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...In 2021, the buyout group moved its holding in CAA into a new fund backed by three large investors as an alternative to a listing or a full sale....
...The challenge pursues a novel definition of “accessible luxury”, as distinct from the types of brands that the truly wealthy prefer....
...Say Kwee Neng, a car industry consultant, said sales of luxury and super-luxury brands had also come under more scrutiny, on top of a targeted tax rise introduced last year....
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...The lull in EV sales is having a damaging impact on the auto industry....
...Less than two years into entering Thailand, the region’s second-biggest auto market, BYD holds the position as the biggest EV maker and the third-largest automaker for the overall passenger car market, according...
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...Investors have awarded higher valuations to pure-play EV makers such as Tesla and the luxury-car maker Ferrari than to other traditional manufacturers....
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...“A project that would take six months will now take 12,” said Brett Harris, executive director of luxury sales at real estate firm Douglas Elliman....
...Monthly sales of plug-in hybrid and pure battery cars in China rose above 1mn for the first time in November, according to data from Automobility, a Shanghai consultancy....
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...Pham Nhat Vuong, chair of VinFast Auto, has added billions of dollars to his net worth thanks to the success of the Vietnamese electric-vehicle maker’s New York listing....
...Tesla, the leader in EV sales, has fired workers who have attempted to organise in its US plants....
...Porsche on Wednesday warned that luxury brands were not immune to subdued spending as the company prepared to raise prices on its cars in China amid slowing sales....
...Lourd was a key intermediary in bringing Pinault’s interest in the agency to TPG, which hadn’t been actively pursuing a sale....
...Garcia, 41, is the billionaire co-founder and chief executive of Carvana, the online seller of pre-owned autos....
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