All articles tagged with #automotive industry
British luxury automaker Aston Martin will cut about 20% of its global workforce to save roughly 40 million pounds ($54 million) annually, blaming tariffs and geopolitical uncertainty for weaker profitability, with no timeline for the layoffs and following last year’s organizational review.
Lamborghini has scrapped the Lanzador, its planned all-electric hypercar, citing fading demand for EVs in the luxury segment and signaling a shift to plug‑in hybrids while continuing internal combustion engine production, a move that mirrors a broader retreat from aggressive electrification by Western automakers.
Lamborghini has canceled its planned Lanzador all-electric four‑seater, saying it didn’t deliver the emotional connection buyers want and citing market conditions; the company may pivot to a plug‑in hybrid instead, with a full EV likely only when the timing is right, replacing the Lanzador before the decade’s end.
Stellantis, the parent of Jeep and Dodge, booked a $26.5 billion hit on its EV bets and a $16.7 billion charge for warranties and recalls, highlighting deeper issues beyond a single misstep. The company remains heavily reliant on trucks and SUVs, suffers from a bloated brand lineup and leadership turnover, and faces regulatory and market headwinds as EV demand cools. Europe’s diesel revival and uneven EV execution complicate a turnaround, even as Stellantis pursues new EVs and battery tech to regain momentum amid stiff competition.
Chinese automakers expect to start selling in the United States within five to ten years, potentially by building US plants rather than shipping from China, a move that could boost EV competition and lower prices but faces 100% tariffs and buyer skepticism; Volvo's South Carolina plant could serve as a beachhead for Geely-backed brands like Zeekr and Lynk & Co., while BYD is already leading global EV sales, underscoring why the US market is attractive despite regulatory and national-security hurdles.
U.S. automakers warn that 2026 will bring slower sales and higher costs as affordability pressures mount from pricier vehicles, inflation, and ongoing supply-chain issues; executives plan for the worst while pivoting to lower-priced models, certified pre-owned strategies, and possible re-entry into sedans, all amid tariff dynamics, potential USMCA negotiations, and heightened regulatory scrutiny.
Tesla will require a $99-per-month subscription to enable Autopilot’s lane-keeping and steering, with Full Self-Driving also moving to a subscription model after an $8,000 one-time option ends on Feb. 14. The move aligns with a broader push for recurring revenue amid regulatory scrutiny and ongoing lawsuits over driver-assist claims, while regulators consider actions that could impact Tesla’s California sales.
Germany has launched a €3bn electric-vehicle subsidy scheme aimed at Chinese automakers, signaling a major policy move in the global EV sector.
Canada will reduce duties on Chinese electric vehicles from 100% to 6.1% and cap imports at 49,000 annually, easing Chinese competition in North America. In exchange, China will lower tariffs on Canadian canola. The move comes as U.S. EV tariffs remain at 100% and could push Chinese brands to expand into the U.S. market via Canada (and possibly Mexico), with Geely signaling a North American expansion and analysts noting Chinese automakers' broader push to grow globally despite protectionist hurdles.
Acura unveiled the all-new fourth-generation RDX, which will use a two-motor hybrid-electric powertrain—the brand’s first hybrid RDX—and plans to introduce it at dealers within the next couple of years, with production of the current 2026 model suspended this year to focus on the hybrid project; the RDX has been a mainstay with roughly 850,000 North American sales, and Acura is pursuing a mix of gas, hybrid and EV models, including the all-electric RSX due in 2026.
US Cybertruck sales in 2025 totaled 20,237, roughly half of 2024 and far below Elon Musk's 250,000‑a‑year target, as quality issues, multiple recalls, and limited international availability dampen demand and help drive a broader Tesla sales slump.
Chinese automotive brands have increased their new car sales in the UK, surpassing 2 million units, indicating a significant growth in their market presence.
Electric vehicle sales are expected to experience the slowest growth since the pandemic, indicating a potential slowdown in the automotive industry's shift towards electric vehicles.
Tesla lost its position as the world's top EV seller to China's BYD in 2025 due to a 9% sales decline, while BYD's sales surged, especially in China and Europe. Tesla's focus has shifted towards AI and robotics, with concerns about future EV demand in the US following the end of federal incentives. Despite the sales drop, Tesla's energy storage business remains strong, and the company is developing new vehicles like the Cybertruck and Cybercab, with CEO Elon Musk optimistic about 2026.
In 2025, China's BYD surpassed Tesla as the world's largest electric car manufacturer, selling 2.26 million battery electric cars compared to Tesla's 1.63 million, marking a significant shift in the global automotive industry driven by China's growing EV market and challenges faced by Tesla in the US market.