Hints and tips:
Related Special Reports
...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”....
...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....
...As one senior executive at a global auto company told me, if the Chinese sell an EV that is just as good as a western car, but cheaper, that is one thing....
...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.”...
...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...
...“It has now caused a major headache for auto companies that rely on these ships....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...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....
...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....
...share gains, especially as the legacy Western OEMs have struggled mightily on cost....
...“In order to retain market share western carmakers have to slash prices as well.”...
...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...
...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....
...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...
...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....
...In 2017, Hyundai invested $1.15bn in a new factory in Chongqing, south-western China, with the goal of reaching an annual output of 300,000 internal combustion engine cars....
...“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....
...For their part, Chinese auto executives are pushing back at what they regard as western protectionism....
...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....
...Lotus plans to produce electric SUVs at its new production line in Wuhan, in central China, that it believes will help it expand sales from just a few thousand to 150,000 by 2028....
International Edition