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U.S. stocks closed: Concerns over tariffs triggered market sell-offs, with all three major Indexes closing lower.
① Most China Concept Stocks rose, with the Nasdaq China Golden Dragon Index up 1.35%; ② OpenAI's valuation is expected to rise to 300 billion; ③ Trump hinted that he still opposes Japan's acquisition of United States Steel; ④ Hedge fund manager Bill Ackman greatly increased his position in Uber Technologies.
In January, electric vehicle sales in Germany surged by 54%, with disappointing performance from Tesla.
Last month, Tesla was the biggest loser in Germany's electric vehicle market, as consumers turned away from this brand held by Elon Musk and opted to buy more Volkswagens, Seats, and BMWs. Detailed data released by the Federal Motor Transport Authority on Friday showed that Volkswagen had the fastest growth, with electric vehicle sales increasing by 6,521 units year-on-year. The increase for Volkswagen's sub-brand Seat ranked second, reaching 2,520 units. The authoritative institution KBA stated that the total electric vehicle sales in Germany surged by 54% in January, but Tesla's sales decreased by 1,875 units. Tesla is in the EU's largest electric vehicle market.
Volkswagen Unveils Plan For Entry-Level, $20K ID Electric Car: Details
Audi returns to traditional naming amidst the anxiety of transformation and uncertainty.
In the past two years, Audi made a bold decision to use a new naming convention to distinguish between gasoline and electric vehicles, driven by its ambitious bet on electric cars.
The pain of tariffs has spread from Asia to the USA, and global auto stocks have generally fallen.
Auto stocks around the world dropped on Monday, as USA President Donald Trump’s new tariffs could cut sales from factories in Mexico and Canada. Stocks of Toyota Motor and Nissan Motor fell during the Asian trading session, while Volkswagen and Stellantis NV led the decline in European auto stocks. General Motors and Ford Motor also dropped in pre-market trading in the USA. Trump is set to impose a 25% tariff on commodities from Mexico and Canada starting Tuesday, casting doubt on supply chains that have existed for decades, particularly for global auto manufacturers that have established production centers in Mexico and primarily supply the USA market.
Volkswagen Unit Sues Indian Government Over $1.4B Tax Bill: Report