German automotive giant Porsche SE announced its financial results for the first nine months of 2024, revealing a significant decline in net profit. The company reported a 33% drop in after-tax earnings, which fell to €2.5 billion, largely due to the performance of its investments in Porsche and Volkswagen. According to the report, the decline in profits was primarily due to underperformance in the returns from its investments in the two automotive brands, especially in light of global market uncertainties and fierce competition. Despite the setback, Porsche SE expressed cautious optimism for the future and reaffirmed its commitment to supporting Volkswagen’s ongoing cost-reduction initiatives, expecting that the German carmaker […]
According to Bloomberg, people familiar with the matter revealed that in the negotiations with China on an electric vehicle tariff alternative, the European Union believed that the current progress was very limited and the prospects of the agreement were quickly reached. After a week of talks in China, both China and the European parties have claimed to have made some progress, and this week China and the European Union will continue to conduct technical talks. However, people familiar with the matter said that the possibility of reaching […]
According to Reuters, on November 11, the CEO of the three major computer chip manufacturers in Europe said that the United States, China and European governments demanded that their own semiconductor production lines in various regions are increasingly becoming an obstacle to the development of semiconductor enterprises. In the context of Donald Trump’s re -election, Germany’s CEO of Infineon, French joint venture, STMICROELECTRONICs, and Dutch Enshi Semiconductor (NXP) attended a game together Activity. They said that in the past ten years, these three companies have been facing challenges of uncertainty and trends of nationalist industrial policy. […]
According to Reuters, Southeast Asian Industrial Park developers said that there have been companies that have always moved factories from China to Southeast Asia. If the next President of the United States Trump imposed high tariffs on products imported from China, it is expected that this trend will accelerate this trend will accelerate this trend will accelerate this trend will accelerate. Essence Trump threatened to impose as much as 60%of tariffs on products imported from China during the campaign, which is much higher than the tariff rate of “7.5%to 25%” in his first term. Therefore, developers of Southeast Asian Industrial Park are increasing […]
According to Automotive News, automotive seat supplier Adient’s net profit and comprehensive revenue declined last quarter due to difficulties in the European and American markets. From July to September this year, Adient’s revenue fell 4% year-on-year to $3.562 billion; net profit was $79 million, a year-on-year decrease of 41%; adjusted EBITDA remained stable at $235 million. In terms of the market, Adient’s sales in Europe and the Americas fell 8% and 6% respectively last quarter, while sales in China increased by 5%. The company’s chief financial officer Mark Oswald said that the reasons for the decline in performance in the Americas included the stagnation of large-volume projects such as […]
After a week of technical negotiations in China, the two sides said that they had made some progress in reducing or withdrawing “the EU’s tariffs on Chinese electric vehicles.” The European Commission said the negotiations had made “technical progress,” and the Chinese Ministry of Commerce agreed in a separate statement. Previously, both the EU and China had pointed out that the two sides still had major differences on how to resolve the EU’s so-called unfair subsidies for Chinese electric vehicles. China and the EU have been seeking to reach an agreement on so-called price commitments, a complex mechanism to control the price and quantity of automobile exports, designed to […]