auto sales

 
 

US tariffs could raise auto prices by US$83b, trade group says

WASHINGTON, July 19 — A group representing major automakers will tell the US Commerce Department today that imposing tariffs of 25 per cent on imported cars and parts would raise the price of US vehicles by US$83 billion (RM336.9 billion) annually…


Strong auto sales boosts US retail spending in June

WASHINGTON, July 16 — US retail spending forged higher in June, with a second straight month of accelerating auto sales as the summer driving season set in, the Commerce Department reported today. Americans also spent more in bars and restaurants…


China factory growth slows in June as trade tensions rise

BEIJING, June 30 ― Growth in China's manufacturing sector slowed in June after a better-than-expected performance in May, official data showed, as escalating trade tensions with the United States fuel concerns about a slowdown in the world's…


Automakers warn US tariffs will cost hundreds of thousands of jobs, hike prices

WASHINGTON, June 27 — Two major auto trade groups today warned the Trump administration that imposing up to 25 per cent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten…


Volvo opens US plant in timely hedge against trade spat

NEW YORK, June 20 — When Volvo Car Group broke ground on its first US assembly plant in 2015, it was a proud step in the Swedish automaker’s rebound and global expansion, not a chess move in anticipation of a possible trade war. Now that the…


A tricky tax reversal to SST

True to its pre-14th General Election (GE14) manifesto, the newly minted government, Pakatan Harapan (PH), is delivering its promises of abolishing the goods and services tax (GST) and replacing it with the Sales and Services Tax (SST). The transition to the implementation of the SST, which will be taken in stages, starting June 1 with […]


China holds fire on rates, posts ‘shockingly weak’ activity

BEIJING: China’s economy is finally starting to cool under the weight of a multi-year crackdown on riskier lending that is pushing up borrowing costs for companies and consumers, with data yesterday pointing to a broad slowdown in activity in May. China’s central bank sparked concerns over the health of the economy earlier in the day […]


Fed says US economy grew 'moderately' amid strong manufacturing

WASHINGTON, May 31 — The US economy expanded moderately through much of April and May, a subtle upgrade from previous periods, with little indication of overheating, a Federal Reserve survey showed. The central bank’s Beige Book economic report,…


Indonesian stocks storming back as foreigners return to market

JAKARTA, May 24 — While most of the world’s equities have dropped in recent days, the Jakarta Composite Index has rallied 3.5 per cent for the top gain among Asian equity gauges. Today, the Indonesian benchmark measure surged as much as 2.5 per…


Tax-free period will likely boost car sales

KUCHING: With the upcoming goods and services tax (GST) and sales and service tax (SST) tax-free window, analysts are expecting to see a temporary boost for auto sales during the period. After GST is zero-rated effective June 1, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) expects that SST to only be […]