China’s auto sales in May rose 14.5% from the same month a year earlier, industry data showed, the second consecutive month of increase as the world’s biggest vehicle market recovers from lows hit during coronavirus lockdowns.
Auto sales in China rose 11.6% in June from a year earlier to 2.3 million units, driven largely by strong demand for trucks and vans as Beijing ramps up infrastructure spending to revive the economy.
Major Japanese automakers have raised their profit forecast as demand for vehicles from China rose after the slump due to coronavirus pandemic. Toyota Motor Corporation more than doubled its full-year operating profit
DP World, UAE Region and Jafza joined hands with the Confederation of Indian Industry (CII) as event partners for the Auto Resurgence Summit 2020 that shed light on how the automotive sector can respond positively to the global pandemic.
Base effect along with a rebound in domestic demand led major automobile players to report healthy year-on-year and sequential sales numbers for September. Dealers expect auto sales to boost further during the upcoming festival season.
General Motors (GM) and electric truck startup Nikola Corporation will join forces to build electric pickup trucks and fuel cell commercial trucks to take on Tesla, in a deal that lifted shares in both companies.
India’s commerce minister has asked automakers to find ways to reduce royalty payments to foreign parent companies for use of technology or brand names, in an effort to boost local investment and reduce outflows.
A slight rebound in domestic demand led major Indian automobile players to report healthy sales numbers for August. Other factors such as healthy monsoon, pent up demand and preference for personal mobility over public transport
German exports shrank more than 12% last year as demand from the United States and Britain collapsed due to the coronavirus pandemic while Asia remained the only bright spot for Europe’s largest economy, the BGA trade association said.