automotive-industry
Top StoriesToyota Unit Falsified Emissions Data From at Least 2003, Probe Finds
Top StoriesAston Martin Says Finances to Improve as Supply Chain Snags Ease
Top StoriesStellantis CEO Says Easing Chip Crunch Could Throttle Back Pricing Power
Top StoriesPorsche Listing Plans on Track, Volkswagen CFO Says
Volkswagen Investors Question Plan for CEO to Lead Porsche Listing
Date: July 25, 2022
By Victoria Waldersee and Ilona Wissenbach BERLIN/FRANKFURT (Reuters) -Volkswagen investors believe incoming CEO Oliver Blume will struggle to lead both the Volkswagen Group and Porsche – and to pull off a planned listing of the sports car maker while wearing both hats. Friday’s announcement that group CEO Herbert Diess would be replaced by Porsche boss...
Analysis-‘Unknowns’ Delay Tesla’s Ramp-Up of Its Own Cutting-Edge Batteries
Date: July 21, 2022
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla Inc is falling short of CEO Elon Musk’s target to make its own next-generation batteries, sparking questions over the top electric car maker’s ability to maintain its blistering expansion of auto production next year and beyond. Tesla said on Wednesday it would rely on suppliers to meet...
Continental Beats Expectations With 4.4% Margin in Q2
Date: July 20, 2022
BERLIN (Reuters) -Continental reported better-than-expected sales of 9.4 billion euros ($9.63 billion) in the second quarter on Wednesday with an adjusted earnings margin of 4.4%, slightly above analysts’ expectations of 4.2%. The car parts supplier, which in May cut its earnings forecast to 4.7%-5.7% from 5.5-6.5%, confirmed the lower outlook in preliminary results ahead of...
Volvo Cars Sees Flat or Lower Retail Sales This Year
Date: July 20, 2022
By Helena Soderpalm STOCKHOLM (Reuters) -Volvo Cars flagged a potential dip in retail sales this year after posting higher second-quarter profits. Supply problems, above all a global shortage of semiconductors, have squeezed output and retail sales in recent quarters, but Volvo said it was seeing a “marked improvement” in the stabilisation of its supply chain....
How China Became Ground Zero for the Auto Chip Shortage
Date: July 19, 2022
By Sarah Wu, Jane Lanhee Lee and Kevin Krolicki TAIPEI/SHANGHAI/SINGAPORE (Reuters) – From his small office in Singapore, Kelvin Pang is ready to wager a $23 million payday that the worst of the chip shortage is not over for automakers – at least in China. Pang has bought 62,000 microcontrollers, chips that help control a...
Stellantis, China’s Gac to Terminate Loss-Making Joint Venture
Date: July 18, 2022
PARIS (Reuters) -Stellantis and Guangzhou Automobile Group will end their loss-making joint venture producing Jeep vehicles in China, the carmakers said on Monday, only four months after the European carmaker said it would raise its stake in the business. The U-turn comes after GAC reprimanded the world’s No.4 carmaker in January for announcing plans to...