, Federation of Automotive Dealers Associations (FADA) said. Continue reading “Maruti Suzuki market share dips below 40% in April”

Source : PTI | New Delhi: Chartered accountants’ apex body ICAI is likely to complete the review of the financial statements of crisis-hit Gensol Engineering Ltd and BluSmart Mobility in six months, according to officials. ICAI’s Financial Reporting Review Board (FRRB) is reviewing the financial statements of the two companies for the financial year 2023-24.

Institute of Chartered Accountants of India (ICAI) officials on Saturday said the review of the financial statements is expected to be completed in six months.

Continue reading “ICAI likely to complete review of Gensol Engg, BluSmart Mobility’s fin statements in 6 months”

Summary

• US, Japan had ‘frank and constructive’ talks, Treasury says
• US negotiators were reluctant to lower levies, Nikkei reports
• Next meeting expected in mid-May

WASHINGTON/TOKYO (Reuters) – Top U.S. and Japanese officials agreed to start immediate working-level consultations after “frank and constructive” trade talks in Washington on Thursday, the U.S. Treasury Department said on Friday, but Japanese accounts were more downbeat. Continue reading “US, Japanese officials to start trade consultations, Treasury says; Japan said skeptical”

(Reuters) – Jaguar Land Rover has restarted shipments of vehicles to the United States after pausing them in the face of U.S. President Donald Trump’s tariffs, London’s Times newspaper reported on Saturday.

The first shipments of JLR vehicles bound for the U.S. for almost a month left Britain on Wednesday, the report said. Continue reading “Jaguar Land Rover restarts car exports to the US, London’s Times reports”

MIAMI, (Reuters) – Reduced profit expectations and a potential $5 billion hit from automotive tariffs will not affect Cadillac’s Formula One debut next season, General Motors President Mark Reuss said on Saturday.

Cadillac’s parent company GM cut its 2025 profit forecast this week in the wake of uncertainty over the wide-reaching tariffs introduced by President Donald Trump. Continue reading “GM says Cadillac F1 project not affected by auto tariff hit”

(Reuters) – Volkswagen on Friday said its first-quarter operating profit for the core brand group, which includes its best-selling VW brand, declined by 46.3%, impacted by EU carbon provisions and write-downs on inventory related to U.S. tariffs.

The operating profit for the core brand group fell to 1.12 billion euros ($1.27 billion) from 2.08 billion a year ago, while its VW passenger car unit saw an 84.9% drop to 112 million euros. The core brand also includes Skoda, Seat and Cupra. Continue reading “Volkswagen core brand group profit falls on EU carbon provision, US tariffs”