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...It could then sell the model in India and export to south-east Asia, the Gulf, Africa, and southern and eastern Europe....
...Traditional sales via distributors and other wholesalers were just 17 per cent. (Exports represented a mere two per cent.)...
...In the year to February, it generated net sales of $1.7bn and pre-tax profit of $131.6mn....
...Total hybrid sales of about 1.2mn cars matched EV sales figures. For Toyota, hybrid sales increased 47 per cent year on year in the December quarter, far outpacing total group sales growth of a tenth....
...Sales growth of electric cars has slowed in the past year, with carmakers increasingly forced to discount models in order to generate sufficient consumer demand, while companies from General Motors and Ford...
...Drew Baglino, senior vice-president leading Tesla’s engineering and technology development for batteries, motors and energy products, announced on X today that he would leave after 18 years at the auto group...
...The transaction is also the latest in a series of takeovers in the UK motor retail sector where consolidation has meant only Vertu and Caffyns remain....
...That was down from 49 12 months earlier, as it exited stakes in companies including General Motors, UPS and Procter & Gamble earlier in the year....
...After years of complex marketing strategies and dragging races from the east to the west coast, what appears to have made the difference is that Netflix series....
...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
...In January, Tesla warned that flagging demand, high interest rates and intensifying competition would lead to slower sales growth rates this year....
...Shanghai’s state-owned carmaker SAIC Motor, for example, had its 15 per cent tax rate for being a “high-tech enterprise” renewed four times since 2008....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...Ironically, slack sales meant plenty of Monacos could be provided to Donald Nunley, the property master on the 1971 motor-racing film Le Mans, in which Hollywood star Steve McQueen wore one with his racing...
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
...Then, last week, fellow start-ups Rivian and Lucid Motors also announced lacklustre results, sending their shares tumbling....
...In 2023, Turkish Airlines’ revenue rose almost 14 per cent to $21bn, placing it within the ranks of top-10 global air carriers by sales, according to FactSet data....
...Sales grew by 55 per cent between January 2022 and January 2023....
...Additional reporting by Eung Sea A version of this article was first published by Nikkei Asia on March 12. ©2024 Nikkei Inc. All rights reserved....
...The company disclosed it had sold off its remaining position in carmaker General Motors during the three months to the end of September, an investment that was worth roughly $850mn in the previous quarter...
...The gulf with Stellantis could not be starker....
...Under the deal announced on Tuesday, CRH will acquire a 2.1mn tonne capacity cement plant between San Antonio and Austin, a network of terminals along the eastern gulf coast of Texas and a portfolio of 20...
...The deal comes as Morrisons seeks to improve its sales performance under new chief executive Rami Baitiéh and service its £5.5bn net debt pile following sale-and-leaseback deals on some of its properties...
...Earthjustice, a climate group that has previously sued the Biden administration for a lease sale in the Gulf of Mexico, said it would continue to work with Gulf coast communities to challenge new leasing...
...Tesla, General Motors and Rivian all reported strong US sales and deliveries for EVs during the second quarter, as did BYD in China....
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