Car sales in China increase more than expected - Beijing wants to boost the market

PEKING - The Chinese car market performed slightly better than previously estimated in March. Car deliveries rose by an estimated seven percent year-on-year to 1.7 million vehicles, the China Passenger Car Association (PCA) announced in Beijing on Wednesday based on preliminary data. An early estimate in March had assumed an increase of just under four percent. The decisive factor was the 28 percent increase in sales of electric cars (NEV - new energy vehicles). Almost two weeks ago, the PCA association attributed this to high price discounts. The Chinese authorities also want to further boost car sales.

ROUNDUP: Car manufacturers have a mixed start in the USA - VW up significantly

RESTON - The car manufacturer Volkswagen has made noticeable gains on the US market at the beginning of the year. BMW was also able to point to a slight plus. VW subsidiary Audi, on the other hand, did less well, and experts also expect Porsche to have a difficult start to the year. Mercedes-Benz is also likely to have sold fewer cars. In general, US car buyers were price-conscious in the face of high new car prices and high interest rates and opted for comparatively inexpensive models.

Intel expects losses in contract manufacturing for years to come

SANTA CLARA - The US chip manufacturer Intel expects its contract manufacturing business to continue making losses for years to come. Last year, the operating loss of the newly formed division grew from 5.2 billion US dollars (6.5 billion euros) to 7 billion, as the company announced on Tuesday evening in Santa Clara, California. Intel is publishing its business figures in a new structure with immediate effect. Group CEO Pat Gelsinger expects that the division will only generate an operating profit in a few years' time.

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ROUNDUP: You are reading a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha