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...The chancellor’s decision to end a policy of letting local authorities keep 100 per cent of the revenues from sales of council homes was taken as part of the deliberations for his Budget on Wednesday....
...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”....
...Hong Kong-listed shares in Chinese electric-vehicle maker Li Auto dropped 7 per cent on Friday, after the company slashed its January-March sales volume forecast due to lower than expected order intake....
...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...
...“Xiaomi Auto is striving for the ascendancy of China’s auto industry,” Lei said....
...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...
...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 Office for Budget Responsibility cut its forecast for electric vehicle sales to 38 per cent of new car sales in 2027, compared with its estimate of 67 per cent in March....
...The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year, according to data pooled from suppliers and forecasters by one auto investor....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...“It has now caused a major headache for auto companies that rely on these ships....
...But in his Budget speech Hunt said there was “no strong evidence that it had done so”, and added it was being “regularly abused”....
...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...
...Your default choice would typically be to run a “dual track” process exploring a public listing alongside a sale — and then select whichever exit path will maximise your financial return....
...Saudi Arabia has posted a budget deficit for last year, as its income from oil sales was hit by Opec member production cuts and lower prices....
...Renault’s Dacia brand this week announced that its Spring budget EV, which is imported from China, would be sold for under £15,000 in the UK....
...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....
...Pensions Poorly performing workplace pension schemes are to be banned from taking on new business under plans confirmed in the Budget....
...Madam Deputy Speaker we stick to our plan with a Budget for Long Term Growth....
...The former UK prime minister’s tax-cutting budget would have been the biggest since I was born. Sure, bond traders squealed like babies, but they are hardly models of consistency....
...The Budget was accompanied by forecasts from the Office for Budget Responsibility which confirmed Hunt’s fiscal predicament....
...But ahead of chancellor Jeremy Hunt’s Budget on Wednesday, directors of small businesses expressed concern over high costs — including interest rates — an impending rise in the living wage, a shortage of...
...The reduction of capital gains tax on the sale of second homes and investment properties for higher-rate taxpayers from 28 per cent to 24 per cent is a large carrot to encourage sales....
...Among those concerned about a swift rollout of electric vehicles is the United Auto Workers union, which has endorsed Biden for 2024....
...Chancellor Jeremy Hunt said in his Budget speech that the government would “proceed with the retail sale for part of the government’s remaining NatWest shares this summer”....
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