Volkswagen to keep vehicle prices steady through May
DETROIT, April 16 (Reuters) - Volkswagen (VOWG.DE), opens new tab confirmed Wednesday that it is joining the growing group of automakers committing to keeping prices steady to ease car shoppers' concerns around tariffs.
Automakers have provided stability, and even deep discounts, to consumers amid worries that tariffs will drive up prices on dealer lots. In a flurry of announcements earlier this month, U.S. and foreign-owned carmakers offered a variety of deals or price assurances, looking to capitalize on a surge of nervous shoppers hoping to clinch a deal.
German carmaker Volkswagen confirmed it is holding prices steady through May, a similar move to Hyundai Motor (005380.KS), opens new tab, which committed to maintaining sticker prices on its current models through June 2.
Ford Motor (F.N), opens new tab and Stellantis (STLAM.MI), opens new tab earlier this month offered shoppers deep discounts across their lineups, and Nissan (7201.T), opens new tab reduced prices on its 2025 Rogue and 2025 Pathfinder.
While the short-term buying frenzy is a boon to carmakers and their dealers, auto executives have warned that sustained tariffs will add excessive costs to the industry, and ultimately weigh on consumers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Car
2 hours ago
- Auto Car
Minicab-favourite VW Touran due comeback as radical EV
Smaller sibling to ID Buzz could drawn on retro concepts such as the 2011 Bulli and 2016 Budd-e Open gallery New EV will replace the Touran, plugging the gap between the Golf and ID Buzz The 2016 Budd-e concept is being revisited and could inspire the Touran replacement Close Volkswagen is weighing up the viability of an electric compact MPV to replace the Touran and offer a practical alternative to SUVs for family car buyers. The new model is said to be under internal review, with Volkswagen drawing inspiration from earlier concepts, including the 2016 Budd-e, which was based on an early version of the MEB platform that today underpins the brand's electric cars. Sources familiar with the project have told Autocar that Volkswagen recently retrieved various MPV concepts from storage to support internal discussions and presentations exploring how their design and packaging could be adapted for a new production model. The move reflects a broader shift in thinking inside Volkswagen's Wolfsburg headquarters in Germany, where there is renewed recognition that a dedicated family-focused MPV may still have commercial relevance, especially in the European and Chinese markets, amid a flood of SUV models. Although no production decision has been made, the new MPV would be positioned beneath the ID Buzz, offering a smaller footprint, a lighter weight and a more affordable price. These qualities have led to it being described as a modern-day Microbus (Type 2). The design direction of the new model remains under wraps, although it could be expected to take cues from concepts such as the 2011 Bulli and 2016 Budd-e, as well as production models such as the outgoing Mk2 Touran and 2014 Golf SV. Key considerations include an upright silhouette, short overhangs, a flat floor and a high roofline – all aimed at providing maximum interior space and the sort of overall versatility expected by potential customers, including German taxi fleets. The 2016 Budd-e concept measured 4597mm in length, some 70mm longer than the second-generation Touran and 124mm shorter than the standard-wheelbase ID Buzz. Insiders say new sliding door and seating concepts are being developed in a bid to provide the sort of modernity of potential rivals, including the recently introduced Zeekr Mix. While the existing ID Buzz targets 'premium lifestyle' buyers, the Microbus is reportedly aimed at families seeking a 'no-nonsense, high-utility electric vehicle with sliding rear doors and strong day-to-day usability'. Pressure to act has come not only from persistent Touran loyalists but also from a new generation of electric MPVs emerging out of China - particularly models like the Mix, which has attracted attention for its unique twin sliding doors and highly flexible interior. Launched in 2003, the Touran became a mainstay of Volkswagen's European line-up over two generations. Although overshadowed by SUVs in recent years, it remains one of the most successful European models of its type, with more than 2.6 million units sold globally. While it's still early days, the new MPV is expected to ride on a further developed version of Volkswagen's MEB+ platform or the newer SSP platform. It's likely to a choice of batteries in the 60–80kWh range and either single-motor front-wheel drive or optional dual-motor four-wheel drive. Should the new MPV get the green light, it could be launched by 2027 or 2028, potentially reviving the Touran badge in line with Volkswagen's plan to provide future EVs with traditional names instead of the ID numbers used today. Join our WhatsApp community and be the first to read about the latest news and reviews wowing the car world. Our community is the best, easiest and most direct place to tap into the minds of Autocar, and if you join you'll also be treated to unique WhatsApp content. You can leave at any time after joining - check our full privacy policy here. Next Prev In partnership with
Reuters
3 hours ago
- Reuters
Pakistan likely to hike defence spending but slash overall budget in 2025-26
ISLAMABAD, June 10 (Reuters) - Pakistan will unveil its annual federal budget for the coming fiscal year later on Tuesday, seeking to kickstart growth while finding resources for an expected hike in defence expenditure following the conflict with India last month. Islamabad will also have to contend with remaining within the discipline of its International Monetary Fund programme and the uncertainty from new trade tariffs being imposed by the United States, its biggest export market. Media reports say the government is likely to present a 17.6 trillion rupee ($62.45 billion) budget for the fiscal year beginning July 1, down 6.7% from this fiscal year. It has projected a fiscal deficit of 4.8% of GDP, against a targeted 5.9% deficit in 2024-25, the reports say. Analysts said they expect an increase of around 20% in the defence budget, likely offset by cuts in development spending. Pakistan allocated 2.1 trillion Pakistani rupees($7.45 billion) for defence in the outgoing fiscal year, including $2 billion for equipment and other assets. An additional 563 billion rupees ($1.99 billion) was set aside for military pensions, which are not counted within the official defence budget. India's defence spending in its 2025–26 (April-March) fiscal year was set at $78.7 billion, a 9.5% increase from the previous year, including pensions and $21 billion earmarked for equipment. It has indicated it will step up expenditure following the May conflict with Pakistan. The government of Pakistani Prime Minister Shehbaz Sharif has projected 4.2% economic growth in 2025-26, saying it has steadied the economy, which had looked at risk of defaulting on its debts as recently as 2023. Growth this fiscal year is likely to be 2.7%, against an initial target of 3.6% set in the budget last year. Pakistan's growth lags far behind the region. In 2024, South Asian countries grew by an average of 5.8% and 6.0% growth is expected in 2025, according to the Asian Development Bank. Expansion of the economy should be aided by a sharp drop in the cost of borrowing, the government says, after a succession of interest rate cuts by the central bank. But economists warn that monetary policy alone may not be enough, with fiscal constraints and IMF-mandated reforms still weighing on investment. Finance Minister Muhammad Aurangzeb said on Monday that he wanted to avoid Pakistan's boom and bust cycles of the past. 'The macroeconomic stability that we have achieved, we want to absolutely stay the course,' he said. 'This time around we are very, very clear that we do not want to squander the opportunity.' The budget is expected to prioritize expanding the tax base, enforcing agriculture income tax laws, and reducing government subsidies to industry, to meet the terms of a $7 billion IMF bailout signed last summer. Just 1.3% of the population paid income tax in 2024, according to the tax authorities, with agriculture and the retail sector largely outside of the tax net. The IMF has urged Pakistan to widen the tax base through reforms which include taxing agriculture, retail, and real estate. Ahmad Mobeen, senior economist at S&P Global Market Intelligence, said that he expected the revenue target for 2025-26 will be missed. 'The shortfall will mostly be owing to lack of optimal implementation of announced measures as well as absence of meaningful structural reforms to widen the tax net in general,' said Mobeen. ($1 = 281.8400 Pakistani rupees)
Daily Mirror
3 hours ago
- Daily Mirror
5 Liverpool stars at risk of exit once Florian Wirtz and Milos Kerkez arrive
Florian Wirtz could set Liverpool back around £118m if he arrives at Anfield this summer and the club's spending could hit around £200m at this early stage, meaning they will be forced to sanction some outgoings Liverpool will be forced to balance the books this summer should they complete lucrative deals for Florian Wirtz and Milos Kerkez, who are the club's top transfer targets. The Reds are being quoted around £118million by Bayer Leverkusen for German playmaker Wirtz in what is set to be the most expensive deal in Premier League history. Bournemouth left-back Kerkez, meanwhile, should set Liverpool back around £45m, which would take their summer spending to almost than £200m on three players after completing a move for Jeremie Frimpong. Liverpool will need to make sure they remain within the Premier League's PSR financial rules and therefore Arne Slot will have to sanction a handful of exits. After winning the Premier League, it makes sense for the Dutchman to trim his squad slightly and freshen it up. There are a handful of players whose futures are uncertain at Anfield and could be on the chopping block. Mirror Football has taken a look at five players who could be on their way out of Liverpool once they have started splashing the cash this summer. Harvey Elliott The midfielder has become a clear candidate for the exit door at Liverpool after he recently spoke out to confirm he wants to play regularly and doesn't want to "waste years of his career" on the subs bench. Elliott played just 18 times in the Premier League last season as Liverpool romped to the title, with 16 of those coming as a substitute. But should Wirtz arrive at Anfield, that could further limit his opportunities and Liverpool will know that selling Elliott would stand them in good stead as far as PSR is concerned because he is a home grown player. Elliott said: "It's just a situation that me and the team have to have a conversation about because I'm coming into an age now where I'm 22, I'm going to be 23 next season," said Elliott when asked if he is considering leaving Liverpool. "I don't really want to be wasting years on my career because it's a short career. You don't know what's going to happen. I need to reflect. I need to see if I'm content in doing what I'm doing and how can I improve as a player because that's the most important thing. "I just want to improve and be the best possible version of myself. If that's to go somewhere else, then it's a decision that I'm going to have to make and I just need to see what happens. Nothing makes me want to leave. I love the club, I love the fans, the team. I support them as well. But most importantly, it's just about what's best for my career." Federico Chiesa The Italian has barely played for Liverpool since joining from Juventus for £10m last summer, with injuries significantly halting his progress. In fact, Chiesa started just four times in all competitions and featured only 14 times in total - scoring twice - as he struggled to make an impact for Slot. Chiesa looks way down the pecking order at Anfield and there are also still doubts over his fitness levels after experiencing a number of setbacks and the Daily Mail have claimed he is considering moving back to Italy. The player himself admitted he would sit down with his agent and family to discuss his future but said he "wouldn't mind" staying with Liverpool despite enduring "frustration" with his situation. He told Corrirere dello Sport: "The year is over. But it's an experience I would do again. Soon I will sit down at the table with the club, Fali (Ramadani, his agent) and my family to find the best solution. I wouldn't mind staying in Liverpool at all. "In the autumn Liverpool were going three times as fast as the others, an incredible intensity. At the beginning I felt the frustration… The desire to play was there, I put it aside, I understood the situation." Darwin Nunez Since joining Liverpool for £85m in 2022, Nunez has been something of a 'nearly man' - always chipping in with goals but never becoming the main man at Liverpool. There was so much hope for the Uruguayan after he arrived from Benfica off the back of netting 34 times from 41 appearances. The forward can pop up with an important goal and clearly has talent but he is yet to justify his huge price tag and continues to be only a squad player under Slot. This season he only started eight times in the Premier League but it was in the cup competitions where he made his mark as he chipped in with seven goals across the season - down from 18 in 2023-24. Nunez is now being linked with a move away after being linked with Arsenal and even Manchester United, while Saudi Pro League clubs are also believed to be weighing up a move. With Luis Diaz appearing to be the first choice striker at Liverpool, Foot Mercato have claimed Al-Hilal are among those monitoring the player. Kostas Tsimikas With Kerkez coming in, it wouldn't make logical sense for Liverpool to have three left-backs, so you'd bank on one of the other two leaving the club. While Andy Robertson has appeared to fall out of favour under Slot in the last season, he remains the more experienced option who has been with Liverpool for eight seasons. Tsimikas will be the more frustrated player if - after he began to finally challenge Robertson at left-back - Kerkez comes in and replaces him immediately, therefore he could be looking to leave in the near future. Various reports have claimed Liverpool don't see Tsimikas as their main left-back long term and that he could be used as one of the players to make way for more financial leeway. He has played 114 games for Liverpool in total and clocked 28 appearances in the 2024-25 campaign but when the Reds search for players to shift, Tsimikas should be high up on the list. Joe Gomez Gomez nearly left Liverpool for Newcastle last season before the Magpies pulled the plug on the deal and was hoping for new lease of life after Slot took over from Jurgen Klopp. But Gomez had a hugely frustrating campaign that was hampered by hamstring injuries - which forced him to miss a total of 28 games. He hasn't played since February and only managed a total of 17 appearances in all competitions. Now, Slot could be ready to cash in on the injury-prone defender if an offer comes in for him this summer. According to the Liverpool Echo, Gomez is facing a "transfer crossroads" moment and it would not be a surprise if he left the club after ten years on Merseyside.
