Latest news with #automobile
Bloomberg
2 days ago
- Automotive
- Bloomberg
Li Auto Second-Quarter Sales Set to Disappoint Amid EV Price War
Li Auto Inc. forecast second-quarter revenue that fell short of what investors are expecting, as the Chinese electric vehicle maker struggles amid intensifying competition in the world's biggest automobile market. Carmakers in China have slashed sticker prices to kick start sluggish consumer demand, including market leader BYD Co., which last week cut prices by as much as 34%.
Free Malaysia Today
5 days ago
- Automotive
- Free Malaysia Today
China, Hong Kong stocks weaken as auto shares, Apple suppliers weigh
The benchmark Hang Seng Index was down 1.4% at 23,282.33. (EPA Images pic) HONG KONG : China and Hong Kong stocks retreated today as automobile shares slid on price war concerns and Apple suppliers dropped on potential US tariffs. At the close, the Shanghai Composite index weakened 0.1% to 3,346.84. The blue-chip CSI300 index dropped 0.6%. In Hong Kong, the benchmark Hang Seng Index was down 1.4% at 23,282.33. The Chinese H-share index listed in Hong Kong, the Hang Seng China Enterprises Index, fell 1.7%. Car-makers slipped, weighing on both onshore and offshore markets, after BYD slashed prices on some of the models to spur sales as competition heats up. Its Hong Kong-listed shares dipped 5.9%, while rival Geely Auto tumbled 9.5%. The CSI All Share Automobiles Index lost 2.9%, the biggest single-day drop in five weeks, while the Hang Seng Automobile Index in Hong Kong tumbled 4.9%. 'The price cuts could put some short-term pressure on earnings,' analysts at Sinolink Securities said in a note. 'It got investors concerned about profitability, and the sector is likely to enter a correction,' analysts said. Apple supplier stocks also lost some ground after US President Donald Trump threatened tariffs on imported iPhones. iPhone assembler Luxshare lost 0.2%. However, China's yuan has strengthened past the 7.17 level after the central bank tightened the midpoint fixing, and analysts say the firming trend of the currency should lend support to the nation's stocks. 'We estimate every 1% of renminbi increase versus the US dollar could boost Chinese equities by 3%,' Goldman Sachs' China equity strategist Kinger Lau wrote in a note. 'Sectors such as consumer discretionary, property, and brokers typically outperform when the yuan appreciates,' he added.
South China Morning Post
6 days ago
- Automotive
- South China Morning Post
Renault leverages Shanghai operation for cars aimed at markets outside Europe
French carmaker Renault Group is using its Chinese development centre to design new models aimed at markets beyond Europe , a senior executive said, as the company seeks to cut production costs and accelerate development by applying insights from the mainland market. The company launched its Advanced China Development Centre (ACDC) in Shanghai last year, which employs around 200 people who are focused on developing electric vehicles (EVs) for the European market. 'ACDC is growing into a very important engineering centre, and we want it to work for the globe,' said Vincent Piquet, chief financial officer at Renault Group's EV division Ampere, in an interview last week. Piquet said the Shanghai operation was working on developing battery-powered models for Ampere and Renault to sell to markets outside Europe. Renault operates in more than 100 countries and regions worldwide, with a primary focus on Europe. Brazil and South Korea are also major markets for the company. His comments came as the rise of Chinese EVs in Europe has forced the bloc's carmakers to re-evaluate their strategies for survival. With support from the Shanghai operation, Renault developed a more affordable version of the electric Twingo car in just 21 months, significantly shorter than the previous three- to four-year cycle. Priced at less than €20,000 (US$22,646), the model is set for release in 2026 in Europe. The Shanghai centre also allowed for the rapid production of a new EV for Renault's budget brand, Dacia, in just 16 months, the fastest development of a model in the group's history. The company expects its cheaper EVs to compete with BYD's Seagull and Nio's Firefly in the European market.
South China Morning Post
6 days ago
- Automotive
- South China Morning Post
Renault leverages Shanghai development centre for cars aimed at markets outside Europe
French carmaker Renault Group is using its Chinese development centre to design new models aimed at markets beyond Europe , a senior executive said, as the company seeks to cut production costs and accelerate development by applying insights from the mainland market. The company launched its Advanced China Development Centre (ACDC) in Shanghai last year, which employs around 200 people who are focused on developing electric vehicles (EVs) for the European market. 'ACDC is growing into a very important engineering centre, and we want it to work for the globe,' said Vincent Piquet, chief financial officer at Renault Group's EV division Ampere, in an interview last week. Piquet said the Shanghai operation was working on developing battery-powered models for Ampere and Renault to sell to markets outside Europe. Renault operates in more than 100 countries and regions worldwide, with a primary focus on Europe. Brazil and South Korea are also major markets for the company. His comments came as the rise of Chinese EVs in Europe has forced the bloc's carmakers to re-evaluate their strategies for survival. With support from the Shanghai operation, Renault developed a more affordable version of the electric Twingo car in just 21 months, significantly shorter than the previous three- to four-year cycle. Priced at less than €20,000 (US$22,646), the model is set for release in 2026 in Europe. The Shanghai centre also allowed for the rapid production of a new EV for Renault's budget brand, Dacia, in just 16 months, the fastest development of a model in the group's history. The company expects its cheaper EVs to compete with BYD's Seagull and Nio's Firefly in the European market.
Car and Driver
24-05-2025
- Automotive
- Car and Driver
View Photos of the 1978 Cadillac Coupe de Ville
Read the full review Cadillac's Coupe de Ville was downsized for the 1977 model year and as a result, a better car than you might expect is hiding under the brand's traditional layer of glitz.
