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...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....
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...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...
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...“It has now caused a major headache for auto companies that rely on these ships....
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...Your default choice would typically be to run a “dual track” process exploring a public listing alongside a sale — and then select whichever exit path will maximise your financial return....
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...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....
...“Xiaomi Auto is striving for the ascendancy of China’s auto industry,” Lei said....
...Among those concerned about a swift rollout of electric vehicles is the United Auto Workers union, which has endorsed Biden for 2024....
...The slowing pace of sales growth has fuelled expectations among auto executives for a wave of consolidation that will leave only a handful of companies in the world’s largest car market....
...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....
...Excluding petrol and autos, sales were up 0.6 per cent. October’s sales figure was revised to a decrease of 0.2 per cent from a fall of 0.1 per cent....
...It was something tenable on the horizon, so was a reason to look past the current EV sales slump....
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...In the third quarter, hybrid sales increased 47 per cent year on year to 951,000, as total vehicle sales rose 10 per cent....
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