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Toyota and BMW are the latest casualties in China's evolving EV market
Toyota and BMW reported sinking profits on Wednesday, with sales in China slumping as both face growing competition from local automakers like BYD.
China woes weigh on profits at Toyota, Honda and BMW
Slowing demand in China led to steep falls in quarterly profit for Toyota, Honda and BMW, dragging even the strongest carmakers into a broader downturn hitting the sector. Until now, Japan’s Toyota and Honda had outperformed their European and US rivals due to strong hybrid and petrol sales in North America.
BMW's Profits Plunge As China Sales Slump
BMW said Wednesday it faced "extraordinary challenges" as its quarterly profits plunged due to slumping Chinese sales and a vehicle recall, the latest sign of the crisis gripping Europe's auto sector.
Hosted on MSN
4h
Tesla Ditches Plans for $25,000 EV
Tesla has dropped plans to produce a $25,000 EV. As Reuters reports, CEO Elon Musk was asked during an earnings call Q&A ...
16h
Suzuki teams up with Toyota on its first EV: the E Vitara
Suzuki and Toyota have been working together on a new 4WD-capable electric SUV, and in Italy yesterday, Suzuki revealed the ...
2h
on MSN
2024 GMC Sierra EV review: a good electric truck that could be better
The 2024 GMC Sierra
EV
arrives exclusively in high-end Denali Edition 1 guise with a base price of $99,945. That buys every ...
15h
Fire safety issues raised over EV bus depot plans
Concerns raised by London Fire Brigade (LFB) include risks to the structural integrity of the building if a fire broke out in ...
The Verge on MSN
23h
Kia’s rugged EV concepts are standouts at 2024’s SEMA conference
Kia’s spacious three-row EV9 got a rugged facelift for SEMA, transforming into a new adventure-themed concept aptly named ...
9h
Tesla Stock Soars Premarket, Bucking Wider EV Selloff
It's a bad day to be an electric-vehicle investor. That is, unless, you own Tesla stock. Shares in Elon Musk's EV company ...
1d
on MSN
Stellantis CEO did not confirm Maserati EV plans, union says
Stellantis CEO Carlos Tavares has failed to confirm previously announced electrification plans for Maserati, Italian trade ...
1d
Driving the biggest, least-efficient electric car: The Hummer EV SUV
We drove the pickup version of that new Hummer in 2022, now it's time for the $104,650 Hummer
EV
SUV. I'll admit I was ...
The Indianapolis Star
5d
Voters disapprove of Biden administration's EV push, Free Press poll says
Republican former President Donald Trump and Republicans have made much of what they called Democratic President Joe Biden's ...
1d
China's messy EV dispute with Europe keeps trade tensions in check
EU member states divided on tariffs, some seek closer China ties China aims to avoid trade war, needs EU market for EVs EU ...
Opinion
1d
Opinion
Auto Makers Put the EV Cart Before the Truck
First, build a good enough battery. Then, build a truck that people would want.
4h
What Does Trump's Victory Mean For EV Giant Tesla And The Big 3 Automakers?
A Trump presidency will end EV subsidies, which would devastate legacy automakers — GM, Ford and Stellantis — that are ...
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China
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