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Motoring

Motoring
Porsche shares crash as China drives out market share
A long-running purple patch is well and truly over for German sports car manufacturer Porsche as it posted its first-ever quarterly operating loss of €966 million (A$1.71 billion) in the third quarter, marking a dramatic reversal from the €974 million profit recorded in Q3 last year. The deficit, which exceeded analyst expectations of €611 million, signals deepening troubles across Europe's automotive sector, as manufacturers grapple with United States tariffs, collapsing Chinese demand, and costly strategic retreats from electric vehicle commitments.A perfect stormThe company expects ~€700 million in losses from U.S. import duties this year alone, while expenses related to its rollback of EV expansion announced last month added significantly to third-quarter costs. Porsche CFO Jochen Breckner warned that "large-scale solutions" were needed in ongoing restructuring negotiations with labour representatives. “We expect 2025 to be the trough that precedes a noticeable improvement for Porsche from 2026 onwards.” For the full year, the carmaker anticipates a €3.1 billion hit to earnings from its EV strategy overhaul, the decision to scrap in-house battery production, and restructuring costs. Operating profit for the firs
Motoring
Ford earnings beat; guidance cut after supplier fire
Ford Motor beat estimates on automotive revenue and earnings per share last quarter, but has lowered its guidance as a fire at a supplier hampers production. Automotive revenue was US$47.19 billion, rising from $43.07 one year ago and above LSEG estimates of $43.08 billion. Earnings per share were $0.45, down from $0.49 but passing estimates of $0.36. “Ford posted another strong quarter, delivering more than $50 billion in revenue powered by our incredible products and services, the durability of Ford Pro and our disciplined focus on cost and quality,” said Ford CEO Jim Farley. “We are heading into 2026 as a stronger and more agile company. We will continue to focus on execution and on quickly making the right strategic calls on propulsion, partnerships and technology that will create tremendous value for our customers.” Total revenue, including its loan business, Ford Credit, was $50.54 billion, up from $46.20 billion one year ago. Adjusted EBIT was $2.59 billion, growing from $2.55 billion, and including an $0.7 billion hit from United States tariffs. Novelis, an aluminium supplier to companies like Ford and Stellantis, reported a fire at a New York plant in September, with production set to resume in November
Motoring
Volvo Group earnings dip, sees lower NA sales
Truckmaker Volvo Group’s net sales and earnings per share dropped last quarter, with the company cutting its sales forecast for North America due to tariffs. Net sales were down 5% year-over-year to SEK110.7 billion ($18 billion AUD), or up 1% when adjusted for currency movements. Earnings per share declined to SEK3.71, from SEK4.93. “We are in a period with weaker demand in our key regions and with increased uncertainty in North America. In this situation, we focus on what we can impact,” said Volvo Group CEO Martin Lundstedt. “We have adjusted our operations, applied strict cost control, remain firm on commercial conditions and drive our service business.” Adjusted operating income was SEK11.71 billion, down from 14.07 billion, but above Bloomberg-compiled estimates of 11.3 billion. Its adjusted operating margin was 10.6%, falling from 12.0%. Volvo Group reported a net tariff hit of SEK500 million, and expects an impact of around SEK1 billion next quarter. Imported medium and heavy-duty trucks will face a 25% tariff in the United States from 1 November. Vehicle sales fell by 6% last quarter, and services sales dropped by 2%. While vehicle sales were up 4% in Europe, sales declined in all other regions, includin
Motoring
Munich Car Show: EU automakers unveil EVs, budget models
Major automakers unveiled a wave of new vehicles at the Munich IAA Mobility show on Monday, highlighting electric vehicles (EVs) and more affordable models as Europe’s automotive industry grapples with rising costs, tariffs, and stiff competition from Chinese manufacturers. Facing challenging EU carbon emission targets for 2035, several European brands signalled a broader production strategy rather than focusing solely on EVs or alternative-fuel vehicles. Volkswagen Chief Executive Oliver Blume told Reuters: "The main problem is that we have many crises at the same time," citing U.S. tariffs, challenges in China, and the high costs of potential restructuring. Blume added that tariffs are costing the firm “several billion euros” this year, although Volkswagen is in talks with the U.S. government on measures, including an Audi plant, to mitigate the impact. Porsche, VW’s luxury sports car brand, is also facing pressure on margins due to the combination of tariffs and weak Chinese demand. Stellantis, the Franco-Italian carmaker, confirmed it will not limit production solely to EVs as it targets 2030 goals. Jean-Philippe Imparato, head of Stellantis’ European operations, said EU carbon emission targets for 2035 are n
Motoring
EV maker Nio misses estimates as deliveries slow
Electric vehicle company Nio missed estimates last quarter, as vehicle deliveries slowed in July and August amid China’s price wars. Shanghai-based Nio reported revenue of CN¥19.01 billion (US$2.65 billion, A$4.09 billion), up 9.0% year-over-year but below Visible Alpha estimates of ¥19.91 billion. Its net loss was ¥5.14 billion, 1.0% greater than in 2024’s second quarter and missing estimates of a ¥4.96 billion loss. “The strong market reception of ONVO L90 and NIO All-New ES8 has reinforced our overall sales momentum. Driven by this strong demand, we anticipate total deliveries in the third quarter to range between 87,000 and 91,000, representing a year-on-year growth of 40.7% to 47.1% and setting a new Company record,” said Nio CEO William Bin Li. Total Q2 deliveries were up 25.6% to 72,056, but Nio reported 21,017 deliveries in July and 31,305 in August. In July and August 2024, the company made 20,498 and 20,176 deliveries, respectively. China’s government has pushed EV companies to halt price cuts and constrain production in recent months. Other Chinese EV makers like BYD and Li Auto also reported a decline in deliveries in July, with BYD’s profit dropping for the first time in more than three years. “Starting

Lifestyle

Motoring

Porsche shares crash as China drives out market share

Ford earnings beat; guidance cut after supplier fire

Volvo Group earnings dip, sees lower NA sales

Munich Car Show: EU automakers unveil EVs, budget models

EV maker Nio misses estimates as deliveries slow

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