Investment Week (June 22)
“UK inflation has hit another 40 year high of 9.1% in May, up from 9% in April. The slight increase from already record high inflation rate came largely from rising food and non-alcoholic beverage prices,” while gas and diesel prices rose to “the highest on record.” The “top financial priority” for 58% of UK adults is now “day to day costs, like paying bills and for food.”
MarketWatch (March 8)
“Car makers are facing a perfect storm of trade tariffs, slumping demand in the crucial Chinese market, and a backlash against diesel, which are together having a seismic effect on businesses. A shift toward electric and autonomous vehicles has not helped. They require vast investment and a different way of thinking.” Instead of the usual “corporate grins” at the Geneva Motor Show, there is “a collective grimace.”
Tags: Backlash, Car makers, China, Diesel, EVs, Geneva Motor Show, Grimace, Investment, Perfect storm, Slumping demand, Trade tariffs
The Drive (May 20)
Germany “is turning its back on traditionally powered cars and looking towards electric for its future. Data provided by Germany’s Federal Motor Transport Authority…shows a surprisingly sharp upwards trend in EV purchases compared to 2017.” The data also shows diesel sales are “withering” and reveals an unexpected surprise: “Kia’s Soul EV topped the charts by selling 721 units in April, followed by the BMW i3 with 491 cars.”
