Burberry revealed that first-quarter sales dipped 35% in the country which is a vital market for its clothing. Prior to the pandemic, approximately one-third of the global luxury industry was reliant on Chinese spending, both at home and aboard as tourists. Excluding China, Burberry’s sales were up 16% globally, but when included, sales only rose […]
Elon Musk has shared a dose of bad news for his electric vehicle company Tesla, explaining that its new factories in Germany and the United States are losing billions of dollars due to battery shortages and supply disruptions in China. Musk referred to Tesla’s Berlin and Austin, Texas plants as “gigantic money furnaces.” "Both Berlin […]
In May of this year, Elon Musk's electric vehicle company Tesla sold 32,165 China-produced vehicles, including 22,340 for export. This is according to the China Passenger Car Association. In contrast, April of this year saw Tesla sell 1,152 vehicles and export none as the company’s Shanghai factory halted work for 22 days from late March […]
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