Latest news with #auto
Yahoo
3 days ago
- Automotive
- Yahoo
China's Xiaomi founder expects EV business to turn profitable in H2
BEIJING (Reuters) -China's Xiaomi founder and CEO Lei Jun said on Tuesday that he expected the company's auto business to turn profitable in the second half the year, according to a company spokesperson. 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
Reuters
3 days ago
- Automotive
- Reuters
China's Xiaomi founder expects EV business to turn profitable in H2
BEIJING, June 3 (Reuters) - China's Xiaomi ( opens new tab founder and CEO Lei Jun said on Tuesday that he expected the company's auto business to turn profitable in the second half the year, according to a company spokesperson.
Gulf Business
3 days ago
- Automotive
- Gulf Business
Rising insurance premiums reshape UAE consumer spending, NIQ report shows
Image: WAM A new report from market intelligence firm NielsenIQ ( According to the report, over half of surveyed consumers reported an increase in insurance premiums, with more than 80 per cent expecting further hikes —particularly in the auto sector. This has led to a surge in interest for cost-effective solutions, including loyalty rewards, no-claims discounts, and policies with reduced coverage. 'While inflation is beginning to ease, its impact on household budgets remains,' said Rahul Dixit, Strategic Analytics & Insights leader for the Arabian Peninsula and Pakistan at NIQ. 'Consumers are adapting by redefining what value means to them — favouring durability, longevity, and predictability in their purchases.' Key findings from the insurance themed survey The findings are based on an online survey of 300 UAE-based car owners conducted in March 2025, with a 4.75 per cent margin of error at a 90 per cent confidence level. As part of this shift in mindset, 76 per cent of UAE consumers expressed a strong interest in securing multi-year fixed-rate auto The report also found that 70 per cent of consumers are willing to pay a premium for products offering durability and longevity, indicating a broader trend toward strategic spending. This sentiment is echoed across the Middle East and Africa, where 76 per cent of consumers are seeking additional income streams beyond their primary jobs to counteract economic pressure. NIQ emphasised that businesses must bridge the 'say-do' gap — the difference between consumer intentions and actual behaviour — through data-driven insights. Traditional methods like discounts or heightened advertising are increasingly insufficient in a market where value is defined by context, timing, and subconscious factors. As consumers in the UAE and wider region become more discerning, the report suggests that companies capable of aligning with evolving expectations stand to gain a competitive edge in a shifting economic landscape.
Zawya
09-05-2025
- Automotive
- Zawya
SOUEAST establishes Saudi Subsidiary, Saudi Arabia's largest automotive spare parts center
RIYADH, Saudi Arabia- -(BUSINESS WIRE)-- SOUEAST has officially launched the Saudi Arabia subsidiary. On the same day, SOUEAST Saudi spare parts center officially opened, and a signing ceremony for the cooperation of the spare parts center with Starlinks was completed, marking a key milestone in its expansion across the Middle East. This move reinforces the brand's localization strategy, ensuring enhanced customer service, faster logistics, and a stronger presence in the Saudi market. Strategic Expansion: Saudi Arabia as a Regional Community Saudi Arabia, as the largest auto market in the region, plays a vital role in SOUEAST's layout in the Middle East. By establishing local centers, the company aims to develop models tailored for Saudi customers, ensuring reliability in the region's driving conditions. "Saudi Arabia is central to our long-term vision," said Mr. Zhang Yuanwei, General Manager of SOUEAST Motor Saudi Arabia. "Our subsidiary enables us to work closely with local partners, ensuring that our models and services align with Saudi customers' needs." 10,000m² Spare Parts Center: A New Benchmark To streamline aftersales services, SOUEAST has invested in the largest auto spare parts center in the Middle East, located in Jeddah. Covering 10,000 square meters, the facility ensures a 100% parts supply guarantee, significantly reducing waiting times for customers. Equipped with an intelligent warehouse system, the center enables parts to be delivered in 24 hours and guarantees all emergencies can be resolved in 48 hours all across the country. "We are eliminating delays and setting a new standard for aftersales service in the region," added Mr. Zhang. User-oriented & Digital Integration The Saudi subsidiary will operate with a fully trained local service team, ensuring fast-response maintenance and transparent support. SOUEAST is also integrating digital tools to improve convenience for customers. The Future of Urban Mobility in Saudi Arabia With its new subsidiary and advanced spare parts center, SOUEAST is reinforcing its commitment to quality, efficiency, and customer satisfaction. The brand's ongoing investments in localization, logistics, and service innovation aim to position it as a leader in the Saudi auto market.
CBC
06-05-2025
- Business
- CBC
'Fluctuating' shifts announced for Windsor Assembly Plant — but workers remain anxious
Windsor Assembly Plant's 4,500 auto workers will be following an irregular schedule over the next 12 weeks, with some weeks of full operation, some weeks of only one shift reporting, and some weeks of shutdown. Stellantis says it's because of production adjustments — but industry analyst Sam Fiorani, union head James Stewart, and plant workers Paul Lachance and Derek Gungle suspect U.S. tariffs are the biggest factor. CBC's Dalson Chen reports.
