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...A jump in sales at BCG’s AI division also partly offset a slowdown in other parts of the business last year amid a tougher economic backdrop....
...Its shares have slipped since the start of the year, while rivals’ stocks have soared, adding pressure on the tech giant to announce game-changing AI features that could boost device sales....
...Musk in 2021 said Tesla had set up a data centre in China to localise “all data generated from our business here, including production, sales, service, and charging”....
...The world’s biggest carmaker by sales will work with China’s most valuable listed company on developing services for domestic customers, including deploying Tencent’s artificial intelligence and cloud-based...
...By shifting its mix of businesses to services, Apple has kept margins expanding even as sales dip....
...Will new technology turn around slowing sales growth at Tesla?...
...Sales at Precision Castparts, an aeroplane parts manufacturer that supplies Boeing, jumped 10 per cent to $2.5bn....
...Elon Musk’s decision to lower the price of Tesla vehicles in China in late 2022 sparked savage price cuts across the auto industry, leading to squeezed margins for both legacy multinational auto groups in...
...This shift will have major ramifications for both the auto industry and the energy sector.”...
...The pressure is especially high in China, the world’s biggest auto market and the US EV maker’s second-largest market by sales, where competition between local EV makers and foreign carmakers is heating...
...Tesla’s sales figures also “suggested a sharp deterioration in growth” in the US, said Tom Narayan, an auto analyst at RBC Capital Market, while the Model Y and 3, which account for more than 90 per cent...
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
...Tesla has cut prices several times — including this week — to buoy sales, although this has led to a collapse in the re-sale value of its cars....
...on Sunday afternoon and met Li, as the electric vehicle maker’s chief sought to overcome recent setbacks — including in China — by refocusing Tesla on artificial intelligence with a planned “robotaxi” service...
...It is projecting low single-digit growth for its hardware business, with continued strong growth in services....
...Instead, inflation came in strong in services categories that have looked persistently hot for a while: shelter, medical care and auto services....
...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....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...The slowing pace of sales growth has fuelled expectations among auto executives for a wave of consolidation that will leave only a handful of companies in the world’s largest car market....
...It was something tenable on the horizon, so was a reason to look past the current EV sales slump....
...The lull in EV sales is having a damaging impact on the auto industry....
Potential sale comes after Apollo’s $26bn offer was rebuffed
...Last year, 80 per cent of exits were sales to corporate buyers ($271bn). The next most popular exit was sales to other PE firms ($62bn)....
...“Global EV sales continue to be under pressure as many carmakers prioritise hybrid over EVs.”...
...Yet sales, the same data set predicts, will lag even further behind. EV interest last year resulted in sales of 9.5mn vehicles, but the figure is only expected to be 9.8mn this year....
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