What Caused Volkswagen's Profits To Drop In The Second Quarter
The company posted operating profit of €3.5 billion for the quarter and lowered its full-year revenue outlook from expected growth to a possible 3% decline
Automotive
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Why Did Tesla And Alphabet Shares Fall After Earnings
Both companies defended the increased spending, arguing the investments will support future growth
Senate Panel Advances Bill Targeting Chinese-Linked Vehicles
The legislation, introduced by Republican Senator Bernie Moreno and Democratic Senator Elissa Slotkin, would formally establish restrictions first proposed under the Biden administration.
Ford Recalls Nearly 388,000 SUVs Over Seat Defect
According to the National Highway Traffic Safety Administration, the recall affects certain 2020-2027 Aviator and 2020-2026 Explorer models
Kia Recalls Nearly 463,000 Telluride SUVs Over Fire Risk
The report said the issue can occur if the seat adjustment knob becomes stuck or if an earlier repair performed under a previous service campaign was not completed correctly.
Why Is Volkswagen Slashing Its Model Lineup
It will gradually reduce its model range by up to 50% over the coming years, focusing on its strongest market segments
Toyota to Build $3.6 Billion Texas Plant, Shift Some Truck Production From Mexico
The Japanese automaker said the new 2.5 million-square-foot building will be located on its San Antonio manufacturing campus and will open by 2030, creating 2,000 jobs.
Why Did Tesla Stock Fall Despite Strong Delivery Numbers
Tesla is attempting to recover from two consecutive years of declining vehicle sales amid stronger competition from Chinese and European automakers
Tesla Reports Strongest Quarterly Delivery Growth In A Year
Tesla produced 451,758 vehicles during the quarter. The Model 3 sedan and Model Y SUV accounted for about 97% of all deliveries
JetBlue Plane Reports Drone Strike Near JFK Airport
The incident occurred Monday morning when the pilot of JetBlue Flight 948, arriving from Las Vegas, reported that an object believed to be a drone struck the aircraft at an altitude of about 3,000 feet during its final approach.
Why Is Volkswagen Planning 100,000 Job Cuts
Volkswagen is also expected to trim planned investment by about 15%, lowering spending to just over €130 billion over the next five years.
Why Are Chinese Carmakers Expanding Into Canada
Companies including BYD, Chery, Lotus and Changan have begun establishing dealerships, import networks and distribution channels despite modest sales expectations in Canada.
Why Is Polestar Ending New Vehicle Sales In The U.S.
The Bureau of Industry and Security determined that Polestar has a sufficient connection to China through its parent company, Geely, making it ineligible for approval under the new regulations.
EV Maker Lucid Announces 1,500 Job Cuts
The restructuring includes the elimination of the chief operating officer position and operational changes at Lucid's manufacturing facility in Casa Grande, Arizona.
How Are China’s Slowdown And The Iran War Hurting BMW
BMW cited higher energy costs linked to the Iran conflict, saying elevated prices are increasing operating expenses and hurting consumer confidence across global markets