Earnings/Financials

Toyota cuts 2026 global EV output plans by a third, Nikkei reports

Toyota was already betting hard on hybrids

Hyundai plans to double hybrid lineup and increase sales 30% by 2030

The Korean automaker also announced a $3 billion share buyback

Ford cancels electric three-row SUV, pivots to hybrid

The next-generation full-size electric pickup gets delayed, too

Carlos Tavares to visit U.S. to create plan to reverse lagging profit at Stellantis

'He wanted to make clear he was handling it personally'

Volkswagen delays launch of Trinity EV further, source says

It may not arrive until the early 2030s

Leasing model behind Europe's EV drive at risk of breakdown

This bubble appears primed to burst

China's domestic auto sales fall in July, its exports jump about 20%

Russia is the biggest importer of Chinese automobiles

Nikola posts smaller-than-expected loss on robust hydrogen truck demand

It landed Walmart Canada as a customer

India's Mahindra seeks nod for $3 billion Shaanxi JV, sources say

Mahindra would hold the majority stake

Honda reports nearly 9% rise in profit on healthy demand for cars and motorcycles

A favorable currency exchange rate helped Honda

Rivian sticks to full-year production target and profit goal

The company expects to produce 57,000 EVs in 2024

Lucid gets $1.5 billion from Saudi shareholder before SUV rollout

Company's sticking to its target of building 9,000 Air sedans this year.

Volvo Cars' July sales rise 6% driven by European EVs

No EV slowdown for Volvo: Sales of full electrics and PHEVs are up 49% year over year

Rounding up automakers' financial results

It's good to be Ferrari, no wonder the horse is prancing

Stellantis says it has no intention of selling Maserati

Two days ago, the CFO would not rule it out; Lancia or DS may be more likely now

Stellantis offers buyouts to U.S. white-collar workers

'Streamlining operations and finding efficiencies'

Stellantis CEO Tavares calls out problems in the U.S. market, including at Ram

Ram making too many broken trucks; not enough ads for incentives

Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays

Buyers have lost their tolerance for rising car prices

Nissan lowers profit forecast amid incentive, inventory woes

Nissan blames sales incentives and marketing expenses resulting from intense competition

Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

With profits falling, Stellantis 'cannot afford to have brands that do not make money'