Author: Matthew Collins

MUMBAI (Business Emerge/India): Mercedes-Benz India will revise the prices of its vehicles from January, with the company confirming a planned increase of up to 2 percent as it moves to manage higher input and logistics expenses. The announcement was issued on Friday, with the manufacturer stating that the upcoming adjustment was prompted by sustained cost pressure during the year. The company noted that currency fluctuations between the euro and the rupee have remained above the 100-rupee level for most of 2024, which has added to the operational burden. Senior management conveyed that the continued movement in foreign exchange rates has…

SHANGHAI (Business Emerge/Asia): Hongqi has set its sights on a broader global footprint as the Chinese automotive brand works to strengthen its position in overseas markets while advancing its portfolio of new-energy vehicles. The company is preparing for a substantial rise in deliveries after several years of sustained domestic momentum. The roadmap was detailed as executives highlighted the brand’s evolving strategy, which includes higher shipment volumes, new model launches and a wider presence across Europe, the Middle East and the Americas. The update follows a period in which Hongqi transitioned from a niche state-use manufacturer to a mass-market contender supported…

SYDNEY: (Business Emerge/Australia) Westpac’s annual meeting recorded a significant level of dissent over the reelection of non executive director Peter Nash, marking another instance of shareholder concern linked to his association with the Australian Securities Exchange. The bank confirmed that Nash secured the required support to remain on the board, although a large portion of votes opposed his return. The meeting took place on Thursday in Sydney, where shareholders reviewed board positions and raised questions about governance. Nash received slightly more than the minimum backing of fifty percent that is needed to retain a board seat. About two fifths of…

MEXICO CITY (Business Emerge Exclusive): Mexico has approved a significant increase in import tariffs, raising duties on vehicles from countries without trade agreements, including India, to 50 percent from the current 20 percent. The decision is expected to affect approximately $1 billion worth of Indian car exports, according to industry sources and documents reviewed by BusinessEmerge.com. The tariff adjustment was approved by Mexican authorities on Wednesday as part of a broader policy to protect domestic manufacturing and employment. The increase will apply to hundreds of products, with vehicles among the most affected categories. Industry sources noted that the decision follows…

PARIS: (Business Emerge Coverage): Ford and Renault have announced a new cooperation plan that will include developing compact electric vehicles and jointly producing commercial vans for the European market. The companies outlined the initiative on Tuesday, stating that the move is designed to manage rising cost pressures and respond to increasing competition from lower-priced models in the region. In discussions held in Paris a day earlier, Ford Chief Executive Jim Farley informed reporters that the global automotive landscape is undergoing rapid change, requiring manufacturers to adjust their strategies. Farley said the collaboration is positioned as part of Ford’s efforts to…