industry

A peek under the hood of the global automotive industry.

Honda Bets on QuantumScape Solid-State Batteries to Reset EV Strategy After Financial Loss
Honda has taken a decisive step toward reshaping its electric vehicle future by partnering with American battery developer QuantumScape to advance solid-state battery technology. Announced in June 2026, the collaboration comes at a critical juncture: just months after Honda canceled the North American launches of the Honda 0 SUV, Honda 0 Saloon, and Acura RSX, moves that contributed to the company’s first annual financial loss in nearly 75 years. This strategic reset signals a clear shift away from competing directly in today’s saturated lithium-ion EV market and toward betting on next-generation batteries as the foundation for long-term viability and carbon neutrality by 2050.
By Mark Lim 3 months ago in Wheel
Honda Posts Record Q1 Profit as Hybrid Pivot Offsets EV Losses, Though China Slump Looms
Honda Motor Co. has delivered its most financially robust quarter in corporate history, reporting first-quarter FY2027 operating profit of ¥530.7 billion ($3.36 billion), a staggering 117% year-over-year increase, and record sales revenue of ¥6 trillion ($38.46 billion) , up 13.5%. The results, announced Wednesday, mark a dramatic reversal from the EV-related losses that plagued the automaker just a year ago and validate its aggressive strategic pivot toward hybrid electrification and operational discipline. Yet beneath the headline triumph lies a complex and uneven reality: while North America thrives and EV bleeding has stopped, Honda’s core Asian markets are in freefall, and external geopolitical shocks threaten to unravel hard-won gains. The company’s cautious maintenance of full-year guidance, despite upward profit revisions, reflects this tension between near-term execution success and long-term structural vulnerability.
By Mark Lim 3 months ago in Wheel
Unifor’s Lana Payne on Ford Deal, Trade Turmoil, and the Long Game for Canadian Auto Workers
Lana Payne, National President of Unifor, is cautiously optimistic that the union’s newly ratified three-year agreement with Ford Motor Co. will set a durable precedent as negotiations shift toward General Motors and Stellantis. Speaking exclusively with WardsAuto following the July 19 ratification vote—where 74% of Ford members approved the deal , up sharply from 54% in 2023—Payne framed the agreement not just as a wage and investment win, but as a strategic anchor in an era of profound uncertainty. “It’s a comprehensive deal,” she said. “If someone had said we could achieve all of this three months ago, I wouldn’t have foretold it.” Yet she was quick to temper triumphalism with realism: “We are not in good times or even normal times.”
By Mark Lim 3 months ago in Wheel
Toyota Rebounds with Record Q1 Profit as Hybrid Surge and Yen Weakness Offset Global Headwinds
Toyota Motor Co. has delivered a commanding financial rebound in the first quarter of fiscal year 2027, reporting net income of ¥1.48 trillion ($9.3 billion), a 76% year-over-year increase, on consolidated sales revenue of ¥13 trillion . The results mark a dramatic reversal from the same period last year, when U.S. tariffs had erased all profits despite record revenue. Buoyed by a weaker yen, resilient North American demand, and surging hybrid sales, Toyota not only restored profitability but also raised its full-year net income forecast to ¥3.25 trillion and authorized a massive share repurchase program of up to ¥1 trillion , signaling confidence in sustained cash generation amid industry volatility.
By Mark Lim 3 months ago in Wheel
Volvo Cars Posts Mixed Q3 Results: Global Sales Dip 4% as U.S. Rebounds and Electrified Models Cross 50% Threshold
Volvo Cars reported global vehicle sales of 164,663 units for the three-month period ending July 31, 2026, a 4% year-over-year decline reflecting divergent regional dynamics and an accelerating powertrain transition. While overall volume contracted, the underlying composition of sales reveals a company successfully navigating industry headwinds through electrification leadership and strategic market focus. Most notably, electrified vehicles (BEVs and PHEVs) accounted for 53% of total sales , with combined volumes rising 15% to 87,464 units . This milestone underscores Volvo’s progress toward its full-electric ambition, even as legacy internal combustion engine (ICE) and mild-hybrid sales fell 19% YoY to 77,199 units , dropping more than 10,000 units below electrified model volumes.
By Mark Lim 3 months ago in Wheel
Malaysia's Automotive Crossroads: Revamping the New Customised Incentive Mechanism for a Sustainable Future
The Malaysian government is undertaking a significant overhaul of the New Customised Incentive Mechanism (NCM) for the automotive industry, with plans to implement the revamped framework next year following extensive consultations with relevant ministries, agencies, and industry players. This reform, spearheaded by the Ministry of Investment, Trade and Industry (MITI), represents a fundamental shift in how Malaysia approaches automotive policy, moving beyond assembly to embrace true manufacturing and technological development.
By Mark Lim 3 months ago in Wheel
Lucid Group Executes Sweeping Operational Reset: $1.4B Cost Cuts, Cosmos Delayed to 2027, and Leadership Overhaul Amid Profitability Push
Lucid Group has initiated a comprehensive “operating reset” aimed at securing its long-term viability, announcing during its second-quarter financial update a $1.4 billion cash flow improvement plan designed to accelerate its path to profitability. With $3.0 billion in total liquidity and a runway extending “well into 2027,” the company is using this fiscal buffer not to double down on growth-at-all-costs, but to fundamentally restructure its operations, leadership, and product timeline. The reset comes as Lucid confronts uncomfortable truths about its past performance: inconsistent execution, underinvestment in service, slow response to quality issues, and an ownership experience that has fallen short of expectations. CEO Silvio Napoli framed the moment as a return to discipline, stating plainly, “We expect to be judged by the results.”
By Mark Lim 3 months ago in Wheel
Building Resilience in ASEAN Automotive Supply Chains: Strategic Buffers, Localisation, and Collaborative Partnerships Amid Geopolitical Disruption
As geopolitical volatility and operational unpredictability continue to define the global automotive landscape in 2026, supply chain leaders in the ASEAN region are redefining what resilience truly means. During Automotive Logistics’ recent ASEAN livestream, executives from Schaeffler and Bridgestone Asia Pacific articulated a clear consensus: long-term stability is no longer achieved through lean efficiency alone, but through deliberate redundancy, strategic localisation, and trust-based partnerships. With disruptions like the ongoing conflict in the Middle East and the resulting de facto closure of the Strait of Hormuz forcing widespread rerouting via the Cape of Good Hope as “the new default,” companies must embed adaptability into their core operating models.
By Mark Lim 3 months ago in Wheel
Ford Reboots EV Strategy with $29,945 F-150 Lightning: A New Benchmark for Affordable Electric Utility
Ford is executing a decisive reset of its electric vehicle strategy with the unveiling of the Fathom, the first model built on its newly developed Universal Electric Vehicle Platform (UEV). Positioned as a direct response to growing consumer demand for affordable, practical EVs, the Fathom will launch with a starting price of $29,945, including destination, a figure that not only meets but slightly undercuts Ford’s previously teased $30,000 target. Equipped with a standard-range battery delivering an estimated 300 miles of range , the Fathom immediately establishes itself as a formidable competitor in the emerging budget-friendly electric truck category, particularly against the upcoming Slate Truck, which starts at $26,400 but offers only 205 miles of range. This combination of price and range positions Ford to capture buyers who have been priced out of premium EVs yet remain skeptical of limited-utility alternatives.
By Mark Lim 3 months ago in Wheel
Beyond Tariffs: Why China’s Auto Ambitions Are a National Security Imperative, Not Just Industrial Policy
The recent Wall Street Journal editorial “Republicans Go for a UAW Ride” (July 27) mischaracterizes the stakes of the Connected Vehicle Security Act by framing it as protectionism for Detroit automakers. This interpretation fundamentally misreads the nature of China’s automotive ambitions. Chinese electric vehicle (EV) manufacturers are not entering global markets as conventional commercial actors responding to market signals; they are instruments of a state-directed industrial strategy designed to secure technological supremacy, control critical infrastructure, and reshape global security architectures in Beijing’s favor. To treat this as mere trade competition is to ignore the fusion of economic, technological, and geopolitical objectives that defines China’s approach.
By Mark Lim 3 months ago in Wheel
China’s Car Rental Industry Accelerates Green and Smart Transformation as NEVs Reshape Mobility Ecosystems. AI-Generated.
China’s car rental sector is undergoing a profound structural transformation, driven by the rapid ascent of new energy vehicles (NEVs) and the growing consumer demand for intelligent mobility. With NEV penetration in domestic passenger vehicle retail sales forecast to hit a record 64.5% in July 2026, accounting for 980,000 of an estimated 1.52 million units sold, the rental industry is no longer merely adapting to this shift; it is actively accelerating it. Leading providers like CAR Inc., eHi Car Services, and Trip.com Car Rental are aggressively restructuring their fleets, integrating smart technologies into user interfaces, and redefining their business models around sustainability, intelligence, and end-to-end service ecosystems. This evolution marks a decisive break from traditional price-driven competition toward a new paradigm centered on technological differentiation and holistic travel experiences.
By Mark Lim 3 months ago in Wheel
From Assembly to Manufacturing: Egypt's Audacious Plan to Become a Regional Automotive Powerhouse
Egypt's Minister of Industry, Khaled Hashem, has discussed executive steps to increase local content in the automotive industry and manufacture vehicle bodies entirely in Egypt during an expanded meeting with the Presidential Advisory Council of Egyptian Scientists and representatives of automotive manufacturers and component suppliers. The meeting, which brought together key stakeholders from across the automotive value chain, marked a significant milestone in Egypt's long-standing ambition to transform from a vehicle assembly hub into a true automotive manufacturing nation.
By Mark Lim 3 months ago in Wheel