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Economy

Here's how China, not Europe, is driving growth in global EV sales

China contributed to two-thirds of global EV sales in November, according to a new report.

Business

Chinese car maker BYD on track to beat Honda and Ford sales

BYD, one of the biggest Chinese electric vehicle (EV) producers, has seen higher sales figures through more car trade-ins in China, edging it closer to its 2024 sales target.

Economy

Chinese car makers turn to hybrids to avoid EV tariffs from the EU

Following higher EU tariffs on Chinese electric vehicles, car makers such as BYD, SAIC and Geely have increased their hybrid exports to Europe, in an attempt to boost their European market share in this way.

Business

Stellantis CEO Tavares quits: Why his EV bet sparked his departure

Carlos Tavares has resigned as Stellantis CEO after nearly four years, amid plunging electric vehicle sales and rising competition from Chinese car makers. His departure highlights the mounting challenges for legacy carmakers in the EV transition.

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Economy

October new car registrations inch up as Spain and Germany see rebound

EU new car registrations rose in October, boosted by robust performance in Germany and Spain.

Business

Aston Martin's losses narrow as car maker's new models boost sales

Aston Martin saw a fall in pre-tax losses for the third quarter of 2024, as sale volumes rose following a range of new model launches, including the release of the DBX707 and the new Vantage.

Business

Volkswagen set to close three German plants and cut thousands of jobs

Further talks are planned between Volkswagen and trade union leaders on Wednesday.

Business

Renault tops expectations as new model demand boosts sales

The French car manufacturer, Renault, experienced a better-than-expected revenue performance in the third quarter of the year, as demand for new models soared, leading to increased sales.

Economy

EU new car registrations for September stay on downward trend

EU new car registrations in September were mainly dampened by poor figures from France, Italy and Germany. Once again, Spain bucked the trend.

Business

Porsche sales plunge as Chinese competition heats up

German automaker Porsche has experienced dropping sales as competition in China continues to rise, with demand for some of its key electric models falling as well.

Europe News

MEPs debate crisis facing Europe's automotive industry

Europe's car industry has been battling against the transition to low carbon technologies, the degradation of supply chains, increased competition from Asia, and decreased demand for electric models.

Business

Italian car giant Stellantis sees sales in US crash by one fifth

Stellantis extended its quarterly delivery decline in the US, with car sales falling 20% year-on-year. The company is committed to reducing inventory levels, which it views as the primary challenge.

Business

What is behind the huge drop in Mercedes' share prices?

The German carmaker’s shares started Friday with an almost 7% drop as the company significantly cut its expected results for the full year because of weakness in Chinese demand for its vehicles.

Business

BMW recalls 1.3 million vehicles that may have Takata airbag inflators

BMW was recalling more than 1.3 million vehicles in China that might have Takata airbag inflators following a similar recall in the United States last month, officials said on Friday.

Business Series

Mercedes misses revenue targets: Why the car industry is faltering

Mercedes-Benz's revenue fell short of expectations in the second quarter of 2024. The German luxury carmaker anticipates continued weak demand and has adjusted its margins guidance downward.

Business

Stellantis profit plunges as automakers face industry challenges

French-Italian-American automotive giant Stellantis released its first half 2024 earnings on Thursday, reporting a net profit of €5.6bn, which was 48% less than the first half of 2023. Net revenue for the first half of the year was €85bn, which was 14% less than the corresponding period last year.

Business

French car maker Renault posts 1.9% rise in first-half sales volume

The surge in sales was largely due to the strong performance of the company's hybrid models in Europe.

Business

Aston Martin reveals new sports car inspired by racing star

Luxury British carmaker Aston Martin reveals its limited edition 'Valiant' model, saying it expects deliveries to start towards the end of the year.

Markets

Electric dreams: Which cars are EU consumers buying?

Car registrations in the European Union grew by almost 14% year-on-year this April, with petrol vehicles losing market share.

Business

Nissan is investing big in European electric car production

Big money and artificial intelligence are going into a wholly electric range of cars to be produced in the UK.