Latest news with #ShanghaiMotorShow
Yahoo
07-05-2025
- Automotive
- Yahoo
BMW Q1 profit falls 26.4% on weak China sales, 2025 outlook held
A BMW 7 is showcased at the Shanghai Motor Show, one of the world's leading automotive exhibitions where manufacturers debut their latest innovations. Johannes Neudecker/dpa German carmaker BMW reported a 26.4% drop in first-quarter net profit to €2.2 billion ($2.5 billion), as weak demand in China weighed on earnings. Revenues fell 7.8% to €33.8 billion as global vehicle deliveries dropped 1.4% to 586,000 units, driven by a decline in China amid intense market competition. "Given the sustained demand for its attractive premium vehicles, the BMW Group is able to confirm its guidance for the year," the company said in a statement. However, it added that due to the volatile developments and ongoing negotiations around US President Donald Trump's new tariff policy, the potential impact of tariffs in 2025 can "only be estimated, based on assumptions." Despite the sharp profit decline, BMW performed better than domestic rivals: Mercedes-Benz reported a 43% profit drop to €1.7 billion, while Volkswagen, Germany's top carmaker, posted a 41% profit decline to €2.2 billion. "Stable financial performance and effective cost management characterized the first quarter despite the challenging environment," chief financial officer Walter Mertl said, adding that BMW will continue to optimize its efficiency and cost structures. Industry sentiment remains poor, with the ifo Institute's business climate index for the automotive sector deep in negative territory. Export expectations have fallen and companies see their global competitiveness outside the EU worsening.
The Citizen
07-05-2025
- Automotive
- The Citizen
WATCH: Jetour T2 Puts its strength to the test in Shanghai
We had the privilege of seeing the Jetour T2 in action at the Chuansha Automobile Test Drive experience Centre in Shanghai. The Citizen was invited to the Jetour International Business Annual Conference 2025, where we had the opportunity to experience the capabilities of the Jetour T2. The Jetour T2 at an exclusive test drive in Shanghai. Picture: Shaun Holland In this video the instructor shows us the seven driving modes on the screen, which by the way, looks like amazing quality. He also speaks about the strength and safety of the Jetour T2. A picture of the interior of a Jetour T2 at an exclusive test drive in Shanghai. Picture: Shaun Holland The Jetour T2 is set to launch in South Africa towards the end of 2025. Our Local line-up will comprise four models with a choice of two engines, and a reported starting price below R700 000. ALSO WATCH: Jetour G700 shows its face at Shanghai Motor Show
Boston Globe
02-05-2025
- Automotive
- Boston Globe
Tesla is too important to fail. That means Musk has to go.
Meanwhile, China hosted the Shanghai Motor Show, now considered the world's biggest and most important. It featured a slew of colorful and innovative EVs, from family cars up to high-end luxury models. Thanks to multiple rounds of prohibitive tariffs imposed But they can buy Teslas. Unfortunately, that appeals to fewer people than it used to, because Musk has tainted Tesla's brand. Get The Gavel A weekly SCOTUS explainer newsletter by columnist Kimberly Atkins Stohr. Enter Email Sign Up From Boston to San Francisco to Ann Arbor, Mich., where I live, regular protests are taking place at Tesla dealerships, with marchers toting signs reading, 'Boycott Tesla' and 'Fire Musk.' Dealers have hired security guards to keep their driveways clear. Advertisement Only a few years ago, Tesla's new vehicles attracted a different crowd. Musk's avid bro fan base placed thousands of preorders, while eager investors drove up the price of Tesla stock, making the company far more valuable on paper than its venerable automotive rivals. But those days are over. As the pickets have swelled, Tesla's stock has plummeted as much as 50 percent from its Advertisement Its first-quarter results were a disaster. At a company long used to growth, its automotive revenue plunged 20 percent, The slant-sided Cybertruck generates snickers. Some owners have dumped their Teslas and others have Even a cringeworthy sales pitch by Donald Trump on the White House driveway didn't help. 'There's only one person to point the finger of blame at,' says Robby DeGraff, the manager of product and consumer insights at AutoPacific, a research firm that tracks industry trends. 'It's time for the automaker to clean house.' The mess is a shame. As America's flagship EV company, Tesla is worth saving. It's about something larger than Musk, who didn't invent this line of cars — he joined the company when it was already a going concern. America cannot stall in joining the rest of the world in shifting away from gasoline-powered cars. And whether we like it or not, Tesla is still the best option for EVs. Detroit's big three automakers collectively held about 15 percent of the EV market in 2024, less than one-third of Tesla's 48.7 percent share, Smaller brands like Rivian and Lucid have yet to get liftoff. A To keep Tesla moving forward, Musk can't go back. In fact, he needs to stay as far away from Tesla as possible. It may be a tall order to oust him. He's Advertisement Other big shareholders include major institutions such as Vanguard Group, BlackRock, and State Street, which hold shares on behalf of their clients. None of them individually has enough shares to outvote Musk. But pressure from ultrarich customers could prompt them to act. Companies have dumped auto chieftains before. William Durant, the founder of General Motors, was ousted twice over financial issues, first in 1910, and again in 1920 after he returned for a few years. In 1945, Ford founder Henry Ford, then in his 80s, stepped aside for his grandson, Henry Ford II. Three decades later, Henry II demoted company president Lee Iacocca, supposedly declaring, 'Sometimes you just don't like someone.' Iacocca, of course, went across town to ailing Chrysler and led one of the most legendary comebacks in corporate history. He negotiated union concessions and a federal bailout, set new products in motion, and became the face of the company in the 1980s, promising rebates to customers who would 'buy a car, get a check.' Tesla now needs an Iacocca — an executive who can cancel out the damage. It would help if that leader knew how to run a car company and believed in electric vehicles. In fact, there's one sitting in Detroit: General Motors CEO Mary Barra. She has Advertisement She may not have the bluster of an Iacocca or any interest in leaving GM. But righting Tesla and putting the spotlight back on its EVs could be a terrific next career act for some effective executive, if not Barra specifically. It could ensure that America stays in the global EV race and grabs attention at the Shanghai shows of the future. Musk did not start Tesla. He should not be allowed to finish it off.
The Independent
25-04-2025
- Automotive
- The Independent
You're going to see a lot more BYD cars on the road very soon – here are all the big reveals from Shanghai Show
BYD has already launched five new models in its first two years in the UK, with two more scheduled to turn up in the next few months and a whole new brand, Denza, arriving next year, too. But it's not stopping there. BYD has plans to offer UK customers an increased range of plug-in hybrid models over the next 18 months with two of them revealed at the Shanghai Motor Show. Currently, BYD's line-up comprises five EVs and the Seal U DM-i plug-in hybrid – a car that we've described as Britain's best-value new car. The budget Dolphin Surf and small SUV Atto 2 all-electric models are due to join the line-up over the coming months, but there will also be a new range of DM-i PHEVs coming to showrooms to join the Seal U.1. Talking to The Independent at the New York Auto Show where she'd just been presented with her 2025 World Car Person of the Year Award, BYD executive vice-president Stella Li, said: 'We will introduce five DM-i models into Europe in the next one and a half years. 'We always needed to introduce these two versions [electric and plug-in hybrid] because even in the UK EV penetration was high, but suddenly flat. [The UK EV market] is at about 24 per cent, so 76 per cent of people will never want electric because of range anxiety, and the charging infrastructure is always a question. So, BYD will bring the DM-i technology -in the form of an] advanced PHEV. 'BYD's DM-i makes a difference on the EV range. You can run for 100 to 200 kilometres per charge daily, so it becomes like an EV. But then you also have the freedom to go long distances. With our PHEV model you get lower fuel consumption: on one charge and one tank of gasoline, you can drive 1080 kilometres. Nobody else's car can do this. This means in the UK you can go from the North all the way back to the South if you want to without stopping for gas or charging. That's a game changer.' The BYD Seal U DM-i comes with a choice of battery and engine configurations with either 18.3 or 26.6kWh batteries, with EV ranges of 50 or 77 miles and a combined petrol and electric range of up to 706 miles. Two of the likely new arrivals were previewed at the Shanghai Motor Show, with one of them being BYD's first estate model. The BYD Seal 6 DM-i will be available as both a saloon and estate car using the same technology as the Seal U DM-i SUV. The new Seals are additional members of BYD's Ocean Series of cars, so feature the trademark flowing lines inspired by the movement of the waves. The estate features traditional station wagon proportions updated with features like semi-recessed door handles to boost efficiency. The SEAL 6 DM-i Wagon measures 4,850mm in length with a long wheelbase of 2,790mm for excellent cabin space. A new mid-size SUV was also shown with both DM-i plug-in hybrid and fully electric tech. The Sealion 6 DM-i shares its looks and 4,810mm-long proportions, but use different platforms – the EV uses BYD's DM Hybrid architecture and the advanced e-Platform 3.0 Evo. BYD will also be launching its new Denza performance car brand in Europe and the UK at the start of 2026 with further Denza models also revealed in Shanghai. BYD says the new brand will rival Porsche when it arrives, with its first model, the Denza Z9GT sporting estate car, also featuring DM-i plug-in hybrid power as well as a fully-electric powertrain.
Daily Tribune
25-04-2025
- Automotive
- Daily Tribune
Mercedes-Benz debuts long-wheelbase CLA L
TDT | agencies Mercedes-Benz has unveiled the CLA L at the 2025 Shanghai Motor Show—a long-wheelbase version of the CLA sedan developed specifically for the Chinese market. Measuring 4,763 mm in length with a 2,865 mm wheelbase, both dimensions have been extended by 40 mm, making the CLA L longer than the C-Class, while sharing its wheelbase. Designed with passenger comfort in mind, the CLA L features a uniquely tailored rear seat with a 10 mm longer cushion and softer bolsters for improved leg support and enhanced ride comfort.
