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...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 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...
...Wingefors is dismantling his empire just weeks after insisting that Embracer’s restructuring had ended with March’s $460mn sale of Gearbox to Take-Two, the US-based games group behind Grand Theft Auto....
...“Xiaomi Auto is striving for the ascendancy of China’s auto industry,” Lei said....
...The lull in EV sales is having a damaging impact on the auto industry....
...Golf clubs have also begun more strictly examining suspicious payments, she added, while membership prices have come down, with joining fees at Sentosa Golf Club falling from about S$950,000 to S$850,000...
...Yet sales, the same data set predicts, will lag even further behind. EV interest last year resulted in sales of 9.5mn vehicles, but the figure is only expected to be 9.8mn this year....
...Hyundai Motor Group, which owns the Hyundai, Kia and Genesis brands, also has the fourth-largest share of the overall US car market, behind Toyota, Ford and GM, according to sales data from S&P Global....
...The S&P 500 hit a new record last week, in part down to the rosy economic outlook....
...Tesla’s domestic rivals announced similar discounts earlier this month to boost sales....
...But you can pick apart any data release that you want, whether it is non-farm payrolls or inflation or retail sales or something like auto loans and household debt and all that stuff....
...Rising auto and credit card delinquencies weighing on sales for consumer staples are the most recent item in a list that includes depressed existing home sales, more corporate defaults and contracting profits...
...Analysts had expected profits of ¥925.6bn, according to S&P Capital IQ....
...Who are the shareholder(s) behind the suit? The lead plaintiff is an individual, Richard J....
...Pham Nhat Vuong, chair of VinFast Auto, has added billions of dollars to his net worth thanks to the success of the Vietnamese electric-vehicle maker’s New York listing....
...Some players in the auto industry want to slow the electric transition....
...In addition, its global car sales have continued to decline despite steady progress reforming business and introducing new models....
...Economic data: The Conference Board will release its consumer confidence index for September, while new US home sales and the S&P CoreLogic Case-Shiller index of house prices in 20 big metropolitan areas...
...Another knock — rising delinquencies on card and auto loans — may be misleading too, argues Zandi....
...Chinese EV companies have an extensive home market, which even European auto giants, notably German ones, depend on....
...Subprime auto loan delinquencies have hit a multi-decade high. Citigroup’s third-quarter call mentioned “cracks” among card customers with lower credit scores....
...But the outlook for Chinese auto sales has been improving. Production expanded 13.5 per cent to nearly 2mn units in February. Nanjing’s shares reflect expectations those numbers will rise further....
...China: November CPI and producer price index (PPI) inflation rate data EU: European Central Bank Economic Bulletin UK: Rics House Price Balance Results: 3i Group H1, ArcelorMittal FY, AstraZeneca Q3, Auto...
...Economic data: Economists expect existing home sales to have ticked up in August....
...Since it launched the Model S in 2012, Tesla sales have been of sedans and SUVs. But pick-ups take it into the industry’s real gold mine....
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