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Technology Stocks : "NIO, XPEV, LI, BYD.. China's Quads

BYDDF 12.50

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Lance Bredvold

From: roto	12/15/2024 6:44:15 AM
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Automakers Thrived in the Pandemic. Many Are Now Struggling. Changing technology, political turmoil and competition from China are cutting into profits and forcing carmakers to cut jobs and close factories. The threat by President-elect Donald J. Trump to impose tariffs on imports from China, Mexico and Canada could pose a challenge to automakers with plants in Mexico like BMW and Volkswagen. Credit...Benedicte Desrus for The New York Times By Jack Ewing Jack Ewing has covered the auto industry for more than 20 years. Dec. 15, 2024, 3:00 a.m. ET A few years ago, automakers were celebrating record profits as the pandemic created shortages of new cars, allowing them to raise prices. Now the hangover is setting in. Nissan, the Japanese automaker, is laying off 9,000 employees. Volkswagen is considering closing factories in Germany for the first time. The chief executive of the U.S. and European automaker Stellantis, which owns Jeep, Peugeot, Fiat and other brands, quit after sales tumbled. Even luxury brands like BMW and Mercedes-Benz are struggling. nytimes.com

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