(Reuters) – Volkswagen on Friday said its first-quarter operating profit for the core brand group, which includes its best-selling VW brand, declined by 46.3%, impacted by EU carbon provisions and write-downs on inventory related to U.S. tariffs.

The operating profit for the core brand group fell to 1.12 billion euros ($1.27 billion) from 2.08 billion a year ago, while its VW passenger car unit saw an 84.9% drop to 112 million euros. The core brand also includes Skoda, Seat and Cupra. Continue reading “Volkswagen core brand group profit falls on EU carbon provision, US tariffs”

(Reuters) – Electric vehicle maker Polestar is recalling 27,816 cars in the United States due to a rearview camera issue, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.

The recall, on Polestar 2 models that were sold in the United States before 2025, comes days after the Swedish company paused its 2025 forecast, citing potential impact from sweeping U.S. tariffs. Continue reading “EV maker Polestar recalls 28,000 cars in the US over rearview camera issue”

(Reuters) – Canadian auto parts supplier Magna International said on Friday that it plans to implement cost-saving measures to cushion the hit from U.S. President Donald Trump’s sweeping tariffs.

The cost-cutting plans come after the company missed first-quarter profit estimates due to a 3% decline in global vehicle production, with Magna especially impacted by Tata Motors’ Jaguar halting production of I-Pace and E-Pace. Continue reading “Magna plans cost-cutting measures to cushion tariff hit after profit misses estimate”

Summary

• Musk’s EV brand struggling with stiff China competition
• Europeans protest against Musk’s political views
• Tesla April sales at lowest in years in Sweden, the Netherlands
• Model Y deliveries in Europe expected to start in June

(Reuters) – Tesla’s sales plunged across Europe in April, including an 81% drop in Sweden to their lowest level in 2-1/2 years, data showed on Friday, as Europeans buy more Chinese EVs and some protest against CEO Elon Musk’s political views. Continue reading “Europeans continue to shun Tesla as April sales plunge”

Summary

• US, Japan had ‘frank and constructive’ talks, Treasury says
• US negotiators were reluctant to lower levies, Nikkei reports
• Next meeting expected in mid-May

WASHINGTON/TOKYO (Reuters) – Top U.S. and Japanese officials agreed to start immediate working-level consultations after “frank and constructive” trade talks in Washington on Thursday, the U.S. Treasury Department said on Friday, but Japanese accounts were more downbeat. Continue reading “US, Japanese officials to start trade consultations, Treasury says; Japan said skeptical”

Source : PTI | Honda Cars India on Thursday said its domestic sales declined 23 per cent year-on-year to 3,360 units in April. The automaker dispatched 4,351 units to dealers in April last year. Export declined to 1,511 units last month as compared with 6,516 units in April last year.

“In view of the prevailing market conditions and subdued consumer sentiment, we have strategically moderated the dispatches in the month of April to maintain optimal inventory level across our network, ensuring operational efficiency and preparing for demand fluctuations without burdening the dealers,” Honda Cars India VP (Marketing & Sales) Kunal Behl said in a statement. Continue reading “Honda Cars domestic sales dip 23% in April at 3,360 units”

(Reuters) – Chinese carmakers including BYD and Chery (CHERY.UL) are selling more plugin-hybrids in the European Union to avoid import tariffs on Chinese-made electric cars, data released on Friday showed.

The two brands sold 3,269 and 757 plugin-hybrid vehicles (PHEVs), respectively, in the bloc in March, up from near zero sales in July 2024 when provisional tariffs were first introduced, research firm Rho Motion said in a report. Continue reading “Chinese EV makers sell more plugin-hybrids in the EU to avoid tariffs, research firm says”

WASHINGTON, (Reuters) – The U.S House of Representatives voted Thursday to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states.

The House backed legislation to repeal a waiver granted by the U.S. Environmental Protection Agency under former President Joe Biden in December, allowing California to mandate at least 80% electric vehicles by 2035. Major automakers had urged the action, saying the rules are not feasible. California says the rules are essential to cut pollution and contends the vote is illegal. Continue reading “US House votes to bar California 2035 electric vehicle plan”

(Reuters) – Ford Motor on Thursday reported a 16% rise in U.S. auto sales for April, aided by strong truck demand and its employee pricing program. Still, its EV sales fell 40%.

Demand for vehicles has remained strong, with consumers trying to quickly snap up vehicles before prices potentially surge after U.S. President Donald Trump’s tariff policies. Continue reading “Ford’s April US sales rise 16%, EV sales plummet”

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Summary

• AI model aims to promote deals by offering more certainty on future pricing
• Pentagon will continue to fund the AI program through at least 2029
• More than 30 companies have joined non-profit Critical Minerals Forum

(Reuters) – A U.S. government-created artificial intelligence program that aims to predict the supply and price of critical minerals has been transferred to the control of a non-profit organization that is helping miners and manufacturers strike supply deals. Continue reading “Pentagon’s AI metals program goes private in bid to boost Western supply deals”

(Reuters) – Harley-Davidson on Thursday suspended its annual forecasts as the motorbike maker navigates headwinds related to U.S. President Donald Trump’s tariffs.

Harley said it would deal with the current economic situation through cost cuts, mitigating risks within its supply chain, tightening operating expenses and reducing dealer inventory. Continue reading “Harley-Davidson pulls annual forecasts over tariff concerns”

Summary

• Tesla sales dropped 59.4% year-on-year in France last month
• Its sales fell 67.2% year-on-year in Denmark
• Ageing line-up, competition, anti-Musk protests hitting sales

(Reuters) – Tesla sales fell in France for a fourth straight month in April and also dropped in Denmark, data showed on Thursday, the latest sign Elon Musk’s EV brand continues to struggle as Europeans buy more Chinese cars and some protest against his political views. Continue reading “Tesla sales sink again in France, Denmark amid anti-Musk protests”

DETROIT, (Reuters) – General Motors cut its 2025 profit forecast on Thursday after receiving some clarity and reprieve from the White House this week on automotive tariffs.

CEO Mary Barra told shareholders in a letter that the company would maintain strong dialogue with the Trump administration on trade and other policies as they evolve. Continue reading “GM cuts 2025 profit forecast as tariff results in up to $5 billion impact”

Source : PTI | JBM Electric Vehicles on Wednesday announced a strategic partnership with Hitachi ZeroCarbon for deploying battery management solutions in its e-buses. As part of the collaboration, Hitachi’s ZeroCarbon BatteryManager solution will be deployed in JBM electric buses to collect real-time data from the pilot fleet and deliver actionable insights regarding charging patterns, route optimisation and asset usage, JBM EV said.

The all-in-one platform provides comprehensive battery analytics and management tools to enhance performance, extend battery life and maximise residual value. Continue reading “JBM EV ties up with Hitachi ZeroCarbon for battery management solutions”

Summary

• Tesla board chair backs Musk’s leadership
• Board contacted search firms for Musk replacement – WSJ
• Musk’s Trump administration role sparks investor concerns
• Musk calls WSJ report a “deliberately false article”

(Reuters) – Tesla chair Robyn Denholm on Thursday denied a Wall Street Journal report that said board members had reached out to executive search firms to find a new replacement for CEO Elon Musk. Continue reading “Tesla chair denies plans to look for new CEO to replace Musk”

Summary

• Company may adjust pricing strategy amid U.S. tariffs
• CEO Hallmark says U.S. stockpile sufficient until early June
• Company posts narrower-than-expected Q1 loss, affirms full-year view
• Analysts highlight ample stock at U.S. dealers as advantage

(Reuters) – Aston Martin will split the costs resulting from U.S. tariffs between the company and its customers, and will sell down its U.S. inventory while limiting shipments there, the luxury carmaker’s chief executive said on Wednesday. Continue reading “Aston Martin limits US exports, mulls pricing adjustment to offset tariff hit”

Summary

• Stellantis and Mercedes-Benz withdraw financial guidance
• Follows similar moves by General Motors and Volvo Cars
• Volkswagen’s downbeat guidance doesn’t factor in tariffs

LONDON, (Reuters) – Unable to predict the impact of U.S. President Donald Trump’s ever-changing trade war, Stellantis and Mercedes-Benz became the latest automakers on Wednesday to scrap their profit guidance citing market uncertainty wrought by tariffs. Continue reading “Trump tariff whiplash pushes more automakers to scrap profit guidance”

Summary

• Q1 EBIT drops 41% to 2.3 billion euros
• In talks with Trump team to boost US manufacturing presence
• Q1 car and van sales down 10% in Europe, China; up 1% in US

BERLIN, (Reuters) – Mercedes-Benz on Wednesday pulled its earnings guidance for 2025 amid uncertainty over the impact of U.S. President Donald Trump’s tariffs on car imports, as the German automaker posted sharply lower first-quarter profit. Continue reading “Mercedes pulls earnings guidance amid Trump tariff uncertainty”

Summary

• Porsche profit warning weighs on Volkswagen guidance
• Too soon to factor trade war into outlook, CFO says
• Higher battery-electric sales diluted margins
• Costs must come down to stay competitive – CFO

STUTTGART, Germany, (Reuters) – Volkswagen said on Wednesday that profit margins this year were likely to be towards the bottom of its guidance range and joined a chorus of automakers warning that U.S. trade policy was making it almost impossible to make financial predictions. Continue reading “Volkswagen reins in margin hopes as tariffs cloud prospects”

(Reuters) – Tesla board members reached out about a month ago to several executive search firms to find a successor to CEO Elon Musk, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions.

The current status of the board’s push, which, according to the report, was sparked by Musk’s heavy involvement with the Trump administration, could not be determined, WSJ said. Continue reading “Tesla board looked for new CEO as Musk focused on White House, WSJ reports”

Summary

• House votes to rescind EPA’s approval of California’s zero-emission truck plans
• CARB claims votes violate Congressional Review Act and GAO analyses
• Republicans argue rules increase vehicle prices, burdening families and truckers

WASHINGTON, (Reuters) – The U.S. House of Representatives on Wednesday voted to rescind the Environmental Protection Agency’s 2023 approval of California’s plans to require a rising number of zero-emission heavy-duty trucks. Continue reading “US House votes to rescind approval for California heavy-duty truck rules”

Source : PTI | The Maharashtra cabinet on Tuesday approved Electric Vehicle Policy 2025 as per which certain electric vehicles plying on highways will be given a toll waiver, and subsidies on purchase of such vehicles to boost their use to help bring down air pollution. The policy was approved in the state cabinet meeting chaired by Chief Minister Devendra Fadnavis. A statement said the policy will be valid till 2030 and Rs 1,993 crore will be earmarked for the sector.

“The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state,” Fadnavis said after the meeting. Continue reading “Subsidy, toll waiver: Maharashtra govt seeks to boost electric mobility under new EV Policy”

Source : PTI | New Delhi: Shares of crisis-hit Gensol Engineering continued to slide on Wednesday, declining 5 per cent, to hit another lower circuit limit. The stock tumbled 4.99 per cent to Rs 78.10 — its lowest trading permissible limit for the day as also a 52-week low — on the BSE.

Shares of the firm slumped 5 per cent to hit the lower circuit as well as a 52-week low level of Rs 77.29 at the NSE. Continue reading “Gensol Engineering shares hit fresh lower circuit limit; down for 15th straight day”

Source : PTI | Battery-swapping solutions provider Indofast Energy on Wednesday said it will deploy 20,000 electric bikes across key tier I/II cities in the next 24 months in collaboration with EVeez for last-mile delivery. The cities include Chennai, Mumbai, Pune, Jaipur, Lucknow, and Vijayawada, a company statement said.

Indofast Energy and EVeez have been working together to accelerate EV adoption in the last-mile delivery space, and this expansion marks a significant step toward making electric mobility more accessible and efficient for gig workers, it said. Continue reading “Indofast Energy partners EVeez to deploy 20,000 electric bikes”

(Reuters) – Tesla in an update on Semi, said that the first units of the electric trucks will be on the production line by the end of 2025 at its Nevada gigafactory campus.

Dan Priestley, who leads the Semi program at Tesla, said in a video posted to YouTube on Monday, that the factory has an annual capacity of 50,000 units, adding that the company will prepare for high volume production over the next few quarters. Continue reading “Tesla’s Semi factory in Nevada to have first trucks in production by end of 2025”

Summary

• Volvo to cut costs by 18 billion crowns, restructure US operations
• Withdraws financial guidance for 2025 and 2026
• First-quarter profit drops 60% to 1.9 billion crowns
• Shares fall 10%
• New CEO Samuelsson plans to leverage Geely for cost synergies

STOCKHOLM, (Reuters) – Volvo Cars announced 18 billion Swedish crowns ($1.87 billion) in cost cuts and a restructuring of its U.S. operations on Tuesday and withdrew its earnings forecast for the next two years, sending shares down 10%. Continue reading “Trump tariffs force Volvo Cars to drop guidance, launch cost cuts”

WASHINGTON, (Reuters) – GM is recalling 721,000 SUVs and trucks worldwide due to engine issues that could lead to a loss of power and boost the risk of a crash, the company announced on Tuesday.

The Detroit automaker is recalling 2021 through 2024 model-year Cadillac Escalade and Escalade ESV, Chevrolet Silverado 1500, Suburban, and Tahoe, GMC Sierra 1500, Yukon, and Yukon XL vehicles with 6.2L V8 gas engines. Continue reading “GM recalling 721,000 vehicles over engine issue”

Summary

• Trump administration touts deal to aid US auto manufacturers
• Duties to be cut on foreign parts, but not those from China
• Auto makers would receive credits on value of vehicles assembled in US
• Auto companies had appealed to Trump for tariff relief

WASHINGTON, (Reuters) – U.S. President Donald Trump on Tuesday will soften the blow of his auto tariffs through an executive order mixing credits with relief from other levies on parts and materials, after automakers pressed their case with the administration. Continue reading “Trump set to soften auto tariffs after industry pushback”

DUESSELDORF, Germany, (Reuters) – DHL Express, a division of Germany’s Deutsche Post will resume global business-to-consumer shipments worth over $800 to individuals in the United States after a “constructive dialogue” with U.S. authorities, DHL said on Monday.

DHL blamed the halt it implemented on April 21 on new U.S. customs rules which require formal entry processing on all shipments worth over $800. The minimum had been $2,500 until a change on April 5. Continue reading “DHL resumes global shipments of over $800 to US consumers”

Summary

• Q1 profit margin falls to 8.6% from 14.2%
• Porsche slashes margin target to 6.5-8.5% range
• Sales now expected to reach 37-38 billion euros
• Porsche to release Q1 results later on Tuesday
• Shares down 6% in early Frankfurt trade

FRANKFURT, (Reuters) – Porsche’s margins plunged in the first quarter, it said on Tuesday, forcing the sportscar maker to cut its 2025 outlook in the wake of weakness in China, its main market, rising supply chain costs and U.S. tariffs that are disrupting the global car industry. Continue reading “Porsche cuts outlook as US tariffs, China weakness hit in Q1”

(Reuters) – Tesla in an update on Semi, said that the first units of the electric trucks will be on the production line by the end of 2025 at its Nevada gigafactory campus.

Dan Priestley, who leads the Semi program at Tesla, said in a video posted to YouTube on Monday, that the factory has an annual capacity of 50,000 units, adding that the company will prepare for high volume production over the next few quarters. Continue reading “Tesla’s Semi factory in Nevada to have first trucks in production by end of 2025”

WASHINGTON, (Reuters) – CEOs and senior executives from Nvidia, Johnson & Johnson, Hyundai Motor, Toyota Motor, and SoftBank Group are among the more than two-dozen business leaders slated to visit the White House on Wednesday for an event highlighting U.S. investments, officials told Reuters.

President Donald Trump plans to promote a broad range of investments in the United States in defense, tech, healthcare and consumer products industries and investment funds marking his first 100 days in office at an “Investing in America” event, a White House official told Reuters. Continue reading “Trump to tout US investments from Nvidia, J&J, Hyundai, Toyota”

Summary

• Lutnick touts “deal” to help domestic manufacturers
• Duties on foreign parts to be reduced
• Auto companies appealed to Trump

WASHINGTON, (Reuters) – President Donald Trump’s administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said. Continue reading “Trump to reduce impact of auto tariffs, commerce secretary says”

Source : PTI | The biogas sector has received investment commitments of more than Rs 200 crore at renewable energy exhibition RenewX 2025, industry body Indian Biogas Association (IBA) said on Sunday. The three-day expo was held at the Chennai Trade Centre, Nandambakkam from April 23 to 25. The event, organised by Informa Markets, saw investment commitments of Rs 200 crore through various MoUs (memorandum of understandings) in the biogas industry, IBA sid in a statement.

RenewX brought together stakeholders from across the bioenergy, solar, wind, energy storage, and management sectors, offering a platform for strategic collaborations and progressive discussions. Continue reading “Biogas sector gets Rs 200 cr investment commitments at RenewX 2025: IBA”

Source : PTI | Tata Motors on Monday said its board will later this week consider a proposal to raise up to ₹500 crore through the issue of securities on a private placement basis.

A meeting of the duly constituted Committee of the Board of Directors of the Company is scheduled to be held on May 2 to consider and approve the issuance of rated, listed, unsecured, redeemable, non-convertible debentures on a private placement basis aggregating up to ₹500 crore, the automaker said in a regulatory filing. Continue reading “Tata Motors board to consider raising ₹500 crore via securities this week”

(Reuters) – The California Department of Motor Vehicles said Friday it is proposing to allow testing of self-driving heavy-duty trucks and other large vehicles on state public roads.

California currently allows self-driving light-duty passenger vehicles for testing on public roads but not heavy-duty vehicles weighing more than 10,001 pounds, which manufacturers are testing in states like Texas, Arizona, and Arkansas. Continue reading “California proposes to allow self-driving heavy-duty truck testing”