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Significant Profit Decline Among Major European Car Manufacturers for the First Half of 2024

Five of Europe’s largest car manufacturers recently reported a significant decline in profits for the first half of 2024. This drop is attributed to several key factors, including weak demand for electric vehicles (EVs), cost competition from Chinese manufacturers, and rising research and development (R&D) expenses.

Volkswagen Faces Major Challenges

Volkswagen’s CEO, Oliver Blume, highlighted rising costs and lower factory utilisation during a recent earnings conference. Blume stated, “We have made all the necessary technical decisions. We have implemented the relevant organisational measures. Now, our primary focus is on costs, costs, and costs.”

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BMW Expands X3 Range with New Extended-Wheelbase Models for China

BMW is launching a new iteration of its popular X3 Sports Activity Vehicle (SAV) exclusively for the Chinese market, featuring a longer wheelbase and enhanced interior comfort. This new version, the BMW X3 25L xDrive and BMW X3 30L xDrive, marks the brand’s commitment to catering specifically to the preferences of Chinese consumers.

The extended wheelbase of the new X3 models, increased by 110mm to 2,975mm, significantly enhances rear-seat legroom, providing a more comfortable experience for passengers. The updated BMW X3 boasts an exterior length of 4,865mm and a width of 1,920mm, making it the largest in its competitive segment. The new design incorporates the brand’s latest styling cues with a sleek roofline and modern proportions that reflect BMW’s current design language.

Inside, the BMW X3 offers a luxurious environment with the latest BMW iDrive system based on the BMW Operating System 9. This system includes digital services tailored specifically for the Chinese market. The interior features a BMW Curved Display, BMW Interaction Bar, and a steering wheel with a flattened lower rim. High-quality materials, such as Veganza sports seats and optional “Crafted Clarity” glass applications, contribute to a premium feel. The panoramic glass roof with optional Skylounge lighting adds to the ambience, providing a sophisticated touch to the vehicle’s interior.

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Volkswagen Aims to Redefine Hot Hatch Fun with Electric GTI

Volkswagen is setting high expectations for its upcoming electric GTI, promising a driving experience that could surpass that of its internal combustion engine (ICE) predecessors. VW CEO Thomas Schäfer recently shared that the electric GTI, inspired by the ID. GTI Concept, will feature an advanced chassis and suspension designed to make it “even more exciting to experience and drive” than any previous GTI model.

The assertion that an electric vehicle (EV) could be more thrilling than traditional GTIs is met with both intrigue and skepticism. Historically, the GTI has not relied solely on sheer power; instead, it has earned its reputation through exceptional handling and dynamic driving characteristics, as seen in models like the Mk7 GTI. Even without the iconic VR6 engine present in many of its iterations, the GTI’s performance credentials have remained strong.

Volkswagen is not new to the challenge of marrying performance with innovation. The company’s approach with the electric GTI involves leveraging EV technology to enhance driving dynamics. According to VW’s R&D boss, Kai Grünitz, the objective is to create an EV with “an agile steering feel and a very smooth way of driving it through curves.” Grünitz emphasises the desire to maintain the GTI’s hallmark agility and road feedback, aiming for a vehicle that is “fast but smooth.”

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Stand a Chance To Win RM5000 With BHPetrol!

Known for its myriad of creative contests that rewards winners with everything from holidays to gold bars, BHPetrol is once again hosting a contest called ‘Peraduan Pam & Beli, Syoknya Menang’.

This time, the contest is handing out RM5,000 to 10 lucky first place winners, RM3,000 to 10 second place winners, and RM3,000 petrol vouchers each to 20 third place winners.

Taking part is easy as well, you just have to spend RM40 on petrol, diesel and/or shop items in a single transaction. This does not include tobacco items, Touch n’Go top ups, ePayments, utility payments or carwash transactions.

If you are a BHPetrol eCard member, your entry will get an automatic entry to the contest with double the chances of winning. For non-BHPetrol eCard members, you simply have to fill in a form after scanning a QR code.

The contest is being held until the 31st of August 2024. Don’t miss this chance of taking home some cash or getting free petrol or diesel.

Click here for more information.

Ferrari Discontinues SF90 Stradale and 812 GTS

Ferrari has announced the discontinuation of the SF90 Stradale and the open-top 812 GTS as part of its Q2 2024 financial results. The decision marks the end of the line for these models after nearly half a decade of sales, reflecting the marque’s strategic adjustments in response to changing market dynamics and sales performance.

Despite a 2.7 per cent increase in overall shipments year-on-year, Ferrari reported a decline in sales for several models, including the Roma coupe and 812 Competizione, as they approach the end of their lifecycles. The SF90 Stradale and 812 GTS, which were introduced five years ago, will be phased out. This move comes amidst a slight decline in hybrid vehicle sales, with Ferrari seeing a shift back towards internal combustion engine (ICE) vehicles in Q2.

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Isuzu Malaysia Launches Isuzu Insurance Pro for Enhanced Vehicle Protection

When purchasing insurance for vehicles, many owners often encounter confusion, especially when it comes to claims or assistance. Realising the gaps in coverage only after an incident can be frustrating. To address these concerns and simplify the process, Isuzu Malaysia introduced the Isuzu Insurance Pro, a comprehensive insurance policy designed to ensure optimal protection for Isuzu vehicles and their drivers.

Isuzu Insurance Pro is available for all Isuzu vehicles, whether for new purchases or policy renewals. This policy not only provides extensive coverage but also offers numerous premium benefits tailored to enhance the Isuzu ownership experience.

The Isuzu Insurance Pro policy is underwritten by a panel of five leading insurance and takaful companies. It covers all D-Max models and the full spectrum of Isuzu trucks, including light-, medium-, and heavy-duty variants such as the ELF, FORWARD, and GIGA, including prime movers.

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Latest News

Significant Profit Decline Among Major European Car Manufacturers for the First Half of 2024

BMW Expands X3 Range with New Extended-Wheelbase Models for China

Volkswagen Aims to Redefine Hot Hatch Fun with Electric GTI

Stand a Chance To Win RM5000 With BHPetrol!

Ferrari Discontinues SF90 Stradale and 812 GTS

Isuzu Malaysia Launches Isuzu Insurance Pro for Enhanced Vehicle Protection

Hyundai Acknowledges Touchscreen Woes, Brings Back Physical Controls

Nissan Sells A Significant Portion Of Its Shares To Mitsubishi

RON95 Fuel Subsidy Targeting: Economists Favor MyKad Quota Over Cash Assistance

Mercedes-Benz Expands in Asia-Pacific with New Regional Logistics Center in Malaysia

Test Drive The New Omoda C9 This Weekend!

GWM Malaysia Secures 1,500 Bookings for the Haval H6 HEV

PDRM Accumulated RM6.53 billion in Unresolved Summons Since 1990

Audi Expands in China: New SAIC Partnership to Launch Premium AUDI EV Models

Malaysia Introduces High-Speed Weigh-In-Motion System to Curb Overloaded Vehicles

Continental Tyres Partners with TNG eWallet for Seamless Purchase and Installation

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