Summary

• Swiss machine maker lays off staff after US tariffs
• Pfiffner already struggling due to car industry woes
• Weak German, Chinese demand hits manufacturers

UTZENSTORF, Switzerland, (Reuters) – Norbert Steuer, a logistics worker at Swiss precision machinery maker K.R. Pfiffner, has been at the firm for over three decades. Now he is one of 80 out of 105 staff due to be let go as it reels from U.S. tariffs and a struggling auto industry.

The firm, which makes million-dollar machinery used by carmakers including Mercedes-Benz and suppliers such as Robert Bosch (ROBG.UL), is at the sharp end of a tough European car market that has been buffeted by U.S. President Donald Trump’s trade tariffs and a slowdown in key export market China. Continue reading “Swiss machine maker feels heat from auto sector slowdown, Trump’s tariffs”

Summary

• Cyberattack hits Q2 results
• China demand and luxury tax hurt sales
• JLR generates most of Tata Motors’ profits

(Reuters) – Tata Motors Passenger Vehicles cut its fiscal 2026 margin goal for Jaguar Land Rover on Friday after a cyberattack disrupted production at the luxury automaker, adding to pressure from soft demand in China and chip supply constraints.

JLR, which generates most of Tata Motors’ profits, is grappling with falling demand for premium cars in China and component shortages after chipmaker Nexperia B.V. warned it could no longer guarantee deliveries due to a political standoff between China and the Netherlands. Continue reading “Tata Motors cuts Jaguar Land Rover margin forecast after cyberattack, China woes”

(Reuters) – Chrysler-parent Stellantis is recalling 112,859 U.S. vehicles over possible engine failure or compartment fire, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.

The NHTSA pointed to debris inside the engine as a cause but did not offer more details. Continue reading “Stellantis to recall nearly 113,000 US vehicles, NHTSA says”

Summary

• JAW determined to maintain wage momentum despite U.S. tariff impact
• Kaneko emphasizes wage hikes to sustain consumption and growth cycle
• BOJ monitors wage talks, auto sector crucial for interest rate decisions

TOKYO, (Reuters) – Japan’s top automobile industry union group has no plans to scale back its wage demands at labour talks next year despite a heavy drag on the sector’s earnings from U.S. tariffs, its chief told Reuters on Friday.

The comment from Akihiro Kaneko, president of the Confederation of Japan Automobile Workers’ Unions (JAW), underscores the determination of Japan’s most influential industrial umbrella union to keep wage momentum going into a fourth year. Continue reading “Japan’s automotive union group vows no retreat on wage demands despite tariff pain”

Summary

• Case involves fatal crashes in 2018 and 2019 that killed 346 people
• Boeing had agreed to plead guilty during Biden administration
• Judge said he had no authority to reject deal struck under Trump administration

WASHINGTON, (Reuters) – Families of some victims of two Boeing (BA.N), 737 MAX plane crashes that killed 346 people asked a U.S. appeals court on Thursday to reverse a judge’s decision to approve the Justice Department’s request to dismiss a criminal case against the planemaker. Continue reading “Crash victims’ families appeal US judge’s decision to dismiss Boeing criminal case”

SEOUL, (Reuters) – South Korea’s government said on Friday it would boost subsidies for electric vehicles (EVs) by 20% next year as part of a package to help the country’s auto industry weather risks caused by U.S. tariffs.

The government said in a statement passenger EV subsidies would be increased to 936 billion won ($658.47 million) in 2026, up from 780 billion won this year, in a bid to stimulate local demand. Continue reading “South Korea to boost EV subsidies in 2026 to help auto industry weather US tariffs”

Summary

• Roles to be cut mostly in sales and marketing
• Cuts formalised in October 16 agreement with CFDT union
• Nissan’s European sales slipped 8% over first financial half

TOKYO/PARIS, (Reuters) – Nissan will eliminate 87 positions at its European regional office in France, a company document and internal emails showed, as part of CEO Ivan Espinosa’s global restructuring and turnaround plan that includes a 15% cut in headcount. Continue reading “Nissan to cut jobs at European regional office as part of global overhaul”

(Reuters) – Toyota (7203.T), is recalling 126,691 Tundra and Lexus vehicles in the U.S. over manufacturing debris that may stall the engine, the U.S. National Highway Traffic Safety Administration said on Thursday. Continue reading “Toyota to recall over 126,000 US vehicles over engine stall risk”

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(Reuters) – Toyota is recalling 126,691 Tundra and Lexus vehicles in the U.S. over manufacturing debris that may stall the engine, the U.S. National Highway Traffic Safety Administration said on Thursday.

NHTSA said the remedy is under development and will be performed once available. Continue reading “Toyota to recall over 126,000 US vehicles over engine stall risk”

(Reuters) – Swedish autonomous trucking company Einride said on Wednesday it has agreed to go public in the U.S. through a merger with blank-check firm Legato Merger Corp III in a deal valuing the company at $1.8 billion.

The listing comes after a wave of electric-vehicle startups went public during the pandemic-era SPAC boom with the aim of capitalizing on the huge demand for clean-energy vehicles and government incentives for the purchase of battery-powered cars. Continue reading “Self-driving truck firm Einride to go public via SPAC deal at $1.8 billion valuation”

Summary

• Q3 net loss widens to $365 million from $323 million a year ago
• Revenue jumps 36% in Q3, but tariffs and costs hit margins
• Shares drop as much as 17%

(Reuters) – Polestar reported a wider third-quarter loss on Wednesday and said it would conduct a reverse stock split – reducing the number of its existing shares while increasing their value – in an attempt to retain its Nasdaq listing.

Shares in the company, majority-owned by China’s Geely Holding (GEELY.UL) and chair Li Shufu, dropped as much as 17% in early New York trading. Continue reading “Polestar’s losses widen, aims to keep Nasdaq listing with reverse stock split”

(Reuters) – Toyota Motor said on Wednesday it had begun production at its $13.9 billion North Carolina battery plant as it ramps up hybrid production and confirmed plans to invest $10 billion over five years in U.S. manufacturing.

The Japanese automaker first announced the plan in December 2021 to produce batteries for its hybrid and electric vehicles. Batteries from the plant are set to power hybrid versions of the Camry, Corolla Cross, RAV4 and a yet-to-be-announced all-electric three-row battery electric vehicle. The plant is producing hybrid batteries for factories in Kentucky and a Mazda Toyota joint venture in Alabama. Continue reading “Toyota opens US battery plant, confirms $10 billion investment plan”

(Reuters) – The share of subprime borrowers at least 60 days behind on their auto loans rose to 6.65% in October, the highest level on record, according to Fitch Ratings data going back to the early 1990s.

CONTEXT

Subprime borrowing refers to lending to consumers with lower credit scores or limited credit histories, who are considered higher risk and typically charged higher interest rates to offset the increased likelihood of default. Continue reading “Record number of subprime borrowers miss car loan payments in October, data shows”

Summary

• GM asks parts makers to gradually exit their China supply chains
• U.S.-China tensions prompt automotive supply chain shifts
• Rewiring supply chains from China is costly, complex

DETROIT, (Reuters) – General Motors has directed several thousand of its suppliers to scrub their supply chains of parts from China, four people familiar with the matter said, reflecting automakers’ growing frustration over geopolitical disruptions to their operations.

GM executives have been telling suppliers they should find alternatives to China for their raw materials and parts, with the goal of eventually moving their supply chains out of the country entirely, the people said. The automaker has set a 2027 deadline for some suppliers to dissolve their China sourcing ties, some of the sources said. Continue reading “Exclusive: GM wants parts makers to pull supply chains from China”

BEIJING, (Reuters) – Tesla’s sales in China dropped to 26,006 vehicles in October, their lowest in three years, as the U.S. electric vehicle maker struggles with tepid demand in the hyper-competitive market.

Sales fell 35.8% from a year earlier, down from September’s figure of 71,525 when Tesla began deliveries of the Model Y L, a longer-wheelbase and six-seat version of its best-selling Model Y SUV until now only available in China. Continue reading “Tesla’s China sales fall to 3-year low amid tepid demand”

BEIJING, (Reuters) – Chinese electric vehicle maker BYD aims to sell up to 1.6 million vehicles abroad next year, doubling down on overseas expansions with high double-digit growth from 2025, Citi said in a report on Tuesday.

Overseas sales guidance of 1.5-1.6 million vehicles is up from an expected 900,000 to 1 million vehicles sold outside China in 2025, “with growth driven by new model launches,” the Citi note said, citing a meeting with BYD management on Tuesday. Continue reading “China’s BYD aims to sell up to 1.6 million vehicles abroad in 2026, Citi says”

Summary

• Other investors have also asked for more disclosure
• Proposed buyout would give Toyoda family more influence within the group
• Elliott says one of Toyota Industries’ biggest shareholders

TOKYO, (Reuters) – Toyota Motor’s planned buyout of group firm Toyota Industries is set to face more hurdles after activist investor Elliott Investment Management said it had bought a significant stake in the forklift manufacturer.

Elliott said in a statement that the proposed deal undervalued the company, lacked transparency and fell short of proper governance practices. Other global investors have also asked for more disclosure of the deal that would strengthen the influence of the founding Toyoda family within the group. Continue reading “Toyota’s buyout of group firm faces new obstacle after Elliott takes stake”

Source : PTI | Bike taxi aggregator Rapido expects to start working on the process for public listing by the end of next year, a top company official said.

Rapido cofounder Aravind Sanka told PTI that the company expects to maintain its growth rate of 100 per cent year-on-year for the next few years and be a much larger player compared to its nearest competitor before going for the initial public offering (IPO). Continue reading “Rapido expects to start working on IPO by 2026-end: Cofounder Aravind Sanka”

(Reuters) – Tesla’s head of the Cybertruck program, Siddhant Awasthi, said late on Sunday that he is leaving the U.S. electric vehicle maker after more than eight years with the company.

Awasthi, who began his Tesla journey as an intern, most recently oversaw the Cybertruck program from its engineering phase to large-scale production, leading efforts in product strategy, quality enhancements, and supply chain management, according to his LinkedIn profile. Continue reading “Tesla’s Cybertruck chief Siddhant Awasthi departs after eight years”

(Reuters) – Grab Holdings will invest $60 million in remote driving firm Vay Technology, the Singaporean firm said on Monday, sending its shares up more than 6% in premarket trading.

The company is trying to leverage its ride-hailing platform to tap into autonomous vehicles, which are largely seen as the future of mobility and a potential disruptive force for companies such as Grab and Uber. Continue reading “Singapore’s Grab to invest $60 million in remote driving firm Vay”

BEIJING, (Reuters) – China suspended for one year port fees levied on U.S.-linked vessels, its transport ministry said on Monday, after Washington announced a similar pause on punitive actions against China’s shipping and shipbuilding sectors.

The reciprocated pauses were in line with agreements reached by U.S. President Donald Trump and Chinese President Xi Jinping during a summit in South Korea last month. Continue reading “China suspends port fees on US-linked ships for a year”

(Reuters) – Tesla board chair Robyn Denholm thanked the electric-vehicle maker’s shareholders on Monday for approving CEO Elon Musk’s $878 billion pay package.

The approval marks one of the largest compensation votes in corporate history and underscores investor willingness to bet on Musk’s leadership as Tesla pursues its next phase of growth. Continue reading “Tesla chair thanks investors for approving Musk’s $878 billion pay package”

Summary

• Renault considers Chinese stator supplier for cost saving
• Motor to be made in France, even if uses Chinese component
• Valeo still developing magnet-free motor with Germany’s Mahle

PARIS, (Reuters) – France’s Renault has ended a project with Valeo to develop a new rare-earth-free electric vehicle motor and is looking instead for a cheaper Chinese supplier, two sources familiar with the matter told Reuters.

Automakers including Renault, General Motors and BMW suppliers such as ZF, BorgWarner and Valeo have been developing EV motors which do not require rare earths. Continue reading “Exclusive: Renault seeking Chinese rare-earth-free motor supplier, sources say”

(Reuters) – Tesla’s best-selling Model Y’s program manager, Emmanuel Lamacchia, announced his departure on Sunday after nearly eight years, marking another high-profile exit from Elon Musk’s electric vehicle company.

The departure came hours after the head of Tesla’s Cybertruck program, Siddhant Awasthi, also said he was leaving the company. Awasthi, who started his career at Tesla as an intern eight years ago, played a key role in bringing the stainless-steel pickup to market and recently took over the Model 3 program. Continue reading “Tesla’s Model Y program manager announces exit alongside Cybertruck lead”

Summary

• Honda slashes annual operating profit outlook by a fifth
• Chinese EV makers’ competition poses long-term challenge
• Honda expects to sell fewer cars in Asia outside China this FY
• Company’s shares fall 4.7% on Monday

TOKYO, (Reuters) – Honda’s downgrade to its full-year profit outlook underscores the immediate pressure from U.S. tariffs and global chip shortages – but the deeper, longer-term challenge lies in intensifying competition from Chinese electric vehicle makers.

Japan’s second-largest automaker cut its full-year outlook by a fifth after the market closed on Friday, citing one-off EV costs and a shortage of components using chips from Netherlands-based Nexperia. The Dutch government took control of the company, owned by China’s Wingtech on September 30. Continue reading “Honda’s bigger threat comes from China’s EV makers, not tariffs or chips”

OICA announces the election of Shailesh Chandra, President of the Society of Indian Automobile Manufacturers (SIAM), as its new President, effective November 1, 2025, succeeding John Bozzella, President and CEO of the Alliance for Automotive Innovation (USA). 

Shailesh Chandra said “It is an honour to become the first OICA President from India, which is highlighting the organization’s global representation. As the global automotive industry transitions towards sustainable mobility and pursuits ‘Net Zero’, in alignment with the visions of Governments worldwide, the role of OICA becomes increasingly critical — to acknowledge the diversity of every region, as we collectively strive to make our vehicles more aspirational, safer, and environmentally friendly.” Continue reading “Shailesh Chandra, President of OICA, Hildegard Müller, Vice President”

Summary

• Chinese export exemptions could ease supply pressure
• Aumovio has secured exemption for Nexperia chips
• Honda, Volkswagen say shipments in China have resumed

BERLIN/TOKYO, (Reuters) – (This Nov 7 story has been corrected to say that Volkswagen’s China chief said the industry as a whole, not VW specifically, had received its first consignments of chips, in paragraph 10)

Semiconductor maker Nexperia has resumed some shipments of its vital chips, auto executives said on Friday, with Germany welcoming signs of de-escalation in a fight for control of the company that has rattled the car industry. Continue reading “Some Nexperia chip shipments resume as Germany welcomes ‘de-escalation’”

WASHINGTON, (Reuters) – U.S. economic growth in the fourth quarter could be negative if a federal shutdown drags on, White House economic adviser Kevin Hassett said in an interview that aired on Sunday.

Hassett, speaking to the CBS show “Face the Nation”, noted that a shortage of air traffic controllers was causing major travel delays in the run-up to the Thanksgiving holiday. Continue reading “US fourth-quarter GDP could be negative if shutdown drags on, White House economic adviser says”

Source : PTI | Indian automotive firm TVS Motor Company is looking to enter more markets in Europe, including Spain and Portugal, as part of its global footprint expansion, according to its Chairman Sudarshan Venu.

The company, which made its debut at the global two-wheeler exhibition EICMA 2025 here unveiling six new products across ICE and electric powertrains, feels that with an expanding portfolio it is time for it to tap ‘industrialised markets’, Venu told PTI in an interview. Continue reading “TVS Motor Co gearing up for bigger ride in European markets: Chairman Sudarshan Venu”

Source : PTI | Czech carmaker Skoda plans to bring more of its global nameplates into the Indian market as it looks to cater to a diverse set of customers, according to a senior company executive.

The company, which now sells products in India ranging from over Rs 7 lakh to upwards of Rs 40 lakh, however, has no immediate plans to introduce electric cars in the country. Continue reading “Skoda looks to drive in more global models into India; no immediate plans to get into EVs”

TOKYO, (Reuters) – Honda Motor slashed its full-year profit forecast by 21% on Friday, hurt by one-time electric vehicle costs, worsening sales in China and other Asian markets and a shortage of parts equipped with Nexperia chips.

Japan’s second-largest automaker cut its operating profit forecast for the year through March 2026 to 550 billion yen ($3.65 billion) from 700 billion yen. Continue reading “Honda cuts annual operating profit outlook on EV cost hit, slow Asia sales”

(Reuters) – BlackRock, the world’s biggest asset manager, is winding down a social impact fund that invested in collapsed subprime car lender Tricolor, the Financial Times reported on Friday, citing several people familiar with the decision.

The firm told employees it would close its BlackRock Impact Opportunities fund to new investments after Tricolor filed for bankruptcy in September, the report said. Continue reading “BlackRock to wind down fund that invested in failed car lender Tricolor, FT reports”

(Reuters) – Tesla CEO Elon Musk said he expects the automaker’s Full Self-Driving software, a driver assistance system, will be fully approved in China early next year.

“We have partial approval in China, and hopefully we’ll have a full approval in China around February or March or so,” Musk told the company’s annual general meeting on Thursday.

China’s industry ministry did not immediately respond to a Reuters request for comment. Continue reading “Musk expects Tesla’s Full Self-Driving software to win full China approval in early 2026”

(Reuters) – Honda Motor is recalling 406,290 vehicles in the U.S. over a manufacturing flaw that could cause aluminium alloy wheels to detach, the U.S. National Highway Traffic Safety Administration said on Friday.

The recall covers certain model 2016-2021 Civic vehicles that contain the 18-inch aluminum alloy wheels sold as accessories, the U.S. auto regulator said. Continue reading “Honda to recall over 406,000 US vehicles over wheel detachment issue, NHTSA says”

Summary

• Scaringe’s new pay plan linked to reduced stock price targets
• New package also hinges on new profit, cash flow milestones
• Rivian says aims to align CEO pay with shareholder returns
• Scaringe’s base salary doubled to $2 million

(Reuters) – Electric pickup and SUV maker Rivian said on Friday it was giving its CEO a pay plan worth as much as $4.6 billion over the next decade, a deal similar to Tesla’s record package for CEO Elon Musk, and linked to new profit targets and lower share price milestones than a previous deal.

The move by the Rivian board shows that the Tesla plan for Musk could become a model for companies aiming to grow fast. Rivian’s pay package for its CEO RJ Scaringe could be one of the richest in history, depending on what performance goals are met. Continue reading “EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion”