Hints and tips:
Related Special Reports
...The company is preparing to cut roughly 250 roles across the UK, or about one in 20 roles, as a result of the move, the people added. Pendragon employed some 5,500 people in the UK....
...Auto sales, which rose 12 per cent over 2023, are one sign of lower prices supporting demand, though Loo said the auto data had been “volatile”....
...This drives scarcity and increases both its prices and the resale value of its cars, helping the company enjoy the best margins in the auto industry....
...These included a one-off dividend of $3.5bn from Fiat Chrysler ahead of the merger with PSA to form Stellantis in 2020 to equalise the value of the combining companies....
...— Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...UAW president Shawn Fain has said that he plans to organise more than two dozen additional auto plants across the southern US, including a Toyota plant in Missouri and a Nissan one in Mississippi....
...Its shares fell about 5 per cent....
...Shares in the company, which declined 5.6 per cent on Monday, have fallen more than a third this year, making it the second-worst performer in the S&P 500 and underperforming those of legacy carmakers....
...Einhorn’s Greenlight Capital, which owns 3.5 per cent of Vitesco, on Monday sent a letter to the Regensburg-based company, calling on its board to reject Schaeffler’s €91-per-share offer and “not to give...
...One in three workers are already on track for a retirement income that will make it difficult to afford the basics (Scottish Widows National Retirement Forecast 2023)....
...General Motors said the US carworkers’ strike was costing it approximately $200mn a week, an estimate that is set to rise after 5,000 members of the United Auto Workers union walked out of one of its largest...
...Goldman Sachs says the United Auto Workers strike is just one — and possibly the smallest — of three nasty “potholes” that US economic growth faces next quarter....
...Here’s more on the trial results. 5....
...The business had about 5,000 pre-orders for vehicles, and had begun delivering finished trucks to some customers across Europe, with plans to scale up manufacturing....
...It is not the first time this year that Wolf, who owns 5 per cent of Vitesco and sits on the supervisory board of Schaeffler, has faced scrutiny....
...It had ambitions of making 1mn cars by 2025 but, instead, last year sold about 900 units of the Hengchi 5, its only EV model on the market....
...“One way or another, these two forces have to meet.”...
...For all banks, shadow bank financing now makes up more than 6 per cent of all loans, putting it just above auto loans at 5 per cent, and just below credit cards, which crossed $1tn for the first time just...
...The electrification of the auto industry affects more than the workers and companies that build cars. It ripples out to the ones wrenching them apart....
...That is a long way from the 0.5 TWh that was sold last year. But any hoped-for boost for the miners has seemingly gone flat....
...The three carmakers have proposed, over the life of the contract, pay increases for their workers ranging from 9 per cent to 14.5 per cent, with one-time payments that range from $10,500 to $12,000....
...One way to visualise it is looking at the past three months of too-hot CPI data, which was driven not just by shelter but also roaring price increases in auto and hospital services....
...The auto industry is one of the more heavily unionised parts of the US economy — and United Auto Workers are striking in part to ensure that remains the case, even as the transition to electric vehicles...
...Forvia, which ranks itself as the world’s seventh biggest auto technology supplier, said it was clamping down on costs in Europe in part to cope with “the arrival of newcomers from Asia.”...
...VW’s confirmation of possible partnership talks came as it said that it expected sales growth to slow to 5 per cent this year, from 15 per cent in 2023....
International Edition