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Automobiles
Pendragon owner to cut hundreds of jobs in used car overhaul
...US group Lithia agreed to buy Pendragon’s dealerships and its used car marketplace CarStore last year, following a protracted bidding war that involved former boss Trevor Finn working with Sweden’s Hedin...
April 23, 2024
Clayton Dubilier & Rice Inc
US buyout firm CD&R hires former Tesco chief Dave Lewis
...It also owns assets including petrol station operator Motor Fuel Group and part of car windscreen repair company Belron. CD&R has explored the possibility of selling MFG....
January 15, 2024
FT Live
US Pharma and Biotech Summit
Strategies for innovation, pricing and access
Thursday, 16 MayNew York, NY, USA
Tesla Inc
Tesla scouts sites for $3bn India car plant in boost for Modi
...The carmaker is developing a cheaper vehicle to go on sale late next year, but has not yet said where the car — which has been dubbed “Model 2” by Tesla observers — will be manufactured....
April 3, 2024
Ferrari NV
Ferrari doubles Taiwan sales as chip entrepreneurs fuel demand
...Last year, Ferrari reported €1.26bn of net profits on car sales of just 13,663....
March 25, 2024
Tesla Inc
Tesla’s biggest problem: cars
...And that will be how cars work. You just summon the car using your phone. You get in. It takes you to a destination. You get out....
April 26, 2024
Tesla Inc
Tesla steers back towards cheaper cars
...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....
April 25, 2024
FT Live
US Decarbonization and Industrial Transition Summit
Securing the resources to build and finance America's clean energy future
Wednesday, 29 MayWashington, D.C., USA
Electric vehicles
IEA bullish on electric vehicle sales in 2024
...Installing charging points has also not kept pace with sales in some markets, with the number of EVs per charging point rising in Norway, the US and UK....
April 23, 2024
Tesla Inc
Tesla and BYD sales fall as concerns mount over electric shift
...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...
April 2, 2024
Tesla Inc
Tesla to cut 10% of global workforce
...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...
April 15, 2024
BYD Co Ltd
BYD misses profit forecasts as Huawei challenge emerges
...While the company has long had ambitions to enter the car market, some experts have previously questioned how it could succeed in the face of US sanctions....
March 26, 2024
Tesla Inc
Tesla shares rise on plans to accelerate launch of ‘more affordable’ models
...Most big US carmakers have reported a drop in electric vehicle sales due to softening consumer demand, a shift in preference to hybrids and increased competition from low-cost options from Chinese brands...
April 24, 2024
LexApple Inc
Apple is not the only company backing away from driverless cars Premium content
...In the last fiscal year, R&D costs were equal to 7.8 per cent of revenue, up from 3.3 per cent in 2014. But it has not been willing to fund a new supply chain for mass car production....
March 7, 2024
Inside BusinessEdward White
China’s zombie car plant problem
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
March 26, 2024
BYD Co Ltd
BYD loses EV throne to Tesla as sales slip
...Data from the China Passenger Car Association showed that Chinese sales of pure battery cars and plug-in hybrids, which the government counts as “new energy vehicles”, or NEVs, rose 36 per cent last year...
April 2, 2024
The FT ViewThe editorial board
The electric vehicle revolution is running out of steam
...The lull in EV sales is having a damaging impact on the auto industry....
April 10, 2024
FT Live
Future of the Car
The technology and new business models shaping the next decade in automotive
Tuesday, 7 MaySancroft, Paternoster Square, London EC4M 7DQ, UK
Inside BusinessJune Yoon
BYD’s $230,000 electric sports car signals plan to take on VW and Toyota
...In the US, they rose nearly two-thirds last year, outpacing the 46 per cent increase in EV sales. Total hybrid sales of about 1.2mn cars matched EV sales figures....
March 5, 2024
US interest rates
The Decembrist revolt
...Still, while the Fed likes to use PCE, most people experience CPI (ie they don’t wreck their cars)....
April 11, 2024
Mergers & Acquisitions
CD&R’s Morrisons sells petrol forecourts to sister company MFG for £2.5bn
...Both companies are owned by US buyout firm Clayton, Dubilier & Rice....
January 30, 2024
XPeng, Inc
China’s Xpeng to boost spending to survive ‘bloody sea’ of EV competition
...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....
February 19, 2024
Electric vehicles
US gives carmakers more time to meet aggressive emissions targets
...Electric vehicle sales growth has slowed in the US, with potential buyers turned off by sparse charging infrastructure and the relatively high price tag compared with combustion engine cars....
March 20, 2024
Inside BusinessPeter Campbell
The big worry for carmakers: what if the EV slowdown is not a blip?
...US auto manufacturers are privately worried that a second Donald Trump win will lead to a gutting of EV rules....
April 1, 2024
Tesla Inc
Tesla’s Q1 is going to be a wreck. Will anyone care?
...It was something tenable on the horizon, so was a reason to look past the current EV sales slump....
April 17, 2024
LexTesla Inc
Robotaxis are not the solution to Tesla’s problems Premium content
...If the US raises interest rates again this year, higher car financing costs could further dent demand....
April 23, 2024
LexTesla Inc
Elon Musk is still intrinsic to Tesla’s future Premium content
...But one day, he says, Tesla and SpaceX may create something that is not “even really a car”. The Technoking is the reason Tesla remains the most distinctive car company in the world....
April 2, 2024
Unhedged
Inflation is not going quietly Premium content
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
April 11, 2024

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