HONG KONG, (Reuters) – The founder of Chinese electric vehicle maker Xiaomi said on Tuesday he was “heavy-hearted” after three people were killed in an accident involving one of the company’s SU7s, and said it would fully cooperate with a police investigation.

The incident on March 29 marks the first major accident involving the SU7 sedan, which Xiaomi launched in March last year and which since December has outsold Tesla’s Model 3 on a monthly basis. Continue reading “Xiaomi will cooperate with investigation into fatal EV crash, says founder”

BRUSSELS, (Reuters) – Volkswagen, Stellantis, 13 other carmakers and their car association were fined a total of 458 million euros ($495 million) by EU antitrust regulators on Tuesday for taking part in a vehicle recycling cartel.

The European Commission, which raided the companies three years ago, said the cartel, which involved end-of-life vehicles, took place from May 2002 to September 2017, with automakers association ACEA organising meetings and contacts between the companies. Continue reading “Volkswagen, Stellantis and other carmakers hit with $495 million EU cartel fine”

Summary

• GM’s first-quarter sales up 17%, Ford’s drop 1.3%
• Tariffs may slow auto sales — Cox Automotive
• Potential tariff-related price hikes likely helped

(Reuters) – U.S. buyers snapped up more pickup trucks and sport-utility vehicles in the first quarter from a year earlier in the run-up to President Donald Trump’s tariffs on auto imports, which could raise prices by thousands of dollars. Continue reading “US first-quarter auto sales get a lift from looming Trump tariffs”

Summary

• Yew Tree Consortium to invest 52.5 million pounds
• Chairman Stroll’s stake to rise to 33%, eyes up to 35%
• Aston Martin revises volumes forecast due to tariff impact

(Reuters) – Aston Martin will raise more than 125 million pounds ($161.9 million) through funding from its chairman and the sale of its stake in his Formula One team as it battles ballooning losses and tariffs imposed by U.S. President Donald Trump. Continue reading “Aston Martin gets $162 million funding boost to counter losses, Trump tariffs”

Summary

• Tesla Rome dealership and 17 cars destroyed in fire
• Musk called fire “terrorism” on social media
• Two stores vandalised in Sweden

ROME, (Reuters) – An overnight fire at a Tesla dealership in Rome that destroyed 17 cars was an act of terrorism, the company’s billionaire owner Elon Musk said on Monday. Continue reading “Musk says ‘terrorism’ behind fire at Rome Tesla dealership”

Summary

• Toyota’s hybrid demand outpaces supply, causing global delivery delays
• Tight supply of components affecting Toyota suppliers Aisin, Denso
• Toyota says making efforts to boost production to respond to demand

NEW DELHI/AUSTIN, (Reuters) – Soaring demand for Toyota’s gasoline-electric hybrids has left suppliers struggling to keep pace, leading to shortages of parts and months-long waits for car buyers, according to four people familiar with the situation. Continue reading “Dude, where’s my car? Toyota buyers face long waits amid hybrid boom”

WASHINGTON, (Reuters) – Two Michigan business groups urged President Donald Trump to halt plans to impose sweeping 25% tariffs on imported vehicles and parts, saying it would lead to dramatic price hikes, supply-chain disruptions and pain in the auto-heavy state.

“The increased costs would cause significant disruption throughout the supply chain and, perhaps most importantly, lead to significant price increases to the cost to American consumers for vehicles,” the Detroit Regional Chamber and MichAuto, an automotive and mobility association, said in a letter. Continue reading “Trump’s auto tariffs will lead to autoworker pain, two Michigan business groups say”

Summary

• Samuelsson safe bet amid rising trade tensions
• Volvo vulnerable to Trump auto tariffs
• Chairman Li Shufu under investor pressure
• Shares down 70% since 2021 listing

STOCKHOLM/LONDON, (Reuters) – Volvo Car’s abrupt decision to tap Hakan Samuelsson as its CEO puts the car industry veteran back in charge of steering the automaker through U.S. President Donald Trump’s tariff turbulence and a wobbly transition to electric cars, analysts and investors said. Continue reading “Volvo goes back to car industry basics with surprise CEO switch”

TURIN, Italy, (Reuters) – Stellantis will buy credits from a “pool” led by Tesla also in 2025, to meet European Union’s CO2 reduction requirements, despite Brussels giving carmakers three years to comply, the group’s Europe head said on Saturday.

Carmakers facing tougher EU emissions rules this year agreed to pool their emissions and avoid hefty fines by having firms with lower electric vehicle (EV) sales buy carbon credits from segment leaders including Tesla and Polestar. Continue reading “Stellantis to buy CO2 credits from Tesla ‘pool’ also in 2025, exec says”

Summary

• Automakers may stop selling affordable models, impacting U.S. consumers
• Tariffs could add $3,000-$6,000 to vehicle costs, Cox Automotive predicts
• Automakers face tough decisions on production and supply chains

LONDON/WHITE LAKE, Michigan, (Reuters) – Major automakers can deal with President Donald Trump’s tariffs on U.S. auto imports in a number of ways, but all of them lead to higher prices, fewer choices of models or limits on features for consumers, industry experts said. Continue reading “US car buyers face higher prices, less choice under Trump’s tariffs”

Summary

• Tariffs may increase new car prices, pushing demand to used market
• GM builds affordable models in South Korea, not the US
• Detroit automakers focus on profitable trucks and SUVs
• Tariffs could add $6,000 to Canadian or Mexican-made vehicles
• Experts warn tariffs could harm economy, affect consumer spending

DETROIT, (Reuters) – Working-class car buyers will be the hardest hit by U.S. President Donald Trump’s 25% tariff on imported vehicles because almost all low-cost new cars sold in the United States are built elsewhere. Continue reading “Why Trump’s auto tariffs will hurt his working-class supporters”

WASHINGTON, (Reuters) – U.S. President Donald Trump said on Saturday he did not warn car industry executives against raising prices as tariffs on foreign-made autos come into force, telling NBC News he “couldn’t care less” if they do.

The White House has been preparing to impose new tariffs on a range of consumer goods on April 2, a move that has drawn criticism from international leaders and concerns about potential price increases for consumers. Continue reading “Trump tells NBC he ‘couldn’t care less’ if car makers hike prices due to tariffs”

(Reuters) – Volvo Cars has reappointed Hakan Samuelsson, who served as CEO of the company from 2012 to 2022, as chief executive, after the group warned last month that it could be in for a challenging 2025.

Samuelsson, 74, will succeed Jim Rowan, who will step down on March 31. Samuelsson will serve a two-year term while the group prepares to appoint a long-term successor, it said in a statement on Sunday. Continue reading “Volvo Cars brings back veteran Hakan Samuelsson as CEO”

Tata AutoComp Systems Limited, (“TATAAUTOCOMP”), a leading Indian automotive components manufacturer, has entered into definitive agreements to acquire up to 80% shareholding of Artifex Interior Systems Limited (formerly known as IAC UK).

On completion of this transaction, Artifex, with revenue of GBP 296 million (FY24-25), will join the TATA AutoComp family. Completion of the acquisition is subject to customary closing conditions and approvals. TACO has purchased the majority shareholding from Jaguar Land Rover Ventures Limited, a subsidiary within the Jaguar Land Rover Automotive plc group, which is part of Tata Motors Limited. Continue reading “Tata Autocomp announces acquisition of Artifex Interior Systems Limited”

Summary

• Automakers may stop selling affordable models, impacting U.S. consumers
• Tariffs could add $3,000-$6,000 to vehicle costs, Cox Automotive predicts
• Automakers face tough decisions on production and supply chains

LONDON/WHITE LAKE, Michigan, (Reuters) – Major automakers can deal with President Donald Trump’s tariffs on U.S. auto imports in a number of ways, but all of them lead to higher prices, fewer choices of models or limits on features for consumers, industry experts said. Continue reading “US car buyers face higher prices, less choice under Trump’s tariffs”

Source : PTI | The US has imposed additional import duties on steel and aluminium and the government is evaluating its impact, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said there has been the imposition of these duties on steel and aluminium imports by the US from all countries without any exemption.

“The impact of these duties which are an enhancement over existing such additional duties is being closely evaluated due to the fact that there are no exemptions as compared to exemptions earlier to certain major exporting countries in this sector,” he said.

Continue reading “US Imposes additional tariffs on steel and aluminium : Govt”

Source : PTI | US President Donald Trump’s decision to slap a 25 per cent tariff on all auto imports has cast uncertainty over India’s nearly USD 7 billion of exports to America, which industry fears could squeeze margins. Automobiles and car parts imported to the US would face a 25 per cent tariff starting April 2.

While India is not a big exporter of cars to the US, Tata Motors’ luxury car subsidiary Jaguar Land Rover (JLR) is deeply entrenched in the American market. About 23 per cent of JLR’s over 4,00,000 units sold in FY24 were in the US. These were all exported from its UK plants. Continue reading “Trump’s 25% auto tariffs cast uncertainty over India’s $7 bn component exports”

Summary

• Long-promised duties on autos seen driving up prices, slowing production
• Auto stocks fall on tariff worries; Tesla gains
• Allies consider retaliatory action
• Canada’s Carney pledges to fight US tariffs

OTTAWA/BERLIN, (Reuters) – Canadian Prime Minister Mark Carney said on Thursday that he would respond with unspecified trade actions if U.S. President Donald Trump imposes new auto tariffs that have expanded a global trade war and hammered stocks. Continue reading “Canada will respond to Trump auto tariffs with its own trade actions”

Summary

• Toyota’s global production, sales rose 6% y/y in February
• Domestic production up 16%, overseas output less than 1% higher
• Sales in Japan rise 28%, overseas sales up 2%

TOKYO, (Reuters) – Toyota Motor said on Friday its global production rose for the second consecutive month in February, driven by higher output and stronger sales in Japan after recovering from a certification scandal in its home market last year. Continue reading “Toyota’s global output rises for second month in February on solid Japan sales”

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Summary

• Pre-bookings open for the all-new Tiguan R-Line, the latest generation of the brand’s premium SUV and global best-seller now in India with striking R-inspired design and top of the line features
• Volkswagen will also launch the Golf GTI Mk 8.5 in Q2’2025, customers can now express their interest to purchase the most powerful Golf GTI yet, which will be available for purchase through online channels exclusively
• The Tiguan R-Line offers stylish performance with a powerful 2.0 l TSI petrol engine with 4 MOTION technology that produces 204 PS of power and 320 Nm of torque

Mumbai: Volkswagen India has today opened pre-bookings for the highly anticipated all-new Tiguan R-Line, bringing this global best-seller from the brand closer to Indian customers. Customers can secure their pre-bookings at Volkswagen dealerships nationwide or through the company’s official website. In addition, the company has also commenced accepting customer interest for the Golf GTI on its official website. The launch of these iconic models in India, underscores the brand’s commitment to delivering advanced and global cars for Indian customers that embody superior engineering, performance and innovation. Continue reading “Volkswagen India commences pre-bookings for the all-new Tiguan R-Line, launching in April 2025”

(Reuters) – U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.

Here is some global reaction.

ELON MUSK, TESLA CEO

“Important to note that Tesla is not unscathed here. The tariff impact on Tesla is still significant. Continue reading “Trump’s 25% car tariff ignites international criticism”

Summary

• Tariffs could reduce auto trade by 15% at key port, provider says
• Carmakers, suppliers call for political solution
• Foreign automakers warn costs in US will rise, jobs at stake
• Shares in US, European automakers slide

BERLIN/DETROIT, (Reuters) – The United States’ announcement of a 25% tariff on auto imports rippled throughout the world on Thursday, as global vehicle suppliers warned of immediate price hikes and dealers raised fears of job losses in countries with a large car industry. Continue reading “Planned US auto tariffs shake global industry as price hikes, job losses loom”

Summary

• Long-promised duties on autos seen driving up prices, slowing production
• Auto stocks fall on tariff worries
• Allies consider retaliatory action
• German minister calls for tough response
• US-Europe ties already under strain

WASHINGTON/TOKYO/BERLIN, (Reuters) – Governments from Ottawa to Paris threatened retaliation on Thursday after U.S. President Donald Trump unveiled a 25% tariff on imported vehicles, expanding a global trade war, hammering stocks and testing already strained ties with allies. Continue reading “Trump auto tariffs: President slaps 25% duties on car imports to US”

Source : PTI | French tyre major Michelin is seeking continuity in passenger vehicle tyre imports into India till production ramps up at its upcoming Chennai-based plant over the next few years, according to CEO Florent Menegaux. The Clermont-Ferrand-based firm, which reported a revenue of 27.2 billion euro last year, is in talks with the Indian government to extend its import licence for passenger vehicle tyres till the time local production matures in the country.

The company is setting up production capacity for passenger vehicle tyres at its Chennai facility at an investment of Rs 564 crore. Continue reading “Looking at import continuity for PV tyres till production ramps up at Chennai plant: Michelin CEO”

Source : PTI | A total of 25,000 km of two-lane highways in the country will be converted into four lanes for ₹10 lakh crore, and it will help reduce accidents on the roads significantly, Union Road Transport and Highways Minister Nitin Gadkari said in Lok Sabha on Thursday. Gadkari also said that 16,000 km of national highways will also be converted into six lanes for ₹6 lakh crore.

‘We are planning to convert 25,000 km of two-lane highways into four-lane highways at a cost of ₹10 lakh crore. The DPRs (detailed project reports) of the projects are getting ready and we are hopeful to complete the work in two years,’ he said during Question Hour. Continue reading “India to expand 25,000 km of highways to four lanes for enhanced road safety”

(Reuters) – Tesla CEO Elon Musk said on Wednesday that the impact of U.S. President Donald Trump’s auto tariffs on Tesla is “significant.”

“Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant,” Musk said in a post on X. Continue reading “Musk says impact of auto tariffs on Tesla is ‘significant’”

Summary

• Trump announced 25% tariffs on autos, components on Wednesday
• US Commerce probe in 2019 found imports harmed national security
• US imported $474 billion of autos and parts in 2024

WASHINGTON, (Reuters) – U.S. President Donald Trump on Wednesday announced25% tariffs on auto and auto parts after concluding that automotive imports continue to threaten the country’s industrial base and national security. Continue reading “Trump uses 2019 national security probe to justify tariffs on auto imports”

Summary

• Canada could impose retaliatory tariffs against US, Carney says
• Carney to convene cabinet meeting for response strategy
• Ontario Premier Ford advocates strong response to US tariffs

OTTAWA, (Reuters) – Canada will soon respond to new tariffs on imported vehicles announced by U.S. President Donald Trump and could impose retaliatory measures against the United States, Prime Minister Mark Carney said on Wednesday. Continue reading “Canada will react to Trump’s ‘attack’ soon, could impose tariffs, says Carney”

(Reuters) – U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.

Here are some reactions to the ruling. Continue reading “Reactions to Trump auto tariffs”

Summary

• Foreign automakers warn costs in US will rise, jobs at stake
• US car plants could see 30% drop in output – analyst
• Canada, Mexico car plants face hit to profits – analyst
• GM, Ford, Stellantis, Asian carmakers’ shares slide

DETROIT/WASHINGTON, (Reuters) – U.S. automakers and their global rivals were rocked on Wednesday by President Donald Trump’s announcement that he would impose 25% tariffs on all vehicles and foreign-made auto parts imported into the United States. Continue reading “Auto industry rocked by Trump’s 25% tariffs on US imports”

Summary

• Long-promised duties on autos seen driving up prices, slowing production
• Auto stocks lead market fall on tariff worries
• Allies in Canada, Asia consider retaliatory action
• Car tariffs to go into effect after midnight April 3, White House official says

WASHINGTON/TOKYO, (Reuters) – Asian auto stocks led markets lower on Thursday after U.S. President Donald Trump unveiled a 25% tariff on imported vehicles, expanding a global trade war and prompting criticism and threats of retaliation from affected U.S. allies. Continue reading “Trump auto tariffs: President slaps 25% duties on car imports to US”

(Reuters) – U.S. videogame retailer GameStop said on Tuesday it would include bitcoin as a treasury reserve asset to diversify its corporate holdings, betting on the world’s biggest cryptocurrency to help turnaround its struggling primary business.

U.S. President Donald Trump had signed an executive order earlier this month to establish a strategic bitcoin reserve using tokens already owned by the government. Continue reading “Cryptocurrency holdings of US companies”

ANKARA/BEIJING, (Reuters) – Turkey said on Wednesday that Chery Automobile’s partners will invest $1 billion in a manufacturing facility in the country with an annual capacity to produce 200,000 vehicles a year.

The Chinese company, one of the world’s top automakers, immediately issued a statement denying that it planned to build a factory in Turkey. Continue reading “Turkey says Chery Auto’s partners to invest $1 bln in plant to make 200,000 cars/year”

Summary

• EU, India negotiating with Trump team to avoid April 2 tariffs
• EU’s Sefcovic says US tariffs unjustified, ‘hard work goes on’
• Canada not rushing to table, wants serious talks, Carney says
• White House cautious about early relief from reciprocal tariffs

WASHINGTON, (Reuters) – The European Union’s trade commissioner Maros Sefcovic met with U.S. President Donald Trump’s top trade officials on Tuesday to try to avoid steep U.S. tariffs on EU goods next week, but results of the talks were unclear. Continue reading “EU trade chief meets with Trump officials to try to head off ‘harmful’ tariffs”

Summary

• Tesla’s market share falls to 1.8%, down from 2.8% last year
• Tesla sold fewer than 17,000 cars in Europe in February, versus over 28,000 in February 2024
• Elon Musk’s political controversies may have impacted Tesla’s European sales
• Overall BEV sales in Europe rise despite Tesla’s decline

(Reuters) – Tesla’s market share in Europe continued to shrink in February as sales of the all-electric car maker dropped for a second month even as EV registrations overall on the continent grew. Continue reading “Tesla’s sales and market share in Europe drop again in February”

SYDNEY/BEIJING, (Reuters) – Chinese battery giant CATL said it had received approval from China’s securities regulator for a share sale in Hong Kong that sources have said could raise at least $5 billion, the largest listing in the city for four years.

The Shenzhen-listed firm plans to issue not more than around 220 million shares on the Hong Kong Stock Exchange, it said in a statement on Tuesday. Continue reading “China’s CATL Hong Kong listing approved, sources say it could raise at least $5 billion”

Summary

• Porsche SE could add new core investment – chairman
• New investments should benefit existing holdings – board member
• Defence, infrastructure possible areas of interest
• No plans to sell shares in Volkswagen, Porsche AG – chairman

BERLIN, (Reuters) – Porsche SE Volkswagen’s largest shareholder, is eyeing defence and infrastructure as possible new long-term investment areas, it said on Wednesday, adding there were no plans to sell shares in Volkswagen or Porsche AG. Continue reading “Volkswagen shareholder Porsche SE eyes defence, infrastructure for new investments”

Summary

• Rift opened in 2018 during Musk bid to take Tesla private
• Saudi Arabia’s PIF invested in EV startup Lucid after rift
• Kingdom is the Gulf region’s largest market
• Feud started easing after Trump elected

RIYADH, (Reuters) – Tesla will start sales in Saudi Arabia next month, the electric carmaker said on its website, signalling CEO Elon Musk and the kingdom have healed a rift that dates back to the billionaire’s short-lived bid in 2018 to take the company private. Continue reading “Tesla to launch in Saudi Arabia as Musk and the kingdom mend relations”

Source : PTI | Goldman Sachs on Tuesday bought shares of auto components major Samvardhana Motherson International for Rs 87 crore through an open market transaction. American multinational Goldman Sachs through its arm — Goldman Sachs (Singapore) Pte — purchased 65.48 lakh shares of Samvardhana Motherson International, as per the block deal data on the BSE.

The shares were picked up at an average price of Rs 132.7 apiece, taking the transaction value to Rs 86.90 crore. Continue reading “Goldman Sachs buys Samvardhana Motherson International’s shares for Rs 87 cr”