After terming India’s import duty barriers high for some time, US President Donald Trump has expressed that 2 April 2025 will be remembered as the day the American industry was reborn as his government announced a broad new tariff policy that imposes at least a 10 percent duty on nearly all imports from certain countries. In the case of India, the policy speaks of 26 percent ‘discounted' reciprocal tariffs. The tariff on China, on the other hand, is 34 percent. 

Aimed at protecting American farmers and ranchers, according to Trump, the broad-based tariff policy is also being termed as ‘national emergency’ driven in view of the ongoing trade deficits, which hit a record USD 1.2 trillion in 2024.

The German auto industry has reacted to the US policy by stating that it 'will only create losers'. While the Asian stock markets have shrunk in response to the announcement, the Indian Ministry of Commerce is analysing the impact of the 26 percent ‘discounted’ tariff announcement. 
Mentioning in its statement that it understands the intent of the US administration to boost domestic manufacturing and address trade imbalances, the Indian auto components apex body ACMA (Automotive Component Manufacturers Association of India) has said that autos and auto parts as well as steel and aluminium articles are already subject to Section 232 tariffs at 25 percent announced earlier by the US President’s order on 26 March 2025. A detailed list of auto components that will be subject to 25 percent import tariff is awaited, it mentioned.

Shraddha Suri Marwah, President, ACMA and CMD, Subros Ltd, averred, “ACMA remains hopeful that the ongoing bilateral negotiations between the Indian and U.S. governments will lead to a balanced resolution that benefits both economies. We believe that the strong trade relationship between India and the United States, especially in the auto components sector, will encourage continued dialogue to mitigate the impacts of these measures. ACMA is committed to engaging with all stakeholders to ensure the long-term interests of the Indian auto component industry.”

Saurabh Agarwal, Partner and Automotive Tax Leader, EY India, observed, "With US automotive tariffs rising, India's electric vehicle sector has a prime opportunity to capture a larger share of the US market, especially in the budget car segment.” He drew attention to the fact that China's 2023 auto and component exports to the US stood at US$17.99 billion whereas India's were only US$2.1 billion in 2024, highlighting the potential for growth. “To accelerate this, the government should enhance the PLI scheme by including more auto components, opening it to new players, and extending it by two years,” he added. 

Mrunmayee Jogalekar, Auto and FMCG Research Analyst, Asit C Mehta Investment Interrmediates Ltd, expressed, “Certain sectors such as auto and auto ancillary, which are already subject to a separate 25 percent tariff announced in March are exempt to the levy of reciprocal tariffs. This means no additional tariffs will be imposed on this sector.”
Stating that other exempted segments include copper, pharmaceuticals, semiconductors, critical minerals and energy products, she informed,

“Since import duties apply to all trading partners, the extent of impact will vary across sectors and countries based on competitive advantages.” “For the Indian auto component industry, which derives around 30 percent of its revenue from exports, with 30 percent of that coming from the US, this could result in a potential hit on sales or profit margins,” she added. 

In FY2024, ACMA reported that India exported USS$ 6.79 billion worth of auto components to the US. It imported only USS 1.4 billion, resulting in a substantial trade surplus in India's favour. 

Against the backdrop of the broader tariff policy that speaks of a 26 percent duty of Indian exports to US, the discussion between Indian and the US regarding the bilateral trade agreement will assume importance as well as urgency. For US automotive companies to find their way to the Indian market despite their near cult status – the likes of Harley Davidson and Tesla – will only mean facing a competition that is stiffer than expected and a customer mindset that is far different from how it is in the US. 

Srikumar Krishnamurthy, Senior Vice-President & Co-Group Head, Corporate Ratings, ICRA, said, "The US Government has imposed a 25 percent tariff on passenger vehicles (sedans, sport utility vehicles, crossover utility vehicles, minivans and cargo vans) and light trucks (collectively referred to as automobiles), which come into effect from 3 April  2025. As the PV exports from India to the USA represent less than 1 percent of the total PV exports, the tariff imposition of the tariff does not have any material impact on the Automotive OEMs. The scenario is however different for auto components. On 12 March 2025, a 25 percent tariff was imposed on all aluminium and steel components being imported into the US. Subsequent to this, on 26 March 2025, a 25 percent tariff was imposed on other key auto parts as well (including engines, transmissions, powertrain components and key electrical parts except those under USMCA), with processes to expand tariffs on additional parts, if necessary. The effective date is pending but is expected to be no later than 3 May 2025. Auto components have not featured in the latest set of additional tariff announcements that has been made on 2 April 2025. India’s auto components exports accounted for around 29 percent of industry revenues in FY2024. Of this, about 27 percent went to the US. While the situation is evolving, the recent tariff related development and the consequent inflationary pressures and slowdown in demand in the US could have a negative impact on revenue and earnings for component exporters (in the affected product categories) over the next few months. Nevertheless, with higher tariffs being levied on other competing nations, this could also create long-term opportunities for the exporters. Exporters dependent on the US are also trying to diversify their revenue base across other geographies (including Asia). Measures to improve value addition, diversification into non-auto segments and cost-optimisation strategies are also being worked upon to reduce the potential impact on margins.

Image for representative purpose only.

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French auto major Renault Group has placed a EUR 750 million bond issue maturing on 19 February 2032 with a coupon of 5 percent.

The bond was oversubscribed, reflecting investor confidence in Renault Group's financial profile following its return to investment-grade status at S&P Global Ratings and Moody's, as well as the execution of its futuREady strategic plan.

The capital raised will fund corporate purposes, including the refinancing of upcoming debt maturities to take advantage of market conditions.

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Bentley Motors has revealed two specially commissioned vehicles, a Bentayga Extended Wheelbase Artenara and a Supersports, to commemorate Remembrance Day in the United Kingdom. Known among colleagues as ‘our Poppy Cars’, the vehicles have become a potent symbol of remembrance throughout the organisation, playing a central role in commemorative activities that included an onsite service in Crewe, participation in Mission Motorsport’s Race of Remembrance at the Anglesey circuit and a return to Crewe where colleagues gathered.

The 2026 Remembrance cars were created by Bentley’s design team alongside the colleague-led BeReady network, drawing inspiration from John McCrae’s iconic poem In Flanders Fields. Rather than a simple reflection on loss, the poem is treated as a message from the fallen to the living, reminding future generations of the sacrifices made in defence of freedom and the responsibility to carry that legacy forward.

The bespoke exterior artwork explores peace amidst destruction, reflection from the fallen and a challenge to the living, using poppies and symbolic imagery to convey both the tragedy of loss and the resilience of hope. Poppies blooming across a battlefield and larks soaring overhead symbolise life enduring through adversity, while the central artwork honours those who made the ultimate sacrifice, remembering them not as distant heroes but as ordinary people who loved and were loved. The design traces a journey from resilience and hope to remembrance and responsibility, concluding with a call for future generations to remember the fallen, uphold the values they defended and carry their legacy forward.

Beyond this project, colleagues from Bentley’s manufacturing team crocheted handmade poppies to raise funds for the Royal British Legion. The initiative holds particular meaning for the BeReady network, one of five Diversity, Equity, Inclusion and Belonging networks providing a supportive space for veterans, acting reservists and their families, and serves as an annual tribute to the 17 colleagues who lost their lives building the Merlin Aero Engine when a bomb fell over Crewe 86 years ago.   

Robin Page, Director of Design at Bentley Motors, said, “Design is often judged by what it looks like, but its greatest value lies in how it makes us feel. These cars were created to inspire reflection, serving as a visible reminder that remembrance is not confined to a single day, but is a legacy that must be carried forward and shared by each generation.”

Chris Cole, Bentley’s Product Line Director, said, “The Remembrance vehicles demonstrate how craftsmanship can be used to tell stories that matter. Every detail has been thoughtfully created to honour those who served, creating a lasting symbol of remembrance, respect and appreciation. Unveiled in the same year that Bentley was awarded Gold Employer Recognition Scheme (ERS) status, the highest recognition available to employers supporting the Armed Forces community, the vehicles underscore the company's enduring commitment to veterans, reservists, serving personnel and their families.”

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The Indian automotive industry witnessed one of its strongest wholesale monthly performances in October 2026, with a total of 3.2 million vehicles sold across categories, which marks a 16 percent YoY growth, as compared to 2.76 million units sold last year.

The passenger vehicle segment crossed the 500,000-unit mark, witnessing its strongest performance for October to date with a total of 519,060 units sold, as compared to 461,614 units sold last year.

Three-wheeler sales at 103,349 units saw a 26 percent YoY jump, as compared to 82,190 units sold a year ago.

The two-wheeler industry saw a total of 2.57 million units sold, with scooter sales witnessing a robust 32 percent YoY growth at 1.09 million units, as compared to 833,621 units sold a year ago. Motorcycle sales grew by 7 percent YoY to 1.42 million units, as compared to 1.33 million units sold last year.

Rajesh Menon, Director General, Society of Indian Automobile Manufacturers (SIAM), said, “The Indian automobile industry continues to witness healthy demand momentum. In the two-wheeler segment, demand continues to be supported by improved credit availability and replacement demand, across both rural and urban markets. For three-wheelers, last-mile mobility requirements and rapid electrification remain strong structural drivers. Overall, the demand outlook remains positive.”

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BendPak Inc. unveiled the Valor C10, its first custom-built vehicle, at the 2026 SEMA Show. The handcrafted 1970 Chevrolet C10 pickup honours the sacrifice, courage and commitment of the US Armed Forces. Its debut coincided with Veterans Day, lending the salute added poignancy for the company and its staff.

The truck fuses contemporary performance with enduring design, reflecting the American strength, ingenuity and resilience shared by BendPak and the military. Nostalgia Hot Rods, under Dustin Hacker's direction, handled the build, starting with a vintage C10 and retaining little beyond a heavily modified cab. The body-dropped pickup keeps over 4.5 inches of usable ground clearance despite its slammed stance, thanks to Hacker's chassis work. Metallic blue paint with red accents – a body stripe, brake callipers and engine – echoes the US flag, blue for vigilance, perseverance and justice, red for hardiness, sacrifice and the valour behind the truck's name.

BendPak's creative team designed custom Valor C10 badges for both doors, and the cabin pairs a classic bench seat in two-tone gray Alcantara with blue stitching against bespoke door panels and headliner. Power comes from a BTR Gen V Stage 2 supercharged camshaft, a custom 3.5-inch aluminium driveshaft, MagnaFlow 3-inch mufflers and a Holley Terminator X Max engine management system. A Gearstar GM 6L80E six-speed automatic, a custom Eddie Motorsports serpentine system, a Speedtech Extreme G chassis and QA1 four-way adjustable coilovers with cantilever rear suspension complete the mechanical package, alongside Forgeline custom wheels, JL Audio C7 components, a Kenwood 6.8-inch head unit, a PCS electronic gear shift module with wireless paddle shifter, Dapper Lighting custom headlights and taillights in billet housings,and Nu-Relics power windows.

Military service runs deep at BendPak. Founder Don Henthorn, a US Army veteran, started the company in 1965. President and CEO Jeff Kritzer served three years on active duty as a US Air Force C-130 loadmaster before joining the Air National Guard, preserving his flight status and loadmaster duties while launching his BendPak career – a taxing dual role he upheld for three years. He is the son of a senior master sergeant and fellow loadmaster devoted to military service, and his son Devin served with distinction in the US Army, including deployments to the Gulf region and Bangladesh.

Kritzer said, “We call this build the Valor C10 – it was created to honour the brave men and women who have served and continue to serve in our armed forces, especially those who gave their lives in defence of our nation. BendPak proudly supports the military community. This serves as our way of saying thank you and reminding everyone that freedom isn’t free.”

Sean Price, Director of Product Development, BendPak, said, “We’ve worked with Dustin for several years, supplying his shops with BendPak lifts and equipment, as well as showcasing many of his amazing builds in our SEMA Show booths. We knew he had the passion and craftsmanship to bring our vision for the Valor C10 to life.”

Hacker said, “Most of the sheet metal is custom-fabricated, including the roof, hood, drip rails, floors, bumpers, engine bay and bed. Under the hood, there’s a 376-cubic-inch V8 with a 2.9-litre Whipple supercharger. This thing will make 750 horsepower and drive like a dream.”

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