The luxury automakers Mercedes-Benz and Porsche slashed their forecasts for earnings this year as the double whammy of President Trump’s tariffs and slowing demand in China hit the German companies hard. Mercedes said on Wednesday that revenue in 2025 would come in “significantly below” last year. The company also lowered its projection for profit margins.… Continue reading Mercedes and Porsche Squeezed by U.S. Tariffs and Slowdown in China
Author: New York Times Online News
Volkswagen Is Hit Hard by Trump’s Tariffs
The German automaker said U.S. import duties erased about $1.5 billion from its profit in the first half of the year, and it lowered its forecasts for the full year. Go to Source
The Country Where 76% of Cars Sold Are Electric
Subsidies, hydroelectricity and a manufacturing powerhouse neighbor are moving the cars into Nepal faster than almost anywhere else. Go to Source
How Trump’s Japan Deal Could Give Japanese Cars a Leg Up in the U.S.
President Trump’s 15 percent tariff on cars from Japan has angered U.S. automakers, which make cars in Canada and Mexico subject to 25 percent tariffs. Go to Source
Tesla Earnings Show Falling Profit as Car Sales Slow
Elon Musk has said robotaxis are the company’s future, but most revenue still comes from cars. Go to Source
Stellantis Says Profit Plunged as Tariffs Began to Bite
The company, which owns Jeep, Peugeot, Fiat and other brands, said it might soon have to begin raising prices. Go to Source
Chinese Car Giants Rush Into Brazil With Dreams of Dominating a Continent
As the likes of Ford and Mercedes retreat, Great Wall Motor and BYD are building factories and bringing affordable EVs and hybrids to one of the world’s biggest markets. Go to Source
The Secretive Mechanic Who Keeps the Rare McLaren F1 on the Road
The company made only 106 of these supercars, and service can take weeks. Go to Source
U.S. Proposes Steep Tariffs on Critical E.V. Battery Material
The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles. Go to Source
China Puts New Restrictions on E.V. Battery Manufacturing Technology
Beijing will now require government licenses for any effort to transfer abroad the technologies crucial for producing inexpensive electric cars. Go to Source