According to Bloomberg, the Canadian government announced a comprehensive counter-tariff plan for U.S. products after U.S. President Trump confirmed that the United States will begin imposing new tariffs on Canada and Mexico on March 4. The executive order signed by Trump on February 1 requires the U.S. to impose a 25% tariff on most products imported from Canada and Mexico, and a 10% tariff on Canadian energy products such as crude oil, natural gas and uranium. “Canada will not sit idly by the unjust decision,” Canadian Prime Minister Justin Trudeau […]
According to Bloomberg Intelligence, these tariffs imposed by Trump on Mexican and Canadian vehicles could reduce European automakers’ earnings by 5.88 billion euros (about $6.2 billion) this year. On March 4, Bloomberg Industry Research senior industry analyst Michael Dean wrote in a note that the Stellantis group, which owns brands such as Jeep, Ram, Chrysler and Dodge, may import about 417,000 cars to the United States this year from Mexico and Canada. Dean estimates that Stellantis’s €3.44 billion in revenue and Volkswagen’s €1.77 billion in revenue will be at risk if the company does not take […]
According to Bloomberg, the latest data released by the French Automobile Association Plateforme Automobile (PFA) shows that due to the decrease in Stellantis’s car sales, the number of new car registrations in France in February fell by 0.7% year-on-year. According to PFA data, last month, the number of new car registrations in the French market was 141,568, down from 142,595 in the same period last year; in the first two months of this year, the number of new car registrations in the country was 256,241, a year-on-year decrease of 3.3%. From the perspective of enterprises, in […]
Registration data released by the Malaysian Automobile Association (MAA) shows that in January this year, Malaysia’s new car sales fell 27% year-on-year and 40% month-on-month, down from 66,923 units in the same period last year to 48,732 units. The sharp decline was mainly attributed to the reduction in working days caused by the Malaysian Lunar New Year holiday. At the same time, car purchase activities also fell significantly after the sales record due to year-end promotions in December last year. In the past three years, the Malaysian automobile market has rebounded strongly from the trough […]
After Porsche’s chief financial officer Lutz Meschke and chief sales officer Detlev von Platen unexpectedly announced their resignation, the board of supervisors acted quickly to reach an agreement on the two successors. From now on, Porsche welcomes two new executives: Jochen Breckner, 47, will take over the finance department, while Matthias Becker, 54, will take over the sales field. The change marks the return of the Porsche board to its full lineup again. Wolfgang Porsche, Chairman of the Supervisory Board, commented: “We are deeply pleased to discover two outstanding successors, Jochen Breckner and Matthias Becker, […]
According to Bloomberg, the U.S. tariffs on Canadian and Mexican products could cause U.S. auto prices to rise up to $12,000 and wreaking havoc on the North American supply chain. After the U.S. taxes on Canadian and Mexican products, the cost of producing a crossover utility vehicle will increase by at least $4,000, and the cost of electric vehicles can increase up to $12,000, and those costs are likely to be passed on to consumers, according to a new study by Anderson Economic Group, a Michigan auto consulting firm. “This […]