Focus on Electrification
Tesla raises 4% salary for German Gigafactory employees
Tesla, the American electric car manufacturer, announced on November 5th that it has increased the salaries of all employees at its German Gigafactory by 4% since early November. When many companies in the German automotive industry are discussing layoffs or factory closures, Tesla's move has been welcomed by employees.
Tesla plans to build a large charging station in California
Tesla has announced a plan to build a large charging station in Colinga, California, with 168 parking spaces, which will be one of Tesla's largest charging stations currently under its umbrella. It is reported that the biggest feature of the charging station is the installation of giant solar panels, implying that some charging piles will be powered by solar energy.
Tesla begins delivering Cybertruck in Canada
On November 4th, Tesla began delivering Cybertrucks to consumers in Canada. However, unlike American consumers, Canadian consumers can still only purchase Foundation series Cybertrucks with a starting price of CAD 138000.
General Motors recalls 107 Bolt electric vehicles at risk of fire
The National Highway Traffic Safety Administration announced on November 5th that General Motors will recall 107 Bolt EV and EUV vehicles that pose a fire risk. This recall covers the 2020-2022 Bolt electric vehicles that have already been repaired.
France seeks to promote EU wide electric vehicle subsidy policy
The newly appointed French Minister of Industry, Marc Ferracchi, hopes to develop an aid plan for the European automotive industry, with a focus on coordinating electric vehicle purchase subsidies among EU countries. In an interview with German media, Ferracchi proposed that EU countries emulate France's current electric vehicle subsidy program.
Focus on the new trends of traditional car companies
Toyota will announce its first profit decline in two years
According to the average forecast of nine analysts surveyed by LSEG, Japanese automaker Toyota's operating profit from July to September this year is expected to decline by 14% year-on-year to 1.2 trillion yen ($7.9 billion), marking the company's first profit decline in two years.
Audi Q3 operating profit drops 91% year-on-year
Due to the decrease in luxury car consumption in China and the restructuring of the Brussels factory in Belgium, Audi barely achieved operating profit in the third quarter of this year. The company announced on November 5th that its operating profit decreased by 91% to 106 million euros in the three months ending in September.
Ferrari Q3 core profit increased by 10% year-on-year
Luxury sports car manufacturer Ferrari announced on November 5th that despite a slight decrease in car shipments, its net revenue for the third quarter still increased by 6.5% year-on-year to 1.644 billion euros, and its adjusted pre tax profit increased by 10.3% year-on-year to 467 million US dollars, with an adjusted pre tax profit margin of up to 28.4%.
Suzuki collaborates with Volvo to achieve EU carbon emission targets by 2025
Suzuki Motor stated that it will merge its sales in the European Union with Volvo Cars, as Volvo's electric vehicle sales in Europe are very strong and will help it avoid fines for non-compliance with emissions standards.
Stellantis signed a production agreement with Türkiye's automobile manufacturer Tofas
Türkiye's automobile manufacturer Tofas announced that it had signed an automobile production agreement with Stellantis Europe, which granted Tofas the right to produce "K0" models and "Combi" versions for Stellantis brands such as Fiat, Opel, Citroen and Peugeot in Türkiye.
Mazda recalls over 80000 vehicles in the United States
The National Highway Traffic Safety Administration of the United States disclosed on November 5th that Mazda North America will recall some 2024-2025 CX-90 and 2025 CX-70 vehicles, totaling 80915 units, due to dashboard display and functional failures.
Focus on Car Market Sales
UK car sales in October fell 6% year-on-year
According to data from the Association of British Automobile Manufacturers and Traders, the number of new car registrations in the UK in October decreased by 6% year-on-year to 144288, marking the second decline this year.
Canadian car market sales in October increased by 8.8% year-on-year
According to data from DesRosiers Automotive Consultants, new car sales in Canada increased by 8.8% year-on-year to 162000 units in October. This year, the annual sales volume of the Canadian automotive market is expected to reach the pre pandemic level of 1.8 million vehicles.
Focus on Intelligence
Elon Musk: Affordable electric cars without autonomous driving are meaningless
Recently, in response to an investor's question about when Tesla will launch a regular model of non robot taxis priced at $25000, Tesla CEO Elon Musk said, "Basically, it's meaningless to manufacture a regular electric vehicle priced at $25000 unless the car can achieve full autonomous driving
Focus on Supply Chain
Schaeffler Q3 revenue and profit double decline
In the third quarter of this year, Schaeffler's revenue decreased by 1.1% year-on-year to 3.957 billion euros, and its adjusted pre tax profit plummeted by 45% to 187 million euros; The pre tax profit margin also decreased from 8.4% in the same period last year to 4.7%.
Michelin will close two French factories
French tire manufacturer Michelin announced on November 5th that it will close two factories in France in early 2026, affecting approximately 1250 jobs. The company added that these two factories, which are about to close, are severely affected by the structural transformation of the passenger car, light truck, and truck tire markets, as well as the deterioration of European competitiveness, particularly due to inflation and rising energy prices.
