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...A version of this article was first published by Nikkei Asia on May 1. ©2024 Nikkei Inc. All rights reserved....
...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...
...Morgan Stanley’s autos analyst has been moved to aphorise by Elon Musk’s surprise visit to Beijing....
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...“It will be a European-market Seagull, a new Seagull,” BYD senior executive Stella Li told reporters, including the UK’s Auto Express, in Shenzhen....
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...The company disclosed that its auto insurer Geico had passed along higher rates to customers and had suffered fewer claims, lifting its results....
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...That would put Tesla’s auto profitability back to where it was in 2017, shortly after the launch of the Model 3. Will the margin guidance be any better? And even if it is, will it be believed?...
...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....
...Tu Le, founder of the Sino Auto Insights consultancy, said local rivals including Xpeng, Nio and Li Auto had their own self-driving systems and would drop their prices “the second” they thought consumers...
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...This shift will have major ramifications for both the auto industry and the energy sector.”...
...Younger shoppers’ penchant for Apple Pay, auto-fill payments and buy now, pay later services is eroding the company’s share of the online payment market it once dominated. Growth has sputtered....
Also in this week’s newsletter, the Detroit Lions roar back and Real Madrid top football rich list
...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....
...Bernstein auto analyst Daniel Roeska said the company’s raising of profit expectations was “Groundhog Day”....
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