Automobile Industry 03 (May 23 - Dec 25)

[winston]

Automakers to end price war

Sixteen automakers including Tesla and China's top electric-vehicle maker BYD (1211), pledged to maintain fair competition and avoid "abnormal pricing", in the world's biggest EV market, signaling a possible end to the 2023 price war that's shrouded the industry.

The Ministry of Industry and Information Technology directed the China Association of Automobile Manufacturers to bring the 16 companies together to sign the pact.

Meanwhile, Tesla chief executive Elon Musk reiterated his view that full self-driving should emerge later this year, as the world moves toward a future where robots will outnumber humans.

This came as Geely Automobile (0175) said it sold 137,897 units of vehicles last month, up by 9 percent from a year ago. For the first half of the year, total sales volume stood at 694,045 units, a year-on-year increase of 13 percent.

Separately, auto shares rose yesterday, with Brilliance China Automotive (1114) surging 15 percent after the firm declared a special dividend again.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... -price-war

[behappyalways]

The production of new energy vehicles in mainland China reaches 20 million units, and the growth rate is accelerating

大陸生產新能源車達2千萬輛 增速加快｜錢麗如｜FOCUS全球新聞 20230705 @tvbsfocus

https://m.youtube.com/watch?v=O4ixo0U6FWE

[winston]

Chinese automaker body retracts two-day-old price pledge

The reference to “pricing” in the pledge was inappropriate and in breach of a principle enshrined in the nation’s anti-trust law, the association said.

The retraction came after the clause drew “widespread attention”, according to the statement.

The association urged the 16 companies and other members to strictly follow the anti-trust law and other rules that encourage independent pricing and fair competition.

Source: Bloomberg

https://theedgemalaysia.com/node/674081

[behappyalways]

Great Migration: Mercedes-Benz Adopts Tesla's NACS Charging Standard
https://www.zerohedge.com/technology/gr ... g-standard

[behappyalways]

Renault Says A "Chinese Storm" Is Coming For Europe's EV Industry
https://www.zerohedge.com/technology/re ... v-industry

[behappyalways]

Waiting For 'Buyers To Come': Unsold Electric Vehicles Piling Up In Car Dealerships, Says Report
https://www.zerohedge.com/markets/waiti ... ays-report

[behappyalways]

China's Domestic Automakers Dethrone Western Competition After Decades Of Dominance
https://www.zerohedge.com/markets/china ... -dominance

[behappyalways]

Auto loan rejections are surging, according to the latest NY Fed survey data
https://twitter.com/Mayhem4Markets/stat ... 9892551681


"Shocking Number": Rivian Owner Sees $42,000 Repair Bill For Minor Accident
https://www.zerohedge.com/technology/sh ... r-accident


Ford Slashes F-150 Lightning Truck Prices By Up To $10,000 As EV War Heats Up
https://www.zerohedge.com/markets/ford- ... -war-heats

[behappyalways]

Used-Car Prices Continue Slide As Signs Of Normalcy Start To Reemerge
https://www.zerohedge.com/markets/used- ... t-reemerge


Some EVs Are "Dirtier" Than Conventional Vehicles; New Study Finds
https://www.zerohedge.com/technology/so ... tudy-finds

[behappyalways]

Endurance Of Electric Vehicles Falters In Extreme Heat
https://www.zerohedge.com/technology/en ... treme-heat