Volkswagen-Ford

Now, Volkswagen's move on January 29 to sue India for $1.4 billion in tax that the firm called "impossibly enormous" is making foreign companies jittery

Volkswagen's plant in Osnabrueck, which employs around 2,300 staff, manufactures Porsche's Cayman and Boxster models as well as Volkswagen's T-Roc Cabriolet

Rival German automakers Volkswagen and Mercedes-Benz are also struggling with falling sales in China amid a weak economy and intense competition

Other German automakers are feeling the pain too, with Mercedes-Benz and BMW cutting their profit forecasts in recent weeks due to weak demand in China

Tata Motors on Sunday said it will hike prices of its commercial vehicles by up to 3 per cent from January 1, 2024, to offset the residual impact of the past input costs. The increase will be applicable across the range of commercial vehicles, Tata Motors said in a statement. Passenger vehicle makers such as Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda and Audi have also announced plans to increase vehicle prices in January.

According to TechCrunch, the layoffs account for about 5 per cent of its more than 2,000 global workforces, according to sources familiar with the company's actions

Volkswagen sold more vehicles than any other carmaker in the world last year

Wall Street was hoping for a blockbuster deal, such as the billions of dollars General Motors Co. landed for its self-driving unit from Honda and SoftBank Vision Fund last year