💪👎✂️ BMW says price cuts are for quitters and real G's raise their prices. The company's car earnings increased to 12.1% from 8.9% year over year. Still, they say price increases are likely as production prices and competition shift.
📉😎 Due to weaker demand in China, VW's operating profits fell 31% through Q1 compared to last year. However, a recovery in the European and American markets increased revenue by 22%. Still, the 14.5% drop in deliveries in China was enough to drag operating profits down. Nevertheless, the company remains confident about its 2023 financial targets thanks to a solid Q1 and a 1.8M unit backlog in Europe.
🤺🥊🥋 Alfa Romeo will release its first electric car this year on the path to going all-electric by 2027. The company has plans to take the fight to Tesla, saying, "they are kicking everybody's a$$." The Stellantis-owned brand's glove-slap to Musk and his position atop the global EV market will be an all-electric SUV in the North American market.
💻🚗🙅♂️ Ford's Jim Farley said the company lost the in-car software battle 10 years ago, and that's ok. While GM, Tesla, and several other brands have other opinions about letting customers use Apple CarPlay and Android Auto, Ford has no intention of disrupting the services for the 70% of Ford buyers who are also Apple customers.
👍🚀🐦 While they are not seeing eye to eye on the future of in-car software, Tesla CEO Elon Musk did tweet this week in support of Ford's EV strategy, despite over $700M in losses by the brand's electric segment. So that's nice.