According to Reuters, Stefan Hartung, chief executive officer of German auto parts supplier Bosch Group, said that growth in the global automotive and commercial vehicle markets is expected to be very slow this year and next. Stefan Hartung said in the off-site area of the IAA Transportation Trade Fair in Hannover, Germany, that the demand in the global automotive market is currently lower than what the automotive industry expected five years ago, in which the number of cars produced in Europe is expected to be a few million units less than the expected number five years ago. At the same time, […]
Mercedes-Benz has cut its full-year financial expectations due to weak results in China, delivering another blow to the struggling German auto industry, Bloomberg reports. On Sept. 19, Mercedes-Benz said it lowered its adjusted profit margin forecast for its main automotive business to “7.5-8.5 percent” from 11 percent previously. Sales of Mercedes-Benz’s most expensive models, such as the S-Class and Maybach sedans, have been hit by a further cooling of demand in China, the company’s biggest market. Meanwhile, Mercedes-Benz said it expects its earnings before interest and taxes (EBIT) this year to be “significantly […]
The latest data shows that new car sales in the EU in August 2024 unexpectedly fell to a three-year low, showing that the auto market is facing severe challenges. Statistics show that new car registrations in August fell by more than 10% year-on-year, hitting the lowest level since 2021. Analysts pointed out that this trend was mainly affected by multiple factors such as global supply chain problems, inflationary pressures and weakening consumer confidence. At the same time, as governments around the world implement stricter environmental protection policies and promote electric vehicles, sales of traditional fuel vehicles have also been significantly impacted. More and more consumers are beginning to […]
In the context of advancing renewable energy technology, South Korean researchers have recently announced the successful development of transparent solar cells. This innovative technology allows car windows to not only provide visibility but also effectively collect solar energy to supply additional power to vehicles. The transparent solar cells utilize new materials that offer excellent light transmittance and high energy conversion efficiency. The research team stated that the cells’ transparency allows them to seamlessly integrate into automotive designs without obstructing the driver’s view. They can collect solar energy through car windows and sunroofs, providing power to the vehicle’s electronic devices. The application prospects for this technology are vast. In […]
According to a newly released report by Transport & Environment (T&E), it is predicted that the share of battery electric vehicles (BEVs) in the EU automotive market could reach 24% by 2025. This growth trend reflects the increasing focus on sustainable transportation and the policy support from various governments to promote electric vehicle usage. The report highlights that EU countries are ramping up investments in electric vehicle infrastructure, including the construction of charging stations and upgrades to the power grid. These initiatives will significantly enhance the user experience for electric vehicle owners and encourage more consumers to transition to battery electric vehicles. T&E’s research indicates that as […]
Recently, Renault announced a $350 million investment in Argentina to establish a new production line specifically for manufacturing pickup trucks. This move highlights Renault’s confidence in the Latin American market and underscores the company’s strategic focus on electric and multifunctional vehicles globally. Renault’s executives stated, “Argentina is an important market for us in South America, and investing in pickup production will help us meet local consumer demand while advancing our sustainability goals.” The new production line is expected to commence operations within the next two years and will create hundreds of jobs locally, as well as stimulate the development of related supply chains. This investment will not only […]