Cars

With Torcal, the luxury marque enters a new era, one shaped by innovation but guided by the craft, refinement and emotional pull that make it unmistakable

It wants to rebuild profitability after China’s ongoing price war and heavy spending on its electric-car overhaul squeezed returns

Its app has a proprietary model that uses AI and public data sources to calculate fair valuations

China is projected to export around 12 million cars this year, up from around 3 million in 2022

Its AutoLoan product, launched on Sep 9 for Grab drivers, is undergoing beta testing with consumers

Manufacturers must contend with overcapacity, declining domestic sales and possible EU restrictions

C&C acquisition would add automotive distribution to its growing energy, chemicals and infrastructure platform

They are effectively shut out of the US currently

Move reflects BAIC’s further expansion into right-hand drive markets in Asia-Pacific