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Ford CEO Jim Farley told CNBC that the automaker has learned from its past quality and recall issues, which have hurt its earnings and stained its reputation.

Ford said its EV sales fell by 40.7% during the quarter compared with a year earlier, while sales of its F-Series trucks, including the F-150, fell 11%.

Tesla is trying to recover from consecutive annual declines in vehicle sales that were partly caused by a consumer backlash against CEO Elon Musk.

Rivian is increasing its delivery outlook to between 65,000 and 70,000 EVs, up from 62,000 to 67,000 units.

Ford reports it assembled more than 2 million vehicles in the U.S. last year - more than any other auto manufacturer, including 311,000 units for export.

Volkswagen is poised for a boardroom showdown following reports that the auto giant is weighing up shutting four factories and implementing 100,000 job cuts.

Hong Kong-listed shares of Chinese electric vehicle makers surged, after companies posted June vehicle data that helped to buoy investor sentiment.

General Motors' second-quarter U.S. sales fell 4.2% as year-over-year demand for its all-electric vehicles and Chevrolet Silverado pickup trucks declined.

A major issue for automakers is the deal's rules of origin, which determine where a product comes from and which goods are eligible for preferential treatment.

Lamborghini is calling the new Urus SE Performante the "fastest Super SUV in the world."