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- The Telegraph
‘Huge discounting’ drives surge in electric car demand as petrol sales plunge
Electric vehicles (EVs) were the only type of car to post an increase in sales last month amid “huge manufacturer discounting”.
- The Guardian
Electric car sales grow in UK despite decline in overall vehicle market
Carmakers sell 29,800 electric cars in October as diesel models drop by a fifth and petrol cars by 14%
- Yahoo Finance Video
What Trump's victory means for EV industry, Musk
Following former President Donald Trump's 2024 victory, one of the big sectors in focus for Wall Street is the EV (electric vehicle) industry. Wedbush analyst Dan Ives believes a Donald Trump presidency would be "a huge positive" for Tesla (TSLA) and its CEO, Elon Musk, a strong supporter of the president-elect. However, automakers like Tesla, Ford (F), General Motors (GM), Stellantis (STLA), and Rivian (RIVN) could feel the impact if Trump were to repeal EV tax credits. Yahoo Finance Anchor Brad Smith breaks down some of the big takeaways in the video above. For more market reaction to the 2024 election, click here. This post was written by Kevin Hall
- Bloomberg
BMW, Porsche lead auto stock rout on Trump tariff fears
(Bloomberg) -- BMW AG and Porsche AG led German automaker shares lower over concerns the US will hike tariffs on imported cars after Donald Trump returns to the White House.Most Read from BloombergParis Restricts Through Traffic in City CenterFrom Housing to Immigration, Key Ballot Initiatives and Local Races to FollowBMW, which reported disappointed quarterly earnings earlier Wednesday, fell as much as 7.5% in Frankfurt. Porsche, the maker of 911 sports cars, dropped to its lowest intraday valu
- Time
Why Sit-Down Chain Restaurants Are Struggling
Full-service chains like Red Lobster, TGI Fridays and others are having a hard time
- Reuters
Toyota to post first profit drop in 2 years as demand cools after big run
Toyota Motor is expected to post its first profit drop in two years when it reports second-quarter earnings on Wednesday, signalling cooling demand after a run of robust earnings helped by a consumer shift away from electric vehicles. The world's largest automaker is nonetheless expected to deliver almost $8 billion in quarterly operating profit, benefiting as drivers in several major markets opt instead for petrol-battery hybrids, which typically command higher profit margins than standard petrol cars. Still, recent sales and production figures have indicated a modest slowdown for Toyota.
- Associated Press Finance
Hit by scandal, Japan's top automaker Toyota reports lower profits
Toyota’s July-September profit sank to less than half of what it was in the same period the previous year, as a production stoppage that followed a certification scandal and recalls dented vehicle sales, the Japanese automaker said Wednesday. Toyota Motor Corp.’s quarterly profit through September totaled 573.7 billion yen ($3.7 billion), down from nearly 1.28 trillion yen the same quarter last year. Toyota, which makes the Camry sedan and Lexus luxury models, apologized and suspended production on some models after acknowledging wide-ranging fraudulent testing, including the use of inadequate or outdated data in crash tests, as well as incorrect testing of airbag inflation.
- Reuters
Toyota posts first quarterly profit drop in two years, hit by production woes
TOKYO (Reuters) -Toyota Motor posted on Wednesday its first quarterly profit drop in two years as its weaker sales and production issues in two crucial markets - Japan and the U.S. - stalled the Japanese automaker's recent record run. The world's top-selling automaker had been on a record profit run until earlier this year, with its heavy focus on hybrid models helping it benefit from growing consumer interest in more affordable vehicles compared to the costlier battery-powered electric vehicles amid soaring inflation. But quality issues at its truck and bus unit Hino Motors, heavy competition from Chinese brands in the world's biggest auto market, and a now-resolved production suspension of two models in the U.S. have started slowing its sales momentum in recent months.
- The Guardian
Burberry shares rise after reports Moncler is considering bid
Head of LVMH, an investor in Italy’s Moncler, reportedly keen to get deal done with British luxury brand
- Reuters
BMW quarterly profit misses expectations due to weak China sales, brake issues
LONDON/FRANKFURT (Reuters) -BMW on Wednesday reported a 61% drop in its third-quarter profit, missing analyst expectations because of slumping China sales and brake problems and sending its shares to their lowest level in more than 2-1/2 years. Shares in the premium carmaker and its German rivals Volkswagen, Mercedes-Benz and Porsche were all down 3%-5%, with traders citing a potential U.S. presidential election victory by Donald Trump, who has threatened broad tariffs on imports. Juergen Molnar, investment strategist at brokerage RoboMarkets, said that while BMW mostly blamed a weak Chinese business for its quarterly profit drop "the punitive tariffs threatened by Trump are likely to become a further negative factor on the already long list of car manufacturers".
- Wales Online
Prue Leith, 84, admits 'I'm near the end' as Great British Bake Off star issues update
The Great British Bake Off favourite, Prue Leith has provided a shocking life update as she says she's 'near the end'
- The Independent
I followed Harris and Trump round North Carolina. It’s clear to me who’s going to win
Eric Garcia reports from a state Trump won twice — but is now panicking about
- Manchester Evening News
Aldi told it's 'gone too far' over new £2.59 mince pies
The retailer had already predicted the Christmas product would spark a debate
- The Independent
Celebrities react as Donald Trump wins 2024 US election to become president
Film, TV and music stars are sharing their responses to the election result
- Manchester Evening News
Actress Helen McCrory dies aged 52
Helen McCrory has died from cancer aged 52, her “heartbroken” husband Damian Lewis has said.
- The Conversation
Guy Fawkes’ punishment was one of the most severe in English history – here’s what happens when a body is hung, drawn and quartered
By anatomically dissecting each stage of this medieval punishment, we can understand the profound agony the gunpowder plot co-conspirators endured.
- Evening Standard
How tall is Barron Trump? 18-year-old towers over Republican dad during US election victory speech
Barron Trump’s height stole the show at an election night event in Florida
- The Telegraph
Scrap the pensions triple lock and make university free
Following a Budget in which not a single scrap of meat was thrown in the direction of the young, the Labour Party has decided to rub salt in our open wounds.
- The Independent
Jon Stewart sends furious message to pollsters after US election results
‘I don’t ever want to f***ing hear from you again,’ said ‘The Daily Show’ host in a savage closing message
- Hello!
Meet Only Fools and Horses star Gwyneth Strong and her famous husband
Only Fools and Horses star Gwyneth Strong is married to soap star Jesse Birdsall - find out more about her family life away from the spotlight...