Tag: Automotive

Mercedes-Benz car sales fell 3% to 1.98 million vehicles in 2024 amid a challenging global market, with top-end vehicle sales weighed by market conditions in China, model changes and weak electric-vehicle demand.

Scout Motors has received more than 50,000 refundable reservation deposits for its first electric pickups and SUVs, according to Volkswagen CEO Oliver Blume.

The Volkswagen brand’s global deliveries fell 1.4% to 4.8 million vehicles in 2024, with battery-electric sales down around 2.5%, Europe’s top carmaker said on Thursday.

Honda Motor on Tuesday at the CES tech conference revealed the company’s newest electric vehicles that are set to be produced at a multibillion-dollar manufacturing complex in central Ohio.

China’s Xpeng Motors and Volkswagen have agreed to expand their partnership to cooperate on ultra-fast electric vehicle charging networks in China, the automakers said on Monday.

Vehicle production by car maker Stellantis in Italy fell by 37% last year, hit in particular by a steep plunge in car manufacturing, union figures showed on Friday.

China’s best-selling car manufacturer BYD sold a record number of electric vehicles and hybrids globally last year, even as fierce competition took hold in its home market.

Tesla fell for a fourth consecutive day on Tuesday, taking some of the shine off a tremendous late-year rally.

Tesla will fix software in 77,650 China-made Model 3 and Model Y cars over safety hazards, China’s market regulator said on Tuesday.

Shares of Japanese automaker Honda were on track for their best day in 16 years after it announced to buy back up to 1.1 trillion yen ($7 billion) of its shares on Monday amid merger talks with Nissan

Japanese automakers Nissan and Honda on Monday announced they had entered into official talks to merge and create the world’s third-largest automaker by sales.

Volkswagen shares were down 3% in early trade on Monday with analysts citing uncertainty about the automaker’s cost-cutting deal with unions and likely headwinds in 2025.

Tesla said on Friday it was recalling 694,304 vehicles in the United States over an issue with the tire pressure monitoring system (TPMS).

The billionaire Porsche-Piëch family, Volkswagen’s majority owner, has taken a hardline stance in backing the company’s plans to close several German factories, as the threat of diminished dividends looms.

Volkswagen green up pointing triangle said it will invest $48 million in Canadian lithium company Patriot Battery Metals, as it seeks to secure the supply of lithium raw materials from North America.

Shares of CarMax Inc. were rallying toward their first gain in six sessions in early Thursday trading, after the used vehicle seller reported fiscal third-quarter earnings that rose well above expectations, as lower prices helped boost sales.

Japanese automakers Nissan Motor and Honda Motor reportedly plan to enter into negotiations for a merger to better compete in the rapidly changing global automotive industry, the Nikkei newspaper reported Tuesday.

The U.S. Energy Department on Monday said it has finalized a $9.63 billion loan to a joint venture of Ford Motor (F.N), opens new tab and South Korean battery maker SK On to help finance construction of three new battery manufacturing plants in Tennessee and Kentucky.

General Motors is restructuring Cruise, its self-driving-taxi company, in what amounts to an exit from the robotaxi business and a refocusing on improving driver- assistance technologies for everyday people.

Automaker Stellantis and Chinese battery giant CATL on Tuesday announced plans to jointly build a 4.1 billion euro ($4.3 billion), large-scale lithium iron phosphate (LFP) battery plant in Spain.