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Tesla means of production
Telsa barely made its production target last year, which pushed back revenue expectations. The company also suffered from disappointing sales in China. Lex wonders if this shows Tesla has a misaligned vision.
Daimler chief was paid Eur14.4m last year
Daimler has published the actual take-home pay of its senior managers under German corporate governance rules, and revealed that chief executive Deiter Zetsche earned Eur14.4m last year, making him Germany’s second highest paid employee.
Inflation hits lowest level on record in boon for consumers
Inflation has fallen to its lowest level in Britain in decades, as tumbling food and oil prices hand the conservatives a pre-election boost. Figures released yesterday showed prices in January were just 0.3 per cent higher than the same time a year ago, prompting predictions of a surge in consumer purchasing power.
Rolls Royce to head off with its first 4×4
Rolls-Royce has announced that it will put a SUV into production. The luxury 4×4 will be built at the company’s Goodwood plant, and is set to upstage its Range Rover and Bentley rivals. The news of Rolls-Royces’ commitment to a SUV came in an open letter to the industry from chairman Peter Scwarzenbauer and chief executive Torsten Müller-Ötvös. The letter announces the firm will be building an ‘all-new Rolls-Royce with exceptional presence and purpose.’
Driverless cars get green light
Motorists will not require a driving licence to use driverless cars. The news emerged yesterday as ministers prepared to allow the first trials on British roads. The decision is set to benefit the third of women without licences, the disabled, the elderly and busy parents, whose children could do the school-run unaccompanied.
Car dealer dominates used market
Pendragon is aiming to dominate the used-car market with a ‘click and collect’ online service. Potential buyers will be able to purchase vehicles anywhere in the country and have them delivered to a local outlet. The service was announced the day before the company reported annual results showing revenue up 3.9 per cent to £4bn and pre-tax profit up 66 per cent at £64.6m.
European market gains momentum in January
According to industry data, the recovery in Europe’s car market gained momentum in January, as improved consumer confidence, retail incentives and new product launches boosted demand for most brands.
Black Friday ‘hangover eats into online sales’
The hangover from Black Friday is refusing to budge fir Britain’s retailers after online sales grew far slower than expected in January. Online retail sales rose by just 7pc last month compared to the same month last year, well below the 12pc growth forecasted by IMRG and Capgemini, which collate the industry figures.
No UK shale oil production for two decades, says BP
There is unlikely to be any significant production of shale gas or oil in the UK and Europe for at least 20 years, according to BP’s starkest forecast yet of the fracking industry’s potential outside the US.