automotive-industry
Top StoriesStellantis Sees India as Profitable Auto Market Amid Challenges in China, Russia
Top StoriesRee Automotive to Build Commercial Ev Plant in UK’s Coventry
Top StoriesVolkswagen to Build 800,000 Fully-Electric Cars This Year
Top StoriesEv Maker Lucid to Launch Luxury Sedans in Europe in Late 2022
Volkswagen CEO Sees Tight Race With Tesla for E-Car Crown by 2025
Date: May 9, 2022
FRANKFURT (Reuters) -Volkswagen faces a tough road ahead to reach its self-imposed target of becoming the world’s largest seller of electric vehicles by 2025, its chief executive said on Monday, admitting rival Tesla was stronger than expected. “It will be a tight race but we won’t give up on it,” Herbert Diess said at the...
UK Auto Industry Cuts 2022 Outlook on Supply Snags, Rising Cost of Living
Date: May 5, 2022
(Reuters) – British new car sales this year will be lower than previously thought as the cost-of-living squeeze in Britain and persisting chip shortages impact the auto market, industry data showed on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said 2022 outlook for new cars registered has been cut to 1.72 million from...
Bmw Profit Gets Lift From Chinese Joint Venture, Strong Prices
Date: May 5, 2022
By Nick Carey LONDON (Reuters) – BMW posted a rise in first-quarter profit on Thursday, boosted by a reevaluation of the German car maker’s stake in its Chinese joint venture and strong pricing, and kept its 2022 outlook, despite volatile prices for commodities and energy. A global semiconductor chip shortage has hit car production across...
Bentley Q1 Profit Soars Despite Cars Lost at Sea and Stuck in China
Date: May 5, 2022
By Nick Carey LONDON (Reuters) – Luxury British carmaker Bentley on Thursday said its first-quarter operating profit jumped 162% versus the same period last year, as soaring vehicle prices offset the loss of some cars at sea and pandemic-related delivery problems in China. The Volkswagen unit said high customer interest in new models resulted in...
Volkswagen Sticks to Outlook as Size Offset Supply Chain Woes
Date: May 4, 2022
By Christoph Steitz and Jan Schwartz FRANKFURT (Reuters) -Volkswagen, Europe’s top carmaker, on Wednesday stuck to its outlook for 2022, shrugging off supply chain disruptions caused by the war in Ukraine and the pandemic by drawing on its global production network. Global carmakers, like most industrial sectors, face a scarcity of key components in the...
Audi, Porsche to Join Formula One, Vw CEO Says
Date: May 2, 2022
BERLIN (Reuters) -Volkswagen’s premium brands Audi and Porsche will join Formula One after convincing the German automaking group that the move will bring in more money than it will cost, VW Chief Executive Herbert Diess said on Monday. Discussions by the board of directors about the two brands’ plans had created some divisions, said Diess...