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...Last year, Ferrari reported €1.26bn of net profits on car sales of just 13,663....
...While Li Auto became China’s first major EV start-up to turn a profit last year, it is facing a price war and fierce competition in the world’s largest auto market....
...Of 1.2mn new energy vehicles sold in China in the first two months of the year, 467,000 were PHEVs, marking a 73 per cent jump on the same period a year earlier....
...The industry association expected Tesla to record sales of about 25,000 units in China this month, a 37 per cent decline from a year earlier....
...— Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Regarded as one of China’s biggest challengers to Tesla, Nio has not turned a profit almost a decade after its founding, and is lagging behind local peers such as Li Auto and BYD in sales growth....
...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...
...The chain has made a profit only twice since the buyout group acquired it and has racked up losses of €1.7bn since 2014, according to company filings....
...US auto manufacturers are privately worried that a second Donald Trump win will lead to a gutting of EV rules....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...China’s auto exports hit a record 4.9mn last year, up from 1.1mn the year prior, as the nation overtook Japan as the world’s biggest car exporter....
...“strong” March retail sales report showing a 0.4 per cent increase in headline retail sales and a 0.7 per cent rise in the so-called core control group, which ignores spending on autos, gas, building materials...
...Hipgnosis Songs Fund, the listed UK music rights investment company, has agreed to a $1.4bn takeover from US rival Concord Chorus....
...It was something tenable on the horizon, so was a reason to look past the current EV sales slump....
...Last week Aston announced it had raised £1.15bn through its latest refinancing....
...Excluding petrol and autos, sales were up 0.6 per cent. October’s sales figure was revised to a decrease of 0.2 per cent from a fall of 0.1 per cent....
...In the midst of declining auto sales and rising interest rates, Carvana completed a debt restructuring last year, agreeing with bondholders such as Apollo Global Management to delay near-term cash interest...
...Hyundai’s exit from Chongqing comes as combined car sales in China by Hyundai and its Kia affiliate fell to 310,000 last year from nearly 1.8mn in 2016, as a result of free-falling sales of internal combustion...
...The company aims to grow overall sales in North America, already its largest market, by 4.9 per cent in 2024 to reach 1.1mn units. Shares in Hyundai rose 1.8 per cent during trading on Thursday....
...total bill of £1.8bn....
...In the three months to March, retail sales were up 1.9 per cent compared with the previous three months, rebounding after a poor end to 2023....
...“Xiaomi Auto is striving for the ascendancy of China’s auto industry,” Lei said....
...US stocks turned lower on Monday as investors assessed a blockbuster retail sales report that indicated a strong consumer in a US economy that is still running hot....
...The Japanese company increased its operating profit forecast for the year to March to ¥4.9tn ($34bn) from ¥4.5tn and said that profit in its fiscal third quarter hit ¥1.7tn, an increase from ¥957bn a year...
...When you make something with 1.5mm steel you need to be aware that blueing will occur, like it or not, and I liked it,” he says of the painterly effect....
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