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...Along with the US, Taiwan has long had the highest ratio of private wealth to the size of its economy in the world....
...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....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
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...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...
...A “blowout” March retail sales report sparked a sell-off in US government debt and shook global currency markets on Monday, in the latest sign that the world’s largest economy may be running too hot to justify...
...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....
...“It has now caused a major headache for auto companies that rely on these ships....
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...Hyundai’s exit from Chongqing comes as combined car sales in China by Hyundai and its Kia affiliate fell to 310,000 last year from nearly 1.8mn in 2016, as a result of free-falling sales of internal combustion...
...British auto lenders could face up to £13bn in compensation payouts after the UK financial watchdog set out the length of a probe into historic commission agreements that allegedly led to consumers overpaying...
...“China imposes restrictions on American autos and other foreign autos operating in China,” Biden added....
...“Despite the softer than expected data, retail sales still added almost 0.1 percentage points to real GDP growth in Q1,” he added, helping the economy recover from last year’s technical recession....
...Autos are just one part of a wider industrial framework within which, for decades, developed economies have relied on China as an inexpensive and collaborative manufacturing hub....
...The question for US and European governments is: what steps can they, or should they, take to protect their automakers, which are so important to their wider economies?...
...Unions have not gained many decisive victories in recent decades, so this week’s agreement between the United Auto Workers and General Motors makes a change....
...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...
...More on the eurozone economy: The four biggest southern European economies have outgrown Germany by about 5 per cent since 2017, underlining the region’s two-speed recovery from recent shocks. 2....
...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...
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...the Chinese auto groups....
...Right now, auto insurers are perhaps pushing up premiums to make up for higher post-pandemic costs. Both should settle, but it will require patience. Bottom line: the CPI is noisy right now....
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