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Retail Asia03/11/2022

Electric vehicle giant Tesla has closed what had been its flagship showroom in China as the company adjusts its sales and service strategy in its second-largest market, two people with knowledge of the matter said. Tesla shut the showroom in Beijing’s Parkview Green, an upscale downtown shopping centre late last week, according to the people, […]

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Retail Asia03/11/2022

Volvo Cars reported sales of 54,317 cars in October, up 6.9 percent compared with the same month last year. The company’s line-up of Recharge models represented 36.8 percent of the sales last month, with fully electric cars accounting for 15 percent of total sales. During the January-to-October period, Volvo Cars’ retail sales reached 483,304 cars, […]

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Retail Asia31/10/2022

General Motors Co said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company. The largest U.S. automaker said it was “engaging with Twitter to understand the direction of the platform under their new ownership.” Twitter did not immediately respond to a request […]

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Retail Asia31/10/2022

There has already been speculation about it, now it’s official. After 47 years and over 18 million units, production of the Ford Fiesta will end in the summer of 2023, as electric vehicles are on the brand’s agenda in the future. Developed as the “Bobcat” project, the first Ford Fiesta was launched in 1976. Developed at […]

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Retail Asia28/10/2022

Tesla Inc is recalling just over 24,000 U.S. 2017-2022 Model 3 vehicles over a seat belt issue. The Austin-based electric vehicle company said the second-row left seat belt buckle and second-row center seat belt anchor may have been incorrectly reassembled during vehicle service. It told the National Highway Traffic Safety Administration it had reports of […]

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Retail Asia27/10/2022

Honda Motor Co said on Thursday it would reduce car output by up to 40% at two Japanese plants for the rest of October from its earlier plans, as the company battles with persistent supply chain and logistical problems. Two lines at Honda’s Suzuka plant in western Japan will cut production by about 20% in […]

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Retail Asia26/10/2022

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The Indonesian government seems to be pulling up its socks in a bid to catch up with other markets in the EV space. According to a Reuters report, Indonesia invited Ford Motor Company and Hyundai Motor Company to set up its operational base related to electric vehicles in the Southeast Asian country. The report states […]

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Retail Asia26/10/2022

Elon Musk has revealed that Tesla will not get any approvals for driverless cars in the U.S. (which means that the car wouldn’t need any input from the driver to operate). At the time in 2016 when Tesla had launched the AutoPilot stack, Musk had falsely predicted that permissions would be achieved by 2020 and […]

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Retail Asia21/10/2022

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The world’s top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production, according to a Reuters analysis of public data and projections released by those companies. The EV investment figure, which has not previously been […]

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Retail Asia20/10/2022

Tesla’s quarterly report on Wednesday will likely show whether the Elon Musk-led electric-vehicle maker is facing any weakness in demand that is starting to weigh on the wider auto industry. Decades-high inflation, rising energy bills in Europe and signs of a weakening China market have raised doubts among some analysts about whether Tesla can buck […]

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Retail Asia20/10/2022

VinFast plans to set up headquarters in Germany, France and the Netherlands as it eyes a successful foray into key European markets for its electric cars. But it is unclear when the Frankfurt, Paris and Amsterdam offices will open. The company is set to open its first flagship store in Germany’s Cologne next month and […]

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Retail Asia17/10/2022

British automaker McLaren opened its first official Vietnamese showroom in HCMC on Thursday. The McLaren HCM reseller, located at the Deutsches Haus building in HCMC’s District 1, is invested and run by S&S Group. With an authorized reseller in Vietnam, McLaren said it would deliver the newest supercars for the Vietnamese elite class. At the […]

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Retail Asia17/10/2022

Tesla sold 83,135 China-made vehicles wholesale in September 2022, smashing its record of monthly sales in China, the China Passenger Car Association reported. The number marks an 8 per cent increase from August 2022 and outpaced more than the 5 per cent month-over-month growth of all wholesale electric vehicle sales in China, according to CPCA […]

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Retail Asia17/10/2022

Hang Xanh Motors Service Joint Stock Company, a major Mercedes-Benz car dealer, reported pre-tax profits of more than VND240 billion (US$10 million) in the first nine months, exceeding its full-year target. Consolidated revenues were up 50 percent year-on-year at VND5.17 trillion. In the third quarter they rose 2.7 times to VND2 trillion ($83.1 million). Haxaco’s […]

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Retail Asia13/10/2022

Auto sales rose by 8.5% in September to 33,463 units as the market slowly recovered amid tightening global spending. September marked a third straight month of increase in sales, according to the Vietnam Automobile Manufacturers Association (VAMA), which excludes the TC Group (which makes Hyundai cars) and VinFast. It represented a 247% rise year-on-year, admittedly […]

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Retail Asia12/10/2022

Japanese auto giant Nissan has announced its exit from the Russian market. The automaker’s Executive Committee approved the sale of its Russian operations to the state-owned NAMI, the Central Research and Development Automobile and Engine Institute. Nissan had stopped operations in Russia in March this year, following the invasion of Ukraine. It then ceased operations at the […]

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Retail Asia06/10/2022

Tesla Inc on Sunday announced lower-than-expected electric vehicle deliveries in the third quarter, as logistical challenges overshadowed its record deliveries. The top electric car maker said “it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost,” but some analysts were also concerned about demand for high-ticket items due to the […]

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Retail Asia26/09/2022

Tesla is reevaluating the way it sells electric cars in China, its second-largest market, and considering closing some showrooms in flashy malls in cities like Beijing where traffic plunged during COVID restrictions, two people with knowledge of the plans said. The shift would put more emphasis on stores in less-costly suburban locations that can also […]

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Retail Asia21/09/2022

Tesla is reevaluating the way it sells electric cars in China, its second-largest market, and considering closing some showrooms in flashy malls in cities like Beijing where traffic plunged during COVID restrictions, two people with knowledge of the plans said. The shift would put more emphasis on stores in less-costly suburban locations that can also […]

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Retail Asia19/09/2022

On August 25, Mercedes-Benz India recorded 2,46,000 views on its Twitter handle for the Mercedes-AMG EQS 4 MATIC+ launch live stream. And ever since it stepped in the Indian luxury EV space with the EQC electric SUV, the brand has observed a steady rise in interest around its electric models through its customer-engaging activities. Now that is confidence-inspiring […]

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