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Honda Motor Co. cut its annual profit guidance by 21% on Friday, citing a critical semiconductor shortage and plummeting Asian demand while confirming the Japanese automaker now expects electric vehicles to comprise just 20% of global sales by 2030, reports Bloomberg. The announcement marks the latest setback in Honda’s year of cascading retreats from electrification…
BMW has rolled out significant updates to its best-selling i4 electric sedan for 2026, bringing improved range and a more powerful flagship variant just as the German automaker prepares to transition to its revolutionary Neue Klasse platform. The updates, announced by BMW and detailed across automotive publications, represent the i4’s final evolution before next-generation models…
Tesla’s October 2025 sales collapsed across Europe, with registrations plummeting by double-digit margins in nearly every major market—just as shareholders vote today on CEO Elon Musk’s nearly $1 trillion compensation package. The timing couldn’t be worse for the embattled EV maker, as the catastrophic sales figures underscore growing questions about whether Musk deserves the largest…
Lucid Motors slashed its 2025 production forecast to 18,000 vehicles on Wednesday, marking the second consecutive cut in three months as the Saudi-backed luxury EV maker struggles with supply chain disruptions and collapsing post-tax-credit demand. Interim CEO Marc Winterhoff told Reuters the company would hit the lower end of its August guidance range of 18,000-20,000…
UK Chancellor Rachel Reeves is reportedly considering a 3p-per-mile tax on electric vehicle drivers in next week’s Autumn Budget, according to The Times. The proposed pay-per-mile charge would help offset a massive decline in fuel duty revenue as British drivers increasingly switch from petrol and diesel vehicles to EVs. The move comes as the UK…
U.S. motor vehicle sales plummeted in October 2025 as the elimination of federal EV tax credits sent electric vehicle demand into freefall and broader economic uncertainty kept car shoppers away from dealerships. The data reveals the immediate aftermath of one of the most significant policy shifts in American automotive history. Light vehicle sales decreased 6.5%…
Automakers shipping vehicles to the United States could face $200 to $300 per vehicle in additional costs, the CEO of major car carrier Wallenius Wilhelmsen warned Wednesday, as the company moves to pass new U.S. port fees onto customers. The announcement comes despite a late-October trade agreement between Presidents Trump and Xi that was supposed…
Tesla shareholders face an unprecedented decision Thursday as they vote on CEO Elon Musk’s nearly $1 trillion compensation package—with Board Chair Robyn Denholm warning that rejecting it could trigger Musk’s departure and send the company’s stock into freefall. The vote, taking place at Tesla’s annual meeting on November 6, has divided major institutional investors and…
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