Electric vehicles
Diageo, the world's largest spirits maker, has unveiled a plan to cut $500 million in costs and dispose of significant assets to turn around its performance and reduce its debts. The company aims to slash costs through changes to its trade investment and advertising spend, overheads, and supply
Electric vehicles
India's electric vehicle (EV) sales jumped to nearly 100,000 units in 2024, representing a 2% share of total car sales, but the country lags behind peer economies despite modest gains, according to the International Energy Agency's (IEA) Global EV Outlook 2025. The report highlights India&
Tariffs
The North American automotive supply chain is facing unprecedented uncertainty due to U.S. President Donald Trump's tariffs on imported cars, including those from Canada and Mexico. Since the announcement, three of Ontario's eight auto assembly plants have introduced significant changes, including thousands of layoffs, production
Tariffs
The automotive industry is experiencing a perfect storm of challenges, with tariffs, shifting market conditions, and changing consumer preferences all taking their toll. As automakers scramble to adapt, some are making bold decisions to adjust their offerings and pricing strategies. Ford Motor Co. has canceled its flagship software project, FNV4,
Automobile industry
The US auto industry, a cornerstone of America's industrial power for over a century, is facing a critical challenge. President Trump's tariffs aim to protect it from foreign competition, but his domestic policies threaten to cut it off from innovation. This combination risks leaving US automakers
Automobile industry
The Trump administration has reached a deal to ease some of the tariff burden introduced earlier this year for the US automotive industry. The agreement allows car companies to pay tariffs on cars and components without being charged additional levies on steel and aluminum. This move is expected to reduce
Automobile industry
Tesla Inc reported a surprise profit of $US2.2 billion ($3.3 billion) for the July-September quarter, surpassing expectations and sending its stock price up 12% in after-hours trading. The company's earnings were driven by a 20% increase in vehicle sales, which is expected to grow by 20-30%
Automobile industry
Tesla Inc. (NASDAQ:TSLA) stock rallied after hours on Wednesday as the electric vehicle maker's third-quarter earnings and profit margin topped expectations, despite revenue falling short. The company's earnings per share (EPS) rose 9% year-over-year to $0.72, surpassing estimates of $0.58. Revenue of $25.
Automobile industry
Tesla's second-quarter profit has dropped by 45% due to slowing electric car sales, raising concerns that the company's big bets on driverless taxis and artificial intelligence may not pay off in the near future. Despite the companies' efforts to cut costs and invest in new
Automobile industry
Tesla's quarterly profit for the second quarter decreased by 45% to $1.48 billion, with revenue edging up 2% to $25.5 billion. The electric-vehicle maker's sales have continued to struggle with increasing competition and a global slowdown in EV sales. Despite earlier optimism from CEO
Automobile industry
Tesla, Inc (NASDAQ:TSLA) has made a significant comeback in the eyes of Wedbush, the tech-focused investment bank, after the company's second-quarter delivery data revealed a higher-than-expected 443,956 vehicles shipped globally. This marks a 4.7% decline from the same period last year but a 5,654-unit
Automobile industry
Tesla shares closed 4.81% higher at $196.37 on June 26, following the initiation of coverage by American investment bank Stifel, which recommended a 'buy' rating with a price target of $265 per share. The Stifel report suggests that investors should be "bullish" on purchasing
