The global illness is impacting the auto industry
Tesla, like many other brands and economies around the world, is feeling the full effect of the spreading coronavirus. The companies shares fell after registrations in China showed a significant slowdown in the demand for Teslas. Business has all but stopped thanks to the quick spreading coronavirus and the effect is having a huge impact on the production and purchasing of new Tesla vehicles in China. This new downturn shows that the U.S. automaker is not immune to challenges that the larger industry is facing.
General Motors is one of the first automakers to have an autonomous vehicle be approved for testing and to carry passengers in California. The AV will be able to carry passengers as long as a safety driver is present and there can be no monetary compensation from the passengers. Including General Motors, there are five automakers in the United States that hold this type of permit for autonomous vehicles.
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Tesla has Weak China Registrations Before Brunt of Virus
Tesla Inc. shares fell after China registration data indicated a significant sequential slowdown in demand before the electric-car maker started feeling the brunt of any impact from the coronavirus.
Registrations of new Tesla cars plunged 46% to 3,563 in January from December, according to state-backed China Automotive Information Net, which gathers industry data based on insurance purchases. Of the January registrations, 2,605 were for cars built in China. Read more
Summary: Tesla, like many other brands and economies around the world, is feeling the full effect of the spreading coronavirus. The companies shares fell after registrations in China showed a significant slowdown.
Tesla sinks on weak China registrations before brunt of virus https://t.co/L1tKO8hidJ via @business pic.twitter.com/uLknN2a76R
— Yahoo Finance (@YahooFinance) February 27, 2020
GM autonomous vehicle cleared for testing
The permit will allow Cruise to test under specific guidelines. The AV will be able to carry passengers as long as a safety driver is present. There also must be no monetary compensation from the passengers. Learn more
Summary: General Motors is one of the first automakers to have an autonomous vehicle be approved for testing and to carry passengers in California. The AV will be able to carry passengers as long as a safety driver is present.
GM autonomous vehicle cleared for testing https://t.co/SfAtI5vyiA pic.twitter.com/hIz6vqQfOP
— AutoNews Europe (@AutoNewsEurope) February 26, 2020