Auto sales in China, the world’s biggest auto market, surged 365% in February over the same month a year earlier for their 11th month of gains, as the country leads the global industry’s recovery from the COVID-19 pandemic.
Major automobile manufacturers want to slash their vehicle production due to the prevailing chip shortage. Automakers and electronics makers are facing a global shortage of chips as consumer demand has been bouncing back from the coronavirus pandemic,
China’s factory gate prices fell last month at their slowest pace since February, official data showed on Monday, suggesting the country’s manufacturing sector continues to see a rapid recovery from the COVID-19 shock.
Japanese stocks ended higher in choppy trading on Wednesday after positive earnings from market bellwethers Toyota and Honda highlighted the improving outlook for the global economy. Toyota hiked profit forecast 54%, shrugged off global chip
South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric cars, just a month after it confirmed early-stage talks with the tech giant, sending the automaker’s shares skidding.
Auto sales in China, the world’s biggest market, surged in January with a 30 per cent jump from the same month a year earlier, the tenth month of gains, as China continued to lead the global automobile industry’s recovery from the COVID-19 pandemic.
A less severe economic impact from the pandemic’s second wave and resilient buyer sentiment will support a swift rebound in India’s automotive demand after curbs are eased, said Fitch Ratings.
Tesla Inc on Friday posted record vehicle deliveries for the second quarter that were in line with Wall Street estimates as the electric-car maker coped with a shortage of chips and relied on sales of its cheaper models.
Tesla’s quarterly profit has surpassed $1 billion for the first time thanks to the electric car pioneer’s ability to navigate through a pandemic-driven computer chip shortage that has caused major headaches for other automakers.