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Business

Hammered by US tariffs, Volkswagen’s profit drops sharply

Germany’s Volkswagen cut its financial guidance for 2025 after US tariffs took a €1.3 billion toll on its income in the first six months. But European sales and EVs appear to support future growth.

Business

Tesla sales and profits continue to drop, with no relief in sight

The fallout from Elon Musk's plunge into politics a year ago is still hammering his Tesla business as both sales and profits continued to drop sharply in the latest quarter.

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

Tesla sales fell sharply in the last three months — is Musk to blame?

Tesla sales fell 13% in the period between April and June, as its CEO Elon Musk faces backlash and competition is taking a toll on the company's dominance.

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Business

New car registrations fall in Europe and Tesla sees another drop

Tesla sales are still declining in the EU, while Chinese state-owned manufacturer SAIC Motor is increasing its market share.

Markets

BYD stock plunges after price cuts as EV sales surpass Tesla in Europe

Shares of BYD plunged following steep discounts across several models, stoking fears of a renewed price war in China’s EV market. However, the Chinese automaker is still expected to maintain robust growth, particularly against global rival Tesla.

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.

Economy

US retail sales surge as consumers rush to beat tariff deadlines

The rise in sales was largely driven by car purchases as consumers sought to get ahead of tariffs.

Business

Stellantis shareholders approve €23.1mn payout for former CEO Tavares

The European carmaker is still looking for a new head after Carlos Tavares resigned in December, following a year of slumping sales. Investors rewarded the former CEO with a controversial pay package on Tuesday.

Business

BMW’s China sales drop to lowest level in five years at start of 2025

The German carmaker announced a global sales decline of 1.4%, dragged down by weak China demand, while Trump’s auto tariffs loom over the year ahead.

Business

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.

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

European car sales dip in February, EVs pick up but Tesla sales tumble

A sharp decline in overall sales in major markets including Germany and Italy dragged down the numbers of newly registered cars in the EU. However, EVs are distinctly increasing their market share in the bloc, with Chinese-made cars on the rise.

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.

Business

Tesla UK sales rise despite unease over Musk’s political involvement

Tesla’s global sales have been increasingly affected by rising competition from Chinese rivals such as BYD and Geely.

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.

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.