Tariffs
The German automaker Volkswagen has swung to a €1.3bn loss in the third quarter of 2025, its first quarterly loss since the start of the Covid-19 pandemic in 2020. The company blamed the losses on America's new trade levies and an abortive shift to electric vehicles at
Tariffs
Korean President Lee Jae Myung and U.S. President Donald Trump have completed bilateral negotiations, securing a major agreement that reduces the U.S. tariff on vehicles from Korean manufacturers from 25 percent to 15 percent. The agreement also commits to a $150 billion investment in a shipbuilding cooperation project
Automotive industry
General Motors is making significant cuts in the wake of the expiration of a $7,500 federal tax credit for electric vehicles, which is expected to lead to a drop in sales. The company will lay off 2,420 workers indefinitely and temporarily as it reduces electric vehicle production. Despite
Tariffs
The Michigan Democratic Party has condemned Republican Senate candidate Mike Rogers' support for tariffs, citing the negative impact on the state's households and economy. General Motors has laid off over 200 salaried workers, mostly at its Tech Center in Warren, Michigan, due to "business conditions"
Automotive industry
The UK government's decision to provide a £1.5-billion loan guarantee to Jaguar Land Rover (JLR) after a major cyberattack has raised concerns about the risk involved. According to a September 25 letter from UK Export Finance Chief Executive Tim Reid to Business Secretary Peter Kyle, the overall
Automotive industry
The used-car retail industry in Texas and California has entered a downward spiral as Tricolor, one of the largest used-car retailers in the region, abruptly declared bankruptcy. Federal investigators are probing whether the company committed fraud by promising the same collateral to multiple lenders. This incident has cast a spotlight
Automotive industry
As India commits to reducing emissions intensity by 33-35% from 2005 levels by 2030, the country is witnessing a surge in electric vehicle (EV) adoption. The total global EV market is projected to reach $4,360 billion by 2033, with India's market expected to reach $164.4 billion
Automotive industry
As India commits to reducing emissions intensity by 33-35% from 2005 levels by 2030, the country is witnessing a surge in electric vehicle (EV) adoption. The total global EV market is projected to reach $4,360 billion by 2033, with India's market expected to reach $164.4 billion
Air pollution
The Environmental Protection Agency's proposal to repeal the "endangerment finding," a crucial conclusion that greenhouse gases endanger public health and must be regulated by the federal government, has sparked concerns from various industries. In a move that could clear the way for states and municipalities to
Automobile loans
A contentious dispute is unfolding between motor finance lenders and the Financial Conduct Authority over the regulator's proposed £11 billion compensation scheme for car owners who were misled when purchasing their vehicles up to 18 years ago. The lenders are seeking an extension of the consultation period on
Automotive industry
Economists and markets predict the Bank of Canada will lower the policy interest rate by 25 basis points next Wednesday, despite inflation ticking up last month, as the unemployment rate remains too high and companies continue to hold back spending amid tariffs and economic uncertainty. The Canadian automotive industry and
Automotive industry
Governments and taxpayers around the world, including Ontario's, have made massive bets on the electric-vehicle (EV) revolution, but it appears the industry is losing steam. Porsche and Ferrari, two luxury carmakers, are the latest to reverse their EV strategies, citing high costs and declining demand. As the market
