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S&P expects trade relations between Mexico and the United States to remain strong. Uncertainty surrounding the renegotiation of free trade agreements is dampening investor sentiment.S&P downgraded Mexicos rating outlook to "negative" due to reduced fiscal flexibility, while affirming its "BBB" foreign currency rating.Nvidia (NVDA.O) will hold its annual online conference on June 24.May 13 - According to SEC filings, Nvidia (NVDA.O) President and CEO Jensen Huangs total compensation for fiscal year 2026 is $36.3 million.On May 13th, U.S. chip stocks experienced one of their toughest trading days of the year on Tuesday, with some of the markets best-performing stocks experiencing dramatic reversals. Broadcom (AVGO.O), Intel (INTC.O), and Micron Technology (MU.O) were among the five worst-performing stocks in the S&P 500 and Nasdaq 100 indices. The Philadelphia Semiconductor Index, which has risen more than 60% year-to-date, fell as much as 6.8% intraday, its biggest intraday drop in over a year, before ultimately closing down 3%. Almost all of its components closed lower, with Qualcomm (QCOM.O) leading the decline with an 11.4% drop. The only gainer was Nvidia (NVDA.O), which has underperformed the sector as a whole this year. Murphy, co-head of derivatives strategy at Susquehanna International, said, "The historic rally in chipmakers cant last forever. This sell-off was due long ago after the incredible surge, but because the market is still gripped by FOMO, this pain may not last long."

Toyota Lowers Troublesome Electric Vehicle Leasing Rate to Increase Demand

Aria Thomas

Oct 26, 2022 14:13

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On Wednesday, Toyota Motor (NYSE:TM) Corp. began leasing orders for its first mass-produced electric vehicle (EV) in Japan, eliminating a one-time fee to promote interest in a car that was recalled two months after its market launch.


In its home market, where consumers prefer not to worry about battery life and resale value, the bZ4X crossover is only available for leasing.


When it debuted the vehicle in May, Toyota charged a one-time application fee of 770,000 yen ($5,175) and 107,800 yen each month for the first four years of a 10-year contract.


On Wednesday, the application fee will be 385,000 yen and the monthly fee will be 1,100 yen. KINTO, the Toyota business that leases, president Shinya Kotera said early signups get a discount.


He added that the EV will be available for commercial lease starting Wednesday.


The pricing is "painful" and unlikely to boost sales, but KINTO will still make a profit, the former Toyota executive told Reuters in an Oct. 19 interview that was released Wednesday.


After discovering that quick corners and sudden braking could lose a hub bolt, the company recalled the bZ4X and stopped production two months after its sale. Production resumed October 6.


The model was the centerpiece of a late global EV plan by a corporation once lauded by environmentalists and green investors for its groundbreaking hybrid petrol-electric technology but now ridiculed for its late adoption of all-electric vehicles.


On Monday, Reuters reported that Toyota is considering a new start one year into its $38 billion electric vehicle (EV) plan to compete in a market growing faster than expected.


Due to the recall and a cautious approach to electric vehicles in a country without charging infrastructure, Kotera said Toyota would struggle to lease 5,000 bZ4X crossovers in the current fiscal year.


"I don't believe we are in an environment where people would rush at the chance to purchase the bZ4X," he said. Thus, we must persevere.

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