World Events
Tariffs Reshape the Year’s Biggest Automotive Story
As 2025 came to a close, industry analysts named the year’s sweeping US tariffs on vehicles and parts as the single most influential development affecting global automakers.
Rare Earth Magnet Shortage Threatens Global Vehicle Production
Automakers around the world raised alarm over a growing shortage of rare earth magnets following new Chinese export restrictions, warning that the disruption could halt production of critical components.
Trump Administration Imposes 25% Tariffs on Imported Vehicles and Parts
The United States implemented sweeping 25% tariffs on imported passenger vehicles and light trucks, along with related tariffs on key automotive parts such as engines and transmissions, in a move aimed at strengthening domestic manufacturing.
Volkswagen Group Global Deliveries Fall for the Year
Volkswagen Group reported a 2.3% drop in global vehicle deliveries for 2024, falling to just over 9 million units, as weakness in China outweighed gains in North and South America.
Europe Will Need 35,000 Public Megawatt Chargers for Electric Trucks by 2030
Europe’s truck industry is facing a critical challenge: achieving a 45% reduction in CO2 emissions for heavy-duty vehicles by 2030 will require infrastructure to expand rapidly.
Volkswagen’s China Sales Slump Amid Fierce EV Price War
Volkswagen reported a steep decline in Chinese sales during 2024, as domestic EV manufacturers, led by BYD, intensified an aggressive price war that squeezed profit margins across the industry.
Semiconductor Shortage Finally Eases for Automakers
After roughly two years of production disruptions, the global semiconductor shortage that hit the automotive industry beginning in 2021 showed clear signs of easing in the first half of 2023, according to analysis from S&P Global Mobility.
Toyota Recalls New bZ4X Electric SUV Over Wheel Detachment Risk
Toyota issued a global recall of its newly launched bZ4X electric crossover, just two months after its release, after discovering that hub bolts could loosen and allow a wheel to detach while driving.
Chip Shortage Costs Global Automakers Over $200 Billion
The global semiconductor shortage, which began disrupting production in early 2021, cost the automotive industry more than $200 billion in lost revenue for the year, with roughly 11 million fewer vehicles built worldwide than planned.