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EVs could reach 24% EU car market share by 2025, T&E says

EVs could reach 24% EU car market share by 2025, T&E says By Anna Peverieri and Alessandro Parodi Sept 17 (Reuters) - Battery-electric cars (BEVs) sold in the European Union are set to reach a total market share of between 20% and 24% by 2025, mostly because of cheaper selling prices, campaign group Transport & Environment (T&E) said on Tuesday. EV sales in the EU have slowed in recent months - to a 14% market share in the first half of the year - in part due to diverging policies on green incen
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Motor racing-Piastri wins in Baku as McLaren take over at the top

UPDATE 2-Motor racing-Piastri wins in Baku as McLaren take over at the top Piastri wins Azerbaijan GP from second on the grid McLaren now 20 points clear of Red Bull Leclerc started from pole but finished second Norris fourth with fastest lap, Verstappen fifth Sainz and Perez collide on penultimate lap Adds details, no further action on collision By Tuvan Gumrukcu BAKU, Sept 15 (Reuters) - Oscar Piastri won the Azerbaijan Grand Prix as McLaren went top of the constructors' standings in a race th
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Ford says to restart India production for exports after two-year gap

UPDATE 2-Ford says to restart India production for exports after two-year gap Ford to restart output at India plant for export Type of manufacturing, export market not disclosed Adds quotes and details throughout By VarunVyas Hebbalalu and Aditi Shah BENGALURU, Sept 13 (Reuters) - Ford Motor F.N said on Friday it plans to restart manufacturing at its factory in the southern Indian state of Tamil Nadu, two years after it ended production in India, the world's third-largest car market.
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Carmakers adjust electrification plans as EV demand slows

Carmakers adjust electrification plans as EV demand slows Recasts first paragraph; adds Stellantis in paragraph 6; Sept 12 (Reuters) - Several global automakers are scaling down their electrification targets, hurt by slowing demand for fully electric vehicles due to lack of affordable models, slow roll-out of charging points, growing trade tensions and increased competition from cheaper Chinese rivals.
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Motor racing-Aston Martin are the team of the future, says Alonso

Motor racing-Aston Martin are the team of the future, says Alonso By Tuvan Gumrukcu BAKU, Sept 12 (Reuters) - Aston Martin are Formula One's 'team of the future' after signing top designer Adrian Newey, Fernando Alonso said on Thursday while recognising the time frame might not be soon enough for him. Spain's double world champion has a contract to 2026, when he will be 45 years old.
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China's Geely scouting locations for Europe plant

RPT-China's Geely scouting locations for Europe plant Repeating item sent previously with no changes to text By Victoria Waldersee FRANKFURT, Sept 12 (Reuters) - Chinese carmaker Geely 0175.HK is scouting locations for a plant in Europe but has not committed fully to building up local production, executives from the car conglomerate said in interviews with Reuters in Frankfurt.
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China's Geely scouting locations for Europe plant

RPT-China's Geely scouting locations for Europe plant By Victoria Waldersee FRANKFURT, Sept 11 (Reuters) - Chinese carmaker Geely 0175.HK is scouting locations for a plant in Europe but has not committed fully to building up local production, executives from the car conglomerate said in interviews with Reuters in Frankfurt. "It is not 100% yet," Li Chuanhai, vice president of Geely Auto Group, one of Zhejiang Geely Holding Group's GEELY.UL brands, said when asked whether the carmaker would build
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Motor racing-Alpine and Honda in procedural breach of F1 cost cap

Motor racing-Alpine and Honda in procedural breach of F1 cost cap LONDON, Sept 11 (Reuters) - All 10 Formula One teams complied with the cost cap for the second year in a row in 2023 but procedural breaches were identified for engine makers Alpine and Honda, the governing FIA said on Wednesday. The 2023 season was the third year under cost cap restrictions for teams, who were limited to $138.6 million, and the first for power unit manufacturers as the sport moves towards a new engine in 2026. "T
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BMW cuts 2024 outlook on Continental brake issues, shares plunge

UPDATE 4-BMW cuts 2024 outlook on Continental brake issues, shares plunge BMW now expects EBIT margin of 6-7% in 2024 Continental says some braking systems need to be replaced BMW shares down 11.7%, Continental shares down 10% Adds share price benchmark in paragraph 2, Citi analysts in paragraph 7 By Paolo Laudani and Christina Amann Sept 10 (Reuters) - BMW BMWG.DE cut its 2024 profit margin outlook on Tuesday due to sluggish demand in its key Chinese market and problems related to a braking sys
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BMW shares fall after FY outlook cut, dragging peers

BUZZ-BMW shares fall after FY outlook cut, dragging peers ** Shares in BMW BMWG.DE fall around 7% to their lowest since October 2022 after the German carmaker trimmed its guidance, dragging its peers down ** BMW now expects FY EBIT margin to be in a range of 6% to 7% compared to 8% to 10% previously targeted ** Shares in Mercedes-Benz MBGn.DE , Vol
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Slow EV momentum, trade tension bring volatility to European car makers - Berenberg

BUZZ-Slow EV momentum, trade tension bring volatility to European car makers - Berenberg ** Berenberg expects the European automotive sector to remain volatile amid slowing electric vehicle (EV) momentum, trade tensions with China and regulatory uncertainties ** The broker lowers its 2024-26 OEM automotive operating profit outlook by about 10% on a
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Labour woes at India operations of global companies

FACTBOX-Labour woes at India operations of global companies BENGALURU, Sept 10 (Reuters) - Samsung Electronics' 005930.KS operations at its plant in southern India were disrupted for a second day on Tuesday by hundreds of employees striking for higher wages. Global firms such as automaker Renault RENA.PA and Apple-supplier Foxconn 2317.TW have begun manufacturing in India in recent years, drawn by its large market but also cheaper labour.
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We will never turn against European market, says Geely executive

We will never turn against European market, says Geely executive FRANKFURT, Sept 10 (Reuters) - The senior vice president of China's Geely Holding Group GEELY.UL said on Tuesday that the company would never turn against the European market. "Our industry can only be stronger when we work together and cooperate across borders," Victor Yang said in Frankfurt.
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Barclays Bank, Ferrari, Volkswagen

EUROPE RESEARCH ROUNDUP-Barclays Bank, Ferrari, Volkswagen Sept 9 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Barclays Bank, Ferrari and Volkswagen on Monday. HIGHLIGHTS * Barclays Bank BARC.L : Morgan Stanley raises target price to 300p from 290p * Ferrari RACE.MI : Citigroup raises target price to EUR 360 from EUR 334 * Mercedes-Benz Group AG MBGn.DE : Citigroup cuts target price to EUR 60 from EUR 65 * Shell Plc SHEL.L : HSB
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China, price cuts and costs: the fuel driving Volkswagen's crisis

RPT-ANALYSIS-China, price cuts and costs: the fuel driving Volkswagen's crisis Repeats SEPT 6 story. Updates reference to "this week" in paragraphs 2 and 18 to "last week" Profits from China have halved in a decade Europe's car market is shrinking VW brand margins hit by high costs, price cuts By Victoria Waldersee, Christina Amann, Christoph Steitz BERLIN/FRANKFURT, Sept 9 (Reuters) - In May, Volkswagen VOWG_p.DE finance chief Arno Antlitz warned that Europe's top carmaker had about two or thre
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Renault CEO says sector could face billions in fines as EV sales slow

Renault CEO says sector could face billions in fines as EV sales slow PARIS, Sept 7 (Reuters) - Europe's autos industry could face fines of 15 billion euros ($17.4 billion) for carbon emissions due to slowing demand for electric vehicles, Renault CEO Luca de Meo said on Saturday. Automakers face tougher EU CO2 targets in 2025 as the cap on average emissions from new vehicles sales falls to 94 grams/km from 116 g/km in 2024. "If electric vehicles remain at today's level, the European industry may
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China, price cuts and costs: the fuel driving Volkswagen's crisis

ANALYSIS-China, price cuts and costs: the fuel driving Volkswagen's crisis Profits from China have halved in a decade Europe's car market is shrinking VW brand margins hit by high costs, price cuts By Victoria Waldersee, Christina Amann and Christoph Steitz BERLIN/FRANKFURT, Sept 6 (Reuters) - In May, Volkswagen VOWG_p.DE finance chief Arno Antlitz warned that Europe's top carmaker had about two or three years to prepare for cut-throat competition from abroad, mainly China.
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Carmakers adjust electrification plans as EV demand slows

FACTBOX-Carmakers adjust electrification plans as EV demand slows Sept 6 (Reuters) - Japan's Toyota Motor 7203.T has reportedly slashed its electric vehicle production plans for 2026 by a third, the latest automaker to roll back EV plans amid slowing demand. The global sales of EVs - either fully electric or plug-in hybrid - rose 20% in the first half of 2024, slower than expected, data from market research firm Rho Motion showed.
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VW factory threat stress-tests Germany's economic model

ANALYSIS-VW factory threat stress-tests Germany's economic model Industrial consensus key part of German model Volkswagen plant closure threat breaks taboos Ruling coalition struggling to agree policy By Maria Martinez and John O'Donnell BERLIN, Sept 6 (Reuters) - Having lost cheap energy from Russia and facing uncertainty over its once-lucrative trade ties with China, big German business is now facing a crunch point over a third ingredient in its long-time formula for success - consensual indus
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Motor racing-Bearman to replace banned Magnussen at Haas for Azerbaijan GP

Motor racing-Bearman to replace banned Magnussen at Haas for Azerbaijan GP LONDON, Sept 6 (Reuters) - Ferrari reserve Oliver Bearman will replace the banned Kevin Magnussen alongside Nico Hulkenberg at Haas for next week's Azerbaijan Grand Prix, the U.S.-owned Formula One team said on Friday. Briton Bearman is set to race for Haas full-time next season in an all-new lineup with Frenchman Esteban Ocon and made his F1 debut for Ferrari in March when he finished seventh as a stand-in for appendicit
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