How Qualcomm made itself essential to the industry

CEO Jim Farley and CFO John Lawler are among those receiving 90 percent of their bonus target, while other salaried employees will get 148 percent.

The expansion is BMW's latest push into electric vehicles as it looks to convert more than half of its sales into all-electric cars by 2030.

Bosch said earnings were weighed down by supply chain cost increases and investments in the transformation of the company’s mobility business.

Ifo said automakers and suppliers rated their current business situation as significantly improved, with order backlogs at a high level.

Ford must decide how many employees it needs in Europe and the company will decide soon on how to restructure its European business, CEO Jim Farley said.

Slaven, 56, who served as chief marketing officer for nearly a decade, decided to retire, a company memo said. He is the latest in recent high-level executive departures at Mercedes-Benz USA.

Battery maker plans to use proceeds to support European expansion plans, especially the development of a plant in Hungary, Reuters reported.

The Defender has been Jaguar Land Rover's top seller for the past seven quarters as the company prioritized higher-margin models amid the chip shortage.

Analysts expect the market to grow by up to 13 percent as automakers work through pent-up demand, but a potential recession could chill consumers' appetite to spend on big-ticket items like cars.

Ferrari expects earnings to rise this year on strong demand for its new Purosangue and plug-in hybrid models.