WASHINGTON, (Reuters) – Tesla said on Wednesday it has built initial versions of an affordable car, a move likely meant to stem the steep decline in sales the company has experienced in markets across the world.

Elon Musk’s electric vehicle maker posted the worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, but its profit margin on making cars was better than many feared. Continue reading “Instant View: Tesla says it started building initial versions of an affordable car, posts a steep sales decline”

Summary

• South Korea finance chief was set to board for Washington when news of delay broke
• Pressure piling on Seoul after Japan clinches trade deal
• Range of sectors, investment projects considered under potential deal remain unclear
• South Korea to propose investment package of at least $100 billion -Yonhap

SEOUL, (Reuters) – Talks between top South Korean and U.S. officials to negotiate over U.S. President Donald Trump’s tariffs have been postponed due to a scheduling conflict for U.S. Treasury Secretary Scott Bessent, South Korea’s finance ministry said on Thursday. Continue reading “US-South Korea trade talks postponed over Bessent schedule as tariff deadline looms”

(Reuters) – Car registrations across Europe declined in June, with a 4.4% year-on-year drop to 1.25 million vehicles, data from Jato Dynamics showed on Wednesday.

While overall demand softened, Chinese automakers continued to gain ground, taking a record market share and squeezing several established European brands, the research data showed. Continue reading “Chinese automakers gain ground in contracting European market, data shows”

Source : PTI | With an aim to enhance safety, the ministry of road transport and highways has proposed to make it mandatory for all haulage tractors to be equipped with Vehicle Location Tracking Devices (VLTD) with effect from October 1, 2026.

The ministry in a draft notification to further amend the Central Motor Vehicles Rules, 1989, said the VLTD shall be integrated with an RFID transceiver, capable of reading radio frequency identification data from the coupled trailer and transmitting it to the backend.

Continue reading “Govt proposes location tracking devices to be mandatory for haulage tractors from October”

TOKYO, (Reuters) – Shares of Japanese automakers surged on Wednesday, with Toyota gaining 11% and Honda advancing 9% after U.S. President Donald Trump said he had struck a trade deal with the Japan that includes a 15% tariff.

In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. Continue reading “Japanese automaker shares jump after Trump trade deal”

WASHINGTON, (Reuters) – A group representing General Motors, Ford and Chrysler-parent Stellantis on Tuesday raised concerns about a trade deal that could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%.

Matt Blunt, who heads the American Automotive Policy Council that represents the Detroit Three automakers, said they were still reviewing the agreement but “any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers.” Continue reading “Detroit Three automakers raise concerns about Japan trade deal”

Summary

• Tesla’s credit revenue faces decline due to policy changes
• Analysts predict Tesla’s credit revenue to drop significantly by 2027
• Tesla’s financials at risk as credit demand and prices fall

SAN FRANCISCO, (Reuters) – A key driver of Tesla’s profit is disappearing fast as the U.S. government changes policies on an environmental asset known as regulatory credits.

Investors are likely to have a number of questions for Chief Executive Elon Musk when Tesla reports second-quarter results on Wednesday. Among them are how fast the EV maker can turn a trial robotaxi program into a money-making business, how to avoid a decline in sales for the second year in a row, and Musk’s possible political plans. Continue reading “Tesla’s easy money from regulatory credits set to dry up amid weakening sales”

(Reuters) – China’s BYD will delay mass production at its new electric vehicle factory in Hungary until 2026 and will run the plant at below capacity for at least the first two years, two sources familiar with the matter said.

At the same time, China’s No. 1 automaker will start making cars earlier than expected at a new plant in Turkey where labour costs are lower, and will vastly exceed its announced production plans, one of the sources said. Continue reading “Exclusive: BYD to delay mass production at new Hungarian plant, make fewer EVs, sources say”

Summary

• South Korea faces pressure to match Japan-U.S. trade deal
• Korean automakers’ shares rise after Japan-U.S. deal
• Seoul to exclude rice, beef, weigh bioethanol imports -Yonhap

SEOUL, (Reuters) – Seoul will take a close look at the terms of a U.S.-Japan trade deal, South Korea’s industry minister said on Wednesday, holding out the prospect of greater cooperation in the energy and industrial sectors ahead of key trade talks in Washington.

Japan and South Korea, manufacturing powerhouses and key U.S. security allies, compete in areas such as autos and steel, so Tokyo’s trade deal will pile pressure on Seoul to reach a similar level of 15%, or better, by an August 1 deadline to avert reciprocal U.S. tariffs of 25%. Continue reading “South Korea to scrutinise US-Japan trade deal as officials fly to Washington”

(Reuters) – Tesla’s electric vehicle registrations in California fell 21.1% in the second quarter, according to industry data, marking the seventh consecutive quarterly drop in the crucial U.S. market.

The automaker’s plunging vehicle registrations come as CEO Elon Musk’s polarizing political activity puts him at odds with the liberal values dominant in the state, which has long been one of Tesla’s key markets. Continue reading “Tesla’s California sales down for seven straight quarters”

PARIS, (Reuters) – Renault reported zero growth in second-quarter sales volume on Wednesday, after a plunge in demand for vans in Europe offset growth in passenger cars.

The French automaker, which had warned last week of weaker than expected June sales volumes, said its second-quarter sales were down 0.1%, despite a raft of new vehicle launches. Continue reading “Renault second-quarter sales volumes flat on drop in demand for vans”

Source : PTI | Delhi government has extended the current Electric Vehicle (EV) Policy until March 31, 2026, as the draft of the new policy will undergo public consultation, which is expected to take time, Transport Minister Pankaj Singh said on Tuesday.

Singh said the policy extension was among the matters listed for Tuesday’s Cabinet meeting, and it has been decided to extend the same. Continue reading “Delhi govt extends current EV policy till March 2026 to facilitate wider public consultation”

BEIJING, (Reuters) – China’s exports of rare earth magnets to the United States in June soared to more than seven times their May level, marking a sharp recovery in the flow of critical minerals used in electric vehicles and wind turbines after a Sino-U.S. trade deal.

Outbound shipments to the United States from the world’s largest producer of rare earth magnets surged to 353 metric tons in June, up 660% from May, data from the General Administration of Customs showed on Sunday. Continue reading “China’s exports of rare earth magnets to the US surge in June”

(Reuters) – The National Highway Traffic Safety Administration said on Monday that it is closing a preliminary evaluation into 454,840 Nissan vehicles over engine failure after the Japanese automaker issued a recall in June.

The probe, which was opened in December 2023, alleged that engine failures in certain Nissan vehicles were leading to loss of motive power. Consumers also reported engine knocking noises. Continue reading “NHTSA closes engine failure probe into 454,840 Nissan vehicles”

Summary

• Agreement hopes hit by Trump 30% tariff threat, DC talks
• Diplomats say EU members considering anti-coercion powers
• Some EU states still baulk at using ‘nuclear option’

BRUSSELS, (Reuters) – The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. Continue reading “EU to ramp up retaliation plans as US tariff deal prospects dim”

(Reuters) – Tesla on Monday settled a lawsuit against Louisiana and various auto dealerships and trade groups, in which CEO Elon Musk’s electric car company challenged the state’s ban since 2017 on direct vehicle sales to consumers.

According to a dismissal motion filed in New Orleans federal court, Tesla’s claims have been “fully and finally resolved,” with state officials maintaining they were simply doing their jobs and did not violate criminal laws. Continue reading “Tesla settles lawsuit challenging Louisiana direct sales ban”

SHANGHAI, (Reuters) – A publication of China’s top auto industry association said on Monday that its report about China’s industry ministry planning to ban the resale of cars within six months of their initial registration was “inaccurate”, and it deleted that line from its story.

Auto Review, the official media outlet run by the China Association of Automobile Manufacturers, said in a statement to Reuters that its article published on Saturday “contained inaccurate descriptions related to the Ministry of Industry and Information Technology (MIIT) and other relevant authorities concerning zero-mileage used cars.” Continue reading “China auto industry group publication corrects report on ‘zero-mileage’ crackdown plans”

Summary

• H1 net loss 2.3 bln euros versus a 5.6 bln profit year before
• Company estimates US tariffs cost it 300 million euros in H1
• N. America shipments dropped 25% in second quarter yr/yr
• Automaker also hit by restructuring costs
• Shares up after 2% drop in morning trade

MILAN, (Reuters) – Stellantis expects more impact from U.S. tariffs on vehicles and auto part imports in the second half of 2025, the company said on Monday as it reported a preliminary 2.3 billion euro ($2.7 billion) net loss for the first six months of the year. Continue reading “Stellantis sees greater tariff impact after $2.7 bln first-half loss”

Summary

• Neta inflated sales of over 60,000 cars between Jan 2023-March 2024-documents
• Scheme enabled companies to book sales early to meet aggressive targets
• China’s auto industry has been roiled by cutthroat competition, prompting regulatory concern

(Reuters) – Chinese electric vehicle brands Neta and Zeekr inflated sales in recent years to hit aggressive targets, with Neta doing so for more than 60,000 cars, according to documents reviewed by Reuters and interviews with dealers and buyers. Continue reading “Exclusive: China EV brands Zeekr, Neta inflated car sales using insurance scheme”

Source : PTI | India’s petroleum product exports worth $15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said.

The 18th package of sanctions by the 27-nation EU included a set of measures largely aimed at curbing the revenues of Russia’s oil and energy sector, such as an import ban on refined petroleum products made from Russian crude oil and coming from any third country. Continue reading “EU’s Russian oil curbs may hit India’s fuel exports: GTRI”

Source : PTI | Vast AI talent pool and electric vehicle makers’ attitude to adopt artificial intelligence and powerful computing offer a big opportunity in India for MediaTek, a senior company official said.

MediaTek Director for Product Marketing — Automotive Platform — Rita Wu told PTI the semiconductor company is looking to penetrate deeper in India’s automotive sector with a strategic focus on AI, scalable system-on-chips (SoCs), and next-gen connectivity solutions.

Continue reading “MediaTek sees big opportunity as Indian EV makers embrace AI, high-performance computing”

Source : PTI | Russian oil giant Rosneft-backed Nayara Energy on Monday reaffirmed its plan to invest ₹70,000 crore in downstream projects linked to its refinery, while denouncing the latest EU sanctions against it as unjust and harmful to India’s interests.

A day after Rosneft condemned sanctions on its Indian unit, Nayara Energy, as unjustified, illegal, and a direct threat to India’s energy security, Nayara in a statement said the restrictions “risk disrupting the uninterrupted supply of petroleum products that are essential to millions of Indian citizens and industries”. Continue reading “Nayara Energy to invest ₹70,000 cr in India; says EU sanctions go against India’s interests”

Source : PTI | Ashok Leyland will follow a proactive approach to navigate emerging global and industry trends including electrification and supply chain challenges as it remains in hunt to be among the world’s leading commercial vehicle manufacturers, according to Chairman Dheeraj G Hinduja.

In his address to shareholders in the company’s Annual Report for 2024-25, he noted that the commercial vehicle and mobility sectors are undergoing profound transformation.

Continue reading “Ashok Leyland looks at proactive approach to navigate emerging industry trends: Chairman Hinduja”

Source : PTI | Tyre maker CEAT Ltd expects to maintain a double-digit growth this fiscal with domestic replacement segment, specially from rural markets, to drive sales while direct supplies to automobile makers are likely to be muted, according to company MD & CEO Arnab Banerjee.

The company is also waiting and watching the tariff situation in the US, a big growth market but not a significant one right now for it, to decide its future course of expansion in the country, he told PTI.

Continue reading “Expect double-digit growth in FY26, rural replacement market to continue to drive sales: CEAT”

Source : PTI | Battery materials manufacturer Epsilon Advanced Materials is prepared to enter into long-term strategic partnerships with the companies looking to source high-quality graphite anode and cathode materials outside China, a company official said.

EV batteries are made of components like anode, cathode, electrolyte and separator. As of now China commands over 90 per cent of this graphite anode and cathode processing capacity which is used in electric vehicles. Continue reading “Epsilon to partner with firms eyeing ex-China sourcing of EV battery materials: MD Vikram Handa”

Source : PTI | Japanese auto major Honda is targeting a 30 per cent share in the Indian two-wheeler market by 2030, as it chases the goal to achieve half of global two-wheeler sales in the long term, according to a top official of the company’s arm in India.

The company’s arm, Honda Motorcycle & Scooter India (HMSI), sees huge potential to grow sales among female customers, who currently account for just about 10 % of the overall industry sales, HMSI President Tsutsumu Otani told PTI in an interview. Continue reading “Honda eyes 30% share in Indian two-wheeler market, sees potential to grow sales among women”

Summary

• Neta inflated sales of over 60,000 cars between Jan 2023-March 2024-documents
• Scheme enabled companies to book sales early to meet aggressive targets
• China’s auto industry has been roiled by cut-throat competition, prompting regulatory concern

(Reuters) – Chinese electric vehicle brands Neta and Zeekr inflated sales in recent years to hit aggressive targets, with Neta doing so for more than 60,000 cars, according to documents reviewed by Reuters and interviews with dealers and buyers. Continue reading “Exclusive: China EV brands Zeekr, Neta inflated car sales using insurance scheme”

New Delhi : Maruti Suzuki India Limited (Maruti Suzuki) has achieved a new milestone in after-sales service. The Company, through its network, has serviced over 24.5 lakh vehicles in a single month, the highest ever in its history. The record was achieved in the month of May, and entails paid service, free service as well as running repairs.

The Company, in its unwavering commitment to providing peace of mind to customers, has been expanding its after sales network across metros, small towns, and even reaching deep rural interiors of the country. The vast network now stands at over 5,400 service touchpoints enabling the Company to service a record of over 24.5 lakh vehicles in a month. Continue reading “A Historic High: Maruti Suzuki network services 24.5 lakh vehicles in a month”

Summary

• Elections may weaken PM Ishiba, who secured no tariff relief
• Mazda faces 25% U.S. tariffs, imperilling Hiroshima’s economy
• Company forms tariff strategy team after U.S. sales drop

HIROSHIMA, Japan, (Reuters) – When car maker Mazda sneezes, everyone catches a cold, say people in its hometown of Hiroshima in western Japan, but these days, auto parts maker Yuji Yamaguchi fears a deep chill is on the way. Continue reading “Japan voters see little hope for tariff reprieve in car maker Mazda’s hometown”

(Reuters) – British luxury carmaker Jaguar Land Rover has delayed the launch of its electric Range Rover and Jaguar models to allow time for more testing and for demand to pick up, The Guardian reported on Friday.

JLR has told customers deliveries of the Range Rover Electric will not start until next year, the report said, while a source told the newspaper that Jaguar’s first EV will start production in August 2026. Continue reading “Britain’s JLR delays launch of Range Rover, Jaguar EVs, The Guardian reports”

BEIJING, (Reuters) – Major automakers should push for “rational competition” in the electric vehicle industry, a senior Chinese official said on Thursday, according to a statement from the industry ministry published on Friday.

The comments from Che Jun, head of a Communist Party central leading group, came a day after China’s cabinet pledged to regulate what it called “irrational” competition in the EV market and vowed to strengthen price-monitoring. Continue reading “Chinese automakers should pursue ‘rational competition’ in EV industry, official says”

BERLIN, (Reuters) – Porsche CEO Oliver Blume has initiated negotiations on another round of cost-cutting measures to help the German carmaker cope with challenges in China and the U.S. tariff dispute, according to a letter seen by Reuters on Friday.

“In the second half of 2025, employer and employee representatives will negotiate a second structural package to secure the company’s long-term performance,” according to an excerpt of the letter sent to the company’s leadership. Continue reading “Porsche CEO Blume initiates talks on another savings programme”

Summary

• Raj Jegannathan takes over Tesla sales amid declining demand
• The IT exec lacks traditional sales experience, has grown closer to Elon Musk
• High-level departures at Tesla include Troy Jones, Omead Afshar

(Reuters) – A relatively little-known information technology executive is running Tesla’s sales team as the electric carmaker grapples with a drop in sales, according to people familiar with the matter. Continue reading “Exclusive: Tesla IT exec with no traditional car-sales experience is running sales, sources say”

Source : PTI  Kotak Mahindra Prime (KMPL), the auto financing arm of Kotak Group, on Friday said it has become a preferred financer, offering its seamless financing experience for Tesla’s futuristic EVs.

Kotak Mahindra Prime is the first among financers to be appointed as a Preferred Financer for Tesla in India, the company said in a statement. Continue reading “Kotak Mahindra Prime becomes preferred financer for Tesla EVs in India”

(Reuters) – Alphabet’s Waymo is expanding its service in Austin, Texas, to 90 square miles from 37 square miles earlier, the software giant’s self-driving unit said on Thursday, seeking to protect its top position in the city from rivals such as Tesla.

Waymo, which has over 100 vehicles on the Uber platform in Austin, will now cover new neighborhoods such as Crestview, Windsor Park, Sunset Valley and Franklin Park, the company said. Continue reading “Waymo expands coverage in Austin, Texas, as robotaxi competition heats up”

(Reuters) – The U.S. National Highway Traffic Safety Administration (NHTSA) on Thursday asked owners of some vehicles of Swedish automaker Volvo to urgently complete a safety recall over a brake failure issue.

Volvo issued a recall in June for 11,469 vehicles of a number of models due to a loss of brake function.

The remedy for the Volvo recall is to update vehicle software through an over-the-air download, which as of July 15 has not been done by about 1,000 vehicles, the NHTSA said in a statement. Continue reading “NHTSA urges Volvo owners to complete urgent brake recall”

Summary

• UNP and Norfolk’s combined market value is roughly $200 billion
• “This (deal) would attract a lot of scrutiny” – expert
• Norfolk shares up 4.5% after hours

(Reuters) – Railroad operator Union Pacific is exploring a deal to buy smaller rival Norfolk Southern, the Wall Street Journal reported, in a merger that would bolster the industry leader’s heft and likely draw intense regulatory scrutiny. Continue reading “Union Pacific exploring deal to buy Norfolk Southern, WSJ reports”

Summary

• NHTSA staffing could see further cuts if Congress reduces budget
• Agency faces broad workload of vehicle defect investigations
• Transportation secretary says uncertain if department will conduct layoffs

WASHINGTON, (Reuters) – The U.S. auto safety agency is shedding more than 25% of its employees under financial incentive programs to depart the government offered by the Trump administration, according to data provided to Congress seen by Reuters. Continue reading “US auto safety agency shedding more than 25% of employees”

Source : PTI | Pune-based Kinetic Green Energy and Italy-originated Tonino Lamborghini SpA have joined hands to make electric golf carts for both Indian and global markets. The companies have launched their electric golf and lifestyle carts, which will be manufactured at Kinetic Green’s Pune-based plant, company executives confirmed during the launch event.

The carts–designed in Italy– are available in two series: the Genesis Range, a tribute to the legacy of the brand, and the Prestige Range, which represents a more ultra-premium, futuristic design. Continue reading “Kinetic Green eyes large global footprint in JV with Tonino Lamborghini”

Source : PTI | Tata Motors-owned Jaguar Land Rover (JLR) on Thursday confirmed plans to cut hundreds of managerial roles as part of a “limited” voluntary redundancy programme, which it says is aimed at better aligning its leadership workforce with the luxury car brand’s business strategy.

The UK-based car manufacturer, which has been under pressure from US President Donald Trump’s tariff wars, welcomed the recent trade deal that eases some pressure on its automotive exports to the American market.

Continue reading “Tata Motors-owned Jaguar Land Rover to cut hundreds of managerial roles in UK”