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Automotive
Japanese Auto Giants Nissan and Honda Enter Historic Merger Talks Creating 52 Billion Powerhouse
Nissan and Honda have initiated exploratory discussions regarding a potential merger that would establish a £52 billion Japanese automotive powerhouse, according to sources close to the negotiations. The proposed combination emerges as…
UK Government Set to Revise Electric Vehicle Mandate amid Industry Pressure and Sluggish Sales
The United Kingdom's government is preparing to modify its electric vehicle (EV) regulations as sales struggle to meet expectations. Business Secretary Jonathan Reynolds is launching a swift consultation next week to address growing…
General Motors Pulls the Brakes on Cruise Robotaxi Programme Amid Financial Strains
In a significant strategic shift, General Motors (GM) has announced the termination of its autonomous vehicle venture, Cruise, marking a notable retreat from the robotaxi sector. The decision comes after substantial financial investments…
General Motors Takes $5 Billion Dollar Hit as China Operations Face Local Competition Pressure
American automotive giant General Motors has announced a substantial $5 billion charge against its Chinese operations, highlighting the mounting challenges Western car manufacturers face in the world's second-largest economy. The…
Stellantis Chief Executive Carlos Tavares Steps Down Amid Profit Slump
The automotive industry was jolted yesterday as Carlos Tavares, chief executive of Stellantis, abruptly resigned following a significant decline in the carmaker's financial performance. The world's fourth-largest automotive manufacturer,…
Aston Martin Share Price Tumbles as Emergency Fundraising and Profit Warning Shake Investor…
Luxury car manufacturer Aston Martin Lagonda witnessed its shares plummet to a two-year low following an emergency fundraising announcement and its second profit warning within two months. The Midlands-based company revealed plans to raise…
Ford to Axe 800 UK Jobs in Latest European Restructuring Drive
Ford Motor Company has announced plans to cut 800 jobs across its UK operations, representing 15 per cent of its remaining 5,100-strong British workforce. The move comes merely 18 months after the American automotive giant reduced its UK…
Car Finance Scandal Could Lead To Billions In Consumer Claims As FCA Issues Warning
Britain's car finance industry faces unprecedented turmoil following a landmark Court of Appeal ruling that could trigger massive compensation payouts to consumers. The Financial Conduct Authority's chief executive, Nikhil Rathi, has…
UK Government Stands Firm on Electric Vehicle Sales Mandate Despite Industry Pressure
The British government appears poised to reject appeals from electric vehicle manufacturers seeking relief from hefty fines linked to missed sales targets through 2026. This stance comes amid warnings from the automotive sector about…
Car Finance Scandal Could Cost British Lenders £30 Billion Pounds in Compensation
British lenders might face a staggering £30 billion compensation bill due to the mounting car finance mis-selling scandal, according to leading credit ratings agency Moody's. The estimate represents the highest projection to date,…
Tesla Share Price Surges as Trump Administration Signals Federal Self Driving Car Framework|
Tesla's share value experienced a significant uptick of over 7 per cent during morning trading on Wall Street, following reports that Donald Trump's transition team is contemplating a relaxation of self-driving vehicle regulations.
The…
Britain Prepares to Ease Electric Vehicle Sales Rules as Industry Faces Crisis
The UK government is poised to modify regulations governing the electric vehicle (EV) market amid mounting pressure from manufacturers claiming current sales quotas are pushing the industry towards a breaking point. Transport Secretary…
Troubled Swedish Battery Manufacturer Northvolt Faces Potential Collapse as Bankruptcy Looms
Swedish battery manufacturer Northvolt stands at a critical juncture as the company contemplates filing for Chapter 11 protection or potentially entering bankruptcy proceedings. Sources close to the negotiations indicate the organisation's…
Continental Cuts Sales Forecast Again as European Tyre Demand Slumps
German automotive supplier Continental has reduced its sales guidance for the second time this year, citing weakening tyre demand across Europe and North America. The Hanover-based manufacturer now projects sales between €39.5 billion and…
BMW Sets Aside £70 Million Pounds for Car Finance Commission Claims
The British car loans division of BMW has been compelled to allocate more than £70 million to address potential customer compensation related to the mounting motor finance commission scandal. This provision from the German automotive giant…
Rolls-Royce Maintains Optimistic Outlook Despite Ongoing Supply Chain Woes
Rolls-Royce, the iconic British aerospace and defense company, has reaffirmed its profit guidance for 2024 despite persistent supply chain challenges plaguing the industry. This show of confidence comes as the company continues to benefit…
Nissan Slashes 9,000 Jobs in Drastic Turnaround Effort
Nissan Motor Co. has announced a dramatic restructuring plan that includes cutting 9,000 jobs globally and slashing production capacity by 20% as the Japanese automaker struggles with declining sales and profitability. The drastic measures…
German Car Industry Shares Plummet as Trump Victory Sparks Tariff Fears
German automotive manufacturers witnessed a significant market downturn today as Donald Trump's presidential victory fuelled concerns over potential steep tariffs on European vehicles. Share prices for major German automakers experienced…