Stellantis reported a staggering 2.3 billion euro net loss in the first half of the year, driven by a significant slump in North American sales and the impact of new US tariffs. The company is restructuring to combat these challenges.
In a landmark ruling, a German court has convicted four former Volkswagen executives for their roles in the Dieselgate emissions scandal, with two receiving prison sentences. This significant trial has concluded a saga that began in 2015, revealing widespread deceit in the automotive industry.
A new trade deal allows British carmakers to export 100,000 vehicles to the US at a lower tariff rate than their North American counterparts. This raises concerns among American automakers who fear it could set a precedent for future trade agreements.
In a strategic pause, Jaguar Land Rover halts U.S. shipments for a month, grappling with the fallout of President Trump's new tariffs on foreign cars. This decision reflects the uncertainty in the automotive sector as global markets react to the escalating trade tensions.
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Chinese EV maker BYD has overtaken Tesla in annual revenue, reporting a 29% increase to 777 billion yuan. With new lower-priced models and advanced technology, BYD is poised for growth amid Tesla's controversies and market challenges.
In a surprising move, President Trump has granted a one-month tariff exemption to automakers in Mexico and Canada, allowing them to avoid economic disadvantage as negotiations continue. This decision comes just before reciprocal tariffs are set to take effect.
