Tuesday, April 29
Tesla Inc. overtook one of Germany’s most prized premium car brands last year despite selling fewer vehicles than expected.Volkswagen AG’s Audi sold 1.67 million vehicles in 2024, down 12% from a year earlier. Its struggle with intensifying competition in Europe and China and weak demand for its electric models dropped the brand behind Elon Musk’s Tesla, which delivered 1.79 million vehicles last year.117202225Germany’s automakers are contending with tepid demand for luxury cars in China, where a recovery remains uncertain and local manufacturers are pushing further upmarket. In Europe, EV sales are below expectations after several countries cut subsidies. The problems led to a wave of profit warnings last year, including from Volkswagen, Mercedes-Benz Group AG and BMW AG.Audi’s
The ASEAN region, alongside India, stands out as a major beneficiary of the ongoing geopolitical shifts. India's trade is forecasted to grow at an impressive 6.4 per cent annual rate, reaching USD 1.8 trillion by 2033 according to Boston Consulting Group (BCG) report.Nishant Gupta, Managing Director and Partner at BCG India, highlighted India's growing appeal as a global manufacturing hub, stating, "India is poised to redefine its role in global trade, with a projected annual growth rate of 6.4 per cent in both GDP and trade over the next decade." ASEAN's trade is similarly set to grow at 3.7 per cent annually, driven by enhanced manufacturing capabilities and deeper integration into industrial value chains.BCG's analysis reveals that with the proposed 20 per cent US tariff hike across-the
Bank of India is marketing its first dollar syndicated loan since 2012 of as much as $400 million, people familiar with the matter said, at a time when more Indian borrowers are tapping global credit markets.The Indian lender is raising the loan — split into three- and five-year tranches — via its branch located in Gujarat International Finance Tec-City, India’s newest financial hub, said the people, who asked not to be named discussing private matters. CTBC Bank Co. and Standard Chartered Plc are the arrangers of the facility, the people added. An external media representative for Bank of India confirmed the receipt of an email requesting comment, but wasn’t immediately able to give further details when contacted by Bloomberg News.Bank of India joins a slew of other Indian borrowe
Apple Inc. sold 5% fewer iPhones globally and lost ground to Chinese rivals in the final quarter of last year, reflecting the absence of Apple Intelligence in its largest market outside the US.The iPhone slipped a point to 18% worldwide market share in 2024, according to Counterpoint Research data. Archrival Samsung Electronics Co. also gave up share to faster-growing Android device makers from China, led by Xiaomi Corp. and Vivo. Apple marked a 2% sales decline for the full year, according to the research, at a time that the wider market grew 4% globally.Cupertino, California-based Apple has been playing catchup on artificial intelligence, with its suite of AI enhancements rolling out in stages following the launch of the iPhone 16 in September. Those AI additions are not yet available in
