Tag

Car Industry

All articles tagged with #car industry

business1 month ago•7 min saved

VW mulls up to 100,000 global job cuts to curb costs

Volkswagen Group is considering cutting as many as 100,000 jobs worldwide, doubling an earlier plan to shed about 50,000 in Germany, as profits have fallen due to weaker sales in key markets and growing competition from Chinese brands. The review spans all brands and regions, with several German plants reportedly under consideration, following protests and ongoing union talks; the company previously reported a multi-year profit decline from €22.6bn in 2023 to €8.9bn last year.

via BBC|

#business #car-industry #china

world2 months ago•79 min saved

Brexit's price tag: UK economy stalls as curry houses and car makers feel the pinch

Brexit has weakened the UK economy, reducing GDP by about 6–8%, investment by 12–13%, and productivity by 3–4%, with labor shortages hitting curry houses that relied on Eastern European workers and a costlier, slower auto sector, as the government seeks closer EU ties to revive growth amid rising public frustration with Brexit.

via AP News|

#brexit #car-industry #eu-trade

business2 months ago•4 min saved

UK to soften 2030 EV target amid industry pressure

Britain plans to loosen its 2030 EV sales target from 80% to about 50-70% after a government consultation, amid industry pushback and concerns about costs and jobs; a weaker target could threaten climate goals, while the ZEV mandate, penalties, and credits will shape investment in charging infrastructure.

via BBC|

#business #car-industry #charging-infrastructure

business7 months ago•2 min saved

IRS Announces New Tax Benefits for Made-in-USA Car Buyers

The IRS announced that new cars assembled in the US purchased from 2025 to 2028 may qualify for a tax deduction on car loan interest, contingent on final assembly location, aiming to boost domestic auto manufacturing under Trump’s policy. About 14 of the top 25 models sold in 2024 are US-assembled, with potential for millions of qualifying vehicles, though some models assembled in multiple countries may not qualify.

via Yahoo Finance|

#business #car-industry #irs-guidance

business8 months ago•2 min saved

U.S. Auto Market Set for 2025 Sales Surge Despite Q4 Slump

In 2025, General Motors led U.S. vehicle sales with over 2.8 million units sold, despite a slowdown in the year's final quarter, driven by industry adjustments to tariffs and consumer incentives, with Toyota and Ford following in market share and sales volume.

via Yahoo Finance|

#auto-sales-2025 #business #car-industry

business8 months ago•3 min saved

EU softens plans on 2035 petrol car ban amid auto industry concerns

The European Commission has relaxed its plans to phase out new petrol and diesel cars by 2035, allowing 10% of sales to be non-zero emission vehicles, amid lobbying from carmakers and concerns over market demand, while opponents warn this could hinder the transition to electric vehicles and competitiveness.

via BBC|

#business #car-industry #climate-policy

business8 months ago•2 min saved

UK and South Korea Trade Deal Boosts Cars, Salmon, and Scotch Exports

The UK and South Korea have signed a new trade agreement to boost exports of cars, salmon, Guinness, and other goods, reducing tariffs and easing rules for car parts, while also expanding opportunities for UK service providers and digital trade. The deal aims to increase economic growth and strengthen the UK’s position in global trade.

via The Guardian|

#business #car-industry #exports

politics8 months ago•1 min saved

EU Considers Reversing 2035 Combustion Engine Ban Amid Industry Pressure

Opponents are pushing to weaken the EU's 2035 ban on combustion engines, with industry players like Stellantis seeking more flexibility, amidst political battles involving far-right parties and debates over environmental regulations.

via politico.eu|

#2035 #car-industry #combustion-engine-ban

politics8 months ago•4 min saved

Trump's Auto Policies and Their Impact on Consumers and the Environment

The Trump administration proposes rolling back Biden-era fuel economy standards, encouraging Detroit automakers to produce more gas-guzzling vehicles like station wagons and kei cars, while critics argue this will harm the environment and consumer costs. The move aims to boost automaker profits and vehicle affordability, but risks slowing EV adoption and environmental progress.

via Michigan Advance|

#car-industry #detroit-automakers #electric-vehicles

business9 months ago•1 min saved

Nexperia Crisis Sparks Global Auto Chip Supply Concerns

The dispute between China and the Netherlands over Chinese-owned chipmaker Nexperia is unlikely to be quickly resolved, causing ongoing uncertainty in semiconductor supplies for the global car industry amid broader trade tensions and export bans.

via South China Morning Post|

#business #car-industry #china-netherlands-dispute

world10 months ago•1 min saved

Global Chip Disputes Threaten Automotive Supply Chains

A dispute over Chinese-owned chipmaker Nexperia in the Netherlands, involving government seizure and US sanctions, threatens to disrupt the global car industry's supply chain, despite local calmness masking the underlying tensions.

via South China Morning Post|

#car-industry #dutch-china-dispute #nexperia

business11 months ago•5 min saved

EV Prices Drop Below Gas Cars in the U.S., but Incentives Fade

Electric vehicles in the US have recently become cheaper than gas cars due to falling prices and government incentives, but this trend may be temporary as incentives expire and automakers adjust production, potentially causing prices to rise again. The shift is driven by recent price cuts, tax credits, and increased supply, but long-term EV adoption depends on continued cost reductions and policy support.

via InsideEVs|

#business #car-industry #electric-vehicles

automotive1 year ago•2 min saved

Dodge Confirms V-8 Charger Return Amidst New 2026 Model Reveal

Dodge CEO Matt McAlear hinted that a V-8 powered Charger could return, suggesting the platform can accommodate a Hemi V-8, signaling a possible revival of combustion engines amid regulatory and market shifts, with an official announcement expected soon.

via Motor1.com|

#automotive #car-industry #dodge

business1 year ago•7 min saved

U.S. Faces Challenges and Opportunities in the Electric Vehicle Race

Despite the U.S. government's removal of federal incentives and a political shift away from supporting electric vehicles, automakers are still investing in EV technology due to global growth and long-term profitability prospects, with some signs of gradual recovery in U.S. sales and infrastructure development.

via The New York Times|

#business #car-industry #electric-vehicles

business1 year ago•2 min saved

U.S.-Japan Trade Deal Sparks Mixed Reactions from Automakers

U.S. automakers are disappointed with a new trade deal between the US and Japan, as it maintains high tariffs and doesn't address their main challenges, such as producing small cars preferred in Japan or navigating different standards, leading to concerns about competitiveness and policy inconsistency.

via Axios|

#business #car-industry #japan-trade-deal