Losses for German automotive supplier ZF top €1bn
German automotive supplier ZF has endured a brutal 2024 and reported yearly losses of more than €1 billion.
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European car industry
Popular articles tagged "European car industry"
Volkswagen profits tumble 30 per cent
Volkswagen's net profit plummeted by more than 30 per cent in 2024 compared to the previous year.
Porsche plans to cut additional 1,900 jobs by 2029
Carmaker Porsche plans to cut an additional 1,900 jobs across the entire company over the next four years after a programme that has already started was determined…
BMW expects lower-than-expected profit margin due to weak sales
BMW expects its fourth-quarter pre-tax earnings to be significantly below last year and its full-year margin to be in the lower half of its 6-7 per cent target,…
Renault overtakes Stellantis in European car sales
Troubled Amsterdam-based multinational vehicle giant Stellantis has seen its market share drop by 7 per cent, losing its second-largest carmaker in Europe slot to…
EU car industry calls for CO2 fine relief to avoid ‘irreparable’ harm to competitiveness
The European automobile industry has called on the EU to roll back CO2 emission fines to avoid crippling the bloc's competitiveness.
EU car makers turn to Tesla and Polestar for carbon credits to avoid fines
In a bid to comply with the European Union’s increasingly stringent CO2 emission targets, several European car manufacturers have been purchasing carbon credits…
What will the EU do when cars become commodities?
Volkswagen has defused the labour crisis sparked by its announcement of impending plant closures with a deal that agrees to keep these factories open and reduce…
Bosch, ‘absolutely unbearable,’ to cut up to 10,000 jobs as German economy slows
German industrial giant Bosch will lay off thousands more employees than it had already announced, it said on December 11.
Audi to recall more than 700,000 cars in new blow for owner VW
Audi, a Volkswagen subsidiary, has said it will have to recall hundreds of thousands of cars due to technical issues.
Economic expert dismantles EU’s industrial policy of ‘picking winners and losers’
Jonas Grafström, an economic researcher and visiting fellow at the Oxford Institute for Energy Studies, has written a highly critical report on the European Union's…
High-born French and low-born Italians against Chinese Commies: car wars
European car companies are locked in an increasingly bitter struggle to maintain profits and market share amid a secular downturn in sales of internal combustion…
Stellantis CEO Carlos Tavares abruptly quits as sales falter
Stellantis Chief Executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost…
Automotive supplier Bosch plans to cut 5,550 jobs, most in Germany
In a new blow for the struggling German car industry, auto parts supplier Bosch has said it wanted to cut more jobs than previously indicated in May, when the company…
Czech Republic joining Italy to fight carmakers’ CO2 fines
The Czech Republic will join Italy in seeking to prevent carmakers from facing heavy penalties from next year, when tougher CO2 emission rules take effect in…
EU deindustrialisation: Audi to shut Brussels factory in February 2025
German vehicle manufacturer Audi has said it would shut its factory outside Brussels by the end of February next year, media outlets in Belgium have reported.
German car industry chief warns one-in-four jobs at risk in next decade
Volkswagen's recent shock announcement to cut tens of thousands of jobs, in concert with wage restrictions, was not an isolated event but part of a much bigger crisis,…
Volkswagen crisis: Tens of thousands of German jobs at risk with factory closures
German multinational car giant Volkswagen has announced dramatic austerity measures as the company struggles with declining sales and revenue.
Car wreck? European auto giant Stellantis cleans house at top amid crisis
Multinational vehicle maker Stellantis has replaced several top managers, including CEO Carlos Tavares, after posting dismal results amid the growing economic crisis…
Key EU green deal project entirely reliant on debt and China, Swedish expert warns
Rather than being an independent green innovator, Northvolt uses old Chinese technology, with 20-year-old equipment that was already out of date when put in place.
EU greenlights tariffs on Chinese EVs, escalating trade war
The China Chamber of Commerce to the EU expressed its discontent with the decision, labelling the anti-subsidy investigation into Chinese electric vehicles as a…
Brussels forcing production of EV cars nobody wants, sales crash 70 per cent in Germany
Some bad news for the European Union's Green New Deal: sales of electric vehicles have declined 18 per cent across the Union, led by a 33 per cent retreat in France…
EU auto industry calls for urgent relief as sales plummet
European car sales have continued to decline with the major markets in the European Union being hit hard, including a noticeable drop in electric vehicle sales.
European car industry ‘risks being crushed by EU fines’, Renault chief warns
Luca de Meo, head of the Renault group, has said he fears European car manufacturers will suffer under stricter emissions rules for new cars imposed by the European…
Volvo Cars abandons 2030 EV-only target
Swedish automaker Volvo Cars scrapped its target of going all-electric by 2030 on Wednesday, saying it now expected to still be offering some hybrid models in…
Volkswagen warns of German plant closures
Volkswagen said on Monday it can no longer rule out plant closures in Germany as it pursues ways to save several billion euros in a cost-cutting drive at its namesake…
Chinese EV maker aims to build cars in EU to soften tariffs
A Chinese electric vehicle (EV) manufacturer and partner of Germany's Volkswagen has said it was looking to produce cars in the European Union to bypass new import…
EU bureaucracy, taxes and energy costs forces major auto manufacturer abroad
Germany's second-largest automotive supplier, ZF Friedrichshafen, is planning to close plants in Europe and cut up to 12,000 jobs.
German car industry urges EU to drop tariffs on China-made cars
Germany's VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence…
EU electric car sales drop in May as German demand slumps, industry says
Sales of new battery-electric cars in the European Union dropped 12 per cent in May from a year earlier, led by a 30 per cent plunge in Germany, data from Europe's…