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Mercedes, Porsche, BMW stocks defy market downturn despite disruptions

Teslarati

The stocks of German luxury automakers, including Mercedes, Porsche, and BMW, have remained strong in recent months despite numerous disruptions. But simultaneously, luxury German automakers have mysteriously not seen the same rapid declines in stock prices, some (Porsche) even increasing in value over the same timeframe.

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Hyundai Motor Group bolsters partnership with Rimac on high-performance EVs and fuel cell prototypes across brands

Green Car Congress

Hyundai Group joined its partner Rimac Automobili in an event hosted by Rimac CEO Mate Rimac and attended by Croatian Prime Minister, ministers, and senior government officials to discuss the potential of the new auto industry in Croatia. Global automotive producers have shifted production towards CEE countries from Western Europe.

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European Auto Industry Expresses Concern Over Iron Ore Price Hikes

Green Car Congress

Such “ excessive and unpredictable ” pricing policy would affect the competitiveness of manufacturing in Europe, including the automotive industry, according to a statement from ACEA, the European auto industry’s trade association.

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Volkswagen Group launches trade-in incentive for Euro 1 - Euro 4 diesels; pan-European software update for Euro 5 and some Euro 6 diesels

Green Car Congress

In addition, the software update for Euro 5 and some Euro 6 diesel vehicles will be available throughout Europe and not just in Germany. The incentive is currently being prepared by the Group’s Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Porsche and Volkswagen Commercial vehicles brands and will be on offer soon.

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17.7% of Porsche USA Sales Electric, 4.8% of Volkswagen USA Sales Electric — Crushing BMW, Ford, Nissan, & Chevrolet Figures

CleanTechnica EVs

The unfortunate thing for those of us who would like to see Europe-level EV sales as quickly as possible is that non-Tesla EV sales in the US are quite pitiful. I wrote a piece last week on US electric vehicle sales in the 2nd quarter of 2021. Of course, some pure-Tesla fans are happy about […].

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Tesla gets new neighbor as Germany’s IG Metall union builds office near Giga Berlin

Teslarati

IG Metall is the dominant metalworkers’ union in Germany, making it the country’s largest union and Europe’s largest industrial union. With over two million members today, IG Metall currently represents workers from some of the auto industry’s biggest players, such as Daimler, Porsche, BMW, Audi, and Volkswagen.

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Volkswagen faces mounting pressure from Tesla and BYD

Teslarati

Credit: Bloomberg Now, as the presence of Chinese automakers and Tesla grows in Europe, Volkswagen is being tested by fierce competition, and the automaker risks severe consequences to the German economy, which is Europe’s largest economy. automaker’s lineup-wide price cuts made throughout this year.

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