WASHINGTON, (Reuters) – Donald Trump met with the head of the Teamsters on Wednesday and made plans to meet with rank-and-file members later this month as he seeks the 2024 Republican presidential nomination, the former president and the union said in statements.

Sean O’Brien, president of the International Brotherhood of Teamsters, and Trump had “an in-depth and productive discussion on worker issues most important to the Teamsters Union,” the labor group, which represents 1.3 million workers from truckers and police to nurses and film crews, said in a post on the X social media platform. Continue reading “Trump meets Teamsters chief as union weighs presidential race”

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Sales of Indian SUVs soar, smaller cars skid in December WAF

Power Network with Top Leaders at WAF WAF Continue reading “WAF Auto News | The Auto World This Week (05th January 2024)”

(Reuters) – Tesla (TSLA.O) CEO Elon Musk cannot be forced to testify in a wrongful death lawsuit stemming from a high-speed crash of one of the electric vehicle maker’s sedans, a Florida state appeals court ruled on Wednesday, reversing a lower court judge.

A unanimous three-judge panel of the 4th District Court of Appeal in West Palm Beach said Musk as a corporate leader could be shielded from a deposition.

Lawyers for the plaintiff, a teenage passenger killed in a 2018 crash in a Tesla Model S that also killed the driver, wanted to take Musk’s testimony as part of the lawsuit. Musk had called the driver’s father after the accident. Continue reading “Elon Musk defeats bid to be questioned in Tesla fatal crash lawsuit”

WASHINGTON,(Reuters) – General Motors (GM.N) said on Wednesday it is offering incentives of $7,500 on its electric vehicles that earlier this week lost a U.S. government tax credit, while Ford Motor (F.N) said it is hiking the prices of some of its F-150 EVs by $10,000.

The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the U.S. EV supply chain away from China. The guidelines took effect on Monday. Continue reading “GM offers $7,500 incentive for EVs losing US tax credit”

(Reuters) – General Motors (GM.N) edged out rival Toyota Motor (7203.T) to remain the top-selling automaker in the U.S. in 2023 as easing supply snags and sustained demand drove the industry to its best year since the pandemic.

The Detroit automaker shrugged off a hit from a costly auto strike to report U.S. new vehicle sales of about 2.6 million units for 2023, up 14.1% from 2022, while Toyota’s annual sales rose 6.6% to about 2.25 million vehicles. Continue reading “GM leads US auto sales as industry concludes best year since pandemic”

Source : PTI | Toyota Kirloskar Motor on Wednesday announced senior management changes to align with the recent regional restructuring by parent company Toyota Motor Corporation integrating India into its ‘Middle East, East Asia & Oceania Region’ operations and slotting the country to act as the hub of the new geography. As part of the changes, Tadashi Asazuma, currently Executive Vice President, has been elevated as Deputy Managing Director Sales-Service-Used Car Toyota Kirloskar Motor (TKM) and Lexus, the company said in a statement.

Similarly, Swapnesh R Maru, presently serving as Executive Vice President and Chief Compliance Officer, has been elevated as Deputy Managing Director Corporate Planning, Finance and Administration and Manufacturing, it added. Continue reading “Toyota Kirloskar Motor announces senior management rejig”

SHANGHAI, Jan 3 (Reuters) – BYD , which outsold Tesla (TSLA.O) in electric car sales globally for the first time in the fourth quarter, will hand out rewards totaling billions of yuan to its Chinese dealers, according to two dealers with knowledge of the matter.

The Chinese automaker will pay 666 yuan ($93.17) per car to the dealers if they have achieved their sales targets in 2023, the people said. The number 666 is considered an auspicious figure in China since the number sounds like the word for “cool” or “amazing”. Continue reading “China’s BYD to give dealers 2 billion yuan for hitting sales target – sources”

CHENNAI/HANOI, Jan 3 (Reuters) – Vietnamese electric vehicle maker VinFast is set to open its first Indian manufacturing facility, where it will make batteries, in the southern state of Tamil Nadu, three people familiar with the matter said.

The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the people said, adding that this was separate from its previously announced plans to assemble vehicles shipped in parts from Vietnam. Continue reading “Vietnam’s VinFast to set up EV battery plant in India -sources”

SEOUL, Jan 3 (Reuters) – South Korea’s Hyundai Motor Co (005380.KS) and affiliate Kia Corp (000270.KS) forecast on Wednesday that their combined global sales will rise about 2% in 2024, even as last year’s sales fell short of target.

The duo sold 7.3 million vehicles in 2023, about 3% less than their combined target of 7.52 million, largely due to a difficult economic environment, including rising interest rates and inflation that pushed vehicles out of the reach of some buyers. Continue reading “Hyundai Motor, Kia expect auto sales to rise 2% in 2024”

Summary

• Delivers record number of vehicles in Q4, hits 2023 target
• Tesla makes 1.85 million vehicles in 2023
• Some Tesla cars lose tax credits under new IRA guidelines

(Reuters) – (This Jan 2. story has been corrected to change the Tesla vehicle delivery figure to 484,507 in paragraph 2 and to clarify that BYD is the top EV maker by sales in paragraph 1)

Tesla (TSLA.O) delivered a record number of electric vehicles in the fourth quarter, beating market estimates and meeting its 2023 target, but lost its spot as the top EV maker by sales to China’s BYD (002594.SZ). Continue reading “Tesla delivers record Q4 cars, but China’s BYD steals top EV spot”

Jan 3 (Reuters) – U.S. new vehicle sales likely rose by a low double-digit percentage in 2023 on sustained demand for crossover SUVs and pickup trucks, but analysts fear a challenging year ahead, with high interest rates eating into demand.

Automakers ramped up their output to keep up with a surge in consumers interest in new vehicles for personal mobility after the pandemic, but demand is set to ease due to a number of factors. Continue reading “US auto sales likely jumped in 2023; new year to be challenging”

Source : PTI | About 2,000 petrol pumps, mostly in western and northern India, have run out of fuel stocks as the strike by some truckers’ associations entered the second day on Tuesday. While state-owned oil firms had topped up tanks at most petrol pumps across the country in anticipation of the truckers’ strike, some petrol pumps in Rajasthan, Madhya Pradesh, Maharashtra and Punjab ran out of stock due to heavy rush, industry officials said.

Long queues were witnessed at several pumps in these states as panic set in on stocks running out.

Continue reading “About 2,000 petrol pumps run dry as truckers strike against new penal code”

WASHINGTON, (Reuters) – Many electric vehicles lost eligibility for tax credits of up to $7,500 after new battery sourcing rules took effect on Monday, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, some Tesla Model 3s and Chevrolet Blazer EV, the U.S. Treasury said.

The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the U.S. electric vehicle supply chain away from China. They took effect on Monday. Continue reading “More EVs lose US tax credits including Tesla, Nissan, GM vehicles”

Summary

• Tesla in 2023 was top seller for third year running
• Raised market share to 20% from 12%
• No impact on Tesla sales seen from conflict with Nordic unions
• Norway aims to be first to phase out petrol, diesel car sales
• No impact on Tesla sales seen from conflict with Nordic unions

OSLO, (Reuters) – Tesla (TSLA.O) topped Norway’s car sales for a third straight year in 2023, extending its lead over rivals despite an ongoing conflict between the U.S. electric vehicle maker and the Nordic region’s powerful labour unions.

Almost five out of six new cars sold in Norway last year were powered by battery only, with Tesla’s share of the overall market rising to 20.0% from 12.2%, registration data showed on Tuesday. Continue reading “Tesla extends lead in Norway sales, EVs take 82% market share”

(Reuters) – Rivian Automotive (RIVN.O) missed market estimates for fourth-quarter deliveries as tough competition and high interest rates weighed on demand for its electric vehicles, sending the company’s shares down nearly 10% on Tuesday.

The company handed over 13,972 vehicles in the last three months of 2023, 10% lower than the previous quarter, and below estimates of 14,430, per 13 analysts polled by Visible Alpha. Continue reading “EV maker Rivian’s quarterly deliveries miss expectations, shares tank”

Summary

• Delivers record number of vehicles in Q4, hits 2023 target
• Tesla makes 1.85 million vehicles in 2023
• Some Tesla cars lose tax credits under new IRA guidelines

(Reuters) – Tesla (TSLA.O) delivered a record number of electric vehicles in the fourth quarter, beating market estimates and meeting its 2023 target, but lost its spot as the top EV maker to China’s BYD (002594.SZ). Continue reading “Tesla delivers record Q4 cars, but China’s BYD steals top EV spot”

Source : PTI | Eicher Motors has been served demand notices of over INR 130 crore from three different authorities over issues related to GST, according to a regulatory filing by the company. The company has received a demand order for an aggregate amount of INR 129.79 crore, including a penalty of INR 11.8 crore and applicable interest from the office of the Principal Commissioner of CGST and Central Excise, Chennai, Eicher Motors said in a regulatory filing.

The officer has disallowed certain GST credit and raised GST demand, largely on account of the difference in GST credit mismatch between the company’s GST availment and details reported by suppliers in their GST returns, it added. Continue reading “Eicher Motors gets INR 130 cr tax demand notices, company to challenge”

Source : PTI | New Delhi: Jindal Stainless on Thursday said it will generate over 1.9 billion units of clean electricity per year through its green energy initiatives. The initiatives have the potential to reduce carbon emissions by over 13.52 lakh tonnes per annum.

“Jindal Stainless… will generate over 1.9 billion units of clean electricity per annum through its wind-solar hybrid, floating roof-top solar plants, according to its newly released Sustainability Report,” the company said in a statement.

Continue reading “Jindal Stainless to generate over 1.9 bn units of clean energy”

(Reuters) – Faraday Future Intelligent Electric (FFIE.O) got a notice from the Nasdaq exchange on Thursday over its failure to comply with listing rules that require a minimum closing share price of $1, the electric-vehicle startup disclosed in a filing.

The firm, whose shares closed at 26 cents on Thursday, has until June 25 to regain compliance by lifting its stock price over the required level for at least 10 consecutive days. Continue reading “EV startup Faraday Future’s sinking share price prompts Nasdaq notice”

(Reuters) – Fisker (FSR.N) said on Friday its electric vehicle deliveries jumped more than four-fold during the final quarter, helping it hand over about 4,700 vehicles for the year.

The rise in quarterly sales volume was primarily driven by strong demand for the Fisker Ocean SUV, priced at about $69,000, the company said.

Fisker started making its first deliveries to U.S. customers in June. Continue reading “Fisker delivers 4,700 electric cars in 2023, shares jump”

Source : PTI | Chief Minister Sukhvinder Singh Sukhu has directed government departments not to buy diesel and petrol vehicles from January 1, 2024, according to a statement. This will promote e-vehicles and help the state achieve the goal of ‘Green and Clean Himachal’, it said.

In case a department wants to purchase a diesel or petrol vehicle it will have to seek the approval of the state cabinet, it said.

“In an initiative to achieve the goal of ‘Green and Clean Himachal’, Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024,” the statement said. Continue reading “HP govt restricts departments from buying diesel-petrol vehicles from Jan 1”

(Reuters) – China’s Li Auto Inc (2015.HK) said on Sunday it expects to launch and begin deliveries of its first fully electric car in March.

Li Auto has already started taking pre-orders in China for its MEGA multi-purpose vehicle (MPV) at an estimated price of under 600,000 yuan ($84,533.24).

The automaker said in November that the MEGA MPV would be the first model produced at its Beijing plant, which has a design capacity of 100,000 units a year. Continue reading “China’s Li Auto expects to launch first fully electric EV in March”

BENGALURU, (Reuters) – Sales of sports utility vehicles (SUVs) rose in December, while small car sales fell despite high discounts, data from Indian automakers showed on Monday.

While sales of entry-level vehicles remain slow due to inflation, automakers have benefited from the sales of premium vehicles, catering to a more well-off demographic largely unaffected by higher prices.

Maruti Suzuki (MRTI.NS) and Mahindra & Mahindra (MAHM.NS) reported domestic SUV sales growth of 24% and 39% year-on-year, respectively. Continue reading “Sales of Indian SUVs soar, smaller cars skid in December”

HONG KONG, (Reuters) – Chinese carmaker Geely Automobile Holdings Ltd (0175.HK) set its sales volume target at 1.9 million units for 2024, up 13% from its total sales last year, according to a Hong Kong stock exchange filing on Monday.

The company also said it increased its sales volume target for new energy vehicles by more than 66% compared with the total sales volume achieved in 2023, without giving a figure.

Geely, China’s second largest automaker by sales, said it sold 1,686,516 vehicles in 2023, up 18% from 2022. Continue reading “Chinese automaker Geely raises sales target for 2024 to 1.9 mln units”

HONG KONG,(Reuters) – A share sale plan between China Evergrande New Energy Vehicle Group (0708.HK), the electric vehicle arm of property developer China Evergrande (3333.HK), and U.S.-listed NWTN (NWTN.O) has lapsed, according to a Hong Kong stock exchange filing on Monday.

As neither party agreed on the extension of the long stop date, which is the last day of 2023, Evergrande New Energy Vehicle said the share subscription and loan conversion subscription agreement by NWTN are no longer valid. Continue reading “China Evergrande’s EV share sale deal lapses”

(Reuters) – China’s BYD Co (002594.SZ), the world’s biggest seller of battery electric vehicles (BEVs) and plug-in hybrids, sold about 3.02 million vehicles in 2023, an increase of 61.9%, it said on Monday.

The Shenzhen-based automaker said it sold about 1.6 million battery EVs as well as about 1.4 million plug-in hybrid EVs.

BYD said its battery and hybrid EV sales in December stood at 340,178 including 190,754 all-electric vehicles. Continue reading “Chinese EV giant BYD posts 62% jump in 2023 vehicle sales”

WASHINGTON,(Reuters) – Many electric vehicles lost eligibility for tax credits of up to $7,500 after new battery sourcing rules took effect on Monday, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, some Tesla Model 3s and Chevrolet Blazer EV, the U.S. Treasury said.

The Treasury issued guidelines in December detailing new battery sourcing requirements aimed at weaning the U.S. electric vehicle supply chain away from China. They took effect on Monday. Continue reading “More EVs lose US tax credits including Tesla, Nissan, GM vehicles”

LOS ANGELES, (Reuters) – Toymaker Basic Fun’s team that oversees ocean shipments of Tonka trucks and Care Bears for Walmart (WMT.N) and other retailers is racing to reroute cargo away from the Suez Canal following militant attacks on vessels in the Red Sea.

Suppliers for the likes of IKEA, Home Depot (HD.N), Amazon (AMZN.O) and retailers around the world are doing the same as businesses grapple with the biggest shipping upheaval since the COVID-19 pandemic threw global supply chains into disarray, sources in the logistics industry said. Continue reading “Red Sea shipping workarounds add costs, delays for suppliers, retailers”

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Key Takeaways on Customers, Growth & Profitability of Vehicle After Sales Service | 9th IVASS WAF Continue reading “WAF Auto News | The Auto World This Week (29th December 2023)”

BEIJING, Dec 28 (Reuters) – Chinese smartphone maker Xiaomi (1810.HK) took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of the world’s top five automakers.

The sedan, dubbed the SU7 with the SU short for Speed Ultra, is a highly anticipated model that Chief Executive Lei Jun touted as having “super electric motor” technology capable of delivering acceleration speeds faster than Tesla (TSLA.O) cars and Porsche’s EVs. Continue reading “China’s Xiaomi unveils first electric car, plans to become top automaker”

Source : PTI | State-owned NTPC is looking towards listing its green energy vertical in the next 1-2 years, as it anticipates higher demand going forward, its chairman and managing director Gurdeep Singh said on Wednesday. He also said that the entity is expecting a 30-40 per cent rise in capex to cater to increased power demand in the country.

“Maybe I think (an IPO) down the line in next one to two years… as we add capacity and there is a pipeline of growth,” Singh said in response to a question on whether the company was looking for listing its green energy vertical. Continue reading “NTPC plans to list green energy vertical in next 1-2 years: CMD Gurdeep Singh”

Summary

• Volkswagen India strengthens network presence in Uttar Pradesh: With the latest additions to its network in the state, the Brand now holds a strong presence in the region with a total of nine sales and eight service touchpoints
• The Brand has inaugurated two dealerships in Uttar Pradesh – Bareilly and Lucknow
• Both showrooms boast of a three-car display of India’s safest portfolio of cars: including the 5-star GNCAP-rated Volkswagen Virtus and Taigun, along with the globally acclaimed SUVW Tiguan
• Ensuring customer convenience and peace of mind, the dealerships also offer Express Service and door-to-door service via Volkswagen Assistance and Mobile Service Unit, complemented by a service and spares workshop in a nearby location
  Continue reading “Volkswagen India inaugurates two new touchpoints in Uttar Pradesh, continues to build a robust network presence across the country”

Source : PTI | Toyota Kirloskar Motor on Wednesday said it expects to continue the strong momentum next year after closing 2023 with record sales as rising demand from tier II and III markets is slated to fuel further growth. The company is set for a record year in terms of sales in 2023. It has already clocked a total of 2,10,479 units in the January-November period of 2023, beating the previous highest yearly sales of 1.72 lakh units in 2012.

“At TKM (Toyota Kirloskar Motor), we are equally confident for the next year, fuelled by the rising demand from tier II and III markets and overall buoyant customer sentiments. Our primary focus is on further elevating the customer experience to meet their evolving needs,” company Vice President of Sales and Strategic Marketing, Atul Sood said in a statement. Continue reading “Toyota Kirloskar confident of continuing strong growth in 2024”

Source : PTI | Around 19,700 GPS-based navigation devices, known as Fog PASS, are helping loco pilots operate trains with minimal disruptions and delay while ensuring safety of passengers, railways sources said. Officials say that as fog has begun to affect the visibility in the morning hours, these devices are coming in handy in the smooth running of trains.

“Every year we increase our procurement so that we have enough stock of the device to use in times of need. In March 2021, we had around 12,742 Fog PASS devices,” a senior railway official said. Continue reading “Railways deploy close to 20,000 Fog PASS devices for smooth train run: Sources”

Source : PTI | The Noida Police on Wednesday issued a traffic advisory for December 31, cautioning the public about diversions that will come up near crowded markets and shopping malls on New Year’s Eve. The police also warned of strict action in the form of hefty fines and vehicle seizures against those found flouting the traffic rules, especially in cases of driving under the influence of alcohol or drugs.

In the advisory, the police said various traffic arrangements and diversions will be made to reduce vehicle congestion on roads on New Year’s Eve. Continue reading “Noida Police issues traffic advisory for New Year’ s Eve, drunk drivers on radar”

BEIJING, (Reuters) – Chinese electric vehicle giant BYD (002594.SZ), said on Wednesday it has obtained a conditional testing license for level 3 (L3) autonomous driving on high-speed roads.

BYD was granted the first such license in China in July, the company said in a statement on its official Weibo account.

Earlier in December, BMW Group (BMWG.DE) said it had received a test license for L3 self-driving on high-speed roads in Shanghai, while Mercedes Benz (MBGn.DE) said it would carry out L3 tests on designated highways in Beijing. Continue reading “BYD has obtained conditional testing license for level 3 autonomous driving on high-speed roads”

SAN FRANCISCO, (Reuters) – Tesla (TSLA.O) is expected to post another record quarter for electric vehicle (EV) deliveries, likely shy of an ambitious 2 million annual internal target that CEO Elon Musk touted at the beginning of the year.

Faced with slowing sales, Tesla leveraged its industry-leading margins and slashed prices of its four car models globally in 2023, with a focus on China, where the company has lost market share to locals including BYD (002594.SZ). Continue reading “Tesla deliveries to hit record, but fall short of Musk’s aspirations”

LONDON,  (Reuters) – Self-driving cars could be on some British roads by 2026, the country’s transport minister Mark Harper said on Wednesday.

Cars with full self-driving technology are not currently permitted on Britain’s roads but the government’s Automated Vehicles (AV) legislation is going through parliament, meaning that a legal framework for them should be in place by the end of 2024, said Harper.

“Probably by as early as 2026 people will start seeing some elements of these cars that have full self-driving capabilities being rolled out,” Harper told BBC Radio. Continue reading “Self-driving cars could be on UK roads by 2026 -minister”

SAN FRANCISCO, (Reuters) – General Motors has sued the city of San Francisco, seeking to recover more than $100 million, alleging that it was charged a higher tax bill than warranted because its Cruise self-driving car unit was improperly used to make the calculations.

In the case filed in California Superior Court in San Francisco, GM is seeking $108 million in back taxes over the course of seven years, as well as $13 million in penalties and interest, according to the complaint. The Detroit automaker said San Francisco-based Cruise is operated separately from GM, generates only a minimal amount of sales and should not be used to calculate GM’s liabilities in the city where the parent company has a limited presence. GM said in the lawsuit that it sold only about $677,000 worth of goods in San Francisco in 2022. Continue reading “GM sues San Francisco, seeking $121 million in back taxes, penalties”