automotive-industry
BusinessVolkswagen Says Supply Jams Here to Stay as Earnings Stagnate
Top StoriesEU Approves Effective Ban on New Fossil Fuel Cars From 2035
Top StoriesBritain’s Car Output Drops 6% as Supply Woes Persist
BusinessToyota Considers Sharp Boost in Output of First Ev, but Not Before 2025, Sources Say
Mercedes-Benz Lifts Profit Forecast as Luxury Cars Boom
Date: October 26, 2022
By Victoria Waldersee BERLIN (Reuters) -Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15% this year, compared with a previous forecast...
Tesla Investors to Focus on Demand Issues in Earnings Report
Date: October 19, 2022
(Reuters) -Tesla Inc’s quarterly report on Wednesday will likely show whether the Elon Musk-led electric-vehicle maker is facing any weakness in demand that is starting to weigh on the wider auto industry. Decades-high inflation, rising energy bills in Europe and signs of a weakening China market have raised doubts among some analysts about whether Tesla...
Italy’s Brembo Sets up Venture Capital Arm to Invest in Tech Startups
Date: October 19, 2022
MILAN (Reuters) – Premium brakes maker Brembo said on Wednesday it had set up an internal venture capital unit, called Brembo Ventures, to accelerate the development of technologic solutions to be applied to the automotive industry. The move of the Italian group mirrors similar initiatives by other companies including Stellantis and CNH Industrial with the...
German Car Industry Baulks at Supplier Demands Over Energy Hikes
Date: October 14, 2022
By Victoria Waldersee WOLFSBURG, Germany (Reuters) – Germany’s giant carmakers may have secured their own energy supplies but thousands of small suppliers faced with a squeeze from soaring bills risk upsetting production through the winter. More and more suppliers are calling on the industry to renegotiate contracts to include energy clauses so they can cover...
Energy Crisis Could Cut Europe’s Car Output Nearly 40% – S&P Global Mobility
Date: October 11, 2022
By Nick Carey LONDON (Reuters) – Auto forecaster S&P Global Mobility warned on Tuesday that, under a worst case scenario, Europe’s energy crisis could cut its car production by close to 40%, or more than 1 million vehicles, per quarter through the end of 2023. In a report titled ‘Winter is Coming,’ S&P Global Mobility...
Stellantis Aims to Boost Recycled Material Content in Vehicles
Date: October 11, 2022
MILAN (Reuters) -Stellantis will look to upgrade its medium-term target for the minimum percentage of recycled material in its vehicles from 35%, the carmaker’s Senior Vice President Global Circular Economy Alison Jones said on Tuesday. In its business plan, Stellantis has set a goal to boost revenues of its recycling business ten-fold to over 2...