Chinese Carmakers Near 10% UK Share After Fivefold BYD Surge
Brands whose vehicles are manufactured in China cornered 9.4% of the British new car market in May, up from 7.7% the month earlier, according to data from the Society of Motor Manufacturers & Traders trade body.
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Boston Globe
22 minutes ago
- Boston Globe
Shopping for school supplies becomes a summer activity as families juggle technology and tariffs
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Retail and technology consulting company Coresight Research estimates that back-to-school spending from June through August will reach $33.3 billion in the U.S., a 3.3% increase from the same three-month period a year ago. The company predicted families would complete about 60% of their shopping before August to avoid extra costs from tariffs. Advertisement 'Consumers are of the mindset where they're being very strategic and conscientious around price fluctuations, so for back to school, it prompts them to shop even earlier,' said Vivek Pandya, lead analyst at Adobe Digital Insights, the research division of software company Adobe Inc. Getting a head start Miami resident Jacqueline Agudelo, 39, was one of the early birds who started shopping for school supplies in June because she wanted to get ahead of possible price increases from new U.S. tariffs on imported products. Advertisement The teacher's supply list for her 5-year-old son, who started kindergarten earlier this month, mandated specific classroom items in big quantities. Agudelo said her shopping list included 15 boxes of Crayola crayons, Lysol wipes and five boxes of Ticonderoga brand pencils, all sharpened. Agudelo said she spent $160 after finding plenty of bargains online and in stores, including the crayons at half off, but found the experience stressful. Kylie and Cash Zimmerman shop in the back-to-school supplies section of a Target in Sherwood, Ore., Friday, Aug. 8, 2025. Jenny Kane/Associated Press 'I am overwhelmed by the need to stay on top of where the deals are as shopping has become more expensive over the years,' she said. A lot of the backpacks, lined paper, glue sticks — and Ticonderoga pencils — sold in the U.S. are made in China, whose products were subjected to a 145% tariff in the spring. Under the latest agreement between the countries, Chinese goods are taxed at a 30% rate when they enter the U.S. Many companies accelerated shipments from China early in the year, stockpiling inventory at pre-tariff prices. Some predicted consumers would encounter higher prices just in time for the back-to-school shopping season. Although government data showed consumer prices rose 2.7% last month from a year earlier, strategic discounting by major retailers may have muted any sticker shock for customers seeking school supplies. Backpacks and lunchboxes, for example, had discounts as deep as 12.1% during Amazon's Prime Day sales and competing online sales at Target and Walmart in early July, Adobe Insights said. Throughout the summer, some of the biggest chains have are advertising selective price freezes to hold onto customers. Advertisement Walmart is advertising a 14-item school supplies deal that costs $16, the lowest price in six years, company spokesperson Leigh Stidham said. Target said in June that it would maintain its 2024 prices on 20 key back-to-school items that together cost less than $20. An analysis consumer data provider Numerator prepared for The Associated Press showed the retail cost of 48 products a family with two school age children might need — two lunchboxes, two scientific calculators, a pair of boy's shoes — averaged $272 in July, or $3 less than the same month last year. Digital natives in the classroom Numerator, which tracks U.S. retail prices through sales receipts, online account activity and other information from 200,000 shoppers, reported last year that households were buying fewer notebooks, book covers, writing instruments and other familiar staples as students did more of their work on computers. The transition does not mean students no longer have to stock up on plastic folders, highlighters and erasers, or that parents are spending less to equip their children for class. Accounting and consulting firm Deloitte estimates that traditional school supplies will account for more than $7 billion of the $31 billion it expects U.S. parents to put toward back-to-school shopping. Shopping habits also are evolving. TeacherLists, an online platform where individual schools and teachers can upload their recommended supply lists and parents can search for them, was launched in 2012 to reduce the need for paper lists. It now has more than 2 million lists from 70,000 schools. Users have the option of clicking on an icon that populates an online shopping cart at participating retail chains. Some retailers also license the data for use on their websites and in their stores, said Dyanne Griffin, the architect and vice president of TeacherLists. Advertisement The typical number of items teacher request has remained fairly steady at around 17 since the end of the coronavirus pandemic, Griffin said. 'The new items that had come on the list, you know, in the last four or five years are more the tech side. Everybody needs headphones or earbuds, that type of thing, maybe a mouse,' she said. She's also noticed a lot of schools requiring clear backpacks and pencil pouches so the gear can't be used to stow guns. Enter artificial intelligence For consumers who like to research their options before they buy, technology and retail companies have introduced generative AI tools to help them find and compare products. Rufus, the AI-powered shopping assistant that Amazon launched last year, is now joined by Sparky, an app-only feature that Walmart shoppers can use to get age-specific product recommendations and other information in response to their questions. Just over a quarter of U.S. adults say they use AI for shopping, which is considerably lower than the number who say they use AI for tasks such as searching for information or brainstorming, according to an Associated Press-NORC Center for Public Affairs Research poll in July. Some traditions remain Before the pandemic turned a lot more people into online shoppers, schools and local Parent Teacher Associations embraced the idea of making back-to-school shopping easier by ordering ready-made bundles of teacher-recommended supplies. An extra fee on the price helped raise money for the school. Market data from Edukit, a supplier of school supply kits owned by TeachersList parent company School Family Media, shows that about 40% of parents end up buying the boxes, meaning the other 60% need to shop on their own, Griffin said. She noted that parents typically must commit no later than June to secure a bundle, which focus on essentials like notebooks and crayons. Advertisement Agudelo said her son's school offered a box for $190 that focused on basics like crayons and notebooks but didn't include a backpack. She decided to pass and shop around for the best prices. She also liked bringing her son along for the shopping trips. 'There's that sense of getting him mentally prepared for the school year,' Agudelo said. 'The box takes away from that.'
The Drive
an hour ago
- The Drive
The GP1 Looks Like a Greatest Hits Album of Analog Supercars
The latest car news, reviews, and features. A British outfit called Garagisti & Co. is making some waves this week with gorgeous renderings of its super-limited, super-expensive hypercar called the GP1. The design is supposed to be inspired by 'icons of the '80s, '90s, and early 2000s,' and the spirit is all old-school sports driving awesomeness. Non-turbo V12, six-speed manual, rear-wheel drive, and an interior like a midcentury modern psychiatrist's office. Or maybe I'm just projecting that last bit—because it looks like driving this thing would be deeply therapeutic after being bombarded by screens in any other modern vehicle. The car looks complete in these images, and looking at them on a small screen, I thought they were photos at first myself. But the company's press release confirms that they are, in fact, digital renders. Garagisti & Co. states that the car is 'now in advanced stages of engineering and production.' I'm guessing the company's people wanted to roll out the idea to be part of the hypercar hype-wave that is Monterey Car Week, which is currently underway. Unfortunately, few of us will ever see one of these in person anywhere, let alone drive it, as the GP1's creators are only planning to make 25 and charging over $3.3 million (£2.45 million, to be exact) each. Still, it's a very pretty interior and exterior design that simultaneously looks unique while reminding me of a few different cars in the elite class of low-production performance machines. I see a lot of Ford GT, some Lamborghini, Lancia, some Ferrari … any elements look particularly familiar to you? Garagisti & Co. has some big-name supplier collaborators, like Brembo (brakes), Öhlins (suspension), and Xtrac (transmission). But the fact that it's making a 'completely new and bespoke' engine is exceptionally wild. And probably a big part of why the price is so high. I think it's madness to make an entirely custom engine just for 25 cars—how the heck is anybody supposed to find parts for this in five years? Very cool, extremely impractical. I guess that's what cars at this level are kind of all about, though. Garagisti & Co. The V12 will have 6.6 liters of displacement, rev to 9,000 rpm, and claim 800 horsepower (and 'over' 516 lb-ft of torque). Since the car is only supposed to weigh 2,200 pounds (dry), that should be enough juice to enter orbit. It's not clear where the motor's at in development, but conceptually, it sounds awesome. So does the ethos behind the whole project. 'Our vision for Garagisti was born from a simple question,' said Garagisti & Co. co-founder Mario Escudero in a press release. 'What if the golden age of analogue supercars never ended? What if icons like the Countach Evoluzione had sparked a lineage rather than a dead-end? What would the great cars of the '80s, '90s and early 2000s look like today if they'd evolved with new technology but kept their analogue soul? We brought together some of the best minds in the world and answered that question with our hands, our hearts, and our passion. The GP1 is our answer.' Swipe through here to see some more renders of this magnificent beast: The company describes itself as 'a coalition of specialists, not generalists,' listing out key collaborators: I like this trend of super-fancy cars leaning into the ideas of tactility and analoginess. Here's hoping the notion trickles back down to more basic brands and old-world warmth makes a comeback over the kitchen appliance aesthetic so many mid-range cars are leaning into these days. Got a tip? Send us a note at tips@
Yahoo
an hour ago
- Yahoo
UMAC Gears Up to Report Q2 Earnings: What's in the Offing?
Unusual Machines UMAC is scheduled to release second-quarter 2025 results on Aug. 14, after market close. The company delivered a negative earnings surprise of 75% for the first quarter of 2025. Unusual Machines, Inc. Price and EPS Surprise Unusual Machines, Inc. price-eps-surprise | Unusual Machines, Inc. Quote UMAC's Q2 Expectations The Zacks Consensus Estimate for revenues is set at $2.1 million, implying 50.4% growth from the year-ago quarter's actual. The U.S. commercial drone market is anticipated to grow, seeing a CAGR of 12.5% from 2024 to 2033. We expect this expanding market to boost demand for secure and high-octane unmanned aerial systems across different sectors in the United States, aiding UMAC's top line. The Drones of America Act, introduced in the Senate on June 25, aimed at banning Chinese components, is anticipated to have benefited UMAC in terms of contract growth. An increasing number of government agencies and infrastructure providers adhering to the National Defense Authorization Act and the Blue UAS Framework is likely to have favored domestic manufacturers, supporting UMAC's growth. The consensus estimate for loss is pegged at 7 cents per share, whereas it incurred a loss of 16 cents a year ago. What Our Model Says About UMAC Our proven model does not conclusively predict an earnings beat for Unusual Machines this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. UMAC has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can see the complete list of today's Zacks #1 Rank stocks here. Earnings Snapshot Gartner, Inc. IT reported second-quarter 2025 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. IT's adjusted earnings per share of $3.53 beat the Zacks Consensus Estimate by 4.4% and increased 9.6% from the year-ago quarter. Revenues of $1.7 billion beat the consensus estimate by a slight margin and improved 5.7% year over year. IQVIA Holdings Analytics Inc. IQV posted impressive second-quarter 2025 results. IQV's adjusted earnings were $2.81 per share, beating the Zacks Consensus Estimate by 1.8% and rising 6.4% on a year-over-year basis. Total revenues of $4 billion surpassed the consensus estimate by 1.5% and grew 5.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Gartner, Inc. (IT) : Free Stock Analysis Report IQVIA Holdings Inc. (IQV) : Free Stock Analysis Report Unusual Machines, Inc. (UMAC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
