Summary

• Elkann’s mother says note casts doubt on how Agnelli money split
• Elkann leads family holding that controls Ferrari, Stellantis
• Elkann’s lawyers say note has no bearing on inheritance deal

MILAN, (Reuters) – Ferrari and Stellantis chair John Elkann faces a new legal battle with his mother after her lawyers on Monday presented what they said was a previously undisclosed handwritten amendment to the will of her father, the late Gianni Agnelli. Continue reading “Ferrari chair faces new legal battle with mother over Agnelli inheritance”

Summary

• South Korean auto export value hit record levels in August
• Growth was largely driven by increased demand for used cars
• Russia, Central Asia and Middle East among the top export markets

INCHEON, South Korea, (Reuters) – From the muddy grounds of a former amusement park on South Korea’s coast, tens of thousands of vehicles are being packed for shipment overseas as booming used car exports help to mitigate the impact of U.S. tariffs on new car sales. Continue reading “South Korea’s booming used car exports cushion impact of US tariffs”

Summary

• Automakers retool existing plants to sidestep tariffs; are not building new factories
• EV commitments decline as automakers focus on gas-powered production
• Canadian auto industry disputes Trump’s claims of factory relocations

(Reuters) – President Donald Trump frequently describes a booming U.S. auto industry, fueled by new factories from Canada, Mexico and Europe that he says will soon be producing American-made vehicles for global markets – from Tokyo to Paris. Continue reading “Trump touts a boom in US auto plant construction, but carmakers’ actions tell a different story”

Summary

• Programs aim to soften impact of expiring US tax credit
• Dealers predict EV sales will plummet without subsidy
• IRS discussions led to Ford and GM’s program development- sources

DETROIT, (Reuters) – Ford and General Motors are racing to sign up car dealers for programs that would effectively extend the use of a $7,500 U.S. tax credit on leases of electric vehicles beyond the Tuesday expiration of the federal subsidy, according to dealers and documents. Continue reading “Exclusive: Ford, GM launch programs to extend use of $7,500 EV lease credit”

Source : PTI | Amid the ongoing debate over whether entry-level small cars will stage a comeback in the GST 2.0 era, hatchbacks will maintain their market relevance despite the global trend of “SUVisation” across the auto industry, according to the automotive dealers’ body Federation of Automobile Dealers Associations.

While the country’s largest carmaker Maruti Suzuki India, which enjoys a dominant position in the small car segment, expects about 10 per cent growth in the segment after the GST rate reduction, its rival Hyundai Motor India feels that micro SUVs like Exter and Punch will grow at the cost of hatchbacks as consumer preference has evolved. Continue reading “Hatchbacks will continue to exist despite ‘SUVisation’ of auto industry: FADA president”

Source : PTI | Delhi Chief Minister Rekha Gupta on Sunday flagged off 300 new DTC electric buses, saying their routes have been rationalised for better connectivity.

The rationalisation done with the help of IIT Delhi will ensure buses are plied everywhere in the city, from border areas to its innermost parts, an official statement read. Continue reading “Rekha Gupta flags off 300 new public buses”

FRANKFURT/BERLIN/STOCKHOLM, (Reuters) – Shares in Germany’s Daimler Truck and Traton fell on Friday after U.S. President Donald Trump announced tariffs on heavy-duty trucks, adding to trade tensions that have hit the automotive sector hard.

Together with a barrage of tariffs in other sectors, including on pharmaceuticals, Trump said on Thursday the U.S. would impose duties of 25% on imports of heavy-duty trucks from October 1. Continue reading “Daimler Truck, Traton shares fall on Trump’s truck tariffs”

(Reuters) – Stellantis is recalling 123,396 vehicles in the U.S. due to detached trim pieces on the driver and passenger windows that can create a road hazard for other vehicles, increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Saturday.

The quarter trim on the driver and passenger windows may not have been properly secured, which can allow it to detach, the NHTSA said. Continue reading “Stellantis to recall over 123,000 U.S. vehicles over risk of detached trim pieces”

LONDON, (Reuters) – Britain will back Jaguar Land Rover with a 1.5 billion pound ($2 billion) loan guarantee to help support its supply chain in the wake of the luxury carmaker’s production shutdown following a cyberattack.

Jaguar Land Rover’s shutdown has lasted nearly a month, and the government had been exploring options to support the company and its supply chain, with some small suppliers saying they had one week left at most before they ran out of cash. Continue reading “Britain pledges $2 billion loan guarantee for Jaguar Land Rover”

SAO PAULO, (Reuters) – Workers for Toyota in Brazil voted overwhelmingly on Sunday to approve a plan for temporary layoffs following storm damage to one of the Japanese carmaker’s factories in the state of Sao Paulo, according to a statement from the workers union.

Heavy rain and winds on September 22 severely damaged Toyota’s Porto Feliz factory, a facility where engines are manufactured, initially forcing the company to halt production there and at its Sorocaba facility, where vehicles including the Yaris, Corolla and Corolla Cross are assembled. Continue reading “Toyota workers in Brazil approve temporary layoff plan, union says”

Source : PTI | The Maharashtra transport department has taken action against nearly 7500 taxis, auto rickshaws and two-wheelers in the Mumbai Metropolitan Region between April 1 and August 25 for violations and collected fines totalling ₹1.63 crore, an official said on Thursday.

The transport department has also registered FI₹against some app-based aggregators at Azad Maidan, Samata Nagar and Amboli police stations for illegally ferrying passengers using private two-wheelers through their platform. Continue reading “Nearly 7500 taxis, rickshaws, bikes fined ₹1.63 cr by Maharashtra transport department in MMR”

Source : PTI | Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday said that there are no sanctions on the purchase of Russian crude oil, and the world will face serious consequences if the supplies are disrupted.

Citing the case of Iran and Venezuela, he said India has always complied with sanctions as a responsible member of the international community.

Continue reading “No sanctions on buying oil from Russia: Hardeep Puri”

(Reuters) – India’s Tata Motors on Friday named insiders Shailesh Chandra as managing director and CEO and Dhiman Gupta as chief financial officer, as the carmaker reshapes its top team amid disruption at Jaguar Land Rover.

Chandra will take charge on October 1 for three years, the company said. Continue reading “Tata Motors names insiders Shailesh Chandra as CEO, Dhiman Gupta as CFO”

WASHINGTON, (Reuters) – Electric vehicle manufacturer Tesla urged the Trump administration not to repeal vehicle emissions standards or the long-standing U.S. finding that greenhouse gas emissions endanger human health.

Tesla said in comments posted on Thursday that the Environmental Protection Agency’s proposal to repeal the standards “would give a pass to engine and vehicle manufacturers for all measurement, control, and reporting of GHG emissions for any highway engine and vehicle.” Continue reading “Tesla urges Trump administration to keep vehicle emissions rules, climate finding”

(Reuters) – BMW is recalling over 196,000 vehicles in the U.S. as the engine starter relay may corrode, leading to overheating and short circuit, increasing the risk of a fire, the U.S. National Highway Traffic Safety Administration said on Friday.

The issue affects multiple models including Toyota Supra and 2022 BMW 230i vehicles, the U.S. auto safety regulator said. Continue reading “BMW to recall over 196,000 US vehicles due to engine starter defect”

LONDON, (Reuters) – Jaguar Land Rover’s production shutdown after a cyberattack is hitting businesses in Britain’s West Midlands region, a survey showed on Friday, with firms already making redundancies or cutting staff hours in response.

The government is considering financial support for the luxury carmaker, which is owned by India’s Tata Motors, after the cyberattack halted production at the start of this month. It has extended the shutdown until October. Continue reading “Jaguar Land Rover shutdown driving suppliers to cut jobs and reduce hours – survey”

BEIJING, (Reuters) – China will require export licences for electric cars from next year, the commerce ministry said on Friday, as it moves to curtail unfair competition from unregulated traders and safeguard the reputation of Chinese auto brands overseas.

Sellers of EVs will be required to follow existing rules that permit only automakers and their authorised companies to apply for export licenses. Gasoline vehicles and hybrids are already subject to licence management under the current framework. Continue reading “China to require EV export permits to safeguard Chinese brand image overseas”

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(Reuters) – Britain’s vehicle production dropped 18.2% in August to 38,693 units, industry data showed on Thursday, with attention now on how a cyberattack that has shut Jaguar Land Rover’s plants will hit September production.

The outage at Britain’s largest carmaker, Jaguar Land Rover, which produces about 1,000 cars a day across three UK factories, has paralysed operations and disrupted the wider supply chain, raising concerns about jobs and the economy. Continue reading “UK car output falls in August as JLR cyberattack threatens September production”

Summary

• US notice lists exemptions for EU aircraft and parts
• EU generic pharmaceuticals, compounds to avoid tariffs
• US confirms exemptions for certain EU natural resources
• German auto shares up on confirmation of 15% tariff rate

WASHINGTON, (Reuters) – President Donald Trump’s administration said on Wednesday it was formally implementing the U.S. trade agreement with the European Union, confirming that a 15% duty rate for EU autos and auto parts began on August 1 and listing tariff exemptions for generic pharmaceuticals, aircraft and aircraft parts. Continue reading “US implements EU trade deal, 15% autos tariffs retroactive to Aug 1”

SYDNEY, (Reuters) – Shares of Chinese car maker Chery Automobile jumped 11.2% as the company started trading on the Hong Kong Stock Exchange on Thursday following its $1.2 billion initial public offering.

Chery, best known for its Chery, Jetour and iCAR brands, is tapping investor appetite as it expands in the competitive electric and smart vehicle market. Continue reading “China’s Chery Automobile shares soar 11.2% in Hong Kong trading debut”

BERLIN, (Reuters) – Germany’s VDA car industry association on Thursday welcomed the United States lowering tariffs retroactively from August 1 but said exporters still faced challenging trade barriers.

“This is an important step,” VDA President Hildegard Mueller said in a statement, after President Donald Trump’s administration said it was formally implementing the U.S. trade agreement with the European Union. Continue reading “German auto lobby welcomes lower US tariffs but says EU must push further”

Summary

• Government weighs support for JLR suppliers after cyberattack
• JLR losing 50 million pounds weekly, production halted
• SMMT, JLR, government collaborate on support measures

LONDON, (Reuters) – Britain’s government is considering throwing a financial lifeline to carmaker Jaguar Land Rover’s suppliers after a shutdown caused by a cyberattack was extended until October, a government source said on Thursday.

The luxury carmaker owned by India’s Tata Motors has three factories in Britain which together produce about 1,000 cars per day. The company is losing at least 50 million pounds ($68 million) a week, according to the BBC, with many of its 33,000 staff told to stay at home. Continue reading “Britain considering support for Jaguar Land Rover’s suppliers”

(Reuters) – Chinese EV maker BYD sold three times as many new cars in the European Union last month than in August 2024, surpassing U.S. competitor Tesla for the second consecutive month, data from the European auto lobby ACEA showed on Thursday.

Stellantis returned to sales growth in Europe for the first time in over a year, as the overall market expanded with a boost from plug-in hybrid (PHEV) and battery-electric (BEV) sales. Continue reading “BYD outsells Tesla in EU for second month, Stellantis returns to sales growth”

Source : PTI | Murugappa Group firm Montra Electric HCV (IPL Tech) on Wednesday said it is set to unveil its advanced electric heavy commercial manufacturing facility at Manesar in Haryana.

This will be Montra Electric HCV’s first all-women fully automated battery production unit, the company said. Continue reading “Montra Electric to unveil eHCV commercial manufacturing plant in Manesar”

Source : PTI | Renewable energy solutions provider Suzlon on Wednesday said it will transition its entire vehicular fleet to electric mobility by 2035.

After committing to power all its facilities with 100 per cent renewable energy by 2030, Suzlon has taken another bold step in its sustainability journey by joining the global EV100 initiative of Climate Group, a company statement said.

Continue reading “Suzlon to switch entire fleet to EVs by 2035”

BERLIN, (Reuters) – Mercedes-Benz announced changes to its top management on Wednesday, replacing chief technology officer Markus Schaefer with head of production Joerg Burzer, as it pursues cost efficiencies with a younger board.

Burzer, aged 55, will assume responsibility for development and procurement and take on the CTO role from the beginning of December together, the German company said in a statement. Continue reading “Mercedes appoints new technology, production chiefs”

(Reuters) – The U.S. National Highway Traffic Safety Administration said on Wednesday it had opened a preliminary evaluation into 17,198 Rivian electric delivery vans over seat belt concerns.

The probe focuses on the driver’s front outboard seat belt anchorage system, which uses a steel-braided cable to secure the belt to the seat frame. Continue reading “US auto safety regulator opens probe into 17,000 Rivian delivery vans”

Summary

• Automakers warn EV tax credit expiration impacts industry investment
• Automakers seek feasible revisions to Biden’s emissions rules
• Automakers fear loss of battery production tax credit next year
• Democrats, environmentalists urge EPA to maintain current emissions rules

WASHINGTON, (Reuters) – A group representing nearly all major automakers asked the Trump administration Tuesday to roll back aggressive vehicle emissions limits that seek to force the industry to build a rising number of electric vehicles. Continue reading “Major automakers call for EPA to ease tailpipe emissions rules”

(Reuters) – Ford Motor Co is recalling 115,539 vehicles in the U.S. due to a defect that could cause the steering column’s upper shaft to detach, the U.S. National Highway Traffic Safety Administration said on Wednesday.

The issue, which can potentially lead to a loss of steering control, affects vehicles from model years 2020 through 2021, and includes F-250, F-350, and F-450 vehicles, the U.S. auto safety regulator said. Continue reading “Ford to recall over 115,500 US vehicles due to steering column defect”

Summary

• Review will scrutinise whether automaker’s suppliers paid on time
• French government department has asked for detailed financial records for 2024
• Nissan says it is cooperating with the request for information

TOKYO, (Reuters) – The French government is reviewing whether Nissan’s European business paid suppliers on time, and it has asked the automaker to submit extensive financial records for 2024, correspondence reviewed by Reuters showed. Continue reading “Exclusive: France to review Nissan Europe’s supplier payments, letter shows”

Source : PTI | Tata Motors on Tuesday said its dealers retailed around 10,000 passenger vehicles on the first day of Navratri amid a drop in vehicle prices due to a revamped GST regime.

The Mumbai-based auto major also recorded over 25,000 customer enquiries at its passenger vehicle dealerships across the country. Continue reading “Tata Motors records 10k passenger car retails on first day of Navratri”

Source : PTI | Lower rates of Goods and Services Tax (GST) that took effect from Monday are expected to boost sales of light commercial vehicles (LCVs) by 25 to 30 per cent during the festival season between September and October, a senior official of Ashok Leyland said on Tuesday.

“The move to reduce GST rates is a historic tax reform of this century. We expect this to lead to a 25 to 30 per cent increase in LCV sales during the current festive season between September and October compared to the same period last year,” Viplav Shah, head of LCV business at the Hinduja Group’s flagship firm, told reporters here. Continue reading “GST cut to increase sales of light commercial vehicles by 30% during festivals: Ashok Leyland official”

Summary

• Will start production of new next-gen hybrid model before 2030
• In addition to plans of producing XC60 by late 2026
• Volvo Cars currently produce EX90 and Polestar 3 at factory

STOCKHOLM/DETROIT (Reuters) – Volvo Cars said on Tuesday it will begin producing a new hybrid model in the United States by the end of this decade as the Swedish auto maker continues to adjust to President Donald Trump’s tariff policies.

The new model, details of which have yet to be released, will be designed for the U.S. market and help Volvo boost the capacity utilisation at its South Carolina plant, the company said in a statement. Continue reading “Volvo Cars to produce new US model amid tariff pressure”

Summary

• JLR extends factory shutdown to October
• Breach leaves suppliers and staff facing uncertainty
• Government steps in to support JLR, supply chain
• Incident latest in string of cyberattacks globally

LONDON, (Reuters) – Britain’s biggest carmaker Jaguar Land Rover is extending the closure of its factories until October 1 following a cyberattack in early September that has left its operations paralysed and smaller suppliers struggling.

The luxury carmaker, owned by India’s Tata Motors has three factories in Britain, which together produce about 1,000 cars per day. The company is losing 50 million pounds ($68 million) a week, according to the BBC, with many of its 33,000 staff told to stay at home. Continue reading “UK’s Jaguar Land Rover cyberattack shutdown to hit four weeks”

(Reuters) – Stellantis detected unauthorized access to a third-party service provider’s platform that supports its North American customer service operations, the company said in a statement on Sunday.

The automaker said the incident, which is under investigation, exposed only basic contact information and did not involve financial details or sensitive personal data. Stellantis did not specify how many customers were affected. Continue reading “Stellantis detects breach at third-party provider for North American customers”

(Reuters) – China’s Chery Automobile is planning to price its shares at HK$30.75 ($3.96) each to raise $1.2 billion in a Hong Kong initial public offering, two sources with direct knowledge of the matter said on Monday.

The company last week started a bookbuild to sell 297.4 million shares in a price range of HK$27.75 to HK$30.75 each, according to its regulatory filings. Continue reading “China’s Chery Automobile to price shares at top of range in Hong Kong IPO, sources say”

Summary

• Musk promised Bay Area robotaxis but Tesla’s service does not involve autonomous vehicles
• Alarmed regulators pressed Tesla for answers and asked it to clear up ‘public confusion’
• Musk’s robotaxi promises underpin Tesla’s $1 trillion valuation and Musk’s enormous proposed pay package

(Reuters) – Tesla CEO Elon Musk tantalized investors in July with a robotaxi update: After a small-scale test in Austin, Texas, Tesla would rapidly expand driverless cabs to markets including the San Francisco Bay Area, where it was “getting the regulatory permission to launch.” Continue reading “Musk’s robotaxi plans for San Francisco alarmed, confused regulators, emails show”

BEIJING, (Reuters) – Warren Buffett’s Berkshire Hathaway has fully exited Chinese automaker BYD, a filing showed, ending a 17-year investment that grew over 20-fold in value in that period.

The filing by Berkshire’s energy subsidiary recorded the value of its BYD investment as zero as of end-March, down from $415 million at the end of 2024. Continue reading “Warren Buffett’s Berkshire Hathaway exits China’s BYD, filing shows”