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...Auto sales, which rose 12 per cent over 2023, are one sign of lower prices supporting demand, though Loo said the auto data had been “volatile”....
...BYD profits rose last year but fell short of expectations as Tesla’s main Chinese rival felt the brunt of intensifying competition and slowing sales growth....
...The lull in EV sales is having a damaging impact on the auto industry....
...I’m gonna wait and buy it at the bottom’,” said Stephen Dyer, partner and managing director at consultancy AlixPartners in Shanghai. “It actually slowed down sales when that happened.”...
...Less than two years into entering Thailand, the region’s second-biggest auto market, BYD holds the position as the biggest EV maker and the third-largest automaker for the overall passenger car market, according...
...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....
...The world’s biggest tech show is also a major auto expo, with South Korea’s Kia and Hyundai, Honda of Japan and Mercedes-Benz of Germany all taking part along with numerous suppliers....
...Instead of being a rogue upstart, it is now part of software giant Salesforce. Sales growth has fallen. In the last quarter, it was 16 per cent, down from 33 per cent the previous year....
...All remain deeply under water.The fall, if sustained, deals a hammer blow to one of China’s most ambitious auto groups, and raises questions over its future ability to tap public markets to raise funding...
...I presume, or at least hope, that McKinsey will respond to Green and Hand, and I won’t call a winner in the statistical part of the argument....
...J&J’s medtech division has outstripped the growth of the company’s drugs and diagnostics business, generating $30.4bn in sales last year, or 35 per cent of group revenues....
...Daniel Roeska, an auto analyst with Bernstein, said that consumers had perceived a “chasm” between the industry leaders — Tesla and BYD — and the “traditional [original equipment manufacturers]” such as...
...In the same year, new car sales in India beat Japan for the second consecutive year and maintained the world’s third-largest automobile market after China and the US....
...Smaller, newer rivals such as XPeng and Li Auto with a head start in software development had already been chipping away at its market share by offering connected and smart features in their EVs....
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...But a steadier auto market has proved a tricky road to handle for the pair. Hertz can be considered, at least in part, a highly leveraged bet on used-car prices....
...His vision appears, in part, to have been vindicated....
...His Tesla business is part of an invading band of EV makers aiming to supplant Europe’s auto giants — which dragged their feet on the new technology — precisely by rejecting old practices....
...Uniqlo, part of Japanese fashion group Fast Retailing, last month sued Chinese fast-fashion retailer Shein in Japan....
...Instead, it was inked in the offices of Allen & Co, Raine Group and Wachtell, Lipton, Rosen & Katz, which advised on an up to $3bn infusion into the PGA Tour by a consortium led by Liverpool FC and Boston...
...of Beijing-based advisory company Sino Auto Insights....
...“Auto businesses share a sense of crisis,” said chief executive Shuji Ogawa, that EVs have put engine parts makers in a plight....
...In China — the world’s biggest car market — BYD and Tesla soak up 43 per cent of electric vehicle sales. “Tesla need not worry too much,” said Dunne....
...BYD, the world’s biggest electric-vehicle manufacturer and key Tesla rival, has announced plans to build a factory in Hungary and is looking at production sites in Mexico, as it eyes sales in Europe and...
...The company, over the long term, is targeting overseas sales of between 2mn and 3mn vehicles, excluding the US and European markets....
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