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Business

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.

Business

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.

Business

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.

Europe News

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.

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Europe News

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.

Business

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.

Business

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.

Business

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.

Business

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.

Business

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.

Business

General Motors lays off 1,000 workers to compete in crowded market

General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

Economy

How could Europe's biggest economy lose out under Trump's plans?

The German economy, already in decline, could be about to lose 1% of GDP due to the trade tariffs, promised by US President-Elect Donald Trump.

Europe News

Thousands of job cuts on the way across struggling sectors in Europe

The latest redundancy plans come from German car parts maker Schaeffler and French grocery chain Auchan.

Business

Thousands of jobs to go at German car parts maker Schaeffler

The company is downsizing at 10 locations in Germany and five other sites in Europe, further illustrating the challenges facing the European car industry.

Economy

European tariffs on Chinese electric vehicles: All you need to know

EVs are the latest flash point in a broader trade dispute over Chinese government subsidies. The new levy concerns European car makers too.

Economy

Switching to EVs could cost German car industry 186,000 jobs by 2035

EV car production requires fewer employees overall than in the past, according to new report findings.

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.

Europe News

French car parts workers on strike demand an EU future for their trade

Valeo employees in Suze-sur-Sarthe are striking to save their jobs, as the automotive industry's future in Europe remains in doubt due to competition and downsizing.

Europe News

European EV crisis: Audi's Brussels factory faces uncertain future

Audi's plant in Belgium's capital assembles a €80,000 electric SUV, which is too expensive for Europeans. After 2025, production will likely relocate to Mexico, and workers and unions are not happy.

Europe News

Why are carmakers pleading for a respite from EU climate policy

The head of the European Automobile Manufacturers’ Association explains why the industry faces multi-billion euro fines next year when stricter CO2 emissions limits kick in