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...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....
...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....
...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”....
...They allow carmakers to increase automation in factories without making expensive changes to their layout, because the robots can walk through spaces designed for people....
...Hong Kong-listed shares in Chinese electric-vehicle maker Li Auto dropped 7 per cent on Friday, after the company slashed its January-March sales volume forecast due to lower than expected order intake....
...Shares in Li Auto dropped 6.1 per cent after the company announced new price cuts across its line-up on Monday morning in an effort to boost slowing sales growth....
...This shift will have major ramifications for both the auto industry and the energy sector.”...
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...For now, “volatility is low, markets have been fairly buoyant, inflation feels like it’s more in check and people are now fixed on rate cuts for June, and there’s a pretty big backlog”, said Lyle Schwartz...
...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...
...Tesla’s sales figures also “suggested a sharp deterioration in growth” in the US, said Tom Narayan, an auto analyst at RBC Capital Market, while the Model Y and 3, which account for more than 90 per cent...
...The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year, according to data pooled from suppliers and forecasters by one auto investor....
...Tesla has cut prices several times — including this week — to buoy sales, although this has led to a collapse in the re-sale value of its cars....
...“This is a tax on people who can least afford it, people who drive long distances to get to work . . . They want to take away your gas car....
...“It has now caused a major headache for auto companies that rely on these ships....
...“The public is saying ‘we’re on their side,’ which I think took many people by surprise, including many Republican elected officials,” Wheaton said....
...In 2014, German carmaker Daimler introduced a function to auto-delete emails received while employees were on vacation, with a notification to the sender....
...“Being a latecomer can also bring a sense of freshness to people,” said auto analyst de Feijter. “China’s EV market is still very dynamic . . . there is enough space for a new brand to grow.”...
...In the midst of declining auto sales and rising interest rates, Carvana completed a debt restructuring last year, agreeing with bondholders such as Apollo Global Management to delay near-term cash interest...
...The pressure is especially high in China, the world’s biggest auto market and the US EV maker’s second-largest market by sales, where competition between local EV makers and foreign carmakers is heating...
...Analysts said the ongoing price war in China’s auto market could lead to a vicious cycle. “In the case of China, when the price is lower, people think, ‘wait a minute....
...Regarded as one of China’s biggest challengers to Tesla, Nio has not turned a profit almost a decade after its founding, and is lagging behind local peers such as Li Auto and BYD in sales growth....
...At least he possesses the self-awareness to acknowledge it: “At each stage of this life, of this race against myself, I’ve had to break with people I loved in order to move forward.”...
...Europe’s auto companies should be using it to catch up with more competitive Chinese rivals. Read more here. There are no certainties in life....
...The world’s biggest tech show is also a major auto expo, with South Korea’s Kia and Hyundai, Honda of Japan and Mercedes-Benz of Germany all taking part along with numerous suppliers....
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