Author: Central Desk

The Indian auto components industry is bracing for a slowdown, with revenue growth expected to taper to 6-8% in the current and next financial year, according to a CRISIL report. The deceleration is attributed to weakening demand and sluggish global markets. In response, industry leaders are pursuing diversification strategies to sustain growth and mitigate the impact. RSB Group, a leading automotive component manufacturer, has noted a 15% slowdown in the commercial vehicles and construction equipment sectors, driven by reduced infrastructure investment. Recognising the industry’s dependence on government spending and GDP growth, the company is shifting focus to international markets. RSB…

Morocco has emerged as a significant player in the global automotive industry, surpassing several European countries in car production, according to data from the International Organisation of Motor Vehicle Manufacturers (OICA). The nation now accounts for 0.6% of the world’s car production, underscoring its growing prominence in the sector. The OICA report highlights that Morocco has outpaced countries like Belgium and achieved double the production volume of Portugal. This achievement reflects the rapid development of Morocco’s industrial sector and the rising influence of the ‘Made in Morocco’ brand on the global stage. Morocco’s automotive exports reached a record 150 billion…

Germany auto industry, a cornerstone of its economy, faces a mounting crisis marked by job cuts, declining competitiveness, and the challenges of transitioning to electric vehicles (EVs). Volkswagen (VW) has announced plans to reduce thousands of jobs in Germany, with similar cuts expected across other automakers and their suppliers. The situation, described as a ‘German polycrisis’ by Stefan Bratzel of the Center of Automotive Management, stems from a mix of challenges, including high labour costs, lagging innovation in EVs, and stiff competition from emerging global players. German automakers, traditionally strong in combustion engine vehicles, are struggling to adapt to the…

The UK car industry achieved a milestone in 2024, selling a record 382,000 battery electric vehicles (BEVs), but fell short of the government’s mandated target for carmakers, according to the Society of Motor Manufacturers and Traders (SMMT). Electric vehicles accounted for 19.6% of new car sales, below the government’s 22% benchmark. The shortfall risks penalties of €15,000 ($18,625) per non-compliant vehicle, but the government has assured manufacturers can avoid fines through flexibility mechanisms, which consider emissions reductions across entire fleets. Mike Hawes, SMMT’s chief executive, highlighted the substantial financial burden on the industry, citing billions invested in new models and…

Tesla experienced its first annual sales decline in Australia in 2024, with deliveries dropping 17% despite significant price reductions of up to $9,500. Data from the Electric Vehicle Council (EVC) revealed 38,347 Tesla cars delivered in 2024, down from 46,120 in 2023, marking a stark contrast to the global decline of just 1%. However, the 2024 figures remain significantly higher than the 19,594 units sold in 2022. Despite a 63% year-on-year increase in December deliveries—reaching 3,593 units—Tesla’s Australian sales faced consecutive monthly declines for much of the year. The downturn in Tesla sales outpaced the broader automotive market, which is…

BlackBerry has announced a strategic move to rename its ‘BlackBerry IoT’ division as ‘QNX,’ relaunching the iconic brand to reinforce its position as a leader in the automotive and embedded industries. The decision, shaped by input from stakeholders, highlights the brand’s storied history and its evolving role in powering next-generation Software-Defined Vehicles (SDVs) and mission-critical systems. “Relaunching the QNX brand is key to strengthening our visibility and leadership within these industries, positioning us for sustained growth,” said John J. Giamatteo, CEO of BlackBerry. He emphasised that the brand relaunch honours QNX’s legacy while driving innovation in smarter, safer, and faster…

Tesla CEO Elon Musk has alleged a potential connection between the explosion of a Cybertruck outside the Trump International Hotel in Las Vegas and a similar attack in New Orleans, citing that both vehicles were rented from the car rental platform Turo. In a post on X, Musk stated, “Appears likely to be an act of terrorism. Both this Cybertruck and the F-150 suicide bomb in New Orleans were rented from Turo. Perhaps they are linked in some way.” The Las Vegas explosion, which occurred Wednesday morning, resulted in one fatality and injured seven others, according to CNN. Musk clarified that…

Hyundai Motor India Limited (HMIL) has announced its highest-ever annual domestic sales figures for 2024, registering 6,05,433 units sold. The company’s total sales for the year, including exports, reached an impressive 7,64,119 units. In December alone, HMIL recorded total sales of 55,078 units, comprising 42,208 units sold domestically and 12,870 units exported. Tarun Garg, Whole-time Director and Chief Operating Officer at HMIL, attributed this milestone to the company’s ability to maintain momentum despite industry challenges. Garg highlighted the successful introduction of the innovative Hy-CNG Duo technology, which significantly boosted the contribution of CNG vehicles to domestic sales. In 2024, CNG…

Geely Auto Group and Tasco Joint Stock Company have announced plans to begin construction of an automobile manufacturing and assembly plant in the Tiền Hải Economic Zone, Thái Bình Province, in the first half of 2025. The facility is expected to produce its first vehicles by early 2026. The partnership involves forming a joint venture for automobile assembly and distribution in Vietnam. Covering 30 hectares, the factory will have an initial annual capacity of 75,000 vehicles, with a total investment of $168 million. Tasco will hold a 64% stake in the venture, while Geely Auto will control 36%. Tasco Auto,…

Kenya’s second-hand car importers are facing major financial risks as they work against the clock to clear vehicles ahead of new government regulations set to take effect on January 1, 2025. The Kenya Bureau of Standards (Kebs) will enforce an eight-year age limit on imported used vehicles, restricting entry to right-hand drive cars first registered on or after January 1, 2018. The regulations, aimed at enhancing road safety and reducing the influx of older, high-maintenance vehicles, have caused widespread panic in the industry. Importers are scrambling to process and clear vehicles registered in 2017 or earlier to avoid them being…