Latest

Japan's Honda and Nissan scrap merger talks
Japan's Honda and Nissan scrap merger talks

Japanese auto giants Honda and Nissan confirmed on Thursday they had scrapped merger talks that would have created the world's third-largest automaker by unit sales. The cancellation of the merger talks would have no impact on the earnings of both automakers, it said.

German sports carmaker Porsche to cut 1,900 jobs
German sports carmaker Porsche to cut 1,900 jobs

Sports car manufacturer Porsche said Thursday it will axe 1,900 jobs after sales slumped in China and amid a tricky shift to electric vehicles, the latest blow for Germany's stalling auto sector. Hit by high manufacturing costs at home, weak demand, fierce competition and a sluggish shift to EVs, Germany's flagship auto sector is battling a growing crisis.