Volkswagen is cutting US EV output and slashing costs by 2028 as the auto industry shifts away from electric cars amid market chaos.
Bentley and Aston Martin are reducing their workforces by around 6-20% due to declining profits and challenging global market conditions. Bentley plans to cut 150 jobs following a 42% profit fall, while Aston Martin aims to cut nearly 600 jobs to address losses. Both companies face pressures from US tariffs, weaker demand in China, and strategic shifts away from electric vehicles.
As of April 2026, Tesla's Q1 vehicle deliveries fell 4% below analyst expectations, with a record inventory buildup signaling demand challenges. Volkswagen will cease US production of its ID.4 electric SUV, shifting focus to higher-volume models amid weak EV sales. Meanwhile, Australian demand for used EVs surges due to rising fuel prices, and Toyota plans to expand its US EV lineup despite recent market setbacks.