The Stellantis Windsor Assembly Plant is shown on April 1, 2025 in Windsor, Canada. Bill Pugliano | Getty Images DETROIT — Stellantis is pausing production at two assembly plants in Canada and Mexico as the company attempts to navigate President Donald Trump‘s new round of 25% automotive tariffs, the company confirmed Thursday. The actions are… Continue reading Stellantis idles plants in Mexico and Canada due to tariffs
Category: US Motoring Press
Trump’s 25% auto tariffs are in effect. What investors need to know
Vehicles seen on the lot of a Ford auto dealership in Montebello, California on April 1, 2025. Frederic J. Brown | Afp | Getty Images DETROIT — President Donald Trump‘s 25% tariffs on imported vehicles to the U.S. have taken effect, but the impacts of the new levies on investors and the global automotive industry… Continue reading Trump’s 25% auto tariffs are in effect. What investors need to know
Auto giants surprisingly resilient as sweeping U.S. tariffs spare Canada and Mexico for now
The Stellantis Windsor Assembly Plant in Windsor, Ontario, Canada, on Tuesday, Feb. 4, 2025. Bloomberg | Bloomberg | Getty Images Shares of some of the world’s biggest automakers appeared surprisingly resilient on Thursday, even after U.S. President Donald Trump’s 25% tariffs on foreign auto imports came into effect. Germany’s Volkswagen, Mercedes-Benz Group and BMW were… Continue reading Auto giants surprisingly resilient as sweeping U.S. tariffs spare Canada and Mexico for now
Xiaomi delivers record cars in March as winners emerge in China’s EV race
A Xiaomi store in Shanghai, China, on March 16, 2025. Qilai Shen/Bloomberg | Bloomberg | Getty Images Chinese electric carmakers Xiaomi, Xpeng and Leapmotor each delivered nearly 30,000 or more cars in March, roughly twice several of their fellow startup competitors. It’s a sign of how some automakers are pulling ahead, while BYD remains the… Continue reading Xiaomi delivers record cars in March as winners emerge in China’s EV race
AKWEL Reports 32.3% Decline in Net Income in 2024 Amid Market Challenges
AKWEL, a leading global manufacturer of automotive and heavy-vehicle components, has announced its financial results for the year 2024, reporting a net income of €24.2 million, marking a 32.3% decline compared to 2023. The company’s total revenue fell by 7.3% to €989 million, down from €1.066 billion in the previous year. Earnings before interest, taxes,… Continue reading AKWEL Reports 32.3% Decline in Net Income in 2024 Amid Market Challenges
Why McLaren’s merger with Forseven is a watershed moment
Ten minutes and 26 seconds into our conversation, the bombshell drops: “What I can say now is that we will merge Forseven and McLaren. It will all exist under a McLaren umbrella.” We had speculated as such in our reporting of Forseven previously, but to hear the words come out of the mouth of Forseven… Continue reading Why McLaren’s merger with Forseven is a watershed moment
Exclusive: McLaren plots reinvention in full merger with Forseven
Bicester, Oxfordshire. Forseven has three units there already and a new design centre opening soon. Forseven also has offices in Leamington Spa, unsurprisingly given the volume of talent it has attracted from neighbour JLR. All McLaren facilities at Woking, along with its composites factory in Yorkshire, will be retained for now, and the companies will… Continue reading Exclusive: McLaren plots reinvention in full merger with Forseven
Vauxhall Luton site sold for conversion into industrial park
Vauxhall‘s Luton factory has been sold to property firm Goodman, which will redevelop the site as an industrial park. The company said it would spend £400 million on the Bedfordshire site’s transformation and that it could create some 1700 jobs. The redevelopment work is due to be complete in three years. The news comes days after… Continue reading Vauxhall Luton site sold for conversion into industrial park
“Customers Swear by Their Quality—We’ll Bring Scale, Capital, and Integration” — Arvind Goel on Recent IAC Acquisitions
In a strategic move aimed at strengthening its global footprint in the rapidly evolving automotive interiors sector, Tata AutoComp Systems Ltd. has acquired the assets of IAC Sweden and IAC Asterix UK. The acquisitions mark a significant push into the premium segment of vehicle interiors, expanding the company’s customer base and opening new avenues for… Continue reading “Customers Swear by Their Quality—We’ll Bring Scale, Capital, and Integration” — Arvind Goel on Recent IAC Acquisitions
Trump Tariffs: Auto Industry Reactions
The 25% import tariff imposed by the Donald Trump administration on automobiles a week ago went into effect on Wednesday. The tariffs were announced on March 26. Trump had also announced a 25% import duty on foreign-made auto components, used in vehicles assembled domestically. The 25% tariff on auto components will go into effect on… Continue reading Trump Tariffs: Auto Industry Reactions