automotive-industry
BusinessVolkswagen to Recall Over 114,000 US Vehicles Over Airbag Concern, Nhtsa Says
BusinessAudi Unveils New Ev Brand in China Without Four Ring Logo
BusinessUmicore to Pause Construction of Battery Materials Plant in Canada
Top StoriesBmw Quarterly Profit Misses Expectations Due to Weak China Sales, Brake Issues
Honda Posts 15% Fall in Q2 Operating Profit, Missing Forecasts
Date: November 6, 2024
TOKYO (Reuters) -Japan’s Honda Motor reported a surprise 15% drop in second-quarter operating profit on Wednesday, missing analysts’ expectations as it suffered a heavy sales decline in China. Japan’s second-largest automaker said operating profit was 257.9 billion yen ($1.68 billion) in the July-September quarter, marking the company’s first year-on-year profit decline in seven quarters. The...
UK New Car Sales Fall 6% in October, Industry Data Shows
Date: November 5, 2024
(Reuters) – New car registrations in the UK fell for the second time this year, dropping 6% to 144,288 in October, industry data showed on Tuesday. The Society of Motor Manufacturers and Traders (SMMT) said declines were recorded across all buyer types except battery electric vehicles (BEVs). Nearly 300,000 new BEVs hit the road in...
Toyota to Post First Profit Drop in 2 Years as Demand Cools After Big Run
Date: November 5, 2024
By Daniel Leussink TOKYO (Reuters) – Toyota Motor is expected to post its first profit drop in two years when it reports second-quarter earnings on Wednesday, signalling cooling demand after a run of robust earnings helped by a consumer shift away from electric vehicles. The world’s largest automaker is nonetheless expected to deliver almost $8...
China Ev Price Deal Needs Be as Effective as Tariffs, Says EU Official
Date: November 4, 2024
BRUSSELS (Reuters) – Any agreement reached with Chinese producers on minimum prices for electric vehicles would need to be as effective and enforceable as the EU tariffs that were imposed last week, the likely future European Union trade chief said on Monday. The EU increased tariffs on Chinese-built EVs to as much as 45.3% last...
Volvo Cars October Sales Rise 3% Year-On-Year
Date: November 4, 2024
COPENHAGEN (Reuters) -Volvo Cars’ sales rose 3% year-on-year in October to 61,686 cars driven primarily by an increase in sales of electric and plug-in hybrid models in Europe, the Sweden-based automaker said on Monday. Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement sales in Europe, its biggest market, were up...
China’s Nio Plans to Sell Its First Hybrid Car Overseas Only, Sources Say
Date: November 4, 2024
SHANGHAI (Reuters) – Chinese electric vehicle maker Nio is planning to launch its first hybrid model in 2026 and will only sell it in overseas markets, including the Middle East, North Africa and Europe, according to two people with knowledge of the matter. Nio to date has only manufactured pure electric vehicles. It is building...