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Several parts makers face idle capacity and are under pressure from carmakers to lower prices.

Daimler’s Mercedes-Benz Special Trucks unit will offer complete logistics vehicles and long-term service in Europe, North America and other markets, Daimler said in a statement.

The steel division, which employs 26,000 people, has been weighed down by soaring energy bills, rising interest rates and chronically low steel prices. 

The manufacturer on Sept. 3 unveiled a camouflaged version of the ID. Polo, which is expected to be priced below €25,000 ($29,125) when it goes on sale next year.

The company’s top labor official, Daniela Cavallo, on Sept. 2 urged Blume to step aside as head of Porsche AG, where he has remained CEO even after taking the helm at Volkswagen in 2022.

Daimler Truck will buy back $2.34 billion of its own shares, continuing a policy of returning cash to shareholders while managing the transition to low-emission vehicles.

Parts supplier Robert Bosch GmbH plans to cut 5,500 jobs globally, mainly in Germany, as the car industry’s woes ripple through the supply chain.

Europe’s plan to effectively ban the sale of combustion engine cars from 2035 will lead to a “massive shrinking” of its automotive industry, according to BMW AG CEO Oliver Zipse.

BMW AG is recalling 270 vehicles in the U.S. to fix improper welding on braking systems supplied by Continental AG, adding to a more widespread issue with the component.

DHL Group, the trading name of Deutsche Post AG, unveiled a new strategy aimed at increasing revenue by 50% by 2030 through various growth initiatives.