Source : PTI | IndianOil Group company Chennai Petroleum Corporation Ltd coinciding with its Diamond Jubilee year has embarked on a journey to set up retail outlets to sell petrol and diesel, a top official said on Tuesday.
The company, which has been producing fuel at its refineries located near the city, has earmarked ₹400 crore as capital expansion towards this cause. Continue reading “Chennai Petroleum to set up retail fuel outlets; commits ₹400 cr capex”
BEIJING, (Reuters) – China’s Xiaomi founder and CEO Lei Jun said on Tuesday that he expected the company’s auto business to turn profitable in the second half of the year, according to a company spokesperson.
Xiaomi’s loss from its smart electric vehicles, AI and other new projects amounted to 0.5 billion yuan ($69.5 million) in the quarter ended March 31, with its EV business revenue reaching 18.1 billion over the same period. Continue reading “China’s Xiaomi founder expects EV business to turn profitable in H2”
BEIJING, (Reuters) – Tesla Model 3 and Model Y vehicles entered the list of 124 electric vehicle and hybrid models in a Chinese government-backed campaign to promote sales in rural areas, the industry ministry statement on Tuesday.
BYD best-selling cars that made the list of 99 such cars last year largely remain, while Tesla models, absent in the annual campaign held at least since 2020, made their debut this year. Continue reading “Tesla’s Model 3, Model Y make list of China’s campaign to boost rural EV sales”
BERLIN, (Reuters) – Volkswagen’s plan to cut 35,000 jobs in Germany by 2030 is on track, with over 20,000 workers agreeing to end their contracts early, its human resources chief Gunnar Kilian told a works council meeting at the carmaker’s Wolfsburg headquarters on Tuesday. Continue reading “Volkswagen job cuts on track as 20,000 agree to early redundancy”
Summary
BEIJING/NEW DELHI, (Reuters) – Diplomats, automakers and other executives from India, Japan and Europe were urgently seeking meetings with Beijing officials to push for faster approval of rare earth magnet exports, sources said, as shortages threatened to halt global supply chains. Continue reading “Diplomats, automakers push Beijing to loosen rare earth magnet export restrictions”
Summary
TOKYO, (Reuters) – Toyota Motor will take forklift-maker Toyota Industries (6201.T), opens new tab private in a $33 billion deal, the companies said on Tuesday, a landmark unwinding of cross-shareholding that is likely to strengthen the influence of the group’s founding Toyoda family. Continue reading “Toyota to take key supplier private in $33 billion deal”
(Reuters) – Ford is recalling 29,501 vehicles in the U.S. due to a detached control arm that can cause a loss of vehicle steering and control, increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration said on Saturday.
The automaker is recalling certain 2024-2025 F-150 Lightning BEV vehicles, NHTSA said. Continue reading “Ford recalls more than 29,000 vehicles in the US, NHTSA says”
BEIJING, (Reuters) – Chinese auto dealers on Tuesday called on automakers to stop offloading too many cars on dealerships, as intense price wars are pressuring their cash flow, driving down their profitability and forcing some to shut.
The proposal came on the heels of an official call over the weekend for the auto industry to halt bruising price wars. Continue reading “China car dealers urge automakers to stop dumping inventory on them”
STOCKHOLM, (Reuters) – Tesla’s new car sales in Sweden fell 53.7% in May from a year earlier to 503 vehicles, registration data from Mobility Sweden showed on Monday. Continue reading “Tesla’s sales in Sweden fall 53.7% year-on-year in May”
TOKYO, (Reuters) – Toyota Industries will decide on Tuesday whether to accept a tender offer to take the company private, it said, after several media reported that it would accept a $42 billion offer from Toyota Motor and other group companies.
In a separate statement, Toyota Motor also said it would make a decision on the reported plan, but added that some media reports contained misleading information including that the total acquisition could exceed 6 trillion yen ($42 billion). Continue reading “Toyota Industries says it will discuss Toyota Group takeover bid on Tuesday”
Source : PTI | Petrol consumption spiked for the second month in a row in May as summer season travel pushed up demand but diesel sales remained tepid, according to provisional industry data.
Petrol consumption rose 8.77 per cent to 3.76 million tonnes in May, from 3.46 million tonnes a year back. Its demand was up 12.45 per cent, over consumption of 3.35 million tonnes in May 2023. Continue reading “Petrol sales climb 9% in May, diesel demand tepid”
Source : PTI | The Indian Biogas Association on Sunday said it has signed an MoU with Indian Oil Corporation Ltd (IOCL) for development of bioenergy and bio-hydrogen sector.
This collaboration seeks to develop and expand the bio-energy sector on the basis of synergies between both organisations, a statement said. Continue reading “IBA collaborates with Indian Oil to develop bioenergy, bio-hydrogen sector”
Summary
NEW DELHI, (Reuters) – Tesla does not want to produce cars in India, a federal minister said on Monday as the government finalised its electric vehicle policy, with the EV giant’s plans currently focused on importing cars into the country. Continue reading “Tesla not keen on local production, minister says, as India finalises EV policy”
Summary
LONDON, (Reuters) – Tesla’s car sales fell sharply in several European markets including Sweden and Portugal in May, a fifth consecutive monthly decline that has been blamed on CEO Elon Musk’s political activities and an outdated model lineup. Continue reading “Tesla’s European sales rout continues but new Model Y boosts Norway deliveries”
Summary
(Reuters) – Some senior Tesla executives were alarmed last year when Elon Musk denied a Reuters report that the company had killed a planned all-new $25,000 EV that investors had expected to drive explosive vehicle sales growth, according to people familiar with the matter.
“Reuters is lying,” Musk had posted on X, minutes after the story published on April 5, 2024, halting a 6% decline in Tesla’s stock. Tesla shares recovered some of the loss after Musk’s post, but the stock was down 3.6% at market close. Continue reading “Exclusive: Tesla executives questioned Musk after he denied killing $25,000 EV project, sources say”
by WAF Think Tank
JSW MG Motor India on Sunday reported a 40 per cent year-on-year increase in vehicles dispatches to dealers at 6,304 units. The company’s wholesales were at 4,510 units in May 2024.
The company has been showing steady performance in the Indian car market. Earlier this year, the company board appointed Anurag Mehrotra as the MD & CEO of JSW MG Motor India. He is an industry veteran and the company is already showing good performance under his leadership.
Continue reading “JSW MG Motor India records whopping 40% Sales Growth in May 2025”
Source By : Mobility Outlook | JSW MG Motor India, through its premium brand channel MG SELECT, will be launching the MG Cyberster—an all-electric luxury roadster that marks the brand’s return to its sporting roots with a futuristic twist.
A striking reinterpretation of the classic roadster, the Cyberster features a long sculpted bonnet, muscular rear haunches, and electric scissor doors, delivering dramatic flair and aerodynamic finesse. Its design pays homage to MG’s iconic lineage—most notably the MG B—while embracing a forward-looking aesthetic with a Kammback tail and sleek front fascia. Continue reading “MG Cyberster Redefines Roadster For Electric Age”
(Reuters) – Ford is recalling 29,501 vehicles in the U.S. due to a detached control arm that can cause a loss of vehicle steering and control, increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration said on Saturday.
The automaker is recalling certain 2024-2025 F-150 Lightning BEV vehicles, NHTSA said. Continue reading “Ford recalls more than 29,000 vehicles in the US, NHTSA says”
Source : PTI | FASTags not properly working, extra money charged by toll plazas and the quality of roads being constructed were some of the issues that drew concern from the members of Parliament’s Public Accounts Committee, its chairperson and Congress MP K C Venugopal said Thursday.
The recent collapse of a part of a national highway in Kerala was also flagged at the meeting, and a high-level committee will be travelling to the southern state to look into the matter, he added.
Continue reading “PAC voices worries about FASTags and highway toll hikes”
Source : PTI | New Delhi: Delhi government will provide subsidies to people to promote electric vehicle adoption in Delhi in its new policy, Chief Minister Rekha Gupta said on Saturday.
Delivering a valedictory address at Aironomics, 2025 convention, she highlighted Delhi government’s different initiatives to combat air pollution.
Continue reading “Delhi govt to provide subsidies to promote e-vehicles, says CM Gupta”
Source : PTI | India needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US.
Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry. Continue reading “‘India needs to be watchful of any trade diversion risk due to steel tariff challenges’”
Source : PTI | Industry stakeholders expect a rise in demand for construction equipment this year largely driven by ‘above normal’ rainfall outlook and government’s focus on infrastructure, industry body ICEMA President designate Deepak Shetty has said.
“The India Meteorological Department (IMD) has predicted ‘above normal’ rainfall in the country and I am very happy that due to this the rural market will be benefited. As most of our machines operate in the rural area, I am hopeful that we will be benefited,” Shetty said. Continue reading “Demand for construction equipment to pick up this year: ICEMA”
Summary
BEIJING, (Reuters) – Tensions between two of China’s largest automakers erupted into the open on Friday when a BYD executive slammed as alarmist comments by the chief of Great Wall Motor that called the industry “unhealthy”. Continue reading “China’s BYD and Great Wall Motor clash over China’s auto price war”
Summary
WASHINGTON, (Reuters) – Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. Continue reading “Exclusive: Car makers warn China’s rare-earth curbs could halt production”
Summary
HONG KONG/SHANGHAI, (Reuters) – China’s Geely is undervaluing its premium electric car unit Zeekr with the $2.2 billion take-private offer it has made, five early investors in Zeekr have written to its board, according to three sources with direct knowledge of the matter. Continue reading “Exclusive: Zeekr investors criticise Geely’s $2.2 billion take-private bid as inadequate, say sources”
(Reuters) – Automakers in the United States, including Tesla must build entire vehicles including all their parts in the country instead of manufacturing parts abroad, President Donald Trump said on Friday.
The comments from Trump, at a press conference marking Tesla CEO Elon Musk’s last official day at the White House as a senior adviser, were in response to a question on tariffs hurting companies such as Tesla that import auto parts from other countries. Continue reading “Trump says automakers, Tesla must build cars, parts in US”
Source : PTI | Realty firm Kanakia Group has tied up with US-based Hines, Mitsubishi Estate and Sumitomo Corporation to develop a premium 15 lakh square feet office complex at BKC in Mumbai.
In a statement on Friday, Kanakia Group said it has entered into a joint venture with Hines, and two of Japan’s prominent conglomerates Mitsubishi Estate Co Ltd. (MEC) and Sumitomo Corporation for development of a premium office project in Bandra Kurla Complex (BKC).
Source : PTI | FASTags not properly working, extra money charged by toll plazas and the quality of roads being constructed were some of the issues that drew concern from the members of Parliament’s Public Accounts Committee, its chairperson and Congress MP K C Venugopal said Thursday.
The recent collapse of a part of a national highway in Kerala was also flagged at the meeting, and a high-level committee will be travelling to the southern state to look into the matter, he added.
Continue reading “PAC voices worries about FASTags and highway toll hikes”
Summary
(Reuters) – Elon Musk’s break with the Trump administration means investors will hope he refocuses on his sprawling empire as Tesla battles slumping sales and after SpaceX’s latest rocket launch fell short of expectations. Continue reading “Musk’s White House exit refocuses questions about Tesla, other businesses”
BEIJING, (Reuters) – Porsche struck a deal on Friday to set up its China research and development centre in Shanghai’s Jiading district, according to a local government statement.
Under the deal, Porsche models will be equipped with the first infotainment solution tailored for the Chinese market in 2026, the statement said. Continue reading “Porsche to set up R&D centre in Shanghai, local government says”
STOCKHOLM, (Reuters) – S&P on Friday lowered the outlook for its BB+ credit rating on Volvo Cars to “negative” from “stable”, saying U.S. tariffs and tougher competition in China were hurting the company’s growth prospects.
The Sweden-based automaker, which is majority-owned by China’s Geely, last month withdrew its earnings guidance and announced cost cuts, which will include laying off some 3,000 mostly white-collar workers amid a slowdown in demand. Continue reading “S&P lowers outlook on Volvo Cars rating citing US tariffs, competition in China”
Summary
FRANKFURT, (Reuters) – For all the drama surrounding U.S. President Donald Trump’s trade tariffs, the world economy is holding up better than many had expected.
The latest data from the United States, China and, to a lesser extent, Europe are showing resilience and the global economy as a whole is still expected to grow modestly this year. Continue reading “Global economy’s ‘sugar rush’ defies trade drama – for now”
Summary
HONG KONG/SHANGHAI, (Reuters) – China’s Geely is undervaluing its premium electric car unit Zeekr with the $2.2 billion take-private offer it has made, five early investors in Zeekr have written to its board, according to three sources with direct knowledge of the matter. Continue reading “Exclusive: Zeekr investors criticise Geely’s $2.2 billion take-private bid as inadequate, say sources”
Summary
BEIJING, (Reuters) – Tensions between two of China’s largest automakers erupted into the open on Friday when a BYD executive slammed as alarmist comments by the chief of Great Wall Motor that called the industry “unhealthy”. Continue reading “China’s BYD and Great Wall Motor clash over China’s auto price war”
Summary
BERLIN/FRANKFURT, (Reuters) – Volkswagen wants to make more big investments in the United States, CEO Oliver Blume said in an interview with a German newspaper on Friday, adding that tariff talks with the U.S. government were “fair” and “constructive”. Continue reading “Volkswagen flags ‘massive’ US investments and says tariff talks constructive”
(Reuters) – Hyundai Motor is considering a 1% price increase on its entire U.S. lineup, looking to soften a hit from U.S. President Donald Trump’s tariffs, Bloomberg News reported on Thursday, citing people familiar with the matter.
The price hikes could come as soon as next week and would affect the suggested retail price of every model in its lineup, the report said, adding that they would apply to newly built vehicles, leaving cars that are already in dealer lots unaffected. Continue reading “Hyundai considering 1% price hike on US vehicles to counter tariff hit, Bloomberg News reports”
DETROIT/WASHINGTON, (Reuters) – Ford Executive Chair Bill Ford on Thursday sounded the alarm over the potential for the U.S. government to eliminate production tax credits that support the manufacturing of electric vehicle batteries using Chinese technology.
The disappearance of the credits would threaten Ford’s projected $3 billion investment in a Marshall, Michigan, plant that is 60% complete and slated to employ 1,700 workers. Continue reading “Ford head says GOP tax bill provision could ‘imperil’ battery factory”
Summary
LOS ANGELES, (Reuters) – Importer uncertainty ahead of the vital holiday ocean shipping season remains high, the executive director of the busiest port in the U.S. said on Thursday, as a court battle broke out over President Donald Trump’s trade tariffs. Continue reading “Court battle over Trump tariffs prolongs shipper uncertainty as holiday season nears”
Source : PTI | Ride-sharing platform Rapido has partnered with the Society for Advanced Clinical and Therapeutic Emergency Medicine (SACTEM) to provide basic life support training to over 1,000 bike, auto and cab captains across 16 cities in the country, the company said on Wednesday.
The initiative was flagged off on the World Emergency Medicine Day, which is observed globally on May 27 every year. Continue reading “Rapido to provide basic life support training to over 1,000 drivers”
WAF THINK TANK
Why Are Companies Like Renault and Nissan Struggling in the Indian Car Industry? CarPhD
JSW MG Motor India’s ‘MG SELECT’ Blends Innovation With Lifestyle Appeal WAF Continue reading “WAF Auto News | The Auto World This Week (30th May 2025)”
