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After launching BYD in Thailand as the Chinese electric vehicle maker's sole national distributor a little more than a year ago, siblings Pratarnwong and Pratarnporn Phornprapha were forced to rip up business plans frequently because sales kept rocketing. "The numbers were just moving way faster than we anticipated," said Pratarnwong, CEO of Rever Group, describing demand that was so strong that they asked BYD to ramp up supply. Pratarnwong and his sister Pratarnporn, in a rare joint interview last month, detailed how Rever helped BYD build out Thailand into its biggest international market in just 15 months...
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STOCK ALERT The Apple car is no more. Shares of Ford Motor General Motors and Tesla barely reacted. There is good reason for that. Apple is abandoning its long-gestating car project in favor of working more on generative AI...
Continue ReadingYounger investors — Millennials and Gen Z — seem to have FOMO as they are more likely to chase momentum behind earnings, according to Apex Fintech Solutions latest survey. Apex Fintech Solutions CEO Bill Capuzzi sits down with Yahoo Finance to discuss these FOMO trading trends observed from the most recent earnings seasons, especially across the Magnificent 7 tech stocks. "When I look at the data in terms of the pattern, those 26 and younger year olds, there was a bit of fear of missing out. The great earnings and the amount of activity in that name [Meta (META)] was significant compared to something like Uber (UBER), which also posted really good earnings," Capuzzi says. "What it tells me is you have this younger generation — this notion [of] Peter Lynch which is 'invest in what you know, invest in what you use' — in this case, you have this younger generation leaning into things they use today, number one, and number two, think that there's opportunity for that stock to continue to run." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan...
Continue ReadingCompetition in China’s car market is getting even more intense. That means cheaper Chinese electric vehicles. It is also terrible news for China’s competitors abroad. BYD, which overtook Tesla in EV sales last quarter, dropped another bomb last week—cutting prices of some models by more than 10%...
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Chinese automaker BYD is eyeing rapid international expansion after becoming the world's top electric vehicle seller. Just don’t expect the EV maker to come to the US anytime soon...
Continue ReadingApple (AAPL) has halted its decade long project to develop an electric car, according to a Bloomberg report. Senior Columnist Rick Newman notes Apple's profit margin on smartphones and software is far above that of automakers'. He says full-scale auto manufacturing "doesn't fit with [Apple's] business model" given the complexities of the market. With the Apple car now scrapped, Senior Tech Editor Dan Howley explains Apple's intentions to redirect investments towards generative AI and machine learning. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith...
Continue ReadingApple Inc. is scrapping an ambitious, decade-long effort to develop an electric car with self-driving capabilities, according to reports Tuesday...
Continue ReadingTesla stock opened higher for a second day, bringing it closer to recovering from a steep drop last month. The stock is close to making back a loss of 12% that came after the EV company released its fourth-quarter earnings without a clear forecast for unit sales volume for 2024...
Continue ReadingHere's everything you need to know about the electric vehicle maker's week...
Continue ReadingConsumer Reports (CR) named BMW the top overall pick in its 2024 Brand Report Card rankings, with the German automaker becoming the first back-to-back winner since 2017...
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