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Economy

Trade issues on the table at scaled-back EU-China summit in Beijing

European leaders demanded a more balanced relationship with China at a summit with President Xi Jinping in the Chinese capital on Thursday, as the bloc runs a massive trade deficit with the Asian giant of around €300 billion.

Markets

Renault shares plummet 17% after profit warning and weak results

The carmaker disappointed with its preliminary financial figures for the past six months and has not yet found a permanent successor to former CEO Luca de Meo, instead appointing an interim leader.

Business

Nissan is closing flagship Oppama plant in Japan to cut costs

The factory in Oppama, Japan, employs approximately 2,400 people, who will lose their jobs in March 2028. Car production will move to another Nissan plant in southwestern Japan.

Business

Volkswagen and Chinese partner SAIC to close Nanjing production plant

After 17 years, car manufacturing giant Volkswagen and partner SAIC are closing down their joint production plant in the Chinese city of Nanjing.

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Business

Volvo Cars sales plunge 12% in May as tariff challenges continue

Rising tariff uncertainty and higher material prices, among other factors, has resulted in several European car companies to implement drastic cost-cutting measures.

Business

Volkswagen in direct talks with US government regarding tariff deal

German carmakers such as Mercedes-Benz and BMW are also reportedly trying to negotiate tariffs directly with the US Secretary of Commerce, Howard Lutnick.

Business

Volvo Cars announces that it will be slashing 3,000 jobs to cut costs

The majority of the job cuts will affect office-based positions in Sweden. Volvo Cars said the decision would help to build a stronger and more resilient company down the line.

Business

Faulty brakes: Ford recalls some 274,000 Navigator and Expedition SUVs

The US carmaker is recalling two models manufactured between 2022 and 2024, after they received dozens of warranty reports pointing to a potential risk of the brake system.

Business

Mercedes moving production of its GLC SUV from Germany to the US

Due to the US President’s tariff policy, carmakers across the globe are considering boosting their local US-based production.

Business

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.

Business

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.

Business

Audi records strong performance boosted by electric vehicle sales

Although Audi experienced higher electric vehicle demand in the first quarter, a weaker market outlook and volatile geopolitical environment continues to weigh on the company.

Business

Volkswagen Group sees plunge in performance as US tariffs pose risks

Volkswagen Group, along with the wider global car industry, is significantly vulnerable to changing US tariffs, mainly because of how globalised auto supply chains currently are.

Business

Mercedes-Benz stock dips after pulling profit guidance on tariff fears

The carmaker said that the impact of US trade policies remains difficult to quantify — although warned of a hit to its margins.

Business

Volvo Cars to slash costs worth billions following weaker performance

Volvo Cars cited a planned inventory reduction, as well as wider global auto industry turbulence as reasons for its lagging first quarter performance.

Economy

Trump considers pausing auto tariffs as world economy endures whiplash

President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains.

Business

Belgian insurer Ageas acquires UK’s Esure from Bain Capital for €1.5bn

The deal will create the third largest motor and home insurer in the UK.

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.

Economy

How is the European auto industry responding to Trump’s tariffs?

Euronews spoke with Benjamin Krieger from the car industry group CLEPA, who shed light on the potential impact of Trump’s auto parts tariffs on the global car industry.

Business

Porsche shares fall as company warns of lower sales

Porsche has also announced that it will be cutting almost 4,000 jobs as part of a wider reorganising effort, as the company attempts to become more efficient in the medium and long term.