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China’s chip- and car-led export surge defies slowing U.S. demand
business1 month ago

China’s chip- and car-led export surge defies slowing U.S. demand

China posted a nearly 22% jump in exports for January–February, led by semiconductors (up about 73%), autos (67%), and electronics, as demand outside the U.S. rose even as shipments to America fell roughly 11%. Imports rose about 20%, producing a January–February trade surplus of about $213.6 billion. The data come as Beijing targets 2026 growth of 4.5%–5% amid global tensions and domestic weakness, with AI-driven chip demand helping sustain export strength.

via PBS|
#autos#business#china
India trims EU luxury-car tariffs to 30%, opening market to BMW, Mercedes
world2 months ago

India trims EU luxury-car tariffs to 30%, opening market to BMW, Mercedes

India will immediately reduce import duties on high-end European cars to 30% from up to 110% under a new EU trade deal, with price-based caps and annual import quotas that together lift total allowed imports to 160,000 vehicles over 10 years; EVs priced above 20,000 euros will also see cuts, eventually reaching 10% over five years, while domestic EV makers like Tata and Mahindra remain protected for now. The move is expected to boost luxury-car availability and technology transfer for brands such as BMW, Mercedes-Benz, VW, Renault and Stellantis, though price reductions may not be immediate.

via Reuters|
#autos#eu-india-trade-agreement#luxury-cars
politics2 months ago

Tariffs vs. Car Prices: Trump’s Auto Victory Tour Meets Reality

The White House touts its auto tariffs as not causing big price hikes, noting strong 2025 auto sales and a December average new-car price of about $50,326, but industry analysts warn prices may rise in 2026. Automakers say tariffs cost them billions (Ford about $1B in 2025; GM $3.5–$4.5B), though many costs were absorbed and relief measures like tariff rebates and policy tweaks are meant to ease the impact. Republicans and Democrats alike caution that affordability remains a political hurdle as reshoring of production will take years and prices stay stubbornly high.

via Politico|
#affordability#autos#politics
Huawei's 2023 Profit Doubles Amid Strong Earnings Growth
business2 years ago

Huawei's 2023 Profit Doubles Amid Strong Earnings Growth

Huawei's net profit for 2023 more than doubled, with revenue growing by 9.6% to 704.2 billion yuan, and net profit increasing by 114.5% to 87 billion yuan. The company's smartphone business made a comeback with the release of the Mate 60 Pro in China, boosting sales and market share. Revenue from the intelligent automobile solutions business grew by 128.1%, while the consumer business saw a 17.3% increase in revenue. ICT remained Huawei's biggest revenue driver, with cloud revenue growing by nearly 22%.

via CNBC|
#autos#business#huawei
Cruise's Driverless Robotaxi Operations Halted Nationwide
autos2 years ago

Cruise's Driverless Robotaxi Operations Halted Nationwide

Cruise has suspended operations of its driverless cars nationwide after the California Department of Motor Vehicles (DMV) suspended their deployment in San Francisco, stating that the vehicles were "not safe for the public's operation" and that the manufacturer had "misrepresented" safety information. Cruise stated that the suspension is not related to any new incidents and that they are taking time to examine their processes and rebuild public trust. The DMV's suspension followed an investigation into a collision involving a Cruise vehicle in San Francisco on October 2. Cruise will continue supervised autonomous vehicle operations.

via CBS San Francisco|
#autos#cruise#dmv