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...The carmaker is developing a cheaper vehicle to go on sale late next year, but has not yet said where the car — which has been dubbed “Model 2” by Tesla observers — will be manufactured....
...The retail business’s profit margin was 2 per cent last year, compared with 5.8 per cent for the group as a whole over the same period....
...Excluding the effects of regulatory credits, the gross margin from its automotive unit — a closely watched measure of its core operations — fell to 16.4 per cent for the quarter, down from 19 per cent a...
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...Spending on R&D reached nearly 8 per cent of revenue last year, up from just over 2 per cent a decade ago....
...The purchase was done in stages, with Berkshire initially buying a 38.6 per cent interest in 2017 for $2.8bn before spending a further $8.2bn last year for another 41.4 per cent, boosting its total stake...
...Excluding the effects of regulatory credits, the gross margin from Tesla’s automotive unit — a closely watched measure of its core operations — increased to 17.2 per cent for the quarter, slightly ahead...
...His $2.6bn investment came as the shale revolution was transforming the US into the world’s largest oil producer....
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...According to Mastercard SpendingPulse, which measures activity in stores and online across all forms of payment, US retail sales on Friday excluding automotive categories were up 2.5 per cent year on year...
...It will reach $2.83bn in the US and $458mn in China by 2027, Omdia predicts....
...The US electric-vehicle maker Rivian said it will make 2,000 more trucks, vans and SUVs than originally planned this year, accelerating output after improvements along its production lines in the second...
...The unit recorded sales of ¥185bn, not including subsidies, compared with ¥2.1tn for the entire group....
...“In the automotive space, not everyone can win,” and right now, it is “the Wild West out there”....
...A version of this article was first published by Nikkei Asia on January 26. ©2024 Nikkei Inc. All rights reserved....
...The other [opportunity] is automotive. We have built a very strong position in automotive with our Snapdragon digital chassis and the immersive digital cockpit....
...In the first half of this year, Chinese-made vehicles accounted for 11.2 per cent of EVs sold in Germany, according to a brief by the Center for Strategic and International Studies this month....
...The company’s gross profit margin from automotive operations, excluding the effect of regulatory credits, dropped to 18.2 per cent in the past three months....
...The combined market share of Nissan and Renault in India dropped from 3 per cent in June 2022 to 2 per cent in July 2023....
...Among other funds to have profited on Rivian are Daniel Sundheim’s D1 Capital and Philippe Laffont’s Coatue Management, which both invested during a $2.5bn funding round this summer, as well as London-based...
...Price cuts of approximately 12-15 per cent led automotive revenues to fall 7 per cent....
...That year supply chain snarls and inflation sent them skyrocketing to almost $2,000, before falling to what Van Meerbeke called still “very healthy” levels around $866 this month....
...The US electric-car maker signed a $2.9bn order for L&F to supply battery materials through into 2025....
...The company’s shares fell as much as 11.2 per cent in morning trading on Monday, but recovered some ground to close 7.3 per cent lower at a three-month low of $31.48....
...The group says it has more than 2.4mn subscribers to its free emails and, through its local news networks, plans to expand to 25 American cities this year....
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