AUTOMAKER
India-UK FTA welcome move; not much bearing on car prices: Mercedes-Benz, BMW
Mercedes-Benz and BMW view the India-UK FTA positively, anticipating it will foster growth through free trade. However, they suggest the agreement's impact on luxury car prices in India will be limited due to the prevalence of CKD imports and quota restrictions. Both companies emphasize their commitment to local production and localization within the Indian market.
Kia Sportage 2026 pricing revealed as sales surge: Can the SUV withstand Donald Trump’s tariffs and remain affordable?
The Kia Sportage 2026 will hit dealerships this summer with a renewed look, new features. Sales of Sportage’s earlier models have been at an all-time high in the US, and it is expected to continue this year.
Japanese tech company Panasonic cuts 4% of its global workforce as profits falter
he company said the slowing global economy and weaker demand for electric vehicles were a factor behind its weak results. But sales of air-conditioners and consumer electronics products held up in Japan, it said. The company's chief executive, Yuki Kusumi, told reporters his heart felt heavy in announcing the job cuts. Panasonic did not mention US president Donald Trump's tariff policies as a factor behind its drop in profit.
American car, made in Korea: Why General Motors is hurt by tariffs
General Motors faces tariff challenges. These tariffs impact earnings. Other automakers also face difficulties. Ford aims to offset costs. Experts note changing manufacturing locations. Tariffs may reduce affordable car options. The average new car price is already high. GM explores cost cuts and trade agreements. The company remains committed to its Korean operations. These operations are a global export base.
Can Schaeffler navigate US tariffs and industry softness to meet its full-year forecast?
Schaeffler, a German machine and car parts maker, saw its first-quarter revenue decline. The revenue fell short of market predictions. The company attributes this to industry softness. However, Schaeffler believes the impact of US tariffs is manageable. CEO Klaus Rosenfeld acknowledges a challenging market. Trade conflicts create planning difficulties. The company is assessing how to handle tariff costs.
Japan's Nikkei snaps 7-day winning streak as US tariff worries weigh
Nikkei witnessed a slight dip, ending a seven-session winning streak. Pharma stocks fell after Donald Trump's tariff announcement. Automakers also declined due to a stronger yen. Sony shares dropped following news of levy on foreign films. Trade talk hopes between US and China offered some optimism. Investors await Jerome Powell's remarks on interest rates.
Foxconn signs EV pact with Japan's Mitsubishi Motors
It marks Foxconn's first major contract in the fast-growing EV sector, and comes as analysts say many Japanese automakers will need to seek alternative partners to stay competitive as cars become more high-tech. Mitsubishi Motors and Foxtron Vehicle Technologies said they had signed a memorandum of understanding and would "proceed with discussions towards a definitive agreement".
Ferrari reports 15% rise in Q1 earnings, confirms forecasts despite tariff risks
Ferrari reported a 15% increase in first-quarter core earnings, reaching 693 million euros, driven by pricier models and strong demand for personalized features. Despite potential margin impacts from U.S. tariffs, the company reaffirmed its full-year guidance, projecting core earnings of at least 2.68 billion euros for 2025. Ferrari's first fully electric car is anticipated to be unveiled in October.
Is Tesla's vehicle program in crisis? Report says Cybertruck inventory has skyrocketed to a record high of over 10,000 units
Tesla's Cybertruck inventory in the US has reached over 10,000 units. Data shows a significant increase from April. This rise may be due to discounts. Tesla might have slowed down production. Many trucks were made in 2024. Some are from the discontinued Foundation Series. The company could have $800 million worth of Cybertrucks.
In 29 years of existence, Hyundai invested $6 billion scaling up operations in India
Hyundai Motor India commemorates 29 years in the Indian market with a USD 6 billion investment to expand operations. Since its establishment in 1996, Hyundai has become a trusted automotive brand, aiming for a production capacity of 1 million units by 2025 with its Talegaon facility. The company has exported over 3.
India can feed off China's misery again as global automakers eye desi drive
Nomura's report suggests that increased US tariffs on Chinese imports could benefit Indian auto part manufacturers as global automakers seek alternative suppliers. While the US-China trade tensions may negatively impact US demand and Indian discretionary consumption, India's ongoing negotiations for a bilateral trade agreement with the US could improve its competitive position by 2025.
Trump vs Toyota? Why US cars are a rare sight in Japan
Despite President Trump's complaints about trade imbalances, American cars struggle to gain traction in Japan, where domestic brands dominate due to size constraints, perceived reliability issues, and a lack of sales and repair infrastructure.
Audi to hike vehicle prices by up to 2 pc from May 15
Audi India announced it will increase vehicle prices by up to 2% across its entire model range starting May 15. The luxury carmaker attributes this price hike to the rising exchange rate and increased input costs. This adjustment is deemed essential for the company and its dealers to maintain sustainable growth while minimizing the impact on customers.
Mercedes pulls earnings guidance amid Trump tariff uncertainty
Mercedes-Benz reported a decline in car business profitability for the first quarter, with a margin of 7.3% compared to 9% last year. Group earnings also plummeted by 41% to 2.3 billion euros. Citing tariff volatility and trade tensions, particularly those influenced by President Trump's policies, the carmaker withdrew its full-year earnings outlook, anticipating negative impacts on margins.
Lutnick announces tariff relief for US-built cars with 85% domestic content
US Commerce Secretary Howard Lutnick announced that cars finished in the US with at least 85% domestic content will be exempt from tariffs. This policy, applicable to all vehicles built within the country, aims to incentivize manufacturers to increase US-based production. The tariff relief will be implemented gradually over three years, allowing automakers to adjust their supply chains.
Trump tariffs force more automakers to scrap profit guidance
Mounting trade tensions, spearheaded by unpredictable U.S. tariffs, have prompted Stellantis and Mercedes-Benz to retract their profit forecasts, mirroring similar actions by other automakers. The uncertainty is disrupting long-term planning and investment in the auto industry, already grappling with the shift to electric vehicles.
Aston Martin limits US exports to counter Trump's tariffs, quarterly loss narrows
Aston Martin announced it is curbing exports to the U.S. to mitigate the effects of tariffs imposed by former President Donald Trump. Despite these challenges, the luxury carmaker reported a smaller-than-anticipated first-quarter loss, attributed to reduced expenses and increased average selling prices. The company's adjusted pretax loss was ?79.8 million, outperforming analysts' expectations.
Trump to offer automakers some relief on his 25% tariffs, after worries they could hurt US factories
President Trump is set to sign an executive order easing some of the 25% tariffs on autos and auto parts, a move intended to boost domestic manufacturing jobs. The changes aim to prevent multiple tariffs on foreign-made vehicles and reduce tariffs on imported parts used in U.S. auto production.
Trump to offer automakers some relief on his 25% tariffs, after worries they could hurt US factories
President Trump will sign an executive order easing 25% tariffs on autos and parts, aiming to support US manufacturing and jobs. The move, welcomed by automakers, seeks to reduce costs and retroactively adjust enforcement. Experts warn, however, broader tariffs may still raise prices and hurt overall auto sales and growth.
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