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...The company said on Sunday that it signed a memorandum with Huawei to buy a stake of up to 40 per cent in a new venture that will take over core technologies and resources from the tech group’s lossmaking...
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...But if politicians cannot persuade consumers to buy EVs, will they tear up their net zero pledges, or turn to other measures to drive EV sales?...
...Younger shoppers’ penchant for Apple Pay, auto-fill payments and buy now, pay later services is eroding the company’s share of the online payment market it once dominated. Growth has sputtered....
...Lookers, one of the last remaining listed car dealership groups in the UK, is to be bought in a £465mn deal by Alpha Auto, a private Canadian owner....
...its closing price on Friday — valuing the rival auto group at roughly €3bn....
...Hertz, previously an enthusiastic EV supporter, plans to sell a third of its EV fleet to buy more fossil fuel cars. Ford will cut output of the electric version of its popular F-150 pick-up....
...“The Chinese carmakers have become predatory in their own domestic market,” said Matthias Schmidt, an independent auto analyst....
...Citi was also a leader on a $310mn loan to Sunbit, a buy-now, pay-later company that specialises in auto repair shops and dentist offices....
...Among the bigger companies are Copart and Insurance Auto Auctions, which auction off junked cars; LKQ, which sells salvaged parts to repair shops and retail customers; and Boyd Group Services, which buys...
...In the consumer price index, most of the remaining inflation overshoot is in two categories: auto insurance and shelter....
...US consumers, flush with cash since the pandemic, are happy to buy $50,000 sport utility vehicles and pick-up trucks....
...One of Lookers’ largest shareholders with a 20 per cent holding is Constellation, the UK-based company that also owns dealer group Marshalls as well as We Buy Any Car and online retailer Cinch....
...I would argue the gradual increase in subscription price is a thoughtful decision rather than an automatic one....
...Most notably, BYD is now the world’s biggest EV maker, and China the biggest auto exporter....
...The managers of these capital pools buy up pieces of multiple bank loans, often stemming from private equity deals....
...On the fringes of last week’s Munich auto show, a regular meeting of the region’s top auto executives focused almost exclusively on the threat from the Chinese brands whose glitzy stands dominated the trade...
...While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...“No one was willing to buy the plant at a high price.”...
...“China still builds and buys more EVs than the rest of the world combined,” says Dunne. “Chinese EV makers are sitting on enough capacity to supply 75 per cent of global EV demand....
...Analysts said the ongoing price war in China’s auto market could lead to a vicious cycle. “In the case of China, when the price is lower, people think, ‘wait a minute....
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