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Volkswagen factory power station chimneys in Wolfsburg, Germany, across the canal on a sunny day
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Week in Reverse: October 25–31, 2026

Written by AutoGathering Staff
Volkswagen factory power station chimneys in Wolfsburg, Germany, across the canal on a sunny day

Week in Reverse: October 25–31, 2026

Earnings week, round two, and Volkswagen took the hardest punch: a €5.8 billion operating loss and an electric Golf put on ice. Ford beat and raised, Mercedes cut its outlook, Ottawa and Washington inched toward a tariff deal while Windsor stayed dark, Aston Martin chopped the roof off the Valhalla, and Kimi Antonelli moved to the brink of the F1 title in Austin. Here’s everything you missed, biggest stories first.

Week in Reverse · Automotive News

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October 25 to 31, 2026 · 11 min read

This Week at a Glance

The numbers that defined the week:

Volkswagen Q3 operating loss €5.8 billion Mostly a Porsche write-down

Ford 2026 profit outlook $10.5-11B Adjusted EBIT, low end raised

Antonelli’s Austin margin 13.1 sec He can clinch the title in Mexico

Larson’s Talladega margin 0.041 sec Won in overtime from 11th on the last lap

Sienna Hybrids recalled 228,367 Second-row seatbacks can unlock in a crash

EU electric cars in Q3 710,580 More than gas and diesel combined

01 · Business

Earnings Week, Round Two: Volkswagen Takes a Historic Hit

Last week it was GM, Tesla and Volvo. This week the rest of the industry opened its books, and the theme didn’t change much: China is shrinking, tariffs are expensive, and EVs still lose money for almost everybody who isn’t selling them by the million.

Volkswagen’s worst quarter in over a decade (Oct 29-30)

Volkswagen Group posted a third-quarter operating loss of about €5.8 billion (roughly US$6.5 billion). The biggest chunk is a €6.4 billion non-cash write-down of the value of Porsche, plus around €1 billion of impairments on its Chinese businesses. Deliveries fell 14.3% in the quarter to 1.89 million, and sales at its Chinese joint ventures are down 35% this year. VW kept its full-year forecast of a return on sales of up to 1%, which leaves almost no room for a bad fourth quarter.

The part car fans will feel came a day later: VW brand finance chief David Powels said development of the electric ID. Golf is paused until the company can afford it. He called it temporary, but gave no new timeline.

Ford beats and raises (Oct 28)

Ford brought in $49.5 billion in revenue, down 2%, and made $2.05 billion in net income. Adjusted operating profit rose 3% to $2.66 billion, and Ford nudged up the bottom of its 2026 forecast to $10.5 billion to $11 billion. Ford Pro and Ford Blue made the money, while the Model e EV unit lost $1.06 billion, a smaller loss than last year. Ford expects about $2.2 billion back in tariff reimbursements and took a $175 million charge for the EV programs it has cancelled.

Stellantis and Mercedes-Benz (Oct 28)

Stellantis revenue rose 1% to €37.6 billion and it lost €0.5 billion, much less than a year ago. North American shipments fell 12% to 357,000 thanks to planned downtime, which you’ll read more about below. It kept its 2026 forecast.

Mercedes-Benz revenue slipped 4.5% to €30.7 billion, but net profit rose 27.6% to €1.52 billion. The car business is the problem: its margin fell to 2.5%, unit sales dropped 7.8%, and Mercedes cut its 2026 car margin forecast to 2-3% from 3-5%. The bright spot is a record 68,428 electric cars sold, up 60.5%.

Everyone else

Porsche itself (Oct 27) made €1.74 billion of operating profit in nine months, up from almost nothing a year ago, even though deliveries fell 16%. Hyundai cut its 2026 wholesale target to 4.0 million vehicles, while Kia grew operating profit 24.3% to ₩1.82 trillion, helped by the US tariff on Korean cars dropping to 15%. And Rivian (Oct 29) delivered 19,248 vehicles, up 46%, said the new R2 is now its best seller, and raised its 2026 delivery forecast to 67,000-70,000.

Our take: Most of VW’s loss is an accounting hit on Porsche, so don’t read it as the company running out of cash. Pausing the electric Golf is the real tell, though: when the brand that built the people’s car can’t fund the people’s EV, you know how tight things are. Ford, meanwhile, keeps proving the same thing GM did last week: trucks and work vans pay for everything.

02 · Canada

Canada and the US Inch Toward a Tariff Deal, While Windsor Stays Dark

There’s finally some movement on the tariffs that have been squeezing Canada’s car plants. On October 27, Reuters reported that Washington and Ottawa are working on a deal to ease the US Section 232 tariffs on Canadian steel and autos. Nothing is signed, and US sources say the administration still wants more concessions. Donald Trump said the two sides are “getting close to a deal,” while Prime Minister Mark Carney described only “a slight intensification” in talks and said Canada isn’t yet in a position to sign.

The clock matters. According to The Hub, without a deal the US tariff on Canadian autos and steel goes to 50% on January 1, 2027. Speaking at a Detroit conference, American Honda‘s Jennifer Thomas called that increase “catastrophic” for the whole industry. Honda builds the CR-V and Civic in Alliston, Ontario, so it has plenty at stake.

Meanwhile, the Stellantis standoff hasn’t budged. Unifor Local 444 president James Stewart said on October 27 that talks with Stellantis haven’t resumed, as the union waits for three-way discussions with the company and Ottawa to wrap up. Neither side has asked for a “no board” report, so there’s still no legal strike position. The sticking points remain a third shift at Windsor and the idle Brampton plant.

Then on October 28, Stellantis cancelled production at Windsor Assembly for the week of November 9 too, on top of the weeks of October 19, October 26 and November 2. That’s about 6,400 workers who build the Chrysler Pacifica and Voyager, the Grand Caravan and the Dodge Charger sitting at home for a month, with the company pointing to “evolving market conditions,” demand and tariffs.

Our take: A deal that drops the auto tariff would be the single best thing that could happen to Canadian car plants right now, but “getting close” has been said before, and talks collapsed after a framework in August. Until something is signed, Windsor’s empty weeks are the real scoreboard.

03 · Racing

Racing: Antonelli on the Brink, Larson Steals Talladega

One of the busiest race weekends of the fall, and a couple of championships are nearly settled.

F1: Antonelli dominates Austin (Oct 25)

Kimi Antonelli won the Formula 1 United States Grand Prix at Circuit of the Americas by 13.078 seconds, his ninth win of the season, on a one-stop strategy. Charles Leclerc passed Max Verstappen for second with seven laps left, and Lewis Hamilton was fourth. George Russell finished eighth after a five-second penalty for leaving the track on lap 1.

The math: Antonelli leads Russell by 123 points and Hamilton by 124 with 125 left. A top-nine finish in Mexico on November 1 makes the 20-year-old Mercedes driver world champion.

In Saturday’s qualifying at Autódromo Hermanos Rodríguez (Oct 31), Hamilton took his first pole for Ferrari, just 0.009 seconds ahead of Russell. Antonelli qualified fifth, and Verstappen and Liam Lawson each took one-place grid penalties for colliding in practice.

NASCAR: Larson wins Talladega by a nose (Oct 25)

Kyle Larson came from 11th on the final lap of overtime to win the YellaWood 500 by 0.041 seconds over William Byron, his first superspeedway win. Big crashes buried Christopher Bell, Chase Briscoe, Joey Logano and Ryan Blaney outside the top 30. A week after his lead shrank to 5 points, Larson now sits 73 points clear of Denny Hamlin and 74 ahead of Bell in the NASCAR Cup Series Chase, with Martinsville (Nov 1) and the Homestead finale (Nov 8) left. Leave Martinsville more than 76 points ahead and he’s champion.

MotoGP: Phillip Island cancelled, Acosta wins in Sepang

The Australian Grand Prix was called off on October 25 because poor visibility grounded the medical helicopter, leaving Marc Márquez 365 points to Jorge Martín’s 355. Martín then withdrew from the Malaysian round with injuries from a sprint crash in Australia, and on October 31 Pedro Acosta won the Sepang sprint by 0.578 seconds over Márquez.

Supercars: Feeney wins as the finals bite (Oct 25)

Broc Feeney won Sunday’s Gold Coast 500 race by 6.9 seconds over Brodie Kostecki, in the first elimination round of the Supercars Championship finals. Ryan Wood, Kai Allen and Jack Le Brocq were knocked out, and a late fuel stop by Erebus helped Anton De Pasquale grab the last spot for Sandown.

Our take: Antonelli’s season has been the story of 2026, and he’s earned it with pace, not luck. Larson, on the other hand, went from looking finished to all but unbeatable in one wild afternoon. That’s superspeedway racing for you.

04 · New Cars

New Metal: A Topless Valhalla and a Busy Week for Mazda and Kia

The headliner is a hypercar you’ll probably never see on the road, but there was plenty of news for normal budgets too:

White Aston Martin Valhalla coupe with dark roof parked on grass at a car show

An Aston Martin Valhalla coupe. The Spider revealed this week adds a removable roof but looks much the same from the front.

  • Aston Martin Valhalla Spider1,064 hpAston Martin‘s mid-engine hybrid loses its fixed roof but keeps the twin-turbo V8 and three electric motors, with 811 lb-ft (1,100 Nm). Aston quotes 0-62 mph in 2.5 seconds and 217 mph (350 km/h) with the optional carbon roof fitted. Deliveries start in the third quarter of 2027. No official price yet; Autocar reports about £1.3 million.
  • 2027 Mazda CX-90 (and goodbye CX-70)From $41,345Mazda dropped the CX-70 and replaced it with a two-row CX-90. The base 3.3 Turbo makes 280 hp, the Turbo S 340 hp, and the plug-in hybrid 323 hp. That price includes destination.
  • 2027 Mazda CX-5From $31,585 / C$36,300The base price holds in the US (with destination), and Google built-in with the Gemini assistant is now standard. Mazda Canada’s GX starts at C$36,300 before C$2,195 in freight and PDI.
  • 2027 Kia EV9From $54,990Kia‘s three-row EV costs $90 more than before, but the top Land trim gets a big torque bump to 516 lb-ft. Destination is $1,645 extra.
  • 2027 Kia EV6From $37,900Prices are unchanged from 2026 and the Georgia-built EV6 carries over. Destination is $1,545.
  • McLaren McL 820809 hpMcLaren confirmed the name and power of the 750S replacement, 69 hp more than today’s car. The full reveal comes in 2027.
  • 2027 Jeep Gladiator 35-inch Tire Launch EditionNo price yetJeep now fits 35-inch tires from the factory, with a 1-inch lift, 4.56 gears and a 46.7-degree approach angle, on the Willys, Rubicon and Rubicon X.

Our take: The Valhalla Spider is gorgeous and absurd in the best way, but the CX-90 news matters more to you. Folding the CX-70 into a two-row CX-90 makes Mazda’s lineup a lot less confusing, and a $41,345 inline-six family SUV is still one of the nicest-driving deals in the class.

05 · SEMA

SEMA Previews: A Hotter Type R and a 1,300-Horsepower Honda Passport

The SEMA Show runs November 3-6 in Las Vegas, and automakers spent the week showing their hands early. The best of the bunch:

  • Honda Civic Type R HRC ConceptComing to the USHonda confirmed it’s developing this track-focused Type R for the US market. No specs, price or date yet. HRC wheels, exhaust and a short-throw shifter go on sale at Honda and Acura dealers in March 2027.
  • Honda Passport Baja Spec Trophy Truck1,300+ hpA 2.4-liter twin-turbo V6 paired with an 800-volt hybrid system, built for desert racing.
  • Toyota Crown Signia GT-S Performance ConceptShow carToyota slammed its wagon nearly 5 inches (about 13 cm) on coilovers, with Lexus RX 500h F Sport brakes and 21-inch wheels. No power upgrades and no production plans.
  • Toyota Woodland conceptsShow carsLifted versions of the RAV4, Grand Highlander, Sienna, bZ and Crown Signia on all-terrain tires. Yes, a lifted Sienna.
  • Nissan Sentra Spec-V Concept and Datsun S30Show carsNissan marked 35 years of the Spec-V with a manual, upgraded Sentra, and Chris Forsberg built a classic S30 restomod with the current Z’s twin-turbo V6 and six-speed manual.
  • 2028 Mitsubishi Outlander Diamond Trail EditionProduction trimMitsubishi‘s first official SEMA appearance since 2012 brings a real trim level with all-terrain tires, new bumpers and a Rock mode. No price yet.

Our take: Most SEMA builds are toys, but the Type R HRC is the one to watch. Honda saying it’s in development for the US is a lot more than a concept-car shrug, and if you missed out on the Type R Limited Edition, this could be your second chance.

06 · Tech

Tech Moves: Waymo Picks a Toyota, and Europe’s EVs Pass Gas

White 2026 Toyota bZ4X electric SUV with black trim parked outside a Toyota dealership

A 2026 Toyota bZ4X in Germany. Waymo’s robotaxi version will be built at Toyota’s Takaoka plant in Japan.

Waymo’s next robotaxi is a Toyota bZ (Oct 30)

Waymo picked the 2027 Toyota bZ (the car formerly called the bZ4X) as its next robotaxi. Toyota will build it at its Takaoka plant in Japan and fit Waymo’s driving system there, with testing in Japan from 2027. It’s also meant for right-hand-drive markets including the UK. No fleet size or money was disclosed. Three days earlier, Waymo started adding about 250 square miles (about 650 km²) of service area across Los Angeles, Nashville, Orlando, San Diego and the San Francisco Bay Area.

Tesla stretches Robotaxi hours (Oct 30)

Tesla‘s Robotaxi app update extends service hours to 6 a.m. to 2 a.m. and adds a “Calm Mode” that hides the self-driving visuals. A Forbes analysis argued the Cybercab is probably still remotely supervised; Tesla hasn’t said either way.

CATL’s solid-state cells move to trial production (Oct 28)

CATL said its sulfide all-solid-state cells are in 20 Ah trial production, with small-scale production in 2027 and mass production around 2030. The 500 Wh/kg figure you’ll see in headlines is a target, not a result.

Europe’s EVs outsold gas and diesel combined (Oct 28)

Data from the campaign group Transport & Environment shows battery-electric cars outsold gasoline and diesel cars combined in the EU in the third quarter, 710,580 to 655,540. Hybrids aren’t in either number, so gas engines aren’t dead, but they’re getting outnumbered fast.

Why you should care Waymo putting its system into a mass-produced Toyota is a big deal for scale. Purpose-built robotaxis are expensive; a car Toyota already builds by the thousand is not. And Europe’s numbers show again that the EV slowdown is mostly a North American story.

07 · Recalls

Recall Roundup: Check Your VIN

  • 2022-2026 Toyota Sienna Hybrid (7-passenger)228,367 vehiclesIn some frontal crashes the second-row seatbacks can unlock. The fix is mostly a software update to the airbag control unit. Owner letters from December 7.
  • 2022-2024 Lexus NX, NX Hybrid and NX Plug-in HybridMore than 63,300 vehiclesThe 7-inch gauge display can partly go blank at startup, hiding oil pressure, coolant and charging warnings. Dealers will update the software.
  • 2026-2027 Ford F-150 and 2026 F-250 to F-45030,123 trucksThe left tailgate cable can fail under a heavy load. Dealers will replace it. Also recalled in Canada.
  • 2024-2025 Audi Q4 e-tron and Q4 Sportback e-tron9,048 in the USThe high-voltage battery can overheat and catch fire when charged above 80%. There’s no fix yet, so keep charging to 80% or less. Also recalled in Canada.
  • 2026 Chevrolet Traverse and GMC Acadia (Canada)A small numberA front seatback may be badly made and could move or detach in a crash. Dealers will replace the frame.
  • 2018-2020 BMW 5 Series and 2018-2019 7 Series (Canada)Count not givenA starter defect can loosen the battery cable and cause a fire. Don’t use remote start until it’s fixed.

Own one of these? Run your VIN through Transport Canada’s or NHTSA’s recall lookup, or call your dealer. Recall repairs are free.

08 · Quick Hits

Quick Hits

  • GM is bringing hybrids to Lansing. Chevrolet parent General Motors plans to invest more than $2 billion in the Lansing region to build hybrids at Delta Township (Oct 27). Reuters’ sources say hybrid Traverse, Acadia and Enclave models, but GM hasn’t confirmed which.
  • Toyota has a new hybrid engine coming. Toyota Europe (Oct 28) showed a new 1.5-liter four-cylinder family, with and without a turbo, aimed at more than 15% better fuel economy. No model or date yet.
  • Renault’s EV sales jumped 84.7%. Renault‘s third-quarter results (Oct 29) showed electric cars at 25.8% of its passenger car sales, even as total volume fell 6%.
  • Toyota’s China slide continues. Toyota’s September global sales fell 2.2% (reported Oct 29), with China down 19.7% for an eighth straight monthly drop, while US sales rose 8.4%.

That’s the week. See you next Sunday for another Week in Reverse.

Keep Reading

Want the backstory on this week’s headliners? Dig into the brand pages and our racing coverage.

Volkswagen
Aston Martin
Formula 1

Sources

Photo Credits

  • Volkswagen factory power station chimneys in Wolfsburg, Germany, across the canal on a sunny day. Photo: Jorge Franganillo / Wikimedia Commons, CC BY 4.0
  • White Aston Martin Valhalla coupe with dark roof parked on grass at a car show. Photo: Calreyn88 / Wikimedia Commons, CC BY-SA 4.0
  • White 2026 Toyota bZ4X electric SUV with black trim parked outside a Toyota dealership. Photo: Alexander Migl / Wikimedia Commons, CC BY-SA 4.0
Photo credits
  1. Header image: Jorge Franganillo, CC BY 4.0, cropped and resized.
  2. White Aston Martin Valhalla coupe with dark…: Calreyn88, CC BY-SA 4.0, cropped and resized.
  3. White 2026 Toyota bZ4X electric SUV with…: Alexander Migl, CC BY-SA 4.0, cropped and resized.