Category: Car
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Vietnam’s VinFast delays US electric car plant amid market slowdown By Reuters
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By Phuong Nguyen HANOI (Reuters) – Vietnamese electric vehicle maker VinFast has postponed the launch of its planned $4 billion North Carolina factory to 2028 and cut its delivery forecast for this year by about 20,000 units amid uncertainty in the global electric vehicle market. Vinfast, founded by Vietnam’s richest…
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Vehicle supply building. Prices are going down. Is it time to buy a new car?
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Breadcrumbs Path Links PMN Retail & Marketing PMN Business BMW cars Article author: Canadian Press Ritika Dubey Posted on July 07, 2024 • Read for 4 minutes You can save this article by registering for free here. Or log in if you have an account. For the first time in…
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China cognac probe is a reaction to EU car tariffs, says Hennessy owner LVMH By Reuters
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AIX-EN-PROVENCE, France (Reuters) – China’s investigation into dumping in Europe’s cognac industry is a tit-for-tat response to European Union tariffs on Chinese electric cars, the chief financial officer of Hennessy cognac owner LVMH said on Saturday. China on Friday announced plans to hold a hearing on European brandy imports, escalating…
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UK car market sees first million sales since pandemic, driven by hybrids over fully electric vehicles
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The UK car market has reached a significant milestone, with new car registrations exceeding one million in the first half of 2024, the first time this has happened since pre-pandemic 2019. This renaissance includes a significant increase in the market share of electric vehicles. However, sales of plug-in hybrids and…
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CDK to pay tens of millions to hackers who crippled car dealerships
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A group claiming to have hacked CDK Global, a software provider for thousands of North American car dealerships, has demanded tens of millions of dollars in ransom, according to a person familiar with the matter. CDK plans to repay the amount, said the person, who asked to remain anonymous because…
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CDK to pay tens of millions to hackers who crippled car dealerships
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A group claiming to have hacked CDK Global, a software provider for thousands of North American car dealerships, has demanded tens of millions of dollars in ransom, according to a person familiar with the matter. CDK plans to repay the amount, said the person, who asked to remain anonymous because…
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Used car retailer CarMax posts 33% drop in first-quarter profit By Reuters
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(Reuters) – CarMax reported a 33% drop in first-quarter profit on Friday, as lower profit margins on cars sold continued to weigh on the used car industry. Used car retailers have had a bumpy ride with profitability deteriorating over the past few years as new vehicle availability improves. Better offers…
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JLR Invests £1M to Aid Police in Combating Car Thefts
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Jaguar Land Rover (JLR) has announced a £1 million investment to help UK police combat vehicle theft. This funding will strengthen police operations at theft sites and support intelligence gathering efforts. The initiative comes after Adrian Mardell, CEO of Jaguar Land Rover, strongly denied claims that Range Rovers are particularly…
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M-Pesa relief as big car owners hit in Sh347bn new taxes
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The Treasury has removed the Sh100,000 cap on the proposed car tax as it seeks to raise an additional Sh346.7 billion from the new tax measures in the next financial year, even as mobile money users avoid higher toll charges on motor vehicles. the cars. Transactions. In his budget speech…
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Used car darling Cazoo on brink of insolvency
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Cazoo, the used car company founded by Alex Chesterman, is facing the possibility of administration as it struggles to secure emergency funding to address its significant losses. The company has applied for protection from its creditors, and is seeking ten days of protection from creditor claims while it explores options…
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Car Industry Urges UK Government Action to Boost Waning Electric Vehicle Demand
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Carmakers are sounding the alarm about slowing demand for electric cars among private buyers in the UK, leading to urgent calls for government intervention to reignite interest in battery-powered cars. Although overall UK vehicle registrations increased by 1% year-on-year to 134,000 in April, driven by fleet sales, sales to private…
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BMW says costs, low used car prices to weigh on 2024 pre-tax profit By Reuters
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Written by Andrei Sychev and Nick Carey BERLIN (Reuters) – BMW said on Wednesday it expects a slight decline in pre-tax profits this year due to higher research and development, manufacturing and employee costs, with lower used car prices also contributing to the decline. The Munich-based automaker reported a decline…