Hints and tips:
...The Model 2 “appears to have morphed into something less radical than previously indicated, but there was confirmation that more models are coming,” wrote Mike Tyndall, analyst at HSBC....
...November this year are up 33 per cent at about 142,000 vehicles, putting it ahead of almost all foreign brands in China’s EV market, though well behind Tesla and Warren Buffett-backed BYD, according to HSBC...
...“The pricing environment for the remainder of the third quarter might become more difficult,” said HSBC auto analysts in a recent note....
...With its Grammy’s party, Mastercard joins a host of finance organisations that have embraced the new alternative realities....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...There was a March release date given for Gran Turismo 7 and the unfortunate slippage of Grand Theft Auto V from November to March. Axios has more....
...Charts via Kepler Cheuvreux: And here’s HSBC on what it all means for the Gulf states....
...“There definitely is a battle for this space,” says Chi Tsang, head of internet research at HSBC in Hong Kong....
...Compounding the problem, rental companies now have an incentive to sell their vehicles even more quickly, so as to diminish the amount of stock they need to finance....
...Now it has spread to the auto sector and I think the oil industry is next.”...
...Chinese companies are also likely to disrupt the battery material supply chain and drive down prices, according to analysts at HSBC....
...Last week Geely Auto, the Chinese carmaker that owns Volvo as well as the maker of London’s iconic black taxis, raised $400m to fund development of an electric taxi for the UK capital....
...“The families have control that is disproportionate to the amount of shares they hold,” says Herald van der Linde, head of Asia-Pacific equity strategy at HSBC....
...auto loans....
...This week Nintendo’s former leader died, Electronic Arts has a new chief executive and Grand Theft Auto V has set a new sales record....
..., and bulked up the unit over the following years by buying portfolios of distressed assets from rivals HSBC and Citigroup....
...Analysts at Macquarie said the price moves in iron ore were “a classical V-shaped recovery” and reflected the fall and rise in demand....
...The deal boosts GM’s control over credit offered to dealers and purchasers, and aids Ally’s finances as it prepares to pay back the US government for its bailout....
...’s founders in 2006, later adding acquisitions from HSBC and Citigroup....
...China is coming of age on all sorts of fronts at once: it has recently become the world’s largest auto market, will soon be the globe’s biggest luxury market – it even has its own aircraft carrier....
...Last year, the bank said the Household division, renamed HSBC Finance, would stop making new loans. HSBC has also exited an auto lending business....
...One recent triumph has been the creation of automatic mechanisms – such as auto-enrolment and auto-escalation of contribution rates – that increase participation in retirement programmes....
...and auto parts research....
...The highest ranked analyst from a small brokerage was Michael Ward of Soleil-Ward Transportation Research, who covers auto and auto component stocks....
...GMAC, the auto financing arm of General Motors, was deemed too big to fail by the government. Now bankers say they expect Cerberus to at least break even on its investment there....
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