Volkswagen AG canceled plans for a partial share sale in its Traton SE division, citing weak markets, a setback to the automaker’s plan to generate fresh funds for the heavy-truck unit’s expansion outside of Europe.

Ford Motor Co. said it will cut thousands of jobs, weed out slow-selling variants and potentially close entire factories in Europe, as the carmakers’s global cost-cutting drive targets a region that has been a drag on earnings for years.

Investors in European carmakers are once again facing months of share volatility after the U.S. circulated a draft report on tariffs and European Commission President Jean-Claude Juncker signaled a cease-fire in the looming trade war may soon come to an end.

Over the past three decades, the global auto industry has gotten, well, more global. Manufacturers built scores of factories outside their home countries to reduce exposure to currency swings, take advantage of cheaper labor and manufacture cars closer to buyers.

Major German carmakers are rolling out stylish, sporty electric vehicles in the mold of Tesla's Models S, X and 3. Unlike Tesla, they have roughly a century of experience launching models every few months and can spread development costs across a broad portfolio.

Volkswagen AG’s supervisory board is meeting April 12 to push through a change in top management and organization, after a rushed statement left more questions open than answered.

Daimler AG said future collaboration with its new largest shareholder Li Shufu will hinge on keeping the manufacturer’s existing Chinese partner on board.

Daimler AG cast doubt on Tesla Inc.’s plan to deliver electric heavy trucks next year, saying its more modest goal to start selling battery-powered big rigs by 2021 is more realistic.

Volvo AB boosted its forecast for truck markets in the U.S. and Europe this year as low fuel prices and interest rates push demand, a development that’s expected to put more strain on an already tight supply chain. The shares rose the most in three months.

Mercedes-Benz, conducting the biggest test using drones to ship everyday items such as ground coffee and cellphones, said the mini-aircraft completed 100 drop-offs to strategically placed vans in Zurich with a perfect safety record, and more deliveries are planned for next year.