Automotive

The US president has pressured automakers to shift more production home, imposing higher tariffs on imported cars and parts

New import rules aim to spur local EV investment, but affordability and consumer choice remain key concerns

The premium carmaker reports a 35% drop in quarterly pretax earnings to 1.7 billion euros (US$1.95 billion)

China brands and Tesla race up the charts as traditional carmakers lose more ground 

Wu Chong is alleged to have evaded taxes on 123 cars, while another car dealer, Goh Chee Sing, faces charges for funding him

The charges relate to around S$15,000 in underpaid GST and excise duty; he faces a maximum fine of around S$300,000

Adjusted earnings were US$0.33 a share in Q2, missing the US$0.51 average of analyst estimates compiled by Bloomberg

Observers say the market has normalised, though strong demand may mean little hope of major price drops

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