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UBS has maintained a "Neutral" rating on Renault with a target price of 47 euros. Analyst David Lesne highlighted the company's new strategic projects, including the acquisition of Nissan's 51 percent stake in the Indian joint venture, and noted that Renault has reaffirmed its annual forecast.
UBS has maintained a "Neutral" rating on Renault with a target price of 47 euros, following the announcement of new strategic projects by the carmakers. Analyst David Lesne noted Renault's acquisition of Nissan's 51 percent stake in the Indian joint venture and expressed confidence in the company's annual forecast.
Japan’s Nikkei average closed at a two-week low, dropping 680 points (1.8%) to 37,120.33, driven by concerns over U.S. tariffs on imported cars and parts. Automakers like Toyota and Honda saw significant declines, contributing to a market value loss of nearly $20 billion in three days. All 33 industry sub-indexes on the Tokyo Stock Exchange fell, with the brokerage sector experiencing the steepest drop at 4.52%.
Huawei is poised to announce a revenue of 860 billion yuan ($118 billion) for 2024, signaling a potential victory over US sanctions as its smartphone sales surged by 25% year-on-year, reaching 45 million units. The company has also made strides in smart driving solutions and chip development, collaborating with global automakers like Nissan and BMW. Despite ongoing restrictions, Huawei's self-developed products and operating system, HarmonyOS, are gaining traction, positioning the firm for growth in the competitive tech landscape.
Nissan is set to implement a new leadership structure under president Ivan Espinosa, aiming to streamline decision-making by reducing corporate executives. The company plans to launch at least 13 new models by 2028, including hybrid versions of the Rogue SUV, while also seeking a partner for next-generation software development after failed merger talks with Honda. Despite these efforts, Nissan anticipates a net loss for the current fiscal year, marking its first in four years.
Shares of Japan's major automakers fell sharply after President Trump announced a 25% tariff on auto imports, with Toyota down 3.7%, Nissan 3.2%, and Honda 3.1%. The auto industry is crucial to Japan's economy, accounting for about 10% of jobs and a significant portion of US-bound exports. Japanese officials have sought tariff exemptions but have faced refusals, raising concerns about the broader economic impact.
The Swiss stock market opened sharply lower, mirroring declines in the US and Asian markets due to impending US tariffs on the automotive sector. Analysts express concerns over a potential global trade war, with all leading Swiss stocks declining except for Lindt, which saw a slight gain. The SMI fell 1.42% to 12,771.07 points, reflecting widespread bearish sentiment among investors.
Foxconn will hold a seminar in Japan on April 9 to present its electric vehicle (EV) strategy, targeting local automakers and suppliers. Jun Seki, the company's chief EV strategy officer and a former Nissan executive, is set to speak at the event. This follows Foxconn's recent agreement with Mitsubishi Motors to produce EVs for Oceania, marking its first outsourcing deal with a Japanese automaker and indicating a potential shift in Japan's automotive landscape amid rising competition from Chinese manufacturers like BYD.
Cathie Wood attributes Tesla's demand challenges to both political dynamics and a struggling economy, affecting not just Tesla but the entire auto industry. Despite recent vandalism and competition, she remains optimistic, predicting Tesla's stock could reach $2,600 in five years, contingent on the launch of a lower-priced model and advancements in self-driving technology. Wood believes that successful autonomous vehicles could transform Tesla into a software-centric business, enhancing the utility of existing cars.
The GCC electric vehicle market is projected to grow from $1.62 billion in 2024 to $10.44 billion by 2034, driven by sustainability initiatives and supportive government policies, achieving a CAGR of 22.3%. Saudi Arabia is leading the region with a national EV manufacturing hub and integration into public transport, while global automakers expand their presence. Despite challenges like high upfront costs, advancements in battery technology are expected to narrow the price gap, further boosting EV adoption.
Nissan Motor Co., Ltd.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs maintains neutral rating on renault with target price of 47 euros
00:34 01.04.2025
ubs maintains neutral rating on renault with target price of 47 euros
17:50 31.03.2025
Nikkei falls to two-week low as automakers decline on tariff fears
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09:10 28.03.2025
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13:57 27.03.2025
swiss stock market declines amid global trade war fears and us tariffs
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08:20 27.03.2025
cathie wood highlights economic and political factors impacting tesla demand
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18:02 25.03.2025
gcc electric vehicle market projected to reach ten billion by 2034
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