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The European Automobile Manufacturers' Association reported that in October, sales of new cars in the European Union fell by 7.4% compared to the same month last year. The slowdown in the rate of decline compared with a fall of 23% in September brings hope for normalization in the European car market in the future. Several factors have had a negative impact on sales of new cars. Among them, the slowdown in China, the threat of the introduction of US import duties on cars from the EU, as well as the introduction of new emission standards for cars in the European Union.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest ...
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