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...Among premium services popular with middle-class Chinese consumers are free designated drivers and shared office spaces, as well as free repairs....
...Scaringe said that executives at the company still “firmly believe in the full electrification of the auto industry, but recognise in the short term the challenging macroeconomic headwinds”....
...Meanwhile, car insurance and auto repair shot up 2 per cent and 3 per cent, respectively, in March....
...While fewer owners were making warranty claims, “the cost for repair has gone up” because of inflation. “The earnings are strong right now,” Jacobson said....
...Morrow, the third generation of his family to run the business, said that relatives had worried in the past that changes to vehicle construction might make cars and trucks harder to repair, dampening the...
...Citi was also a leader on a $310mn loan to Sunbit, a buy-now, pay-later company that specialises in auto repair shops and dentist offices....
...There were two other instances of reported violence at picket lines in Massachusetts and California, including truck drivers reportedly pointing guns at picketers....
...EVs were facing higher incidents of accidents and damage that were more costly to repair than expected....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...“It’s an impressive beast, but it’s a beast,” said Philippe Houchois, an auto analyst at Jefferies who was one of the handful selected to try it....
...Anxieties over electric vehicle manufacturing — which requires fewer workers than making internal combustion cars — have featured prominently in contract talks with the United Auto Workers union, which went...
...That means fewer trucks and a smaller carbon footprint for retailers....
...cars and trucks....
...If the whole underside had to be replaced, it would lead to a significant rise in the number of vehicles deemed too costly to repair....
...Across town, the electric-truck maker has opened a high-end showroom in New York’s Meatpacking District. The storefront is a 10-minute walk from Lucid Motors’ showroom in the same trendy hamlet....
...I would say it’s being in the auto industry.” The company now was emphasising “design for manufacturability”, he said....
...The underlying trends here are much weirder than a simple price war, as they include a new law in Florida, pricier car repairs, and possibly a TikTok trend....
...We think of companies like Toyota, of course, in the auto sector, you think of SoftBank in tech and Sony obviously in entertainment....
...Berkshire’s insurance results stood out in an industry that has struggled with higher costs to repair or replace automobiles, and the string of catastrophic storms that caused billions of dollars in property...
...It was subsequently amended to correct the sales growth of Leapmotor and the unit sales of Ora. ©2023 Nikkei Inc. All rights reserved....
...US auto industries did consolidate and grow over the following 15 years . . . in part because of government demand amid extremely troubling global events....
...Until now, however, auto sales have been dominated by pick-up trucks, which account for more than 40 per cent of new vehicle sales. Toyota models make up a third of all vehicles in the country....
...The union is demanding universal pay rises, the end of the existing two-tier pay system, and the installation of air conditioning into trucks, among other things....
...One of Berkshire’s crown jewels, the Geico auto insurer, swung to an underwriting profit after six consecutive quarters of losses....
...But Scaringe told investors on Wednesday that 83 per cent of those repairs had already been made and reaffirmed Rivian’s production guidance, which it had halved in March....
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