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Renault reports nearly €10 billion non-cash loss due to Nissan stake
The French carmaker said it would change the way it accounts for its stake in its long-term Japanese partner, based on Nissan’s share price.
Japan shipments to US decline as trade tariffs slow export growth
The world's fourth-largest economy is one of the hardest hit by the US administration's elevated trade tariffs on cars, resulting in Japanese exports slowing in April.
Nissan to shed 20,000 jobs as Japanese automaker reports loss
Nissan is slashing about 15% of its global workforce, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended.
BMW Group profits plunge but outlook maintained despite tariff impact
The German carmaker reported earnings below the previous year’s level but confirmed its financial targets for this year, and said it expects some of the US trade tariff increases to be temporary.
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Ford expects a €1.39bn hit from Donald Trump’s tariffs in 2025
The US-based company is one of the least affected carmakers hit by US trade tariffs, yet it pulled back its entire forecast for the year, citing uncertainty and potential supply chain disruptions.
Why Trump’s tariffs are a serious threat to the German car industry
US tariffs are affecting up to €67bn of EU automotive industry exports, the majority of which are coming from Germany. BMW, Volkswagen and Mercedes must choose between pausing shipments or absorbing tariff costs.
Porsche reports significant plunge in European and Chinese deliveries
Although North American deliveries soared 37% in the first three months of the year, they were not enough to offset Porsche’s steep falls in other key markets.
Volkswagen shares rise on outlook despite 2024 profit declining
Volkswagen AG concluded 2024 with lower operating results but slightly increased sales revenue. The carmaker presented its plans to navigate the challenges coming from the US and China, but they haven’t factored in tariffs for 2025.
The EU’s plan to save the ailing European car industry
In a new action plan to boost Europe's car industry, the European Commission pledged to support EV battery manufacturing, one of five flagship initiatives. Brussels also gave more flexibility for meeting this year’s CO₂ targets.
Belgian Audi factory closes, leaving thousands of workers jobless
Audi operations will be moved to China and Mexico due to high costs. Future uses for the site in the Brussels neighbourhood of Forest are being considered.
Portuguese manufacturers warn of automotive industry crisis impact
The Portuguese automotive manufacturing industry's exports are predicted to fall in November and December, as demand for new cars slows across Europe.
Bosch: Up to 10,000 German jobs at risk as car market stutters
The world's largest supplier of car parts has been hit by weak demand, strong Chinese competition and slow transition to EVs.
Plant closures and job cuts: Volkswagen resumes talks with unions
Management and unions at Volkswagen have yet to find common ground in talks concerning the German car maker's proposal on possible job cuts and plant closures. Workers took strike action on Monday.
Luxury carmaker Aston Martin issues a profit warning - again
Aston Martin is raising millions to invest in electrification, as well as in other areas, while its core profit is expected to fall short of 2023 levels.
Stellantis announces plans to close Vauxhall van-making plant at Luton
The French-Italian car giant says it is planning more investment to enhance its other UK factory at Ellesmere Port as the UK's sustainable, EV-only volume manufacturing plant.
Mercedes reveals plans to cut costs by several billion euros per year
Mercedes has revealed plans for substantial cost cuts of several billion euros in the coming years. However, specific details on how these costs will be reduced and which locations will be affected has not yet been detailed.