Hints and tips:
...China’s carmakers are engaged in a price war as sluggish consumer demand, a glut of new vehicles and slowing economic growth drag down prices....
...In contrast, Toyota’s stock price has rallied more than 44 per cent in the same period....
...Revenues at CATL, the world’s largest manufacturer of EV batteries, declined in its latest quarter, with the industry under pressure to cut prices amid softening demand for electric vehicles....
...Mixue and Guming, both known for their low prices and for being the first and second-largest bubble tea chains in China, respectively, are also planning initial public offerings in the coming months in Hong...
...Chinese smartphone maker Xiaomi jumped as much as 16 per cent on Tuesday after the company’s first electric vehicle appears to have pulled off an early success in an industry overwhelmed by competition and a price...
...While Li Auto became China’s first major EV start-up to turn a profit last year, it is facing a price war and fierce competition in the world’s largest auto market....
...Volkswagen-backed Xpeng on Tuesday predicted a revenue of Rmb6.2bn ($860mn) for the first quarter of 2024, below analysts’ expectations, as the company is grappling with a bruising price war triggered by...
...Despite a dominant market position, CATL faced challenges from smaller rivals that sold their battery products at a lower price last year....
...The move comes after Tesla cut prices in 2023 as part of a broader price war among Chinese EV manufacturers....
...BYD has slashed prices of almost every model in its line-up since the start of 2024, as the group vowed to win battles both with EV upstarts and with traditional brands such as Toyota and Volkswagen....
...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...
...as a price war escalates in the world’s largest EV market....
...That compares with the Rmb237,900 price tag of Tesla’s Model 3 standard version....
...The companies — the world’s top two sellers of EVs — have cut prices in order to stimulate demand as they face increased competition, especially in China....
...Forecast first-quarter earnings at Chinese electric-vehicle maker Li Auto have missed analysts’ estimates, as a fierce price war and intensifying competition in the world’s largest auto market threaten profitability...
...Yet it is launching in a highly competitive Chinese market that is in the midst of a price war....
...The brokerage upgraded its rating on the company to “overweight” from “equal weight”, tabbing the Shenzhen-listed stock as its “top pick” and raising the price target by 14 per cent to Rmb210 ($29)....
...JPMorgan cut Nio to “underweight” from “neutral” in a note on Friday, slashing its price target by 41 per cent to $5 per share....
...The company enters China’s EV market at a time of intensifying competition and a brutal price war....
...Shares in Tesla dropped more than 7 per cent on Monday after shipments from the electric-car maker’s China factory hit a 14-month low in February, amid disruption from the lunar new year and a price war....
...Tesla announced price cuts to two of its models in China on Friday, the latest salvo in a price war in which electric vehicle makers have competed for customers amid slowing growth in domestic sales....
...The company said its prices are justified by its high packing costs and its Rmb1bn investment into research and development....
...“Sales growth is increasingly reliant on promotional activities and price cuts,” said Ivan Lam, a senior analyst at Counterpoint....
...A second consecutive year of retrenchment in what the industry had hoped would be its fastest-growing large region has led traders and producers to forecast continued weakness in natural rough diamond prices...
...CATL, which counts carmakers including Tesla, BMW and Volkswagen as clients, recently reduced its battery prices amid stiff competition and slowing Chinese demand for electric vehicles....
International Edition