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☆ In the EV future, Thailand, the 'Detroit of Asia,' could be a key China hedge for automakers
▼ + stars: | 2024-05-12 | by ( Vikram Barhat | ) www.cnbc.com time to read: +4 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTVisitors inspect a Tesla Model Y car during the 40th Thailand International Motor Expo at the Impact Challenger hall in Nonthaburi. A Trump reelection is not even necessary: the Biden administration may introduce 100% tariffs on Chinese EVs next week, according to reporting on Friday. Chinese EV makers, including BYD, have earmarked $1.44 billion in new production facilities in Southeast Asia's second-largest economy. Tesla Thailand recently rolled out a special financing program to spur more sales. Southeast Asia is a growing auto market, and Thailand is already the region's biggest car producer and exporter, with Toyota, Honda, Nissan, Ford, GM and Mercedes-Benz having already embraced Thailand as a regional headquarters.

Persons: Goldstein, Donald Trump, Trump, Biden, There's, Tu Le, Tesla, Le, Steven Dyer, AlixPartners, Frank, Walter Steinmeier Organizations: Tesla, Getty, Auto, Nurphoto, Nikkei, Krungsri Securities, Nikkei Asia, Ford, Toyota, Honda, Nissan, GM, Mercedes, Benz Locations: Thailand, Nonthaburi, U.S, Southeast Asia, Beijing, Detroit, China, Trump, Bangkok, Nonthaburi Province, Nikkei Asia, Southeast Asia's, Shanghai

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ At least 123 Chinese automakers are facing off against Tesla for EV dominance
▼ + stars: | 2024-04-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

About 123 car companies sold electric vehicles, an auto consultant told WSJ. AdvertisementCompetition in the electric vehicle sector is only getting stiffer for Tesla in China, but what does that space exactly look like? AdvertisementAs Business Insider's Linette Lopez noted in February, automakers received a huge lift from Beijing as it doled out government subsidies to any car company that would contribute to the country's pivot to electric vehicles. AdvertisementStill, Tesla remains one of the country's top EV sellers, and only a few brands compete with the US-based automaker. The competition, however, comes amid a slowdown in EV sales that's being felt in the US and China.

Persons: —, Stephen Dyer, Insider's Linette Lopez, Lopez, Tesla, Dyer, BI's George Glover, BYD Organizations: EV, Service, Tesla, Wall Street, Kiel Institute, The Locations: China, Beijing, Germany, —

☆ Why EVs are causing a tire boom
▼ + stars: | 2024-03-19 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +1 min

With their heavy weight and quick acceleration, EVs tend to burn through tires about 20% faster than internal combustion vehicles do, according to AlixPartners. Other technical challenges include dampening tire noise, which is a lot more noticeable in the cabin of an otherwise silent EV, and improving an EV's range. Michelin research shows tire selection can impact an EV's range by 10% to 15%. Currently only about half of buyers do, according to Northcoast Research estimates. "If EV does kind of evolve and proliferate through the car population like some think, it may bring about what I call the gold rush for tire manufacturers," said John Healy, an analyst with Northcoast Research.

Persons: John Healy Organizations: Michelin, Northcoast Research

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why tire companies love EVsThe tire business is a business of low growth, low margins and extreme competition. Tire makers are at the mercy of of raw material prices. And about half of customers are largely indifferent to the brand of tires they buy. But industry analysts say EVs provide tire makers with the biggest growth opportunity they have seen in decades. AlixPartners estimates that tires on EVs require 20 percent more frequent replacement and can cost 50 percent more.

Persons: Price

☆ There's been a rebound in volatile shipping stocks. The market opportunity isn't over, report says
▼ + stars: | 2024-03-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

During 2022-2023, ocean carriers used some of those reserves for their own buying sprees to expand their footprints. While adding to the ocean carrier bunker fuel costs, they are being compensated.. "The Red Sea diversions are a good thing for ocean carriers. The big question mark is the duration of the diversions and the surcharges the ocean carriers can charge. Those two regions have steadily taken market share away from the West Coast ports, with shippers also benefitting from investments in ports infrastructure. "The West Coast ports have strengthened infrastructure," Iampieri said.

Persons: Marc Iampieri, Cash, Iampieri, Jeff Bezos, It's, Paul Brashier, Brashier, AlixPartners Organizations: Bloomberg, Getty, Dow Jones Transportation, Fortune, Convoy, Amazon, Technology, Ocean, Maersk, CNBC, ITS Logistics Locations: Panama, Red, East Coast, AlixPartners, Flexport, Europe, North America, Asia, West Coast, East, Gulf, Mexico, West, Los Angeles, Long

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ There are no perfect AI strategies — it's the 'move to action' that's key, says consultancy CEO
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are no perfect AI strategies — it's the 'move to action' that's key, says consultancy CEOSimon Freakley, CEO consulting firm AlixPartners, discusses what he thinks businesses need to do to get ahead, especially when it comes to artificial intelligence.

Persons: —, Simon Freakley, AlixPartners

☆ The Tesla Cybertruck Is Almost Here. What Will It Cost?
▼ + stars: | 2023-11-30 | by ( Rebecca Elliott | ) www.wsj.com time to read: 1 min

The launch of Tesla’s Cybertruck is one of the most anticipated electric-vehicle releases in history. Barclays analyst Dan Levy and AlixPartners’ Mark Wakefield weigh in on how Tesla’s first pickup could shake up the market. Photo: Frederic Brown/Getty ImagesAfter a two-year delay, Tesla is finally ready to start delivering its first Cybertruck pickups to customers. The big questions now for those who have endured the wait: How much will it cost and how far can it travel on a single battery charge?

Persons: Dan Levy, AlixPartners ’ Mark Wakefield, Frederic Brown, Tesla Organizations: Barclays

☆ Amazon aggregator Thrasio prepares for bankruptcy - WSJ
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Thrasio Holdings, which acquires third-party sellers on Amazon (AMZN.O), is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday. The aggregator did not immediately respond to a Reuters' request for comment. In 2021, Thrasio said it had raised $1 billion in a funding round led by private equity firm Silver Lake, taking its total funding to $3.4 billion. The company has been working with law firm Kirkland & Ellis to explore restructuring options, the Journal had reported in September. Reporting by Gursimran Kaur in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Thrasio, Holly Etlin, Kirkland, Ellis, Gursimran Kaur, Subhranshu Sahu Organizations: Thrasio Holdings, Wall Street, Thomson Locations: New York, Silver, Bengaluru

☆ Why dealers say EV sales have slowed
▼ + stars: | 2023-11-01 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

And yet, electric vehicles are piling up at dealership lots. EV and internal combustion engine (ICE) inventory started the year off at about 52 days' supply, according to Cox Automotive. In the case of a 52 days' supply, if automakers were to stop producing cars today, dealers would be able to keep selling cars for about that number of days before running out. Since January, EV days' supply has skyrocketed while ICE supplies have hovered between 52 and 58 days. EV supply at the start of October was 97 days, down from the peak inventory of around 111 days during early July.

Persons: Tesla, you'll, Jeff Aiosa Organizations: Cox Automotive, EV, ICE, Ford, Insiders, Mercedes, Benz Locations: U.S, EVs, New London , Connecticut

Alibaba's Taobao and Tmall Group did not respond to a request for comment. This year's Singles Day event is also the first since Alibaba Group split into six business units. This view is supported by recent polls on social media where the majority of respondents said Singles Day was no longer necessary. Meara He, a 21-year-old student from Wenzhou, says she often shops using Douyin live-streams and this year, "doesn't care" about Singles Day as much. "In the past I would wait for Double 11 (Singles Day) and do some shopping, but this time I just plan to buy products that I need," she said.

Persons: Alibaba, Pinduoduo, Josh Gardner, Alibaba's, Ashley Dudarenok, AlixPartners, Douyin, Melody Zhao, Casey, Sophie Yu, Brenda Goh Organizations: PDD Holdings, Kungfu, Tmall, Administration, Market, ByteDance, Alibaba, Suisse, Industry, Hua Gui Food Group, Casey Hall, Thomson Locations: SHANGHAI, HK, China, Wenzhou, Shanghai, Beijing

Here are the big questions about the move, which led to a slide in shares of Chinese EV makers on Thursday:WHY EXPORT TO EUROPE AND HOW MUCH HAS IT GROWN? That is mainly due to Beijing's decade-old industry promotion policy of incentives and subsidies that enabled China to become the world's biggest EV market and control the global EV supply chain, including raw materials. The single largest exporter is Tesla, accounting for 40% of China's EV exports between January and April, U.S. thinktank the Center for Strategic and International Studies says. Chinese state subsidies for electric and hybrid vehicles totalled $57 billion between 2016 and 2022, consultants AlixPartners have estimated. It paid out nearly $15 billion to encourage EV purchases through 2021, China Merchants Bank International has estimated.

Persons: Annegret, Bill Russo, EVs, BYD, AlixPartners, Brenda Goh, Ellen Zhang, Miyoung Kim, Clarence Fernandez Organizations: REUTERS, Rights, European Commission, EV, EU, Volkswagen, Renault, BMW, WHO, Center for Strategic, International Studies, Volvo, SAIC's, MG, HK, China Merchants Bank International, Thomson Locations: Berlin, Germany, China, Shanghai, Europe, United States, CHINA, Netherlands, Denmark

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

☆ How much are retailers losing to shrink and theft? In many cases, it's not the main drag on profits
▼ + stars: | 2023-09-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

During second-quarter earnings reports in August and September, nearly two dozen retailers said shrink has continued to weigh on profits. During its second quarter earnings call with analysts, the company said shrink was in line with the year-ago period. Over the last few quarters, more and more retailers have called out shrink as a drain on profits and blamed theft for those losses. Others that loosely blame shrink and theft for plummeting profits without providing much more explanation may be trying to obfuscate internal issues, said Lapinsky. Contrary to other retailers, shrink was the largest drag on Ulta's earnings during fiscal 2022, according to a securities filing.

Persons: Lindsey Nicholson, Dick's, Ulta, Sonia Lapinsky, AlixPartners, that's what's, Macy's, CNBC's Courtney Reagan, Jeff Gennette, Gennette, TJX, John Klinger Organizations: Walgreens, Universal, Getty, CNBC, Target, Dick's Sporting Goods, Walmart, Lowe's Locations: Queens , New York

☆ US Senators say Credit Suisse did not review all records when probing Nazi-linked accounts
▼ + stars: | 2023-08-17 | by ( Chris Prentice | Brenna Hughes Neghaiwi | ) www.reuters.com time to read: +2 min

NEW YORK/ZURICH (Reuters) - Swiss lender Credit Suisse did not review all available records when it conducted an internal probe into the historical servicing of Nazi clients and Nazi-linked accounts, according to an investigation published by U.S. lawmakers on Thursday. The logo of Credit Suisse is seen outside its office building in Hong Kong, China, August 8, 2023. “Just under” 1,000 of 65,000 sets of records were available electronically for review, the report said. Neil Barofsky, the former ombudsman, and AlixPartners, the consulting firm Credit Suisse hired to conduct the probe, did not respond immediately to a requests for comment. A spokesperson for Credit Suisse referred Reuters to its April statement defending its review and raising concerns over the ombudsman’s work.

Persons: Tyrone Siu, “, Chuck Grassley, Neil Barofsky, Simon Wiesenthal Organizations: Credit Suisse, Nazi, U.S, REUTERS, Senate, Reuters, Simon, Simon Wiesenthal Center, Bloomberg Locations: ZURICH, Hong Kong, China

Shares of dedicated EV maker VinFast, which merged with special purpose acquisition company (SPAC) Black Spade, surged on their Nasdaq debut on Tuesday. Other EV SPAC deals, including Lucid (LCID.O), which Black Spade used as the basis of its initial $23 billion valuation of VinFast, have seen their shares tumble after listing. Lucid is valued now at under $15 billion, nearly 40% less than its $24 billion SPAC valuation in 2021. Through the first seven months, it has sold over 16,000, including its sales in Vietnam. The Tesla Model Y is almost $7,000 cheaper than VinFast's VF8 after including federal subsidies.

Persons: Stephane Mahe, Black Spade, Pham Nhat Vuong, David Mansfield, Le, Thuy, VinFast, Vuong, Mansfield, AlixPartners, Tesla, Kevin Krolicki Organizations: REUTERS, Rights, Nasdaq, Ford, General Motors, Tesla, VinFast, VinFast's, EV, U.S ., Thomson Locations: Paris, France, Rights HANOI, U.S . West Coast, Vietnam, United States, Haiphong, North Carolina, China

☆ Retailers say organized theft is biting into profits, but internal issues may really be to blame
▼ + stars: | 2023-08-10 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

In this article TGTFL Follow your favorite stocks CREATE FREE ACCOUNTThis is part two of a three-part series on organized retail crime. "If there's an occurrence of external theft they would steal let's say 10 bucks worth of merchandise, but if it's internal theft, it'd be 40 bucks." Internal theft also happens at warehouses and in aisles where online orders are prepared, one of the people said. However, he thinks internal theft is now "second place" to external theft. Shrink references reach a 'fever pitch'Retailers started to blame organized theft for lower profits as the industry's performance started to suffer.

Persons: Daniel Acker, they're, Neil Saunders, GlobalData, it's, Saunders, Patrick Tormey, it'd, Sonia Lapinsky, AlixPartners, David Johnston, Janine Stichter, Fonrouge, Foot Locker, You've, Mary Dillon, Locker, Michael Nagle Organizations: Target Corp, Bloomberg, Getty, CNBC, Lehman College School of Business, National Retail Federation, Retailers, Walgreens Locations: Chicago , Illinois, drugstores, America, GlobalData, New York, U.S

Eva Marie Uzcategui | Bloomberg | Getty ImagesIt's not your imagination: Companies are getting stingier with customer rewards. Raising the barSome of the biggest shifts in customer perks have come in the airline industry. At many retailers, customers must now pay a return fee if they want to ship back unwanted clothing, shoes or other items. "To drive that online demand, free shipping and free returns were put in place, but now we all know it costs significant money," he said. Both companies aim to make sure membership isn't shared with people who aren't paying, particularly as the companies chase new avenues of growth.

Persons: Eva Marie Uzcategui, Dunkin, Cowen, David Garfield, Yuping Liu, Stephanie Keith, Marshal Cohen, Circana, Nordstrom, Christopher Dilts, Kohl's, Macy's, they're, Amit Sharma, Heidi Isern, Levi Strauss, Ann Taylor, Crocs, Brooks, reining Organizations: Brickell City Centre, Bloomberg, Getty, Retailers, Ross, uptick, American Airlines, Delta Air Lines, United Airlines, Old Dominion, Strome School of Business, LaGuardia, American Express, American, IRI, NPD, Urban Outfitters, Abercrombie, Fitch, Nordstrom, Amazon, Foods, Netflix, Costco Locations: Brickell, Miami , Florida, Queens, New York, Delta, Schaumburg , Illinois

For Nissan, that means contending with an increasingly grim outlook for foreign automakers in China, the world's biggest car market. AMPERE INVESTMENTNissan said it would invest up to 600 million euros ($663 million) in Renault's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing. The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said. Nissan had flagged in February that it would invest a maximum 15% in Ampere, but the exact size of its stake remained unclear.

Persons: Gonzalo Fuentes, Makoto Uchida, AlixPartners, Nissan, Ampere, Gilles Guillame, Daniel Leussink, David Dolan, Miral Organizations: Renault, Viva Technology, Porte de, REUTERS, Investment, Nissan, Reuters, North America, Dongfeng Motor Group, Ampere, Qualcomm, Mitsubishi Motors, Thomson Locations: Porte, Paris, France, TOKYO, PARIS, Renault's, China, Japan, North, U.S

☆ Mitsubishi's China venture with GAC to cut staff costs after SUV sales dive
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of Mitsubishi Motors Corp is seen at a showroom of the company's headquarters in Tokyo, Japan November 26, 2018. REUTERS/Toru HanaiBEIJING/SHANGHAI, July 13 (Reuters) - Mitsubishi Motors' (7211.T) joint venture with China's Guangzhou Automobile Group (GAC) (601238.SS) on Thursday said it would cut staff costs to try to revive its fortunes after sharp sales declines for sport utility vehicles (SUV) such as the Outlander. The joint venture, known as GAC Mitsubishi Motors, was launched by GAC, Mitsubishi Motors and trading house Mitsubishi Corp (8058.T) in 2012, focusing on SUV sales in China. The announcement follows mounting pressure on the joint venture that makes Mitsubishi's Outlander model. Mitsubishi's sales in China peaked in 2018, when it recorded sales of over 141,000 vehicles, according to industry data.

Persons: Toru Hanai, Mitsubishi, AlixPartners, Kevin Krolicki, Shri Navaratnam, Mark Potter Organizations: Mitsubishi Motors Corp, REUTERS, Mitsubishi Motors, China's Guangzhou Automobile Group, GAC, GAC Mitsubishi Motors, Mitsubishi Corp, Mitsubishi, Hyundai, Beijing, Thomson Locations: Tokyo, Japan, Toru Hanai BEIJING, SHANGHAI, ., China

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. If production of EVs continues to outpace demand, automakers will have to choose between slashing prices and profit margins, or slowing assembly lines. More than 90 new EV models are expected to hit the U.S. market through 2026, according to AutoForecast Solutions. In a statement, Volkswagen's U.S. sales arm said "we have seen some softening in EV sales in the U.S. recently" as supply chain bottlenecks have eased, allowing for increased production. Wakefield said it is too soon to declare that U.S. EV demand has hit a plateau.

Persons: Tesla, EVs, Cox, Ford, Vitaly Golomb, Biden, Price, Mark Wakefield, Wakefield, Joe White, Nick Zieminski Organizations: DETROIT, EV, North, AutoForecast Solutions, Dealers, General Motors, Ford, Hyundai, Toyota, Cox Automotive, U.S, Cox, GM, Cadillac, GMC, Volkswagen, U.S ., VW, Industry, EVs, Thomson Locations: U.S, North America, United States, Texas, Washington, Tennessee

☆ Explainer: What's behind China's failed 'truce' in EV price war?
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Tesla Model 3 electric vehicle (EV) is displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. Toyota (7203.T) offered a discount on its bZ4X EV, and Nissan (7201.T) offered an incentive on its Ariya EV. Volkswagen's (VOWG_p.DE) joint ventures with SAIC and FAW also announced price cuts in China on their ID-series EVs on Friday. AlixPartners said while China's EV market will continue to grow rapidly, intensifying competition and excess capacity will also drive a shakeout. In one example, Chinese automakers have invested $1.4 billion in Thailand since 2020, now dominating the Thai EV market after taking share from the Japanese brands that have long operated there.

Persons: Florence Lo, Tesla, CAAM, Li Auto, Liu Xu, furloughs, AlixPartners, Zhang Yan, Kevin Krolicki, Tom Hogue Organizations: Tesla, Fair for Trade, Services, REUTERS, China Association of Auto Manufacturers, stoke, HK, Volvo, Chery Automobile, Global, Ford, Toyota, Nissan, EV, General Motors, Honda, Consultancy, Consumers, SAIC, GAC, Dongfeng, FAW Group, China's Ministry of Industry, Information Technology, FAW, National Strategy Institute of Tsinghua University, International, Hyundai, Thai EV, Thomson Locations: Beijing, China, Shanghai, Europe, Southeast Asia, Thailand, Singapore

On Thursday, regulators orchestrated an agreement between Tesla (TSLA.O) and 15 Chinese rivals to avoid “abnormal pricing”, sealing the deal at a signing ceremony in Shanghai, Bloomberg reported. Perhaps as a result, sellers of internal combustion engines frequently offered steeper discounts compared to battery-powered rivals, Citi’s data show. In this case, at least, it appears to be trying to keep competition healthy, targeting only “abnormal pricing”. If nothing else, Beijing’s intervention offers a welcome pause in hostilities. Over 30 brands in China announced discounts in the first three months of the year, according to industry consultancy Automobility.

Persons: It’s, Bill Russo, AlixPartners, Tesla, Antony Currie, Thomas Shum Organizations: Reuters, Tesla, Bloomberg, FAW Audi, BAIC Hyundai, Citi, HK, country’s Ministry of Industry, Information Technology, China Association of Automobile Manufacturers, Thomson Locations: HONG KONG, Beijing, Shanghai, Xpeng, China

☆ Chinese automakers are winning in a key area that will make it even harder for American competitors to catch up
▼ + stars: | 2023-07-06 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Chinese automakers have a better handle on what their customers want than other car companies. Chinese automakers know what their customers want better than others — and that's why they're likely to beat out rival car companies, especially those from the US. Chinese auto players are already growing rapidly: They're expected to outsell foreign brands in China for the first time this year. "This freshness is a really critical buying factor for Chinese brands," Dyer said. "They will become bigger and stronger competitors and players — potentially, a source of disruption for some of the mature market automakers," Dyer added.

Persons: AlixPartners, That's, Stephen Dyer, Dyer, Li Organizations: US, Asia Automotive, Ford, GM, Volkswagen Locations: China, AlixPartners, Japan, Germany, Korea

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