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...The job cuts come as the slowdown in sales of EVs makes waves across the global car industry, with companies across the supply chain from South Korea to Germany slashing jobs and costs....
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...Some opportunistic buying seems to be happening in the auto sector....
...Investor who came in expecting a bump-free glide towards the global EV mass market should have sold already, while bargain hunters attracted by last year’s slump will probably have been stopped out by this...
...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....
...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...
...In the consumer price index, most of the remaining inflation overshoot is in two categories: auto insurance and shelter....
...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 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....
...In 2014, German carmaker Daimler introduced a function to auto-delete emails received while employees were on vacation, with a notification to the sender....
...Three-quarters of global iPhone owners used Apple Pay in 2022, according to Deepwater Asset Management. The adoption is particularly pronounced among those aged 18-29 according to Mizuho....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...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....
...Stroll said that, in Hallmark, “we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry”....
...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....
...“China imposes restrictions on American autos and other foreign autos operating in China,” Biden added....
...The lull in EV sales is having a damaging impact on the auto industry....
...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...
...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....
...A set of aggressive Wall Street firms including Apollo Global Management struck a co-operative debt restructuring with Carvana, convinced that the company was turning the corner to a more sustainable trajectory...
The flipside to higher rates is people want more for their savings, too
...After winning record pay increases for 146,000 auto workers at Ford, General Motors and Stellantis, the United Auto Workers union is now rolling out a three-year, $40mn campaign to organise workers at 13...
...Bank of America expect a “strong” March retail sales report showing a 0.4 per cent increase in headline retail sales and a 0.7 per cent rise in the so-called core control group, which ignores spending on autos...
...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....
...The other is a pre-production model of a car that the new global head of design at Volvo believes is the company’s future: all-electric, with a quarter of its aluminium recycled (as well as a fifth of its...
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