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Dock workers across the East and Gulf Coasts of the U.S. began a strike on October 1, 2024, potentially disrupting vehicle imports. While immediate impacts may be limited due to existing inventory, European automakers could face significant challenges. Meanwhile, the electric vehicle market in Europe continues to struggle amid declining registrations and job cuts at Northvolt.
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Hyundai has commenced production of its Ioniq 5 EV in Georgia, ahead of schedule, while Toyota has delayed its EV rollout in the U.S. amid declining demand. Tesla has discontinued its cheapest Model 3 variant, reflecting market pressures. Ford is addressing charging concerns with a new incentive program for EV buyers.
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Stellantis is grappling with declining sales and pressure from U.S. dealers and unions. The company has issued a profit warning, anticipating a negative cash flow of up to €10 billion. Labor strikes and inventory issues further complicate its recovery efforts as CEO Carlos Tavares's future remains uncertain.
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Bridgestone announced it will not renew its Olympic sponsorship contract, expiring at the end of 2024. This follows similar decisions by Panasonic and Toyota, reflecting a shift in corporate priorities amid rising political concerns and past controversies surrounding the Games.