Motoring

Motoring
Michelin lowers guidance amid lower North American sales
Tire manufacturing company, Michelin, has lowered its guidance for 2025 following a sharp decline in sales in North America, compounded by a decline in the dollar. The company now expects operating income between 2.6 billion euros and 3.0 billion euros, which is down from the previous guidance of 3.4 billion euros. This comes as the tyre manufacturer posted sales volume growth in every region except North America for the third quarter sales. In North America, sales volumes fell almost 10%, with “plummeting demand for truck and agriculture segments, a weak sell-out market in truck replacement tyres that reflected the soft economy, and headwinds in sales to consumers. "On the margin front, group competitiveness has been impacted by tariffs," Michelin said in a statement. North America is the company’s largest market, and despite manufacturing locally to avoid tariffs, Michelin is seeing a knock-on impact from weaker car sales after manufacturers were forced to hike prices and customers became more cautious. Michelin also lowered its expected free cash flow before M&A to between 1.5 billion euros and 1.8 billion euros, down from more than 1.7 billion euros, due to the weaker dollar.
Motoring
US new car prices top $50k as EV sales soar
The average price United States buyers paid for a new vehicle was over US$50,000 (A$76,822) for the first time last month, due to rising electric vehicle and luxury sales. The average transaction price for new vehicles was $50,080 in September, up 2.1% from August and rising 3.6% year-over-year, according to Cox Automotive. Electric vehicles’ U.S. market share reached a record 11.6%. “While there are many affordable options out there, many price-conscious buyers are choosing to stay on the sidelines or cruising in the used-vehicle market. Today’s auto market is being driven by wealthier households who have access to capital, good loan rates and are propping up the higher end of the market,” wrote Cox Automotive executive analyst Erin Keating. “Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory.” Electric vehicle sales reached a record 437,487 across the third quarter. The U.S.’ $7,500 tax incentive for EV purchases expired on 30 September, sending sales up almost 30% as consumers rushed to buy. Tata Motors, which owns Jaguar Land Rover, had the highest av
Motoring
Ferrari shares crash after shaving EV targets by 50%
Ferrari's share price took a 16% haircut on Wall Street after the Italian luxury carmaker drove in guidance on Thursday that failed to set pulses racing. The Maranello-based manufacturer upgraded its 2025 net revenue guidance to at least €7.1 billion (A$12.5 billion), up from a previous forecast of more than €7 billion (A$12.4 billion). For 2030, Ferrari is targeting net revenues of around €9 billion (A$15.9 billion) with earnings before interest, tax, interest, depreciation and amortisation (EBITDA) of at least €3.6 billion (A$6.4 billion). On paper, the numbers look solid. Ferrari is exceeding its 2026 profitability targets a full year ahead of schedule, planning to increase dividend payouts from 35% to 40% of adjusted net profit. It is also launching a €3.5 billion (A$6.2 billion) share buyback program from 2026 through to the end of the decade. But the market was looking for something higher octane. Analysts at Citi noted that Ferrari's guidance fell below their lower growth case estimates and reflects what they see as conservatism from management. Concerns were not just about the numbers but what they signal about operating leverage through the coming cycle, with potential risks to both consensus earnings
Motoring
Transurban sticks by payout as traffic increases
Transurban has reaffirmed its distribution guidance after reporting a 2.7% increase in average daily traffic (ADT) for the three months ended 30 September 2025. The toll roads operator said ADT averaged 2.6 million trips per day as it increased 1.7% in Sydney, 3.2% in Melbourne, 2.6% in Brisbane and 6.8% in North America in the September quarter. Chair Craig Drummond said the Board was excited about the project milestones on the horizon and the pipeline of opportunities being evaluated, which would continue to drive long-term value and distributions for security holders. He said the company would open three major projects in the next year, and beyond that, it was actively exploring another $10 billion pipeline of potential opportunities. The Board also reaffirmed its 2026 financial year (FY26) distribution guidance on the back of good traffic results for the September quarter. “Transurban reaffirms that the FY26 distribution is expected to be 69.0 cps, representing approximately 6% growth on FY25,” Drummond said in an address to the annual general meeting. Sydney ADT was supported by growth on WestConnex (+8.2%), NorthConnex (+2.8%) and M5 West (+0.8%) despite three-times higher rainfall than a year ago and CBD a
Motoring
Tesla launches lower-cost models, but shares sink 4.5%
Tesla has unveiled lower-cost versions of its Model Y SUV and Model 3 sedan to boost sales after the expiry of the United States’ electric vehicle tax credit, though its share price fell by 4.5% as investors were underwhelmed. The new Model Y Standard and Model 3 Standard are priced at around US$39,990 and $36,990, just $5,000 less than the existing versions. Tesla CEO Elon Musk had said last year that the company would release vehicles priced below $30,000. “Meet Model Y Standard & Model 3 Standard – our most affordable vehicles,” Tesla wrote. “Ultra-low cost of ownership, engineered for safety & comes with the best Tesla features you love.” The Standard versions of these vehicles include a range of 517 kilometres, below the typical Model Y’s range of 600 kilometres and the Model 3’s range of 750 kilometres. These cars also feature seven speakers instead of 15, and do not have automatic steering or a backseat touchscreen. Tesla’s Standard models will be available in the United States in December or January, and are not currently expected to be released in Australia. The company reportedly cancelled plans to launch an all-new vehicle priced at about $25,000 last year. Musk had also said in 2024 that pricing Tesla’s

Motoring
Aston Martin shares fall due to tariff uncertainties
Aston Martin shares fell around 10% on Monday following a fresh profit warning from the British carmaker, attributing it to a challenging industry outlook and uncertainties over tariffs. The company, which is best known for its role in the James Bond movies and history of financial ups and downs, said it expects 2025 wholesale volumes to fall by a “mid-high single digit percentage” compared to last year’s 6,030. The carmaker also no longer expects positive free cash flow generation in the second half of the year and will initiate an immediate review of future costs and capital expenditure. The company now expects to log an earnings before interest and taxes (EBIT) loss of US$147.8 million. “The global macroeconomic environment facing the industry remains challenging,” the automaker said in a release. “This includes uncertainties over the economic impact from U.S. tariffs and the implementation of the quota mechanism, changes to China’s ultra-luxury car taxes and the increased potential for supply chain pressures.” In May, the U.S. imposed 25% tariffs on more than $460 billion worth of annual vehicle and auto parts imports. Following this, U.S President Donald Trump and UK Prime Minister Keir Starmer agreed to
Motoring
Explainer: Why have Tesla shares rebounded?
Tesla’s share price has looked like a rollercoaster this year. Starting 2025 at US$379, it plunged to a low of $222 in April, but has now surged to more than $430. Tesla stocks are up around 15% across the year to date. The share price decline stemmed partly from CEO Elon Musk’s unofficial role directing the White House’s Department of Government Efficiency (DOGE) initiative, where he oversaw sweeping cuts to many federal agencies, as well as collapsing Tesla sales. Tesla’s shares started to bounce back once Musk said he would exit DOGE, and have been sent to fresh 2025 highs after the company announced a $975 billion pay package for Musk. However, whether the company can sustain its resurgence will depend on economic headwinds and the increasingly competitive electric vehicle market.The rally beginsTesla’s share price began to recover when Musk said in late April that he would step back from his role at DOGE. After Musk said he would largely exit the White House from May and instead shift his focus to Tesla, the company’s stocks climbed by 5% in after-hours trading. By the time Musk fully left his United States government role, shares had rebounded to less than 5% below Tesla’s position at the start of 2025. The compa
Motoring
Tesla posts record deliveries as US EV tax credit ends
Tesla reported record vehicle deliveries last quarter, shortly before a United States tax credit for electric vehicle buyers expired. The company delivered 497,099 vehicles, up from 462,890 year-over-year and beating FactSet estimates of 447,600. A US$7,500 (A$11,370) incentive to buy new plug-in or fuel cell electric vehicles ended on 30 September, the last day of the quarter. “In the third quarter, we produced over 447,000 vehicles, delivered over 497,000 vehicles and deployed 12.5 GWh of energy storage products – a record for both deliveries and deployments,” wrote Tesla. Tesla does not disclose its deliveries per region. Tesla electric vehicle registrations in the European Union fell by 36.6% in August, according to the European Automobile Manufacturers’ Association. In the U.S., vehicle sales are set for a new record this year, as consumers rushed to buy ahead of the tax credit’s expiry and potential tariff-related price increases. Cox Automotive projects total new U.S. vehicle sales will be in the range of 15.8-16.4 million this year, with a 16.1 million baseline. Around 16 million were sold in the country last year. Ford, General Motors, and Hyundai all similarly reported record electric vehicle sales last
Motoring
Record EV sales deliver strong Q3 US sales for carmakers
Strong electric vehicle sales have helped to deliver robust third-quarter results for major automakers, with Ford Motor, General Motors and Hyundai all reporting record quarterly sales of all-electric vehicles from July through September. GM and Ford witnessed third-quarter sales up by around 8% from a year earlier, with EV sales more than doubling for GM and by 30% at Ford. Hyundai also reported a doubling sales of all-electric vehicles during the third quarter, with year-on-year sales up 13%. Underpinning strong EV sales were consumers proceeding with plans to purchase a new zero-emissions vehicle ahead of federal EV incentives of up to US$7,500 ending in September. Cox Automotive forecasts sales of EVs hit 410,000 during the third quarter, up 21% from a year earlier - marking the highest amount of EVs ever sold in a quarter in the U.S. According to forecasts from Cox and CarMax’s Edmunds, sales of EVs as well as plug-in hybrid electric vehicles - that also qualify for federal incentives - are also expected to assist in boosting third-quarter vehicle sales up between 4% and 7%. While the incentives expired as part of the Trump administration’s “One Big Beautiful Bill Act”, some automakers are trying to keep th

Motoring

Michelin lowers guidance amid lower North American sales

US new car prices top $50k as EV sales soar

Ferrari shares crash after shaving EV targets by 50%

Transurban sticks by payout as traffic increases

Tesla launches lower-cost models, but shares sink 4.5%

Aston Martin shares fall due to tariff uncertainties

Explainer: Why have Tesla shares rebounded?

Tesla posts record deliveries as US EV tax credit ends

Record EV sales deliver strong Q3 US sales for carmakers