(Reuters) – Italian luxury sports carmaker Lamborghini reported on Tuesday a 29.6% jump in revenue to 895.2 million euros, driven by strong global demand for its new hybrid models, the Revuelto and Urus SE, despite the complex global scenario.
Lamborghini, part of Germany’s Volkswagen group, also made an operating profit (EBIT) of 248.1 million euros, up 32.8% from the same period in 2024. Continue reading “Lamborghini quarterly revenue up 29.6% as hybrid models boost deliveries”
Summary
(Reuters) – Tesla’s new car sales in Britain and Germany plummeted to their lowest in over two years in April, falling 62% and 46% year-on-year respectively, even as demand for electric vehicles rose in both countries, national data showed on Tuesday. Continue reading “Tesla’s UK, Germany new car sales at two-year low in April even as EV demand rises”
(Reuters) – Uber said on Tuesday it was partnering with Pony AI (PONY.O) to deploy the China-based robotaxi developer’s vehicles onto its ride-hailing platform, marking the latest in a series of tie-ups aimed at strengthening its presence in the fledgling robotaxi sector.
The partnership will launch in a key market in the Middle East later this year and will roll out to more international markets in the future. Continue reading “Uber partners with China’s Pony AI to deploy self-driving taxis in key Middle East market”
Summary
MILAN, (Reuters) – Ferrari first fully electric model will hit the streets in October 2026, its CEO said on Tuesday as the luxury sports car maker posted a 15% rise in first-quarter core earnings and stuck to its broad financial guidance for the year. Continue reading “Ferrari to start deliveries of new EV in October 2026”
WASHINGTON, (Reuters) – Amazon.com’s self-driving unit Zoox agreed to recall 270 driverless vehicles after an unoccupied robotaxi was involved in an April 8 crash with a passenger car in Las Vegas.
Zoox said on Tuesday there were no injuries in the crash. The Zoox Automated Driving Systems in certain driving scenarios “may make an inaccurate prediction when another vehicle slowly approaches perpendicularly and stops. In these scenarios, the Zoox vehicle may not be able to avoid a crash.” Continue reading “Amazon’s robotaxi unit Zoox agrees to software recall after self-driving Las Vegas crash”
Summary
(Reuters) – Electric vehicle makers Rivian and Lucid warned of higher costs from U.S. tariffs on imported vehicles and auto parts, even as automakers scramble to rework sourcing of critical supplies and minimize disruption. Continue reading “EV makers Rivian, Lucid flag increasing costs as tariffs bite”
Summary
TOKYO, (Reuters) – Robust demand for hybrids is expected to underpin steady profits at Toyota when the world’s top automaker reports annual earnings on Thursday, although investors will be on high alert for any sign of a looming impact from U.S. tariffs. Continue reading “Toyota’s earnings buffered by demand for its hybrids, but US tariff hit looms”
(Reuters) – Rivian said on Monday it would invest $120 million to build a supplier park near its plant in Illinois, as the electric vehicle-maker gears up to produce its smaller, more affordable R2 SUVs next year.
The supplier park near Rivian’s facility at Normal, Illinois will reduce shipping, logistics and warehousing costs, while adding hundreds of jobs in the next two years, including about 100 directly by the company, it said. Continue reading “Rivian to build $120 million supplier park in Illinois”
PARIS, (Reuters) – Stellantis Chairman John Elkann and Renault CEO Luca de Meo urged the European Union to adopt more favourable rules for small cars, warning that the declining profitability of small cars could force plant closures without changes.
In a joint interview in French newspaper Le Figaro, Elkann and de Meo added that France, Italy and Spain should lead the effort as the demand for smaller, more affordable cars is the highest in these countries. They did not give details on the rules they wanted to see apply to small cars. Continue reading “Renault, Stellantis bosses urge more favorable EU rules for small cars”
Summary
DETROIT, (Reuters) – Ford Motor suspended its annual guidance on Monday because of uncertainty around U.S. President Donald Trump’s tariffs, saying the levies would cost the company about $1.5 billion in adjusted earnings before interest and taxes. Continue reading “Ford pulls guidance, warns it will take $1.5 billion hit from Trump’s tariffs”
Škoda Auto Volkswagen India Private Limited (SAVWIPL) today announced a key leadership transition with the appointment of Mr. Ashish Gupta as Brand Director of Škoda India, effective 1st May 2025. Mr. Ashish Gupta, currently Brand Director of Volkswagen Passenger Cars, takes over from Mr. Petr Janeba, who concludes his successful tenure in India and returns to Škoda Auto, Czech Republic. Mr. Janeba, who has been a part of the Škoda family since 1999, played a crucial role in strengthening the brand’s positioning and driving customer-focused growth strategies during his time in India. Continue reading “Leadership Transition At Škoda Auto Volkswagen India With Focus On The Local Talent”
Summary
STOCKHOLM, (Reuters) – Volvo Cars’ battery company Novo Energy said on Monday it will cut its workforce by 50% to reduce costs after evaluating its business to take account of the bankruptcy of Sweden’s Northvolt, which originally co-owned the venture. Continue reading “Volvo Cars’ battery company Novo Energy to cut half of workforce”
(Reuters) – Cummins withdrew its annual forecast on Monday, joining other vehicle manufacturers that are reassessing expectations as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump’s sweeping import tariffs.
The U.S. truck-engine maker had previously projected 2025 revenue growth ranging from a 2% decrease to a 3% increase, with core profit expected to comprise 16.2% to 17.2% of sales. Continue reading “Cummins withdraws 2025 financial forecast on tariff woes”
(Reuters) – Onsemi forecast second-quarter revenue above Wall Street expectations on Monday, as demand for its chips used in electric vehicles remains resilient despite economic uncertainty brought on by U.S. President Donald Trump’s tariffs on auto imports.
Orders for Onsemi’s silicon carbide chips have been helped in the first quarter by growth in EV sales in China and Europe, even as a 25% U.S. tariff on auto imports threatens to raise prices. Continue reading “Chipmaker Onsemi forecasts upbeat quarterly revenue on resilient demand from EV makers”
(Reuters) – General Motors on Monday named insider Duncan Aldred the president of its North America business, effective immediately, days after the automotive manufacturer cut its 2025 profit forecast on concerns over U.S. tariffs.
Aldred, who has been with GM for 33 years, was most recently vice president of the company’s commercial growth strategies and operations segment. Continue reading “GM appoints insider Duncan Aldred to lead North America business”
(Reuters) – Tesla’s new car sales in Spain fell 36% in April from the same month in 2024 to 571 vehicles, registration data released by industry group ANFAC showed on Monday, while sales of electric cars from other brands soared.
Over the first four months of 2025, sales of Teslas in Spain fell 17% over the same period a year earlier, while sales of electrified vehicles, a category that includes both fully electric vehicles and hybrids, were up 54%. Continue reading “New Tesla sales in Spain drop 36% in April despite EV sales surge”
STOCKHOLM, (Reuters) – Volvo Cars reported on Monday an 11% decrease in April sales to 58,881 cars from a year earlier, sending its shares down.
Volvo Cars, which is majority-owned by China’s Geely, said in a statement sales of fully electric cars fell 32% to account for 20% of total sales volumes. Continue reading “Volvo Cars sales fall 11% in April as fully electric cars slump”
Source : PTI | Car market leader Maruti Suzuki India’s share in the domestic passenger vehicle market fell below 40 per cent in April, while Mahindra & Mahindra emerged as the second largest player in the month, according to data released by FADA. Long-time number two player Hyundai Motor India Ltd (HMIL) has been pushed to fourth place with a market share of 12.47 per cent in April this year. Tata Motors maintained its third place with a market share of 12.59 per cent.
In April 2025, total domestic passenger vehicle (PV) retail sales stood at 3,49,939 units compared to 3,44,594 units in April 2024, a growth of 1.55 per cent, Federation of Automotive Dealers Associations (FADA) said. Continue reading “Maruti Suzuki market share dips below 40% in April”
By WAF Think Tank
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Source : PTI | New Delhi: Chartered accountants’ apex body ICAI is likely to complete the review of the financial statements of crisis-hit Gensol Engineering Ltd and BluSmart Mobility in six months, according to officials. ICAI’s Financial Reporting Review Board (FRRB) is reviewing the financial statements of the two companies for the financial year 2023-24.
Institute of Chartered Accountants of India (ICAI) officials on Saturday said the review of the financial statements is expected to be completed in six months.
Source : PTI | Even before US president Donald Trump announced a 25per cent tariff on all imported cars, European automakers had been facing a multitude of challenges. Sales have slumped and manufacturers face rising costs, while Chinese rivals have rapidly been gaining market share. The day before the tariffs announcement, the combined market capitalisation of Europe’s five major automakers (Volkswagen, Stellantis, Mercedes-Benz, BMW, and Renault) stood at around US$212 billion (£159 billion). This total is less than a quarter of the value of Tesla alone.
Yet the five European giants sell 25 million vehicles annually, accounting for a third of all cars purchased worldwide. Tesla, despite losing half of its market value since the beginning of the year, only just makes the top 15 automakers. It sells less than a third of what Stellantis alone delivers. Continue reading “Three strategies to help European carmakers regain edge”
Summary
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”
(Reuters) – Jaguar Land Rover has restarted shipments of vehicles to the United States after pausing them in the face of U.S. President Donald Trump’s tariffs, London’s Times newspaper reported on Saturday.
The first shipments of JLR vehicles bound for the U.S. for almost a month left Britain on Wednesday, the report said. Continue reading “Jaguar Land Rover restarts car exports to the US, London’s Times reports”
MIAMI, (Reuters) – Reduced profit expectations and a potential $5 billion hit from automotive tariffs will not affect Cadillac’s Formula One debut next season, General Motors President Mark Reuss said on Saturday.
Cadillac’s parent company GM cut its 2025 profit forecast this week in the wake of uncertainty over the wide-reaching tariffs introduced by President Donald Trump. Continue reading “GM says Cadillac F1 project not affected by auto tariff hit”
(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
(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
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”
Summary
(Reuters) – Tesla’s board on Thursday rushed to defend its chief executive, Elon Musk, assuring he had the board’s confidence amid rising investor worries about his prolonged absences, polarizing politics and the EV maker’s plunging sales and profit. Continue reading “Tesla without Musk? Board faces unique challenge whether he stays or goes”
WAF THINK TANK
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Summary
(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
(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”
