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Automotive Industry
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Apple, Amazon book tariff refunds straight into earningsApple added $0.11 to diluted EPS and two full percentage points to gross margin from tariff refunds this quarter, while Amazon booked $600 million, according to Bloomberg's reporting on the rollbac…Tata Sons chairman won't seek a third termN Chandrasekaran has told the board he will not pursue reappointment as Tata Sons chairman when his term ends in February 2027, ending a months-long deadlock in which four of six directors backed a…Europe's carmakers are running out of rare earths, and China knows itOnly around a quarter of Chinese export license applications for rare earth magnets have been approved since Beijing tightened controls, according to CLEPA, and European auto suppliers have already…UK puts £65m into EV manufacturers despite mandate backlash£50 million goes directly to carmakers and research partners to scale production, matched by industry cash, sitting inside the wider £4 billion Drive35 programme meant to hit the 2030 petrol and di…Ford prices its cheap EV pickup, Fathom, at $28,350Ford's new Fathom electric pickup starts at $28,350, undercutting every other EV truck on the US market by a wide margin and directly targeting buyers priced out of Rivian's and Tesla's Cybertruck …Goodyear swings to a lossLower tyre volumes met higher input costs, a combination that has hit the whole auto supply chain as consumers delay replacement purchases. Goodyear's stock has underperformed Michelin and Bridgest…Waymo drops the waitlist in Dallas, opens robotaxis to everyoneWaymo removing the waitlist in Dallas means it's confident enough in fleet reliability and regulatory standing to serve any rider who opens the app, not just vetted early adopters. Dallas becomes a…Aston Martin creditors threaten legal action over branding rights saleCreditors are pushing back on a plan to sell off Aston Martin branding rights, a sign the carmaker's balance sheet repair is running into resistance from the people it owes money to, not just the m…Rivian cuts spending while Ferrari raises its forecast, same weekRivian trimming its 2026 spending plans and narrowing earnings guidance is capital discipline dressed up as strategy, a tacit admission that EV volume growth isn't materialising fast enough to just…UK car production down 7.5%, and carmakers want government helpA 7.5% drop in first-half vehicle production is the kind of number that turns into a lobbying campaign, and that's exactly what's happening as manufacturers push the government for cost relief. Ene…Ford handing Geely a Spanish foothold is an admission, not a partnershipFord's European business has been bleeding market share to Chinese EV makers for two years, and this tie-up effectively invites one of them into the factory rather than fighting them in the showroo…Aston Martin pushes through a £550m debt deal despite creditors saying noAston Martin has secured a £550m loan deal in the face of explicit creditor objections, which means the carmaker judged its cash position urgent enough to override the people it owes money to. Cred…Lucid needed turnaround advisers, not a new ad campaignBringing in turnaround specialists while EV sales slump is an admission that Lucid's problem is structural demand, not marketing execution, and that's a harder fix than swapping agencies. The luxur…Volkswagen's 100,000 job cuts are an admission, not a restructuringCutting a tenth of your global workforce isn't cost discipline, it's a company conceding it built the wrong cars for the wrong decade. VW's chief executive confirmed plans to axe up to 100,000 jobs…Cross-sector Market Talk roundups today span autos, tech and telecom, energy and utilities, and basic materials.Cross-sector Market Talk roundups today span autos, tech and telecom, energy and utilities, and basic materials, with no single item breaking out as decisive on its own.GM-backed Momenta's $752 million Hong Kong IPO opened higher today. The autonomous vehicle capital race has a new data point.Momenta, the autonomous driving software company backed by General Motors among others, rose in its Hong Kong debut today after raising $752 million, making it one of the larger tech listings in As…Tesla's Q2 sales rebound tells investors what they want to hear, but the manslaughter charge tells the harder storyTesla reported a stronger-than-expected Q2 sales figure, with deliveries rebounding sharply from a bruising Q1 and apparently signalling that the Musk-related brand damage has a ceiling. Investors …Nissan signs deal for Chery to build cars at SunderlandThe non-binding agreement would see China's third-largest carmaker assemble Omoda and Jaecoo branded vehicles at Nissan's UK plant starting in 2027. Sunderland has been running at roughly 50 percen…Apollo buys Forvia's interiors unit for €1.82bnApollo paid 4.1 times adjusted EBITDA for a business that makes door panels and center consoles across 59 plants. The €1.82 billion deal lets Forvia cut net debt by at least €1 billion while focusi…