Porsche Profit Rebounds as Turnaround Plan Gains Momentum

By admin October 27, 2026 No comment

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Porsche reported a significant recovery in operating profit for the first nine months of 2026, reaching €1.74 billion compared with just €40 million in the same period last year. The results indicate early progress under CEO Michael Leiters, who took charge in January and introduced a restructuring strategy focused on reducing costs, streamlining operations and […]

Volvo Cars to Cut 2,500 Jobs After Quarterly Loss

By admin October 23, 2026 No comment

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Volvo Cars has announced plans to cut 2,500 jobs globally as it faces mounting financial pressure from weak demand, US tariffs and intense competition from Chinese automakers. According to Reuters, the Swedish carmaker reported an adjusted operating loss of 3.7 billion Swedish crowns ($373 million) in the third quarter of 2026, compared with a profit […]

Tesla September Registrations Rise Across Europe, Extending Recovery

By admin October 1, 2026 No comment

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Tesla’s new-car registrations increased across several European markets in September, adding to signs of a recovery for the U.S. electric vehicle maker after two years of declining sales in the region. Registrations rose 61.9% in France, 2.2% in Norway and 38.4% in Sweden compared with the same month last year, according to data from national […]

Volkswagen Approves Plan to Cut Another 50,000 Jobs

By admin September 4, 2026 No comment

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Volkswagen’s board has approved plans to eliminate another 50,000 jobs by 2030 as part of the German automaker’s biggest restructuring in its nearly 90-year history. The latest cuts will bring the total number of jobs the group plans to reduce to around 100,000. The company, which owns brands including Audi, Porsche and Skoda, is also […]

German Union Warns of Major Resistance to Volkswagen Restructuring

By admin August 31, 2026 No comment

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Germany’s largest union, IG Metall, has warned of strong opposition if Volkswagen attempts to revise a restructuring agreement reached less than two years ago. Union leader Thorsten Groeger said workers across Volkswagen’s sites would resist any move to reopen the deal, as the automaker considers major changes including plant closures, business carve-outs and up to […]

Volvo Expects Recovery Despite China Slump

By admin July 17, 2026 No comment

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Volvo Cars expects a stronger second half of 2026 despite reporting weak second-quarter results driven by a sharp slowdown in China and rising production costs. The Swedish automaker posted an operating profit of $82.8 million for the April–June period, but its shares fell around 8% after the results were announced. Sales in China, the world’s […]

BYD Nears Decision on Second European Manufacturing Plant

By admin July 1, 2026 No comment

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Chinese electric vehicle giant BYD is close to finalising plans for a second manufacturing facility in Europe as it accelerates its regional expansion. Speaking at the Reuters Automotive Europe conference in Frankfurt, BYD’s special adviser for Europe, Alfredo Altavilla, said a decision is expected soon, with Spain and France emerging as the leading candidates. The

Volkswagen’s Unique Ownership Structure Faces Fresh Scrutiny Amid Restructuring Plans

By admin June 27, 2026 No comment

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Volkswagen’s complex ownership and governance structure has come under renewed scrutiny as the German automaker prepares a major restructuring that could include plant closures and nearly 100,000 job cuts. Labour unions have vowed strong resistance, while the company’s unique legal framework gives workers and the German state of Lower Saxony significant

BMW Shares Plunge Following Severe Profit Warning Linked to China Slump and Iran War

By admin June 17, 2026 No comment

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Shares in premium automaker BMW tumbled 8% in early Frankfurt trade following a severe profit warning issued late Tuesday. The company attributed the drastic guidance downgrade to a deepening economic downturn in China and the global fallout from the war in Iran, which has driven up energy costs and severely dented international consumer confidence. Analysts […]

German Carmakers Face Mounting Pressure Amid Global Auto Industry Shift

By admin June 5, 2026 No comment

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German automakers are losing momentum as global rivals gain ground, according to a new EY analysis. While major automotive groups worldwide posted a 2% increase in first-quarter revenue, German manufacturers recorded a 4% decline, reflecting growing challenges in key international markets. Industry experts point to a combination of factors behind the downturn, including