TOKYO, (Reuters) – Honda Motor reported a 50% drop in first-quarter operating profit on Wednesday, as a stronger yen and the impact of U.S. President Donald Trump’s tariffs took its toll, but the company raised its full-year forecast.

Japan’s second-biggest car maker said quarterly operating profit was 244.2 billion yen ($1.66 billion) in the April-June period, more than a fifth below the average estimate of 311.7 billion yen in a survey of seven analysts by LSEG. Continue reading “Honda Q1 operating profit halves on tariffs, but lifts full-year forecast”

Summary

• Uber One program boosts user engagement, bookings
• Company announces $20 billion stock buyback program
• Uber projects Q3 bookings above estimates

(Reuters) – Uber unveiled a $20 billion stock buyback program and forecast its third-quarter bookings above Wall Street estimates on Wednesday, as the ride-hailing and delivery services company benefits from growing adoption of its paid loyalty program. Continue reading “Uber bets on loyalty program to drive growth, unveils $20 billion buyback plan”

(Reuters) – General Motors has entered into a multi-year deal under which Noveon Magnetics will supply rare earth magnets for use in components of the automaker’s full-size SUVs and trucks, the magnet maker said on Wednesday.

China controls more than 90% of global rare earth processing capacity and imposed new export licensing rules in April, tightening supply to Western manufacturers of everything from cars and fighter jets to household appliances. Continue reading “GM signs rare earth magnet deal with Noveon Magnetics”

(Reuters) – U.S. President Donald Trump’s tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.

Here is a timeline of the major developments:

February 1 – Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China, demanding they curb the flow of fentanyl and illegal immigrants into the U.S. Continue reading “Major developments in Trump’s trade war”

(Reuters) – Australia’s Infomedia said on Wednesday it had agreed to be acquired by the Asia-focused private equity arm of asset manager TPG for an equity value of A$651 million ($421.33 million).

Under the deal, shareholders in the ASX-listed firm would receive A$1.72 per share, reflecting a more than 30% premium as compared to the stock’s closing price on Tuesday. Continue reading “TPG to buy Australian automotive software firm Infomedia for over $420 million”

Summary

• Nissan employs 560 at Europe regional office
• Negotiations expected to conclude in October
• Nissan has embarked on a sweeping restructuring

TOKYO, (Reuters) – Nissan Motor has begun negotiations with the union representing staff at its European regional office about changes that will include job losses, according to a company document and internal emails. Continue reading “Nissan begins talks with union to cut jobs at European regional office”

Summary

• China export curbs hurt Rivian’s production in Q2, raising costs
• Regulatory credit revenue decline affects Rivian’s loss forecast
• Lucid cuts FY production forecast
• Lucid’s tariff-related costs hurt profit margin

(Reuters) – Rivian and Lucid posted disappointing quarterly earnings on Tuesday and provided a grim outlook for the year as the electric vehicle makers take a hit from policy shifts and trade tensions that have disrupted the industry. Continue reading “Rivian, Lucid warn of bumpy road ahead as policy changes hurt”

Source : PTI | Wheels India Ltd on Tuesday said its decision to establish a subsidiary in Europe is aimed at driving business growth in the region over the next three to five years.

In July, the company announced plans to set up a European arm with a share capital of 50,000 Euros to support its expansion strategy and strengthen customer engagement in the region. Continue reading “Wheels India eyes growth in Europe with new subsidiary: Official”

Summary

• Convincing regulators about Autopilot safety could be tough after verdict
• Jury decision follows years of Autopilot-related probes, recalls
• Robotaxi success crucial for Tesla amid cooling EV demand

SAN FRANCISCO, (Reuters) – A court verdict against Tesla last week, stemming from a fatal 2019 crash of an Autopilot-equipped Model S, could hurt its plans to expand its nascent robotaxi network and intensify concerns over the safety of its autonomous vehicle technology. Continue reading “Autopilot verdict deals Tesla a ‘black eye’, threatens Musk’s robotaxi ambitions”

Summary

• Genstar taps Evercore for OEConnection sale process
• Sale process expected to launch in Q4 2025
• Ford and GM hold minority stakes in OEConnection

(Reuters) – Genstar Capital is exploring a sale of OEConnection, which it aims to value the automotive software provider also backed by Ford and General Motors at as much as $5 billion, including debt, people familiar with the matter said. Continue reading “Exclusive: Genstar explores $5 billion sale of automotive software maker OEConnection, sources say”

Summary

• Nissan employs 560 at Europe regional office
• Negotiations expected to conclude in October
• Nissan has embarked on a sweeping restructuring

TOKYO, (Reuters) – Nissan Motor has begun negotiations with the union representing staff at its European regional office about changes that will include job losses, according to a company document and internal emails. Continue reading “Nissan begins talks with union to cut jobs at European regional office”

Summary

• Toyota’s operating profit forecast to drop 31% y/y, Honda’s by 36%
• Both companies continue to benefit from robust hybrid demand
• Investors eye guidance on pricing, wider strategy

TOKYO, (Reuters) – Toyota Motor and Honda Motor are expected to report weaker first-quarter earnings this week, as U.S. import tariffs and a stronger yen weigh on profits despite solid demand for hybrids in their biggest overseas markets. Continue reading “Toyota, Honda brace for profit falls as US tariffs, strong yen weigh”

Source : PTI | Global EV giant Tesla on Monday launched its first charging facility in the country weeks after entering the Indian market with an Experience Centre in the financial capital.

The Tesla charging station set up at One BKC in the Bandra-Kurla Complex, features four V4 supercharging stalls (DC charging) and four destination charging stalls (AC charging), the company said. Continue reading “Tesla launches first charging facility at Bandra-Kurla Complex in Mumbai”

Summary

• Household vehicle-registration data shows fewer Tesla owners are opting for another one
• The EV maker for years had the highest customer loyalty in the industry
• Tesla also loses ground in its ability to win over customers from other brands

LOS ANGELES, (Reuters) – Tesla for years had more repeat U.S. customers than any other major automotive brand but its loyalty has plunged since CEO Elon Musk endorsed President Donald Trump last summer, according to data from research firm S&P Global Mobility shared exclusively with Reuters. Continue reading “Exclusive: Tesla’s brand loyalty collapsed after Musk backed Trump, data shows”

Summary

• Tesla grants 96 million new shares to Musk
• Award vests only if Musk remains in a key executive role for two years
• New shares will be forfeited if court restores Musk’s voided 2018 pay package
• Stock rises 2% as analysts say it removes uncertainty over future

(Reuters) – Tesla has granted CEO Elon Musk shares worth about $29 billion in a new pay deal aimed at keeping the billionaire entrepreneur at the helm during a crucial pivot from its struggling core auto business to robotaxis and humanoid robots. Continue reading “Tesla approves share award worth $29 billion to CEO Elon Musk”

Summary

• Lyft partners with Baidu for European robotaxi deployment
• Firms aim to scale robotaxi fleet to thousands across Europe
• Lyft to manage customer services while Baidu supplies vehicles

(Reuters) – U.S. ride-hailing company Lyft said on Monday it will partner with China’s Baidu to deploy robotaxis across Europe starting next year, marking the Chinese search engine giant’s first foray into the European self-driven taxi sector. Continue reading “Lyft, China’s Baidu to launch robotaxi service in Europe next year”

TAIPEI, (Reuters) – Taiwan’s Foxconn said on Monday it had struck a deal to sell a former car factory at Lordstown, Ohio, for $375 million, including its machinery, but said it would continue to use the site to make a broader range of products aligned with its strategic priorities.

Foxconn, which makes data center products for Nvidia and assembles iPhones for Apple did not elaborate on products to be manufactured at the plant, but said the cloud and networking product business in particularly showed “significant growth”. Continue reading “Foxconn agrees $375 mln Lordstown plant sale to pivot towards data centres”

Summary

• Indian plant has initial capacity to build 50,000 vehicles annually
• Plant has received orders from Sri Lanka, Nepal, Mauritius
• Indian market to be key test for struggling automaker

THOOTHUKUDI, India, (Reuters) – Vietnamese electric vehicle maker VinFast began operations at a new plant in India, its first overseas factory, on Monday, and said it hopes to source more parts locally and that it had received orders from Sri Lanka, Nepal and Mauritius. Continue reading “VinFast in talks to boost India sourcing as its first overseas plant swings into gear”

Summary

• Genstar taps Evercore for OEConnection sale process
• Sale process expected to launch in Q4 2025
• Ford and GM hold minority stakes in OEConnection

(Reuters) – Genstar Capital is exploring a sale of OEConnection, which it aims to value the automotive software provider also backed by Ford and General Motors at as much as $5 billion, including debt, people familiar with the matter said. Continue reading “Exclusive: Genstar explores $5 billion sale of automotive software maker OEConnection, sources say”

(Reuters) – Harley-Davidson said on Monday Topgolf’s Arthur Starrs would succeed Jochen Zeitz as CEO, to help steer the storied motorcycle maker through U.S. tariffs and slowing demand for its cruiser bikes.

Starrs, currently the CEO of sports entertainment company Topgolf International, is taking the reins at Harley as the sector faces cost pressures on imported parts and components due to U.S. President Donald Trump’s broad tariffs. Continue reading “Harley-Davidson names Topgolf’s Arthur Starrs as CEO”

(Reuters) – Kia America has recalled about 201,149 Telluride vehicles in the U.S. as the door belt molding trim can delaminate and detach from the vehicle, the U.S. National Highway Traffic Safety Administration said on Saturday. Continue reading “Kia America recalls 201,149 US Telluride vehicles”

Source : PTI | Swedish luxury carmaker Volvo is currently not looking at availing of benefits under India’s scheme to promote passenger electric vehicles due to existing scale of the industry and will consider bringing plug-in hybrid vehicles in the country if the tax structure is conducive, a top official of its Indian arm said on Friday.

Volvo Car India, which launched the refreshed version of its best selling model XC60 in India at an introductory price of ₹71.9 lakh, believes that the entry of new players like Tesla is good for popularising electric vehicles. Continue reading “Currently not looking at getting benefits of EV promotion scheme: Volvo Car India MD”

Source : PTI | Mahindra & Mahindra plans to manage rare earth magnet supplies through alternative sourcing channels for the next nine months and will pursue ‘engineering efforts’ to address the raw material shortage situation amid growing product portfolio, according to a senior company executive.

The imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting the user industries, including the auto and electronics sectors. Continue reading “Mahindra to pursue engineering actions to address rare earth magnet shortage issue: CFO Amarjyoti Barua”

Summary

• Verdict could lead to more lawsuits, experts say
• One died, one injured in Model S crash in 2019
• Tesla to appeal, blames driver
• Tesla shares down 1.8% on Friday, 25% this year

(Reuters) – A Florida jury on Friday found Tesla liable to pay $243 million to victims of a 2019 fatal crash of an Autopilot-equipped Model S, a verdict that could encourage more legal action against Elon Musk’s electric vehicle company. Continue reading “Tesla ordered by Florida jury to pay $243 million in fatal Autopilot crash”

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Continue reading “WAF Auto News | The Auto World This Week (1st August 2025)”

Summary

• Uber says receipts contained factual, formatting errors
• Passengers’ lawyers reviewing Uber’s claims
• Uber faces thousands of passenger lawsuits

(Reuters) – Uber said it found more than 100 instances in which passengers who claimed its drivers sexually assaulted or harassed them offered bogus or doctored receipts to prove ridership, or did not explain their inability to provide receipts. Continue reading “Uber says some sexual assault accusers submitted fake receipts”

LONDON, (Reuters) – Jaguar Land Rover chief Adrian Mardell will step down after more than three decades at the company, having said he wanted to retire after three years as CEO, a spokesperson for the automaker said on Thursday.

His successor will be announced in due course, the spokesperson added. Continue reading “Jaguar Land Rover says CEO Mardell to step down”

Summary

• Royal Enfield owner faced rare earth magnet shortage in Q1
• Eicher replaced rare earths with alternate materials
• Eicher’s profit topped estimates on strong demand

(Reuters) – India’s Eicher Motors reported that a shortage of rare earth magnets disrupted its first-quarter production of performance motorcycles due to China’s export ban on the key component, prompting the company to switch to alternative materials. Continue reading “India’s Royal Enfield maker briefly hit by rare earth magnet shortage, secures alternative, executive says”

MILAN, (Reuters) – Luxury sports-car maker Ferrari said on Thursday its core earnings rose 6% in the second quarter, supported by strong pricing power and richer product offerings, while seeing a reduced impacts from new U.S. tariffs on EU-made products.

As part of a wider trade agreement, the United States and the European Union on Sunday agreed on a 15% tariff on imports of EU made products. Continue reading “Ferrari sees lower impact from U.S. tariffs, confirms guidance”

JSW Motors has entered a strategic partnership with KPIT Technologies to create a digital foundation for its upcoming portfolio of New Energy Vehicles (NEVs). The collaboration brings together JSW Motors’ manufacturing investment and KPIT’s deep expertise in software-defined vehicles (SDVs), battery systems and electric propulsion, which have been built over two decades and more than 2,000 global vehicle production programmes. Continue reading “JSW Motors & KPIT Technologies Form Strategic Partnership”