According to foreign media reports, Maserati, a luxury car brand under the Strattis Group, announced on March 11 that it has cancelled its plan to launch an electric MC20 sports car due to poor expectations of poor demand. A Maserati spokesman said in an emailed statement that Maserati made the decision based on business prospects and expected limited sales of the model in the next few years. The spokesperson added that MC20 customers prefer high-performance gasoline engines, and “for the foreseeable future, they are not ready to turn […]
According to foreign media reports, Traton, a truck business unit of Volkswagen Group, said that the commercial vehicle market is expected to perform flat in 2025. Previously, the company’s 2024 performance was dragged down due to continued weakness in Europe (especially Germany). “We expect global economic growth momentum to weaken in 2025,” Traton said in a statement. Therefore, Traton will continue to focus on efficiency improvement measures this year. The truck maker expects the company to increase sales in 2025 between -5% and +5% and its operating margin is between 7.5% and 8.5%. Traton […]
According to foreign media reports, the EU recently announced an action plan for the automobile industry, hoping to increase the EU’s demand for electric vehicles and plans to set localized production ratio requirements for electric vehicle battery production. The EU implementing body has proposed a draft proposal to ensure EU automakers can electrify and compete with more technologically advanced Chinese and American competitors. The draft advises 27 EU member states on what actions they can take to accelerate the electrification of corporate vehicle fleets, which account for about […]
According to foreign media reports, S&P Global Ratings has recently downgraded the long-term issuer credit rating of Nissan and its overseas subsidiaries to the “BB” level, mainly based on the pessimistic expectations that the company’s profits will not recover in the short term. Meanwhile, S&P Global Ratings maintains Nissan’s short-term issuer credit rating at “B”. S&P Global Ratings maintains a “negative” rating on Nissan’s outlook, reflecting that Nissan’s credibility may deteriorate further in the context of adverse operating environment and continued losses in free cash flow. S&P Global Ratings believes that it seems that it is very […]
According to Bloomberg, electric truck maker Nikola, a bankruptcy maker, has obtained court approval to initiate auction proceedings at its U.S. manufacturing plant in Arizona. Creditors said the asset may have special value to automakers in the context of frequent tariff adjustments by the Trump administration. At the March 7 hearing, Benjamin Butterfield, attorney representing Nikola’s unsecured creditors, noted that Nikola’s 691,000-square-foot manufacturing plant in Coolidge, Arizona, is a fully ready facility that has a unique appeal for businesses interested in transferring production to the United States. The plant is part of a range of technologies […]
According to foreign media reports, Volkswagen will urgently recall some SUV models and warn the owners. Volkswagen said the recall involves 2024-2025 Atlas and Atlas Cross Sport models, with a total of 177,493 cars. These vehicles may have the potential for loose engine hoods, which will cause engine fire. The National Highway Traffic Safety Administration (NHTSA) said that the engine covers may not be properly installed after repair, causing them to loosen and may contact the engine’s high-temperature components, which poses a risk of fire. Volkswagen dealers will remove the problematic hood for free to eliminate […]