forecasts are that the current energy price shock will ease markedly beyond the next few months, with oil prices well below $100 per barrel for Q2 and finishing the year not far off levels seen before the crisis began. That would still impact CPI on a global basis, though the overall drag on global GDP growth would likely be of the order of 0.1-0.2 percentage points (pp). Recent comments by President Trump have also suggested that a de-escalation...

News  Updated at: 2026/03/26

eting included a workshop where JAMA specialists shared case studies and global automotive technology trends with Thai patent examiners to support the development of examination practices in line with international standards. DIP noted that the automotive sector contributes about 9% of Thailand’s GDP and highlighted initiatives to support innovation, including the Target Design Patent Fast-Track program for automotive parts, which allows design...

News  Updated at: 2026/03/10

t and public support schemes. These will apply to selected strategic sectors, notably in steel, cement, aluminium, cars, and net-zero technologies, while establishing a framework that can be extended to other energy-intensive sectors such as chemicals. In 2024, manufacturing represented 14.3% of EU GDP. The Act sets a goal to increase manufacturing's share of EU GDP to 20% by 2035. The IAA introduces ‘Made in EU' and low-carbon preferences in p...

News  Updated at: 2026/03/05

Volkswagen and Stellantis’ CEO give suggestions to strengthen Europe’s automotive industry On February 5, Volkswagen Group CEO and Stellantis CEO wrote a joint open letter with ideas to make Europe’s car industry stronger. Their ideas support the EU’s “Made in Europe” plan by EU Commissioner for Industry. The European car industry generates 8% of European GDP annually and employs 13 million people. Volkswagen and Stellantis produce ni...

News  Updated at: 2026/02/06

population, reducing demand in child-related sectors such as kindergartens, primary schools, and children’s food products Ongoing border tensions Reports of cross-border scams raising safety concerns, potentially curbing foreign tourism Cautious bank lending due to household debt exceeding 80% of GDP, weighing on vehicle sales A contraction in full-year 2025 industrial production, constraining investment and employment, reducing household incom...

News  Updated at: 2026/01/29

through high-tech products and greater market competition with support for domestic automotive manufacturing and exports. The FTA is expected to enhance India's automotive sector's integration into global value chains and position Indian automakers to access the EU market, comprising 25% of global GDP. The agreement includes provisions for regulatory cooperation and streamlined customs procedures, which will facilitate cross-border automotive tr...

News  Updated at: 2026/01/27

, Arizona. Since 2018, Saudi’s Public Investment Fund (PIF), Lucid’s largest shareholder, has invested over USD 8 billion to assist in construction and operation of the new facility.  As part of its Vision 2030 economic plan, Saudi Arabia plans to reduce its reliance on oil by boosting non-oil GDP. It is establishing an auto export hub on the Red Sea by attracting brands like Lucid and Hyundai with tax exemptions and a 0% customs duties for ...

News  Updated at: 2026/01/27

MAA, December sales surged significantly, setting a new record high, driven by year-end shopping season demand and a rush to purchase before the expiration of tax incentives for imported electric vehicles. In 2026, sales are forecast to decline to 790,000 units, reflecting factors such as moderate GDP growth and global trade uncertainties and persistent inflationary pressures. (Malaysian Automotive Association (MAA)'s press release and multiples...

News  Updated at: 2026/01/21

ar plan. The governments should provide consistent purchase incentives and expand charging infrastructure beyond cities to rural areas. To support the working economy, commercial vehicles used by small businesses should not be unfairly penalized, as these businesses generate over half of Europe’s GDP. Based on Ford Europe press release...

News  Updated at: 2025/12/09

, and ecosystem growth. The partnership aims to make Abu Dhabi a hub for smart and sustainable mobility, with plans to expand cooperation across the Middle East. Additionally, the arrival of DiDi Autonomous Driving further enhances the SAVI cluster, which is projected to contribute to Abu Dhabi’s GDP and create up to 40,000 jobs by 2045. Based on Abu Dhabi Media office press release...

News  Updated at: 2025/11/13

r a significant portion of the total trade in goods and services of over EUR 153 billion in 2024 between the EU and the Mercosur region, as well as the approximately EUR 380 billion of mutual investment in the two regions in 2023. By 2040, the agreement is expected to add EUR 77.6 billion to the EU GDP and EUR 9.4 billion to the Mercosur GDP.  Based on ACEA press release ...

News  Updated at: 2025/10/13

Canadian economy shrinks 1.6% in Q2 as U.S. tariffs hurt exports On August 29, Statistics Canada announced that Canada's economy shrank much more than expected in Q2 as U.S. tariffs squeezed exports, but higher household and government spending softened the blow somewhat. The GDP for the quarter that ended June 30 slowed by 1.6% on an annualized basis, while Q1 growth was downwardly revised to 2.0%, the agency said. Exports were mainly responsibl...

News  Updated at: 2025/09/05

ssing the USD 89.45 billion that was forecast. Imports of goods jumped USD 18.6 billion to USD 281.5 billion, while goods exports dipped USD 0.1 billion to USD 178.0 billion. An ebb in import flows in Q2 led to a sharp contraction in the trade deficit, which added a record 4.95 percentage points to GDP growth that period, when the U.S. economy grew at a 3.3% annualized rate. GDP had previously contracted at a 0.5% rate in the January-March quarte...

News  Updated at: 2025/08/30

s. On trade, MSIL welcomed India’s free trade agreement with the UK, calling it a template for future pacts to support exports and production growth. MSIL highlighted continued weak growth in India’s car market, citing stricter emission and safety norms, including BS 6. Despite India’s strong GDP growth, car ownership remains low. It noted that this muted growth is happening as the small car segment, a historical industry driver, continues ...

News  Updated at: 2025/08/06

hospitals, medical colleges, shopping complexes, hypermarkets, warehouses, office spaces, community centres, banks, and financial institutions. The 335-acre project is set to attract around USD 10 billion in investment and, once operational, is expected to contribute USD 5-6 billion to the UAE’s GDP while generating approximately 4,000 jobs in Ras Al Khaimah Economic Zone (RAKEZ). Based on Erisha Smart Manufacturing Hub- RAKEZ's social media ...

News  Updated at: 2025/08/06

domino effect. This strategic engagement forms part of the Indonesian government’s ongoing efforts to strengthen industrial diplomacy, promote a favorable investment climate, and safeguard the sustainability and global competitiveness of the automotive industry, a key contributor to Indonesia’s GDP and manufacturing exports. (From Indonesia's Ministry of Industry social media updates)...

News  Updated at: 2025/07/15

nties, and outcomes of negotiations on trade tariffs imposed by the U.S. that have an adverse impact on the overall local economy are expected to weigh on Malaysia’s economic growth and have an adverse impact on the broader automotive market. While the Philippine market continues to post moderate GDP gains, the overall automotive sector faces slower momentum due to inflationary pressures, subdued global demand, and intensified competition from ...

News  Updated at: 2025/06/18

division (Vehicles Assembly, Manufacturing, Distribution & After-Sales Services) dropped 1.5% to MYR 530.5 million. Looking ahead, Tan Chong remains focused on recovery amid global uncertainties and a projected decline in Malaysia’s auto market, supported by resilient domestic demand and positive GDP forecasts. Strong early sales of the Nissan Kicks e-POWER and the upcoming TQ Wuling Bingo EV reflect its EV push.  In Vietnam, GAC models, notab...

News  Updated at: 2025/05/26

Thai OIE reveals strategic industrial restructuring to address U.S. tariff threats Reported on May 26, 2025, Thailand’s Office of Industrial Economics (OIE) warned that new US tariffs could cut the country’s industrial exports by around THB 200 billion in 2025, slowing industrial GDP growth by over 1 percentage point.  To counter this, the OIE is accelerating the restructuring of 9 key sectors, including automotive, which plays a major role ...

News  Updated at: 2025/05/26

osystem. Backed by multi-billion-dirham investments from global industry leaders, the programme aims to transform Abu Dhabi into the region’s leading hub for smart automotive manufacturing, R&D, auctions, and luxury vehicles. The program is projected to contribute AED 100 billion to Abu Dhabi’s GDP by 2045, attract over AED 8 billion in FDI, and create 7,000 high-skilled jobs. The inclusion of advanced R&D and engineering centres, as well as ...

News  Updated at: 2025/05/26