Etiqueta: Tariffs

The current crisis affecting the European automotive industry is an acute threat to Europe’s economic future. Will a summit between the auto sector and Ursula von der Leyen on Friday provide a life-line?

MUNICH (Reuters) -Volkswagen on Sunday unveiled a concept for a new small electric SUV that is part of the carmaker's push to offer affordable battery-powered vehicles. "From the very beginning, my goal was to shape the best version of the Volkswagen brand of all time," Volkswagen brand chief and group board member Thomas Schaefer said at the IAA Munich car show. "The near-production concept car of the ID.CROSS demonstrates that we are now truly delivering."

Yahoo Finance is chronicling the latest news and updates on Trump's tariffs.

BYD and Tesla are locked in a global battle for EV dominance — and now, the Chinese automaker has raised the stakes, adding a new car to its lineup.

Jefferies Financial Group downgraded BYD from a "strong-buy" rating to a "hold" rating in a research note on Monday.

Europe’s auto industry will be grappling with a moribund economy and an existential threat from China as a motor show in Munich gets underway.

BYD does not have to pay steep per-automaker levies for China-made EVs when importing hybrids. By Stewart Burnett

LONDON/FRANKFURT/BERLIN (Reuters) -Chinese and European carmakers are set to face off at next week's Munich car show, reflecting intensifying competition on the continent that has pitted incumbents such as Volkswagen against EV giant BYD and newcomers GAC and Changan. This year's IAA Mobility, the continent's biggest biennial car show, comes as European automakers lose ground in China - the world's biggest market - in what some executives have described as a "Darwinian" price war. At the same time, to escape pressure at home Chinese automakers are expanding into Europe in search of profits, above all electric vehicle maker BYD, whose global sales soared to 4.2 million cars in 2024, up ten-fold from 2019.

From the Venice Film Festival to the pages of Italian newspapers, BYD is entering the national public sphere not merely as a car manufacturer, but as a cultural and political actor. The message is clear: China is not just selling cars — it seeks to redefine symbols and rules of the game, even by challenging [...]

The little BYD Dolphin Surf city car could lead the way to a mass market for electric vehicles in Europe because it won’t need subsidies or government edicts to sell.