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...Eunice Lee, an auto analyst at Bernstein, estimates China now has the overall capacity to make close to 40mn vehicles a year and rising, but there is domestic demand for just 20mn to 25mn....
...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...
...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....
...The established auto industry has been warning for months that mainstream buyers remain sceptical of electric cars because of their higher prices and need to recharge....
...That would put Tesla’s auto profitability back to where it was in 2017, shortly after the launch of the Model 3. Will the margin guidance be any better? And even if it is, will it be believed?...
...“If you value Tesla just as an auto company you fundamentally have the wrong framework. If you ask the wrong question, the right answer is impossible,” he said....
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...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....
...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....
...As Peter Campbell laid out in the Financial Times yesterday: The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year . . ....
...The lull in EV sales is having a damaging impact on the auto industry....
...Set your WhatsApp messages to auto-delete: foreign spies might be reading them....
...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....
...Scaringe said that executives at the company still “firmly believe in the full electrification of the auto industry, but recognise in the short term the challenging macroeconomic headwinds”....
...The vote is a setback for Elon Musk, five years after he stunned the German auto industry by announcing he would build his first gigafactory in Europe next to Berlin, throwing the gauntlet to an industry...
...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....
...Its implications for Tesla, unions and the auto industry stretch across Europe, and back home to the US....
...Auto-delete settings on messages contribute to their ephemeral, conversational tone. However, the judge described this as the suppression of evidence....
...Chang’s and business technology provider Computer Services Inc....
...Tesla has avoided collective bargaining in its global operations despite opening a factory in Germany, where auto unions are powerful....
...The company is expanding among a clutch of Chinese auto groups in Europe, with plans to launch a cheaper brand in the region in 2025....
...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...
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
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