Source : PTI | Rating agency ICRA expects India Inc to report muted revenue growth of 5-6 per cent in the second quarter of the fiscal as against 5.5 per cent in the preceding three months.
Coupled with softening of input costs such as crude oil and coal, this will result in a steady Operating Profit Margin (OPM) in the range of 18-18.2 per cent on a year-on-year (YoY) basis, it said in a release.
Continue reading “India Inc to report muted revenue growth of 5-6 pc in Q2: ICRA”
TOKYO, (Reuters) – Japanese automaker Mitsubishi Motors cut its operating profit forecast for the current fiscal year by 30% on Wednesday, citing the impact of U.S. import tariffs, weaker sales expectations, and rising selling costs.
The automaker now expects to post an operating profit of 70 billion yen ($475.12 million) for the fiscal year through next March, down from its previous estimate of 100 billion yen. Continue reading “Japan’s Mitsubishi Motors cuts full-year operating profit forecast by 30%”
BRUSSELS, (Reuters) – European Union targets to cut CO2 emissions from vehicles, including a 100% reduction for cars by 2035, are no longer feasible, the heads of the European automobile manufacturers’ and automotive suppliers’ associations said on Wednesday.
European Commission President Ursula von der Leyen is set to host automotive sector executives on September 12 to discuss the future of the sector, which is facing twin threats of Chinese competition in electric vehicles and U.S. tariffs. Continue reading “EU auto groups press for change to ‘no longer feasible’ car CO2 emission targets”
Summary
(Reuters) – AI hype that has helped push U.S. stocks to fresh records this year has driven an explosion in leveraged single stock exchange-traded funds, a universe of speculative products that is likely to be tested by Nvidia’s NVDA.O Wednesday earnings. Continue reading “Nvidia to set tone for booming AI leveraged ETF market”
(Reuters) – Mexico’s government is set to raise tariffs on Chinese imports, including cars, textiles, and plastics, as part of its 2026 budget proposal next month, Bloomberg News reported on Wednesday, citing three people briefed on the matter.
The tariff increases may also target other Asian countries, the report said, citing one of the sources. Continue reading “Mexico set to raise tariffs on imports from China, Bloomberg News reports”
(Reuters) – Ford Motor Company is recalling more than 355,000 trucks in the U.S over a issue with the instrument panel display, the National Highway Traffic Safety Administration said on Wednesday.
The recall affects certain Ford 2025-2026 models – F-550 SD, F-450 SD, F-350 SD, and F-250 SD – and the 2025 F-150. Continue reading “Ford to recall more than 355,000 trucks over instrument panel issue, NHTSA says”
Summary
BERLIN, (Reuters) – Porsche has begun the search for a successor to CEO Oliver Blume, a source close to the matter said, signalling what is likely to be the end of his dual role at the helm of the luxury sports car maker and parent Volkswagen . Continue reading “Porsche begins CEO search likely to end dual VW role, source says”
Start of Production of Maruti Suzuki’s first BEV, e VITARA for sales in over 100 countries and Suzuki’s first Lithium-ion battery, cell & electrode manufacturing in India for strong hybrid electric vehicles – Significant milestones in Make in India and Aatmanirbhar Bharat
Hansalpur / New Delhi : Hon’ble Prime Minister, Shri Narendra Modi, today commemorated the Start of Production of Maruti Suzuki’s first Battery Electric Vehicle (“BEV”), e VITARA, for sales in over 100 countries, at Suzuki Motor Gujarat Private Limited (“SMG”), a wholly owned subsidiary of Maruti Suzuki India Limited (“Maruti Suzuki”). The Hon’ble Prime Minister also celebrated the start of local manufacturing of first Lithium-ion battery, cell & electrode for strong hybrid electric vehicle at TDS Lithium-Ion Battery Gujarat Private Limited (“TDSG”), Maruti Suzuki’s fellow subsidiary. Continue reading “Hon’ble Prime Minister Shri Narendra Modi commemorates two historic firsts in India”
Summary
Aug 26 (Reuters) – The Trump administration’s tariffs have raised manufacturing costs for the $50 billion U.S. heavy-duty truck industry, prompting companies to consider sourcing more components from Mexico to benefit from concessions under the US-Mexico-Canada Agreement (USMCA).
U.S. truck manufacturers currently face 50% tariffs on imported steel, aluminum and copper derivatives under Section 232 of the Trade Expansion Act. In addition, manufacturers like Bellevue, Washington-based Paccar are hit with tariffs on every non-USMCA-compliant part they import. Continue reading “US truck makers look for cover as Trump’s tariffs raise costs”
(Reuters) – Chrysler-parent Stellantis paid $190.6 million in penalties this year for not meeting U.S. fuel economy requirements, according to a government report and the Italian-U.S. automaker.
The National Highway Traffic Safety Administration said in an annual report that Stellantis paid $112.3 million in June and $78.3 million in March in payments for shortfalls from the 2019 and 2020 model years. In total, Stellantis has paid $773.5 million since 2018. Continue reading “Stellantis paid $190.6 million in US fuel economy penalties this year, agency says”
TOKYO, (Reuters) – The pension trust of German automaker Mercedes-Benz has sold its entire stake in Japan’s Nissan Motor for 47.83 billion yen ($324.65 million), a source with direct knowledge of the matter said on Tuesday.
Shares in the Japanese automaker ended the day more than 6% lower, following Mercedes-Benz’s announcement on Monday that it would sell its 3.8% stake. The decline marked the stock’s biggest one-day drop since early July. Continue reading “Mercedes-Benz offloads Nissan stake for $325 million, source says”
SEOUL, (Reuters) – South Korea’s Hyundai Motor Group said in a statement on Tuesday it is increasing U.S. investment to $26 billion from a previously planned $21 billion.
Hyundai Motor Group added that it will establish a state-of-the-art robotics facility with an annual capacity of 30,000 units in the U.S. Continue reading “Hyundai Motor Group increases US investment to $26 billion”
(Reuters) – Billionaire Elon Musk’s electric vehicle company Tesla rejected a $60 million settlement proposal in a lawsuit over the 2019 fatal crash of an Autopilot-equipped Model S before a jury this month awarded a $243 million verdict in the case.
Lawyers for the plaintiffs disclosed the settlement proposal in a filing on Monday in the federal court in Miami, Florida, as part of a request for legal fees from Tesla. Continue reading “Tesla rejected $60 million settlement before losing $243 million Autopilot verdict”
Source : PTI | Private vehicles continue to dominate the roads of Mumbai, with two-wheelers and cars accounting for nearly 88 per cent of the city’s 50 lakh-plus vehicle population, while public transport buses make up less than a per cent, as per a report.
According to the Brihanmumbai Municipal Corporation’s “Environment Status Report 2024-25”, Mumbai’s vehicle population crossed the 50-lakh mark in 2024-25, a gradual rise from 45,37,211 in 2023 and 47,59,976 in 2024 to 50,54,907 as of March 2025. Continue reading “Private vehicles choke Mumbai’s roads, BEST buses account for less than 1%”
Source : PTI | Vedanta group firm Hindustan Zinc Ltd is actively exploring opportunities in rare earth elements and seeking global partners for AI and drone-based exploration of critical minerals, Chairperson Priya Agarwal Hebbar on Monday said.
Addressing the shareholders during the 59th Annual General Meeting, Hebbar said, “Further, we are actively pursuing exploration opportunities in copper, lithium, nickel, cobalt, potash, and rare earth elements, while also looking at neodymium from monazite, antimony, graphite, and germanium.” Continue reading “HZL eyes rare earth elements, seeks global partners for AI, drone-led mineral exploration”
(Reuters) – The National Highway Traffic Safety Administration is opening a probe into more than 1.4 million Honda vehicles sold in the United States over concerns that connecting rod bearing failures in their engines could lead to complete engine failure.
In a letter dated August 20, the regulator said it received 414 reports of the issue in various Honda and Acura vehicles’ 3.5-liter V6 engine. Continue reading “US probes into more than 1.4 million Honda vehicles over engine failure”
BERLIN, (Reuters) – German carmaker Porsche AG has scrapped plans to produce high-performance batteries at its Cellforce unit, citing slow demand for electric vehicles and changed conditions in China and the United States.
The move, which according to a person familiar with the matter will see about 200 of the nearly 300 jobs at the subsidiary cut, is a further blow to European efforts to challenge Asia’s dominance in automotive battery manufacturing. Continue reading “Porsche scraps battery production plans at Cellforce unit”
TOKYO/BERLIN, (Reuters) – The pension trust of Mercedes-Benz will sell off its roughly $346 million shareholding, a 3.8% stake, in Nissan Motor a spokesperson for the German carmaker said on Monday, adding to pressure on the Japanese automaker’s share price.
Japan’s third-largest automaker has been hit by U.S. tariffs, restructuring and lower sales volumes that have contributed to a 24% slide in its share price this year. Continue reading “Mercedes-Benz Pension Trust to sell its 3.8% stake in Nissan Motor”
(Reuters) – Startups worldwide are racing to develop new battery technologies using materials like sodium and sulfur or other innovative chemistries, aiming to cut costs and reduce reliance on some critical minerals to supply electric vehicles (EVs).
China controls 85% of the global battery cell production, and 90% of processing of raw materials used in two lithium-ion variants that dominate today’s EV market. Continue reading “Competing battery technologies shape the EV industry”
Summary
STOCKHOLM, (Reuters) – Silicon Valley startup Lyten will need to convince carmakers it can succeed where bankrupt Swedish EV battery maker Northvolt failed – creating a European champion to reduce the region’s reliance on China.
Lyten, which develops lithium-sulfur batteries, unexpectedly announced on August 7 it was buying Northvolt’s assets, offering a lifeline to future European battery production for electric vehicles. Continue reading “Battery startup Lyten yet to convince carmakers over Northvolt revival”
New Delhi, 25th August 2025: The Society of Indian Automobile Manufacturers (SIAM) organised the 2nd SIAM Automotive Taxation Conference 2025, themed “Drive with Policy Reforms and Innovation to Build Viksit Bharat.” The conference included insightful discussions related to critical role of taxation policies in supporting the growth of India’s automotive sector while contributing to the nation’s economic development; GST compliance – best practices and challenges; and the role of AI & analytics for ease of compliance.
Mr. Shashank Priya, Special Secretary & Member (GST, CX&ST), CBIC, Ministry of Finance, Govt. of India, said, “The Government is working towards GST rate rationalization, towards substantially controlling disputes and boost consumer sentiments. We are looking at early refund of inverted duty structure, focus at more auto-filled data and working on time frame for reconciliation of credit notes.” Continue reading “SIAM Deliberates on Policy Reforms for Automotive Taxation”
(Reuters) – Tesla has raised the price of its most-expensive Cybertruck pickup truck model by $15,000 in the United States despite softer-than-expected sales and recalls.
The sharp increase follows a long-delayed rollout in which the pickup has struggled to meet Tesla’s early promises, with sales so far trailing expectations. Continue reading “Tesla raises price of most-expensive Cybertruck by $15,000 in US”
Summary
WASHINGTON/BRUSSELS, (Reuters) – The European Union will work to ensure lower U.S. tariffs on its car exports are applied retroactively to August 1, the bloc’s trade chief said on Thursday, as the transatlantic partners set out details of a framework trade deal struck in July. Continue reading “EU pushes for reduced US autos tariff from August 1 as joint text limits exemptions”
Summary
GANZHOU, China, (Reuters) – Chinese copper flat wire manufacturer Wellascent’s decision early last year to build a factory in Texas was a hedge against geopolitical risks. Now the investment is paying off as U.S. import tariffs boost demand for its locally produced goods. Continue reading “Texas factory gives Chinese copper firm an edge in tariff war”
Source : PTI | VinFast Auto India on Friday said it has joined hands with State Bank of India to facilitate loans for customers.
The agreement aims to offer a seamless suite of credit solutions ahead of the electric automaker’s first product rollout in the country. Continue reading “VinFast Auto partners with SBI for vehicle finance”
Source : PTI | The domestic tyre industry is likely to register a 7-8 per cent growth in the current fiscal on the back of replacement demand, according to people tracking the sector.
JK Tyre & Industries MD Anshuman Singhania said the Indian tyre industry remains an export-heavy manufacturing sector, with outbound shipments surpassing ₹25,000 crore in FY25. Continue reading “Tyre industry likely to see 7-8% growth in FY26”
Source : PTI | Electric vehicles are exempted from paying toll on the Atal Setu (formerly Mumbai Trans Harbour Link or MTHL), India’s longest sea bridge, an official said on Friday.
The state Urban Development Department, in a notification on Thursday, said that the exemption will apply to electric four-wheelers and electric buses, including those operated by state transport undertakings and private operators.
Continue reading “Electric vehicles exempted from toll on Atal Setu”
Summary
WASHINGTON, (Reuters) – The U.S. auto safety agency said Thursday it would investigate Tesla’s delays in submitting crash reports involving advanced driver-assistance systems or self-driving vehicles.
The National Highway Traffic Safety Administration said it had identified numerous incident crash reports from Tesla that arrived several months or more after those incidents. Continue reading “US probes delays in Tesla crash reports involving driver-assistance systems”
Summary
WASHINGTON/BRUSSELS, (Reuters) – The European Union will work to ensure lower U.S. tariffs on its car exports are applied retroactively to August 1, the bloc’s trade chief said on Thursday, as the transatlantic partners set out details of a framework trade deal struck in July. Continue reading “EU pushes for reduced US autos tariff from August 1 as joint text limits exemptions”
(Reuters) – Alphabet’s robotaxi unit Waymo has received its first permit to begin testing its autonomous vehicles in New York City with a trained specialist behind the wheel, helping the company advance its self-driving ambitions.
Waymo can now begin testing a limited number of its self-driving cars in parts of Manhattan and Downtown Brooklyn, New York City Mayor Eric Adams and Department of Transportation Commissioner Ydanis Rodriguez said on Friday. Continue reading “Waymo gets first permit to test autonomous vehicles in New York City”
BEIJING, (Reuters) – China’s Dongfeng Motor has put its 50% stake in Dongfeng Honda Engine Company up for sale, according to a stock exchange filing on the Guangdong United Assets and Equity Exchange on Monday.
A reserve price has yet to be set. Continue reading “China’s Dongfeng Motor puts its 50% stake in Dongfeng Honda Engine up for sale”
JSW MG Motor India’s luxury channel, MG SELECT, has officially handed over the first batch of the MG Cyberster, the brand’s all-electric roadster, to eight customers in Bengaluru.
The Cyberster, billed as the world’s fastest MG, brings supercar-level performance to the electric era. Equipped with a dual-motor setup generating 503 bhp and 725 Nm of torque, the two-seater convertible can accelerate from 0–100 km/h in just 3.2 seconds Continue reading “MG SELECT Delivers India’s First Cybersters In Bengaluru”
Reuters – Self-driving vehicle startup Nuro closed its late-stage funding round on Thursday, raising $203 million at a $6 billion valuation from new investors Uber (UBER.N), and Nvidia (NVDA.O), alongside returning backers.
The latest tranche of $97 million follows the $106 million announced in April, which included investors such as T. Rowe Price, Fidelity, and Tiger Global. Continue reading “Self-driving vehicle startup Nuro valued at $6 billion in late-stage funding round”
Source : PTI | TVS Motor Company on Thursday expanded its electric commercial vehicle range with the introduction of a three-wheeler for the cargo segment.
The company had forayed into the electric three-wheeler segment earlier this year with the launch of the King EV MAX to cater to the passenger segment. Continue reading “TVS expands electric 3-wheeler portfolio; drives in model to cater to cargo segment”
Source : PTI | JSW Group firm JSW Sarbloh Motors on Thursday said it has formed a joint venture with Tomcar USA for local production of the TX range of all-terrain vehicles in India.
Phoenix, Arizona-based Tomcar is a manufacturer of high-performance all-terrain vehicles (ATVs) designed for military, commercial, and industrial operations. Continue reading “JSW Sarbloh Motors forms JV with Tomcar USA for production of ATV in India”
Reuters – The United States and the European Union agreed a joint statement on the framework trade dealstruck at the end of July to end months of uncertainty for industries and consumers.
Here are the main elements of the statement, produced after weeks of wrangling, spelling out what both sides have agreed to. Continue reading “What’s in Trump’s trade deal with Europe?”
Kochi: Volkswagen India announced the launch of a new ‘Flash Red’ colour option for Virtus and Taigun in Kerala. With the festive season commencing on the auspicious occasion of Onam, Volkswagen has introduced the new bold ‘Flash Red’ colour, Continue reading “Volkswagen India introduces new ‘Flash Red’ colour on Virtus and Taigun in celebration of Onam in Kerala”
Reuters – Tesla has since Monday evacuated part of its plant in Germany after a fire broke out in a building processing battery packs, the Handelsblatt newspaper reported on Thursday, adding there were no injuries or environmental damage. Continue reading “Tesla evacuates part of Germany plant after fire, HB reports”
