Tag #Automotive Industry

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arabic.euronews.com

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Feb 26, 22:09

EU Car Registrations Fall in January 2025 Despite Electric Vehicle Surge

Passenger car registrations in the EU fell by 2.6% year-over-year in January 2025 to 831,201 units, driven by decreased demand in France and Italy; however, battery electric vehicle registrations surged by 34%, reaching 15% market share, while gasoline car registrations decreased by 18.9%.

EU Car Registrations Fall in January 2025 Despite Electric Vehicle Surge

Passenger car registrations in the EU fell by 2.6% year-over-year in January 2025 to 831,201 units, driven by decreased demand in France and Italy; however, battery electric vehicle registrations surged by 34%, reaching 15% market share, while gasoline car registrations decreased by 18.9%.

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What were the key factors influencing the overall decline in passenger car registrations across the European Union in January 2025?

The European Union saw a 2.6% year-over-year decline in passenger car registrations in January 2025, totaling 831,201 units. This decrease is attributed to lower demand in major countries like France and Italy, with Paris and Rome experiencing declines of 6.2% and 5.8%, respectively. However, Madrid registered a 5.3% increase.

faz.net

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Feb 25, 22:12

Porsche Restructures Leadership Amidst Crisis, Cuts 3900 Jobs

Porsche appointed Jochen Breckner as CFO and Matthias Becker as Sales Board Member, replacing Lutz Meschke and Detlev von Platen, respectively, due to declining sales in China and internal power struggles; the company is restructuring, cutting 15% of its workforce, and revising its production target...

Porsche Restructures Leadership Amidst Crisis, Cuts 3900 Jobs

Porsche appointed Jochen Breckner as CFO and Matthias Becker as Sales Board Member, replacing Lutz Meschke and Detlev von Platen, respectively, due to declining sales in China and internal power struggles; the company is restructuring, cutting 15% of its workforce, and revising its production target...

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What are the immediate consequences of the leadership changes at Porsche, and how do they impact the company's short-term outlook?

Porsche has appointed Jochen Breckner as its new CFO and Matthias Becker as its new Sales Board Member. Both are long-time Porsche executives and close confidants of CEO Oliver Blume. These appointments follow the dismissal of Lutz Meschke and Detlev von Platen, amid a company crisis marked by declining sales in China and internal power struggles.

usa.chinadaily.com.cn

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Feb 24, 07:07

SAIC Partners with Huawei to Launch New EV Brand Amidst Market Challenges

SAIC Motor, facing declining sales and loss of market leadership, is partnering with Huawei to launch the Shangjie EV brand in late 2025, featuring Huawei's smart driving technology and targeting a price range of 150,000-250,000 yuan ($20,600-34,400), marking a strategic shift for the automaker amid...

SAIC Partners with Huawei to Launch New EV Brand Amidst Market Challenges

SAIC Motor, facing declining sales and loss of market leadership, is partnering with Huawei to launch the Shangjie EV brand in late 2025, featuring Huawei's smart driving technology and targeting a price range of 150,000-250,000 yuan ($20,600-34,400), marking a strategic shift for the automaker amid...

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What are the immediate implications of SAIC's partnership with Huawei for its market position and competitiveness?

Faced with declining sales and loss of market leadership to BYD, SAIC Motor, a major Chinese automaker, is partnering with Huawei to launch a new electric vehicle (EV) brand, Shangjie, in late 2025. This brand will focus on affordability, integrating Huawei's smart driving technology, including HarmonyOS and Qiankun, aiming to compete with established players like BYD and Geely. The first model will be priced between 150,000-250,000 yuan ($20,600-34,400).

theguardian.com

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Feb 22, 16:13

BMW Halts £600m Mini Plant Investment Amid Declining EV Demand

BMW Group paused a £600 million investment in its Oxford Mini plant due to declining electric vehicle demand, impacting 4,000 projected jobs; the plant will continue producing combustion engine Minis while reviewing electric vehicle production plans, and will return a government grant.

BMW Halts £600m Mini Plant Investment Amid Declining EV Demand

BMW Group paused a £600 million investment in its Oxford Mini plant due to declining electric vehicle demand, impacting 4,000 projected jobs; the plant will continue producing combustion engine Minis while reviewing electric vehicle production plans, and will return a government grant.

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What factors contributed to BMW's decision to review its electric Mini production plans?

This decision reflects broader challenges in the automotive industry, including consumer hesitancy towards electric vehicles due to charging infrastructure concerns and rising costs. The UK government's commitment to a 2030 ban on new petrol and diesel cars, coupled with strict electric vehicle sales quotas and potential fines, creates a complex environment for manufacturers. BMW's decision also highlights the impact of global economic uncertainties on large-scale investments.

forbes.com

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Feb 21, 22:09

Auto Tariffs Could Add $4,000-$10,000 to Vehicle Costs

President Trump's proposed tariffs on Canadian and Mexican goods could increase car and truck prices by \$4,000-\$10,000, causing significant production cutbacks and job losses in the North American auto industry, potentially exceeding the impact of the 2023 UAW strike; the tariffs also threaten the...

Auto Tariffs Could Add $4,000-$10,000 to Vehicle Costs

President Trump's proposed tariffs on Canadian and Mexican goods could increase car and truck prices by \$4,000-\$10,000, causing significant production cutbacks and job losses in the North American auto industry, potentially exceeding the impact of the 2023 UAW strike; the tariffs also threaten the...

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What are the immediate economic consequences of the proposed tariffs on Canadian and Mexican automotive goods?

Tariffs on Canadian and Mexican goods, if fully implemented, could increase the price of cars and trucks by \$4,000 to \$10,000, significantly impacting consumers and the North American auto industry. This would lead to production cutbacks exceeding those seen during the 2023 UAW strike, resulting in job losses and decreased domestic auto production. Consumers would likely postpone vehicle purchases, increasing demand for used cars.

pda.kp.ru

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Feb 21, 19:09

Russian Taxi Localization Bill to Increase Fares, Reduce Consumer Choice

The Russian Duma's recent bill mandates taxi vehicle localization, expected to raise fares by 30-40%, reduce consumer choice, and negatively impact regional transportation, particularly in the Far East, where wait times for domestic cars are already significant.

Russian Taxi Localization Bill to Increase Fares, Reduce Consumer Choice

The Russian Duma's recent bill mandates taxi vehicle localization, expected to raise fares by 30-40%, reduce consumer choice, and negatively impact regional transportation, particularly in the Far East, where wait times for domestic cars are already significant.

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Reduced Inequality

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How might the bill's focus on localization impact the safety and quality of taxi services in Russia?

The bill's core issue is its impact on consumer choice and affordability. By prioritizing localization, it risks lowering safety standards and increasing costs for consumers. This is particularly harmful in regions with limited access to vehicles already.

faz.net

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Feb 25, 22:12

Porsche Appoints New CFO and Sales Chief Amidst Restructuring

Porsche announced Jochen Breckner as the new CFO and Matthias Becker as the new sales chief, replacing Lutz Meschke and Detlev von Platen, respectively, due to a sales slump in China and internal power struggles; the company also announced restructuring measures, including job cuts and revised produ...

Porsche Appoints New CFO and Sales Chief Amidst Restructuring

Porsche announced Jochen Breckner as the new CFO and Matthias Becker as the new sales chief, replacing Lutz Meschke and Detlev von Platen, respectively, due to a sales slump in China and internal power struggles; the company also announced restructuring measures, including job cuts and revised produ...

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How did the personal issues involving Detlev von Platen's wife contribute to the leadership crisis at Porsche?

The changes in Porsche's leadership are a direct response to declining sales, particularly in the crucial Chinese market. Von Platen's dismissal is attributed to his delayed response to this crisis, compounded by personal issues involving his wife's social media activity. Meschke's removal stems from his ambition to replace Blume and potential conflict of interest regarding the Porsche SE.

forbes.com

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Feb 24, 01:08

Elimination of $7,500 EV Tax Credit Could Cripple U.S. Electric Vehicle Sales

The $7,500 federal tax credit significantly impacts the affordability of electric vehicles (EVs) in the U.S., with an average transaction price of $55,544 in December 2024, compared to $49,740 for gas-powered vehicles. Recent proposals in Congress to eliminate this credit could substantially impact ...

Elimination of $7,500 EV Tax Credit Could Cripple U.S. Electric Vehicle Sales

The $7,500 federal tax credit significantly impacts the affordability of electric vehicles (EVs) in the U.S., with an average transaction price of $55,544 in December 2024, compared to $49,740 for gas-powered vehicles. Recent proposals in Congress to eliminate this credit could substantially impact ...

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Affordable and Clean Energy

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How would the removal of the EV tax credit affect both consumers and automakers?

The elimination of the $7,500 federal EV tax credit would significantly impact EV affordability and sales growth. Analysts predict a considerable slowdown in EV sales, as the credit accounts for roughly 15% of the average EV transaction price. This would disproportionately affect buyers for whom the credit is crucial for affordability.

themarker.com

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Feb 22, 13:09

Chinese EVs Outpace German Rivals in China

German automakers are losing market share in China to Chinese electric vehicle manufacturers like Xiaomi, whose SU7 model offers comparable performance and advanced AI features at half the price, resulting in a 28% sales drop for Porsche in 2024 and prompting job cuts.

Chinese EVs Outpace German Rivals in China

German automakers are losing market share in China to Chinese electric vehicle manufacturers like Xiaomi, whose SU7 model offers comparable performance and advanced AI features at half the price, resulting in a 28% sales drop for Porsche in 2024 and prompting job cuts.

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Industry, Innovation, and Infrastructure

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What is the primary reason for the decline in sales of German luxury car brands in China?

German automakers, long dominant in the Chinese high-performance car market, are losing ground to Chinese competitors. Chinese electric vehicles offer comparable performance with advanced features like AI-assisted parking and personalized greetings at half the price of German counterparts. This has led to significant sales declines for German brands in China, exemplified by Porsche's 28% drop in 2024.

bbc.com

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Feb 22, 22:08

BMW Delays Oxford Mini Electric Vehicle Production

BMW delayed its £600 million Oxford Mini plant upgrade and declined a £60 million government grant due to automotive industry uncertainties, pushing back the 2026 launch of two new electric Mini models, while remaining in discussion with the UK government.

BMW Delays Oxford Mini Electric Vehicle Production

BMW delayed its £600 million Oxford Mini plant upgrade and declined a £60 million government grant due to automotive industry uncertainties, pushing back the 2026 launch of two new electric Mini models, while remaining in discussion with the UK government.

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What are the immediate consequences of BMW's decision to delay electric vehicle production at its Oxford plant?

BMW has delayed electric vehicle production at its Oxford Mini plant due to uncertainties in the automotive industry, pausing a £600 million upgrade and declining a £60 million government grant. This decision impacts the planned 2026 launch of two new electric Mini models.

german.china.org.cn

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Feb 21, 13:08

Mercedes-Benz Reports Revenue Decline, Launches Product Offensive

Mercedes-Benz reported a 4.46% decrease in revenue to €145.6 billion in 2024, primarily due to weaker demand in its car division; the company is launching a product offensive, including dozens of new models by 2027, and significantly increasing investment in China.

Mercedes-Benz Reports Revenue Decline, Launches Product Offensive

Mercedes-Benz reported a 4.46% decrease in revenue to €145.6 billion in 2024, primarily due to weaker demand in its car division; the company is launching a product offensive, including dozens of new models by 2027, and significantly increasing investment in China.

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How significant is Mercedes-Benz's investment in China, and what are the strategic implications of this investment for the company's global growth?

The decrease in Mercedes-Benz's 2024 results reflects a broader trend of weakening demand in the luxury car market. To counteract this, the company is launching a product offensive with several new models and a comprehensive performance improvement program to enhance competitiveness. This strategy aims to boost sales and profitability in the coming years.

faz.net

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Feb 20, 10:08

Mercedes-Benz Implements Cost Cuts Amidst Declining 2024 Profits

Mercedes-Benz announced a 4.4 percent revenue drop to "107.761 billion euros and a 40 percent adjusted operating profit decline to "8.677 billion euros in 2024, prompting cost-cutting measures targeting 10 percent production cost reduction by 2027 and a product offensive to restore double-digit sale...

Mercedes-Benz Implements Cost Cuts Amidst Declining 2024 Profits

Mercedes-Benz announced a 4.4 percent revenue drop to "107.761 billion euros and a 40 percent adjusted operating profit decline to "8.677 billion euros in 2024, prompting cost-cutting measures targeting 10 percent production cost reduction by 2027 and a product offensive to restore double-digit sale...

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What immediate actions is Mercedes-Benz taking to address its declining profitability in 2024?

Mercedes-Benz reported a 4.4 percent drop in automotive revenue to "107.761 billion euros in 2024, with a 40 percent plunge in adjusted operating profit to "8.677 billion euros. To counter this, the company is implementing cost-cutting measures targeting a 10 percent reduction in production costs by 2027, alongside its "Next Level Performance" program aiming for "5 billion euros in savings.

Showing 277 to 288 of 564 results