carsales
The recall covers nearly 600,000 vehicles made in China between 2005 and 2017 and more than 750,000 imported vehicles made between 2003 and 2018, the Chinese State Administration for Market Regulation said. It includes a wide range of models, from series 1 to series 6 cars and the X1, X3, X4, X5 and X6 SUVs. A small number of vehicles in the recall may have Takata inflators if the owner changed the steering wheel, the Chinese regulatory body said. The inflator can explode when the airbag deploys, sending fragments into the car and injuring the occupants, it said. Takata airbag inflators have b...
Euronews (English)
Mercedes-Benz AG, the renowned German luxury automaker, reported a decline in revenue for the last quarter and issued a profit guidance that fell short of expectations, as the company anticipates continued weak customer demand for the rest of the year. Shares of Mercedes-Benz AG dropped more than 2% at the market open in Frankfurt to €61, reaching their lowest level since late January 2024. Revenue for the second quarter of 2024 stood at €36.7bn, down from €38.2bn in the same period last year and below analyst predictions of €37.2bn. The cars division achieved a 10.2% return on sales during th...
Euronews (English)
French-Italian-American automotive giant Stellantis released its first half 2024 earnings on Thursday, reporting a net profit of €5.6bn, which was 48% less than the first half of 2023. Net revenue for the first half of the year was €85.0bn, which was 14% less than the corresponding period last year. The adjusted operating income (AOI) was €8.5bn for H1 2024, which was €5.7bn lower than the first half of 2023, with the AOI margin for H1 2024 being 10%. The margin was supported by decreases in workforce, direct materials and logistics costs. Stellantis’ management has also reassured investors th...
Euronews (English)
Last year Renault sold 1,133,478 vehicles globally with almost three-quarters of that being European sales, and this year the company has sold 1,154,700 vehicles. The company had even bigger gains in some of its key markets like Europe which saw a 6.7% increase in sales, outpacing the current market growth of 5.5%. Furthermore, the company’s electric vehicles accounted for 29.6% of sales in the region, which is 4.3% more than the previous year. Renault returned to growth in 2023, after 4 years of declining unit sales, and they are hoping that 10 new vehicle launches this year will help keep th...
Euronews (English)
Aston Martin has unveiled its new Valiant sports car, designed in partnership with Spanish racing driver and two-time world champion, Fernando Alonso. The cars, of which there are only 38 in the world, are thought to cost around £2 million per unit (€2.37 million), excluding tax in the UK. Aston Martin has confirmed that all of the cars have already been pre-sold, and that deliveries will begin in the fourth quarter of this year. This will follow the public presentation of the car at the Goodwood Festival of Speed in July. Fernando Alonso, who is currently competing for Aston Martin in Formula...
Euronews (English)
The Chinese electric car company saw sales rise 116.1 percent from the previous year. Q1 2021 hedge fund letters, conferences and more NIO's Record SalesThis is the first time the company has delivered more than 8,000 vehicles in a single month, up 20.4 percent compared with May, data released by the company on Thursday showed. NIO Inc (NYSE:NIO) delivered 21,896 vehicles in the second quarter, up 111.9 percent year-on-year and marking five consecutive quarters of positive growth. That was close to the upper end of the company's previous guidance for the second quarter. NIO delivered 41,956 un...
ValueWalk
Here’s a pop quiz for you: In what year did Tesla shoot up nearly 4X, as shown in this chart?Q3 2020 hedge fund letters, conferences and moreI know, it looks like Covid’s meteoric rally, but the correct answer is 2013.A year after Tesla rolled out its first electric sedan, Tesla S, its stock soared 360%. But investors quickly realized Tesla was way ahead of its time and gave out. For the next six years, Tesla stock went nowhere.It appears that investors are again putting Tesla in a similar situation. They’ve bid up the stock to a price that suggests it will sell more cars than is even theoreti...
ValueWalk
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