Wall Street Journal (January 3)
“Chinese automaker BYD for the first time topped Tesla as the world’s largest seller of electric vehicles on a quarterly basis, a sign of China’s emerging strength in the global market for battery-powered cars…. The Chinese rival’s ascent in the global pecking order has put new pressure on Tesla at a time when the U.S. electric-car maker is already leaning on steep price cuts to juice its sales.”
Tags: Ascent, Automaker, Battery-powered, BYD, China, Emerging, EVs, Global market, Pressure, Price cuts, Sales, Strength, Tesla, U.S.
Wall Street Journal (November 20)
“America’s spendthrift relationship with electric vehicles has lost some spark. It will take new generations of products to rekindle the romance on tighter budgets…. Whether or not adoption of EVs in the U.S. is actually stalling—the jury is out—it is clearly weaker than manufacturers were anticipating.” Average prices of EVs fell to “about $52,000 in October, down from around $65,000 a year ago” with U.S. sales levelling out at “around the 100,000-a-month mark.”
Tags: $52, 000, 65%, EVs, https://www.wsj.com/business/autos/are-americans-falling-out-of-love-with-evs-2c7e6a1a?page=1 U.S., Manufacturers, October, Sales, Spendthrift, Stalling, Tighter budgets, U.S.
Financial Times (September 15)
Internal combustion engines “are on their way out,” while sales of EVs “are set to increase worldwide from about 10mn in 2022 to about 14mn in 2023, or 18 per cent of all cars sold.” This partly explains legacy carmakers low valuations, but the switch also lowers barriers to entry. “Chinese imports already account for about 15 per cent of EVs sold on the continent,” with Chinese automakers hoping to seize more of “a $130bn revenue opportunity by 2030.”
Tags: $130bn, Barriers to entry, China, EVs, Ice, Imports, Legacy carmakers, Opportunity, Revenue, Sales, Valuations
Bloomberg (April 19)
“Sales of previously owned US homes fell in March by more than forecast, underscoring a housing market that’s still on shaky footing despite some signs of stabilizing.” Though inventory remains tight, “the median selling price of a previously owned home fell 0.9% from a year earlier to $375,700 in March — the largest decline since January 2012.”
Tags: Decline, Forecast, Homes, Inventory, March, Sales, Selling price, Shaky, Stabilizing, U.S., Underscoring. Housing market
Houston Chronicle (June 17)
“U.S. mortgage rates had their biggest one-week jump in 35 years…. The 30-year rate climbed from 5.23% last week to 5.78% this week, the highest its been since November of 2008 during the housing crisis.” This is likely to accelerate the trend as higher borrowing rates have already been cooling the housing market. “Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared.”
Tags: 2008, 30-year rate, 5.78%, Borrowing, Buyers, Home prices, Housing crisis, Jump, Mortgage rates, Sales, Soared, U.S.
Reuters (May 27)
Covid-related restrictions “have battered the world’s second-biggest economy even as most countries have been seeking to return to something like normal.” Although “China’s economy is now staggering back to its feet,” the recovery remains “grinding and partial… with businesses from retailers to chipmakers warning of slow sales as consumers in the country slam the brakes on spending.”
Tags: Battered, Businesses, China, Chipmakers, Consumers, Covid, Economy, Grinding, Normal, Partial, Recovery, Restrictions, Retailers, Sales, Staggering, Warning
WARC (January Issue)
“E-commerce is expected to account for one-third (33%) of sales among chain retailers worldwide this year, rising from 23% in the pre-pandemic year of 2019.” The growth is forecast to continue, “with e-commerce to take an almost two-fifths (39%) share of sales in 2026. This comes amid strong online growth and stable or declining physical store sales worldwide.”
Tags: Chain retailers, E-commerce, Growth, Online, Physical store, Pre-pandemic, Rising, Sales, Strong
Bloomberg (November 26)
“China’s economy continued to slow in November with car and homes sales dropping again as the housing market crisis dragged on.” While numbers for eight early indicators “stayed unchanged, under the surface there was a further deterioration in some of the real-time economic data.”
Tags: Cars, China, Crisis, Deterioration, Economy, Homes, Housing market, Indicators, November, Sales, Slow, Unchanged
The Detroit News (June 22)
“Suddenly, in just a matter of a few months, the vast dealmaking machinery that caters to wealthy entrepreneurs has started buzzing with a level of activity that some industry veterans say they haven’t seen before, potentially setting up a cascade of sales for later this year. A combination of high valuations on companies and potentially higher taxes in the future is proving to be a potent motivator.”
Tags: Cascade, Companies, Dealmaking, Entrepreneurs, Future, High valuations, Higher taxes, Sales, Wealthy
Seattle Times (June 1)
The cannabis industry “had a breakout moment during the pandemic. Legal cannabis sales in the United States passed $17.5 billion in 2020, a 46% increase over sales in 2019. For many Americans, stocking up on marijuana was as essential as stocking up on toilet paper. And the industry found a way to get it to them.”
Tags: Breakout moment, Cannabis, Essential, Increase, Industry, Legal, Pandemic, Sales, Stocking up, Toilet paper, U.S.
