Tag: Automotive

Lucid Group reported mixed fourth-quarter results Tuesday as the electric vehicle maker continues to face challenging market conditions and internal struggles.

Tariff costs are becoming unsustainable for automakers, the president of one of the largest public dealership groups said last week. Like many in the auto industry, Sonic Automotive is warning that sooner or later, prices will rise or automakers will start cutting features to stabilize costs.

Volkswagen has attracted bids from top private equity funds including Blackstone, EQT and CVC for its Everllence division, bolstering its plans to sell off the shipping engines unit.

Volkswagen (VOWG), opens new tab plans to cut costs by 20% across all brands by the end of 2028, Manager Magazin reported on Monday, as the German automaker looks to shore up its finances to counter the impact of higher costs, a tough Chinese market and U.S. tariffs.

German luxury car manufacturer Mercedes-Benz Group on Thursday reported a steep drop in full-year profit and warned of challenging times ahead, following a year marred by intense competition from Chinese rivals and global tariff costs.

Ford Motor (F) reported weaker-than-expected fourth-quarter earnings Tuesday evening. But the outlook for 2026 was solid despite many headwinds.

Ferrari (RACE) stock was rising on Tuesday and looked set to end a rough recent run after the Italian supercar maker reported better-than-expected earnings and issued guidance for the current year, easing investors’ fears about tighter margins.

Shares of automaker Stellantis plunged 27% in European trading on Friday, after the company said it expects to take a 22-billion-euro ($26 billion) hit from a business reset and hinted at a pull-back from its electrification push.

Japan’s top automaker Toyota reported a 43% drop in quarterly profit Friday and announced Chief Financial Officer Kenta Kon will become its new chief executive and president.

Volvo AB said truck demand is improving in some markets as customers return after months of weak freight conditions and policy uncertainty.

General Motors (GM) raised its profit outlook for ‌2026 as it reported higher fourth-quarter core profit on Tuesday on robust sales of its large pickup trucks and SUVs, sending shares of the Detroit automaker up 4% in premarket trading.

French automaker Renault Group (RENA) said on Tuesday that its sales volumes rose 3.2% in 2025, as strong demand for its passenger vehicles, particularly overseas, helped offset a plunge in European van sales.

General Motors said Thursday it will record $7.1 billion in special charges for the fourth quarter of last year related to its pullback in electric vehicles and restructuring efforts in China.

Mobileye Global (MBLY) on Tuesday said it would acquire humanoid robotics startup Mentee Robotics for about $900 million, as the Israeli self-driving technology firm bets on what it sees as the next frontier of artificial intelligence.

New car sales in Europe rose year-on-year in November for a fifth consecutive month, helped by an increase in EV registrations in markets including Germany, Italy and Spain, data from the European auto lobby ACEA showed on Tuesday.

Shares of CarMax fell Thursday after the company beat quarterly earnings and sales expectations but said it plans to reduce margins on used cars.

The European Union is set to propose softening emissions rules for new cars, scrapping an effective ban on combustion engines following months of pressure from the automotive industry.

Ford Motor expects to record about $19.5 billion in special items related to a restructuring of its business priorities and a pullback in its all electric vehicle investments, the company announced Monday.

Elliott Investment Management has lifted its stake in Toyota Industries (6201.T), to 5.01%, further increasing pressure on automotive giant Toyota Motor (7203.T), which plans to buy out the forklift manufacturer, a key group firm.

CATL  and Stellantis’, joint venture is yet to decide how many workers will come from China to construct its battery plant in Spain, the JV’s chief executive told reporters on Wednesday, after reports that the firm would bring up to 2,000.