automotive industry

Jaguar unveils production Type 01 electric GT in New York

Jaguar showed the production version of the Type 01 at an event in New York on Tuesday evening. The four-door electric grand tourer is the first car since the brand's reboot, and the company says it is betting its future…

You're all caught up

You've seen all the main stories from the past 2 days.

Tesla’s third-quarter deliveries top Wall Street estimates

Tesla said Friday, Oct. 2, that it delivered 486,532 vehicles and built 464,391 in the third quarter. That beat Wall Street's forecast of about 461,100 deliveries, according to a StreetAccount consensus cited by CNBC. Deliveries fell about 2% from 497,099…

Gasoline-only cars fall below half of global sales

Cars that run only on gasoline made up less than half of new cars sold worldwide in the first half of 2026. It is the first time this has happened since cars became common in the 1920s, Japan's Nikkei business…

Skoda overtakes Porsche as VW Group’s top profit engine

Volkswagen disclosed a roughly €6 billion goodwill impairment on its 75 percent stake in Porsche last Friday, September 18, as part of a broader profit warning that sent shares tumbling and underscored how far the once-prized sports car brand has…

VW plans to phase out Seat brand amid deepening crisis

Volkswagen has cut its 2026 operating margin forecast to just 1% at best, down from a prior target of 4% to 5.5%, as roughly €10 billion in one-off charges — including a €6 billion writedown on its Porsche stake —…

China presses EU auto lobby chiefs to help resolve hybrid trade standoff

Chinese Commerce Minister Wang Wentao pressed the heads of Europe's two most influential automotive industry bodies on Monday to help broker a resolution to the escalating China-EU car trade dispute, days after Beijing rejected Brussels' request for voluntary curbs on…

VW China chief warns of 20% passenger car market decline

Volkswagen's top executive in China warned on Tuesday that the country's passenger car market is expected to shrink by about 20% in 2026, comparing the downturn to the devastation wrought by the COVID-19 pandemic.

Volkswagen shares slide as analysts downgrade after profit warning

Volkswagen confirmed late on Friday that it now expects an operating margin of no more than 1% for 2026, a dramatic reduction from its previous guidance of 4% to 5.5%, after flagging approximately €10 billion in exceptional charges dominated by…

Volkswagen dropped from Euro Stoxx 50 as profit crisis deepens

Volkswagen on Friday issued a sweeping profit warning, cutting its 2026 operating margin forecast to at most 1% from a previous range of 4% to 5.5%, after flagging roughly €10 billion ($11.5 billion) in one-off charges dominated by a €6…

Porsche faces 4,100 more job cuts under VW restructuring

Volkswagen's turnaround plan calls for roughly 4,100 additional job cuts at its sports car subsidiary Porsche Dr. Ing. h.c. F. Porsche AG, German business daily Handelsblatt reported on Saturday, piling further pressure on a brand already grappling with collapsing sales…

Volvo Cars taps Škoda chief Klaus Zellmer as next CEO

Volvo Cars announced Sunday that its board of directors has appointed Klaus Zellmer as President and Chief Executive Officer, with the veteran automotive executive set to assume the role no later than October 1, 2027.

Volkswagen slashes profit outlook on $11.5B in charges

Volkswagen on Friday cut its full-year operating margin forecast to just 1%, down from a previous range of 4% to 5.5%, after flagging €10 billion ($11.5 billion) in one-off charges that deepen an already difficult chapter for Europe's largest automaker.

Electric cars top 30% of new sales in Europe for first time

Battery-electric vehicle registrations across 16 key European markets jumped 54.2% year-on-year in August to 202,833 units, pushing fully electric cars to a 30.5% share of new vehicle sales and placing the continent well ahead of industry forecasts for 2026, according…

Toyota partners weigh tie-up as China JV model unravels

A potential tie-up between Toyota's two main Chinese partners is the latest sign that the foreign joint-venture model that shaped China's auto industry for decades is entering a new phase, as a shrinking market and fierce competition force automakers to…

BYD plans to build trucks in Europe to dodge tariffs

BYD, China's largest electric vehicle maker, announced plans on Monday to launch its first heavy-duty truck in Europe next year and eventually manufacture trucks on the continent, as the company seeks to position itself as a local player in the…

Chinese automakers cross 62% of global EV sales

Six Chinese automakers accounted for 62.3% of worldwide electrified vehicle sales in the first half of 2026, crossing the 60% threshold for the first time, according to a report released on September 14 by the Korea Automobile & Mobility Association…

Tesla sets Oct. 1 unveil for long-delayed Roadster

Tesla announced Saturday that it will unveil the long-delayed second-generation Roadster on October 1, posting a teaser image to X with the caption "Go for launch" and the date "10.01" displayed across the bottom. A countdown clock now appears on…

Europe’s EV boom offsets sharp North American decline in August

Global electric vehicle sales reached 1.83 million units in August 2026, a 2% year-on-year increase that marked the sixth consecutive month of rising demand, according to data from Benchmark Mineral Intelligence published on Friday. The modest growth masked sharp regional…

China targets 70% EV sales by 2030 in new plan

China has set a target for electric and plug-in hybrid vehicles to account for 70% of all new passenger car sales by 2030, the centerpiece of a sweeping five-year automotive development plan released Friday by nine government agencies. The plan…

China’s car exports in 8 months already top full 2025 total

China's passenger car exports in the first eight months of 2026 have already exceeded the entire 2025 total, the China Association of Automobile Manufacturers reported Thursday, underscoring how the world's largest car exporter continues to flood global markets even as…

Stellantis CEO says auto market split into US and rest of world

Stellantis CEO Antonio Filosa told analysts on Thursday that the global automotive market has fractured into two distinct spheres: the United States and everywhere else.

Volkswagen’s restructuring to cost €16 billion, source says

Volkswagen estimates the total cost of job cuts and potential plant closures under its sweeping restructuring plan at around €16 billion ($18.6 billion), according to a person familiar with the matter, as first reported by German magazine Der Spiegel and…

Tesla’s China retail sales fall for third straight month

Tesla sold 50,047 vehicles at retail in China in August, down 12.4% from a year earlier and marking a third consecutive month of year-on-year decline in the world's largest electric vehicle market, according to data released Tuesday by the China…

China’s car exports hit record in August as domestic sales fall for 11th straight month

China's passenger vehicle exports surged 77.5% year-on-year to 894,000 units in August, setting a new record, even as domestic sales fell 23.7% to 1.55 million units for the 11th consecutive monthly decline, according to data from the China Passenger Car…

BYD targets 2.5M overseas sales in 2027, raises 2026 goal

BYD has raised its 2026 overseas sales target to between 1.9 million and 2 million vehicles, up from 1.5 million, and set a goal of selling more than 2.5 million units abroad in 2027, according to a Deutsche Bank Research…

Xiaomi tops 800,000 EV deliveries, eyes Europe launch

Xiaomi announced at IFA Berlin 2026 that its automotive division will begin selling electric vehicles in Europe in 2027, with Germany as its first confirmed market. The company has signed memorandums of understanding with eight German dealership groups, marking a…

VW sells German car plant for Iron Dome defense production

Volkswagen announced Monday that it will sell its Osnabrück plant to Israeli investment firm Aurelius Capital and the German state of Lower Saxony, with plans to convert the 125-year-old factory into a defense production hub in partnership with Rafael Advanced…

Ducati CEO confirms VW is evaluating brand’s future amid sweeping restructuring

Volkswagen is openly weighing the future of Ducati as part of a far-reaching restructuring that could reshape one of the world's largest automakers, prompting alarm from the Italian government and fresh speculation about a sale of the iconic motorcycle brand.

Stellantis in talks with Huawei, JAC to revive Maserati

Stellantis is in advanced negotiations with China's Huawei and JAC Group to forge a long-term industrial partnership aimed at reviving its struggling Maserati luxury brand, two sources told Reuters on Friday. The discussions, first reported by Italian financial daily Milano…

VW board approves plan to cut 100,000 jobs, halve model lineup

Volkswagen's supervisory board on Thursday unanimously approved the most sweeping restructuring in the automaker's history, a plan that will eliminate approximately 100,000 jobs, halt auto production at four German factories, and kill roughly half its global model lineup by 2035.