Summary

• Soaring diesel prices threaten to idle independent drivers and small fleets
• Diesel price rise outpacing that of gasoline, putting more pressure on truckers
• US trucking industry dominated by small firms

NEW YORK/LOS ANGELES, (Reuters) – The more than 3 million U.S. truckers who move goods for everything from grocery stores to factories to construction sites are grappling with the highest diesel prices in years, compounding pressure on the industry as Iran war-related ​oil price spikes also threaten to weaken freight demand.

Diesel is the second-largest operating expense for truckers and the national average retail price has jumped $1.89, or 50%, since the start of the ‌Iran war effectively halted shipping through the Strait of Hormuz, a vital artery for global energy flows. Crude oil prices, which underpin diesel and gasoline, also surged, driving up transportation costs and prices for many consumer goods. Continue reading “US truckers’ diesel spending hits record high on Middle East conflict”

BERLIN, (Reuters) – Volkswagen is expected to take a hit to first-quarter earnings from ​the decision to end production of ‌its ID.4 electric SUV at the German carmaker’s Tennessee plant, analysts said on Tuesday ​after a call with management.

Volkswagen will ​book a charge equivalent to 60% to 75% ⁠of its original $800 million investment to ​retool the Chattanooga plant to produce ​the model, Bernstein analysts said.

A Volkswagen spokesperson confirmed that Bernstein’s calculations were correct. Continue reading “Volkswagen faces Q1 charge after halting EV production in Tennessee, analysts say”

SEOUL, (Reuters) – South Korean AI chip startup DEEPX will expand its partnership with Hyundai Motor Group to develop a computing platform for generative AI robots using its ​second generation of low-power chips, its top executive said, as it gets set ‌for an IPO.

DEEPX is in talks with the government and investors to raise more than 600 billion won ($408 million) in an ongoing funding round, in the run-up to a potential IPO in South Korea, DEEPX CEO ​Lokwon Kim said. Continue reading “Korean AI chip startup DEEPX, Hyundai work on robots powered by generative AI”

(Reuters) – Uber has committed more than $10 ​billion to buying thousands of autonomous vehicles ‌and taking stakes in their developers, breaking from its asset-light “gig economy” business model to avoid disruption from robotaxis, ​the Financial Times reported on Wednesday.

Reuters could ​not immediately verify the report. Uber did not immediately ⁠respond to a Reuters request for comment. Continue reading “Uber commits $10 billion to robotaxis in strategy shift, FT says”

(Reuters) – Used car retailer CarMax reported a fourth-quarter loss on Tuesday, hurt by a goodwill impairment charge and ​shrinking margins from used vehicles.

Shares of the Richmond, ‌Virginia-based company fell 6.8% in premarket trading.

The used-car sector has struggled to move inventory at profitable prices, with softening consumer demand ​and import tariffs squeezing margins across the industry. Continue reading “CarMax posts quarterly loss on goodwill charge, weak used-car demand”

(Reuters) – Lucid on Tuesday named former Schindler top boss Silvio Napoli as its next CEO and said it is raising more than $1 ​billion as the electric vehicle maker shores up liquidity during a crucial ‌and costly manufacturing ramp-up.

Shares of the company closed down about 5% as some analysts said the fundraise, made up of stock offerings and investments, would do little to ease liquidity pressures and more money would have ​to be raised at terms that dilute existing shareholders. Continue reading “Lucid taps former Schindler chief as CEO, raises $1 billion to shore up liquidity”

Saitama, Japan – Marelli, a global Tier 1 automotive supplier, today announced the appointment of Frederick “Fritz” Henderson as the company’s Interim Chief Executive Officer, effective immediately.  Henderson succeeds David Slump, who will continue to serve on Marelli’s Board of Directors through the company’s emergence from the ongoing Chapter 11 restructuring process.

Separately, the Ad Hoc Group of lenders to Marelli today announced their plan to appoint Laurent Favre as Marelli’s future Chief Executive Officer at the conclusion of Henderson’s tenure as Interim Chief Executive Officer. Continue reading “Marelli Announces Leadership Appointments”

(Reuters) – Electric vehicle company Slate Auto on Monday said it has raised $650 million in ​a Series C funding round, as ‌the Jeff Bezos-backed firm gears up to deliver its first vehicles late this year.

The company has ​touted its pickup trucks as being affordable ​and hopes to capitalize on the ⁠lower price tag to draw in customers ​grappling with high cost of living.

Slate did not ​immediately respond to a Reuters request for comment on its valuation. Continue reading “Bezos-backed EV firm Slate Auto raises $650 million”

Summary

• Case could help shape settlement talks in over 3,000 cases
• Uber recently lost the first case to go to a federal jury
• Plaintiff accused driver of groping her, suggestive comments

(Reuters) – After a key setback in the first trial of its kind before a federal jury, Uber ​is expected to return to court on Tuesday to face a second woman’s claims that she was sexually assaulted by ‌a driver she booked through the app.

The jury trial in Charlotte, North Carolina federal court, which is expected to last about three weeks, will help determine whether a recent $8.5 million verdict in Arizona was a fluke or a sign of real trouble for Uber as it faces more than 3,300 similar lawsuits that have been consolidated ​in federal court. Continue reading “Uber faces second driver sexual assault trial following $8.5 million verdict”

BEIJING, (Reuters) – Electric vehicle maker ​BYD said a fire broke out at ‌a parking garage in a Shenzhen industrial park on Tuesday morning.

The garage was a parking ​area for “test and scrapped vehicles” and ​the fire had been extinguished, the carmaker ⁠said in a statement on Tuesday.

No ​casualties were reported, the company added. Continue reading “China’s BYD says fire broke out at parking garage in Shenzhen; no casualties”

(Reuters) – High petrol prices in Europe steered car buyers towards EVs in a record-beating March, and led to the first month of global ​EV sales growth this year, data by consultancy Benchmark Mineral ‌Intelligence showed on Tuesday.

Governments worldwide have capped fuel prices to shield motorists from soaring costs after the war in Iran, which erupted on Feb. 28, disrupted a key shipping route carrying ​about 20% of global oil supplies. Continue reading “Surging petrol prices drive record EV sales in Europe in March”

Summary

• To cut global lineup to 45 models from 56
• Aims to deploy AI driving tech in 90% of vehicles
• CEO unveils new hybrid Rogue, electric Juke models
• Nissan aims for 1 million annual sales each in US, China by FY2030

YOKOHAMA, Japan, (Reuters) – Nissan Motor plans to streamline its global ‌automobile lineup by exiting low-performing ones and deploy its artificial intelligence driving technology across 90% of its array over the long term as it targets a revitalisation after years of turmoil.

Japan’s fourth-biggest automaker said in a statement on Tuesday it will reduce the number of its models to ​45 from 56. It will target annual sales of 1 million vehicles each in the U.S. and China by ​the 2030 financial year and grow its annual sales volume in Japan to 550,000 cars by ⁠that time. Continue reading “Nissan to trim global car lineup, boost use of AI driving tech”

SHANGHAI, (Reuters) – Geely Auto on Monday launched its i-HEV Intelligent Hybrid system, aiming to challenge the dominance of Japanese automakers in the conventional ​hybrid vehicle segment by improving fuel efficiency and intelligence capabilities.

The ‌i-HEV system integrates an AI-driven energy management platform that analyses real-time environmental conditions such as temperature, humidity and altitude to help boost energy efficiency, Geely said ​in a statement. Continue reading “China’s Geely launches new hybrid system to challenge Japanese dominance”

Summary

• Top labor inspection official defied order from labor minister, sources say
• BYD contractor was accused of labor abuses in 2024 case
• Dismissal deepens tensions between Lula government and labor inspectors

RIO DE JANEIRO, (Reuters) – Brazil’s secretary of labor inspection was fired for adding Chinese automaker BYD to a registry ‌of employers accused of subjecting workers to conditions described by the government as similar to slavery, two people close to the matter told Reuters.

Luiz Felipe Brandao de Mello disobeyed an order from Labor Minister Luiz Marinho to leave the electric vehicle maker off Brazil’s ​labor abuse “dirty list,” said the sources, who requested anonymity to discuss the matter. Continue reading “Brazil’s top labor inspector fired for adding China’s BYD to ‘dirty list,’ sources say”

• Sold 20,028 cars in Q1 2026, marking its best-ever quarter
• A jump of 17% from the same period in 2025
• Continues its record-breaking momentum from its Biggest Year in 2025
• Growth driven by enhanced product portfolio and expanding market reach

Mumbai, April 01, 2026 – Škoda Auto India continues its strong growth trajectory into 2026, recording its highest-ever quarterly sales in Q1 (January–March) with 20,028 units sold. This is a growth of 17% over the 17,138 cars sold in the same period last year. Building on a landmark 2025, Škoda Auto India has sustained its growth surge and is continuing to break its own records, further accelerating its momentum in the Indian market. Škoda Auto India’s performance has been led by the strong and consistent demand for the Kylaq, which recently crossed the 50,000 sales milestone, the introduction of the new Kushaq, steady contribution from the Slavia, and the continued demand for the Kodiaq in the premium SUV segment.  Continue reading “Škoda Auto India continues surge; records highest-ever quarterly sales in Q1 2026”

PARIS, (Reuters) – Chery is looking to expand car production in Europe through partnerships with other automakers allowing it to use existing factories, top executives at the Chinese carmaker said ​at an event in Paris.

“The company is looking for other production capacities in ‌Europe,” Lionel French Keogh, chief commercial officer for France for Chery Automobile told Reuters on the sidelines of a launch event for the automaker’s Omoda and Jaecoo brands in France held late on Friday. Continue reading “China’s Chery looking to expand car production in Europe, top executives say”

Source : PTI | The ceasefire in West Asia is expected to help lift market sentiments in India, making luxury car customers who held back purchases to come back to showrooms to take deliveries, according to top officials of Mercedes-Benz, BMW Group and Audi in the country.

Having resorted to stocking up of parts and kits, the luxury carmakers hope that the pressure on supply chain will be eased while looking forward to a return to normalcy at the earliest. Continue reading “Luxury carmakers hope West Asia ceasefire will lift consumer sentiment”

Source : PTI | In a far-reaching move, the Delhi government on Saturday proposed a hugely reformist electric vehicle policy, which includes zero registration fee and road tax on EVs priced up to 30 lakh, massive proliferation of charging stations and a ₹1 lakh incentive on purchase of new EVs upon scrapping old vehicles.

The draft policy, which also requires at least 10 per cent of school buses to be electrically powered within two years, is largely aimed at reducing vehicular emissions, which have made Delhi one of the most polluted cities in the world.

Continue reading “Delhi’s push for clear air: No tax on EVs up to ₹30 lakh, only electric 2-wheelers from Apr 2028”

Source : PTI | The national capital saw a 29 per cent rise in electric vehicle registrations in 2025-26 compared to the previous year, while petrol vehicle registrations continued to grow, data analysed by Envirocatalysts has showed.

Experts say the new electric vehicle (EV) policy and recent trends point to a further increase in EV purchases in the coming years. Continue reading “EV registrations jump 29% in Delhi, petrol vehicles still dominate: Analysis”

(Reuters) – Hyundai Motor ​America is recalling 294,128 vehicles ‌in the U.S. due to a defect that could ​cause seat belt ​anchors to detach, the U.S. ⁠National Highway Traffic Safety ​Administration said on Friday.

Here are ​some details:

• The recall covers Hyundai Ioniq 6, Genesis G90, Hyundai ​Santa Fe, and Hyundai ​Santa Fe Hybrid vehicles, the NHTSA ‌said.
• A ⁠detached seat belt anchor may fail to properly restrain an occupant, increasing ​the risk ​of ⁠injury in a crash, according to the ​auto regulator.
• The agency ​said ⁠that dealers will inspect and reinforce or replace ⁠the ​seat belt anchors, ​as necessary.

Continue reading “Hyundai to recall over 294,000 US vehicles over seat belt anchor defect”

Summary

• SpaceX’s IPO would vault it to the top of many valuation categories
• But some fans say standard thinking about the firm’s peers overstates its risk
• They contend the key factor is SpaceX’s competitive position in hot markets
• NEW YORK, (Reuters) – Wall Street is reaching for some unusual yardsticks to price Elon Musk’s SpaceX.

At least one of SpaceX’s large institutional investors is privately benchmarking the rocket and satellite company not against aerospace rivals like Boeing (BA.N), opens new tab or telecom giants like AT&T but against market darling Palantir Technologies and AI infrastructure plays like GE Vernova and Vertiv – in a bid to ​justify a $1.75 trillion valuation ahead of what could be the largest IPO in history.

The framework, described to Reuters for the first time by a source familiar with the company’s thinking, illustrates the unusual challenge of pricing a company with no obvious ‌public peers – and the lengths to which Wall Street is going to rationalize a premium valuation. Continue reading “The unconventional logic behind SpaceX’s $1.75 trillion price tag”

Summary

• Indian state raises minimum wages in first such move after Iran crisis
• Disrupted gas supplies mean higher food prices, workers say
• Protests in Indian auto hub had triggered widespread concerns
• Some companies are offering meals, bonuses to keep staff

MANESAR, India, (Reuters) – India’s auto-making state of Haryana ordered a 35% hike ​in minimum wages on Friday, after factory workers boycotted work and staged protests this week over rising living costs as a result ‌of the U.S.-Israeli war on Iran.

Haryana’s government said it was raising the minimum wage for unskilled workers to $165 per month, from roughly $120, effective April 1, a move that helps workers but will raise cost pressures for India’s auto industry at a time of rising input prices and supply chain disruptions. Continue reading “Indian auto hub hikes minimum wage after protests over soaring costs due to Iran war”

Summary

• Nod comes after 18 months of testing and analysis
• Dutch regulator to seek broader European approval
• Wider adoption in Europe likely to boost Tesla vehicle sales -analyst

AMSTERDAM/SAN FRANCISCO, (Reuters) – Dutch regulators approved the use ​of Tesla’s self-driving software with required human supervision on highways and city streets in a European first for the electric ‌car maker, which hopes to see similar action from the rest of the European Union.

Wide FSD adoption is central to Tesla’s growth strategy. Much of the company’s $1 trillion valuation hinges on Chief Executive Elon Musk’s bet that artificial‑intelligence-driven self‑driving software and robotaxis will become a major revenue stream. Continue reading “Tesla’s supervised self-driving software gets Dutch okay, first in Europe”

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Summary

• Used Polestar sales up 47% in Q1
• Financial forecast expected in Q4 earnings report
• US sales decline to 5.6% of total amid strong competition and economic ​pressures

(Reuters) – Polestar CEO Michael Lohscheller said on Thursday used-car sales were exceeding those of new vehicles, as a jump in gasoline and diesel prices from the war ​in Iran drives customers toward less-expensive EV options.

Used electric vehicles sales in ​Europe have been boosted by the war in Iran, online ⁠car platforms told Reuters last month. Continue reading “Polestar CEO talks up used-car market as higher fuel prices spur shift to cheaper EVs”

Source : PTI | German auto major Volkswagen group is targeting 5 per cent market share in the Indian passenger vehicles market before the turn of the decade with alternative fuel technologies slated to play a key role in achieving the target, a senior company official said on Thursday.

The group, which in 2018 announced its India 2.0 strategy led by group brand Skoda had set a target to achieve 5 per cent market share by 2025 but missed it due to events like the COVID-19 pandemic, currently has about 2.5 per cent share in India.

Continue reading “Volkswagen group eyeing 5% market share in India before turn of decade: SAVWIPL MD & CEO”

Summary

• Compact SUV is in early development stage, sources say
• Car would be shorter than Model Y, and would be built in China, sources say
• Tesla didn’t respond to Reuters questions about its plans for a new vehicle

(Reuters) – Tesla is developing an all-new smaller, cheaper electric SUV, four people familiar with the matter told Reuters.

The automaker has contacted suppliers in recent weeks to discuss details of the plan for the compact SUV – which would be a new vehicle and not a variant of Tesla’s current Model 3 or ​Y, the people said. The conversations involved the manufacturing process and specifications for various components, they said. Continue reading “Tesla is developing a new smaller, cheaper EV, sources say”

BERLIN, (Reuters) – Mercedes-Benz reported a sales slump at the start of 2026 as the ​tough Chinese market continued to pressure the German ‌premium carmaker during an overhaul of its model lineup to regain lost ground.

First-quarter sales in the company’s core car business fell 6% to ​419,400 vehicles globally from the same period a ​year ago, it said in a statement on ⁠Thursday. Continue reading “Mercedes Q1 sales down in tough ‘transition year’ for China business”

BEIJING, (Reuters) – Car exports, an increasingly important source of growth for China’s hyper-competitive auto sector, picked up ​pace in March despite shipment disruptions from the crisis in ‌the Middle East, one of the industry’s key overseas markets.

Exports grew 73.7% from a year earlier to nearly 700,000 vehicles last month, faster than the 54.1% in the first two months, ​data from the China Passenger Car Association showed on Thursday. Continue reading “China’s car exports accelerate despite disruption from Mideast crisis”

(Reuters) – General Motors is recalling 271,770 ​cars in the ‌U.S. over an issue with the ​rearview camera, ​the U.S. National Highway ⁠Traffic Safety ​Administration (NHTSA) said on Wednesday.

Here ​are some details:

• Recall includes Chevrolet Malibu sedans, NHTSA ​said.
• The rearview ​camera screen may display a ‌distorted ⁠or blank image, reducing the driver’s view behind ​the ​vehicle, ⁠according to the NHTSA.
• The agency ​said that ​dealers ⁠will inspect and replace the ⁠rearview ​camera.

Continue reading “General Motors recalls over 270,000 cars in US over rearview camera issue”

BEIJING, (Reuters) – Chinese electric truck startup Windrose said ​it had made the ‌first delivery of its long‑haul electric heavy truck in ​the United States, marking ​a key step in ⁠its global expansion.

The vehicle, ​priced at $285,000, was handed ​over to Texas logistics firm Allogic and charging partner Greenspace through ​Windrose’s American partner ​on April 1, the company said ‌in ⁠a statement on April 3. Continue reading “Chinese electric truck maker Windrose makes first US delivery”

Summary

• Opel-branded electric SUV to be made in Spain, sources say
• Production expected to start in 2028, targeting 50,000 vehicles a year
• Deal would help Stellantis cut the cost and time to develop new EV model

SHANGHAI/MILAN, (Reuters) – Stellantis is in advanced talks with Leapmotor to jointly develop an Opel-branded electric SUV that ​would use the Chinese automaker’s technology and be produced at Stellantis’ Zaragoza plant in Spain, three sources told Reuters.

The deal, if finalised, ‌would help Stellantis cut the cost and time to develop a new EV model, as the French-Italian automaker shifts focus to petrol-electric hybrid cars. Earlier this year it announced a $25 billion writedown related to scaling back its EV plans. Continue reading “Stellantis in advanced talks to develop Opel EV with China’s Leapmotor, sources say”

WASHINGTON, (Reuters) – U.S. carmakers say rules under consideration by Brussels could ​keep full-size pickup trucks including the Ford F-150, the Chevy ‌Silverado and the Ram 1500 off European roads, according to a letter seen by Reuters.

Andrew Puzder, the U.S. ambassador to the bloc, told the Financial Times that ​the EU plans to change safety rules that could breach ​the spirit of the trade deal struck in August between the United ⁠States and the EU if they prevented some American vehicles from ​being sold in Europe. Continue reading “US carmakers say proposed EU rules could block large pickup trucks from Europe”

SEOUL, (Reuters) – South Korean automaker Kia Corp plans to boost its investment ​plan over the next four years by 30% to boost ‌vehicle electrification, software and other new businesses, according to an investor presentation on Thursday.

The company plans to raise its investments to 41.4 trillion won ($27.95 ​billion) from 2026 to 2029, it said. Continue reading “Kia boosts investment plan by 30% over the next four years; shares fall”

Source : PTI | China on Tuesday announced an increase in gasoline and diesel prices for the second time in about a fortnight due to rising international oil prices triggered by the ongoing war in West Asia.

China’s top economic planner, the National Development and Reform Commission (NDRC), announced that the new round of price hikes will take effect from Wednesday. Continue reading “China hikes gasoline, diesel prices for second time in fortnight”

Source : PTI | Maharashtra Chief Minister Devendra Fadnavis said on Wednesday that Vietnam-based Vingroup has committed to investing $8.5 billion in the state over the next two years in projects, including electric mobility solutions, social and public infrastructure, tourism and entertainment.

The projects have the potential to create nearly 24,700 jobs, he said. Continue reading “Vietnam’s Vingroup to invest $8.5 billion in Maharashtra: Fadnavis”

Source : PTI | Interest rate-sensitive realty, auto and bank stocks were in high demand on Wednesday, a day when the Reserve Bank of India kept its key policy rate unchanged, adopting a wait-and-watch stance as policymakers assessed the fallout from the Iran conflict on energy supplies, inflation and growth.

A sharp rally in the broader equity market also aided buying in these stocks. Continue reading “Auto stocks surge up to 12% after RBI holds rates steady”