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Business

Luxury carmaker Aston Martin to cut 170 jobs after another annual loss

Job losses are expected to save Aston Martin £25 million as it struggles with supply chain disruptions, inefficiencies, and weak Chinese demand.

Economy

EU battery electric vehicle sales jump in January driven by Germany

Hybrid-electric vehicle registrations also increased in the EU in January, mainly because of robust French performance. However, plug-in hybrid electric vehicle registrations lagged behind.

Business

Porsche to cut almost 2,000 jobs in Germany as EV demand declines

The carmaker blamed the job losses on lacklustre demand for electric vehicles and “challenging geopolitical and economic conditions”.

Economy

Global electric vehicle sales for January reveal US-driven spurt

Strong performance in the US as well as Europe contributed to robust worldwide electric vehicle sales in January but China saw softer growth.

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Business

Blow for Europe as Chinese EV makers fan competition with new deals

A number of Chinese electric vehicle companies have announced a range of promotions over the Lunar New Year holidays, such as better financing deals, in an effort to boost flagging sales.

Business

Volvo Group struggles with slower sales as European truck demand falls

Volvo Group reported its latest financial results on Wednesday and highlighted slower sales in Europe due to a declining demand for trucks.

Business

Volkswagen warns against Trump tariffs as new presidential term begins

The German carmaker is already contending with a sales slowdown, high costs, and competition from cheaper Chinese competitors.

Economy

EU new car registrations inch up in 2024 as Spain boosts figures

While new car registrations remained strong in Spain, other major European markets, including France and Germany, saw marked declines.

Economy

European car makers could see rocky 2025 amid changing regulations

Several challenges, such as changing emissions laws, as well as cost pressures could continue to erode car manufacturers' profit margins this year, according to the Society of Motor Manufacturers and Traders.

Business

Renault Group sales zoom ahead after 2024 European performance boost

A number of new model launches, including hybrid and all-electric vehicles, helped Renault Group deliver a rise in sales in Europe last year.

Business

Global electric vehicle sales surge as China demand boosts growth

While China and North America maintained their robust electric vehicle sales growth, European EV sales floundered, as Germany faces mounting political and economic changes.

Economy

UK drives forward as biggest European electric vehicle market

Although the UK experienced record electric vehicle sales in 2024, this also came at a considerable cost, in the form of steep manufacturer discounts.

Business

Chinese EV giant BYD beats domestic players to hit record 2024 sales

Electric vehicle company BYD has announced record sales for the last year, boosted by rising Chinese demand, as well as government trade-in deals.

Business

BMW says luxury cars were sold to Russian buyers despite sanction

BMW Group has confirmed that it has sold more than 100 high-end cars to Russian buyers, despite EU sanctions being in place to halt the export of vehicles to Russia.

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.

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.