Volkswagen CFO Says ‘We Cannot Afford to Lose Any Time’ After a €5.86 Billion Q3 Operating Loss, Then Cites Tariffs and EV Margins
Volkswagen Group posted a third-quarter operating loss of €5.86 billion, against a loss of €1.3...
Auto Industry
LKQ’s Europe Margin Halved in a Year, and the CEO Left Before the Earnings Call
LKQ said on October 23 that its European segment earned an EBITDA margin of between...
Japanese-Owned Ohio Supplier Murotech Settles PPP Size Claims for $3 Million
Small business is a slippery label when your parent company sits on the other side...
Truist’s $5.5 Billion Near-Prime Auto Book Was Breaking Even, So the Bank Sold It and Is Shutting the Lender Down
Truist sold $5.5 billion of near-prime car loans from Regional Acceptance, a unit it says broke even, and is closing…
ZF Is Ending 120 Years of Steering Production in Lafayette. The Engineers Get to Stick Around.
ZF's WARN notice counts 133 jobs at its Lafayette steering plant, down from about 200 a year earlier, while the…
CarMax Now Makes $111 Less on Each Car and $116 More on Everything Sold With It
CarMax cut its per-car margin to revive sales, then earned it back on extended service plans and the shop while…
Your EV Accidentally Jams AM Radio. The House Just Voted to Make Automakers Keep It Anyway.
The House passed the AM Radio for Every Vehicle Act. The real target is the electrical noise EVs make, and…
Ford Brought Nothing to This Year’s Car of the Year Fight. It Was Busy Gutting a Factory.
Ford has no vehicle among NACTOY’s 25 semifinalists for 2027. The shutout says less about Ford’s health than about where…
This 130-Year-Old German Supplier Made Parts Every EV Still Needs. It Filed for Insolvency Anyway.
Prinz-Mayweg made seat, dashboard and steering tubes that electric cars still need. Its insolvency shows what is really squeezing German…
JLR’s Suppliers Want Out of Cars and Into Aerospace. The Hard Part Isn’t the Metal.
JLR's Midlands suppliers want help moving into aerospace and defence. Their letter is really a forecast about UK car volume,…
McLaren’s £500 Million Plan Isn’t Really About the SUV. It’s About Finally Building Its Own Engines.
For 15 years, an outside firm built McLaren's engines. The supercar maker's £500 million UK expansion brings that work in-house,…
CarMax Gave Up $230 a Car to Win Buyers Back. Headquarters Is Paying the Bill.
CarMax just cut 145 more corporate jobs. Its SEC filings suggest the real story is a pricing bet, and the…
Toyota Ate a $9 Billion Tariff Bill. Now the Fight Moves to the Showroom.
Toyota's filings show a 1.38 trillion-yen tariff hit and a North American loss despite rising sales. That is why the…
Hyundai Wants Guardrails Against Chinese Cars. Its Own History Says They Only Buy Time
Hyundai's CEO wants U.S. limits on Chinese automakers. The bigger news is his admission that Chinese car tech is ahead,…
Volkswagen Has Marked Down Porsche by €9 Billion in a Year. The 1% Forecast Is Just the Receipt.
Volkswagen’s 1 percent profit forecast is really about a €6 billion Porsche goodwill write-down, its second in a year, and…