Automotive

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

Content is king, until it isn’t

The likes of Zontes and CFMoto have zoomed into the top ranks for new registrations, with competitive prices and attractive designs

Awareness that incentives will be lower in 2027, impending changes to system keeping premiums high for mainstream cars

Shifting R&D to the country helps traditional automakers bulk up their tech abilities

It marks a fourth straight month of declines amid Middle East disruptions and competition in China