Italian luxury carmaker Lamborghini has announced a delay in launching its first all-electric model until 2029, citing the luxury automotive sector’s unreadiness for full electrification. The VW-owned manufacturer, celebrating its
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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
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
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
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
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, home
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
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
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,
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
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
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
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
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
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 from a strong rebound in international air travel, driving demand for its aircraft engines and related services.
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 come as Nissan reported a quarterly loss and downgraded its profit forecast for the year by 70%, highlighting the severe challenges facing the company.
