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Commodity Markets Outlook - October 2024

November 4, 2024

Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook. Even so, overall commodity prices will remain 30% higher than they were in the five years before the COVID-19 pandemic.

From 2024 through 2026, global commodity prices are projected to plummet by nearly 10%. Global food prices are set to fall 9% this year and an additional 4% in 2025 before leveling off. 

New EU car registrations: September statistics

October 24, 2024

In September 2024, new EU car registrations continued their downward trajectory (-6.1%) with negative results across three of the region’s four major markets: France (-11.1%) and Italy (-10.7%), with the German market declining by 7%. On the other hand, Spain experienced a healthy rebound (+6.3%).

BMW: photovoltaic electricity generated directly from plant

October 21, 2024

BMW Group Plants Dingolfing and Regensburg will obtain electricity generated from renewable energy directly from their own roofs. Dingolfing’s rooftop PV system, with a capacity of 11.1 MWp, will be one of the most powerful in Germany. To achieve this objective, the premium automotive manufacturer is renting roof space at its two plant sites in Eastern Bavaria to Sunrock Holding Deutschland GmbH, which will generate electricity using photovoltaics and make it available to the plants under direct supply contracts from 2025 onwards.

Dacia unveils the new Bigster and participates in 2024...

October 15, 2024

All-New Bigster is tailored to the specific requirements of a steadily growing market. Spiralling costs are an issue for many C-SUV segment buyers, who want to buy a new car without compromising on comfort, performance and space. At the Paris Motor Show 2024 from 14 to 20 October, Dacia has exhibited the world premiere of the New Bigster and, for the first time in France, the new 2024 models: New Spring, New Duster and the latest versions of the Jogger and Sandero Stepway.

Tesla unveils Optimus humanoid robot that 'Can do...

October 14, 2024

At We, Robot event, the much-awaited Tesla Cybercab took centre stage. According to Musk, the potential of the Optimus robot is nearly limitless. He mentioned that the robot can perform tasks like walking your dog, babysitting, mowing the lawn, and even serving drinks.

He predicted that the long-term cost would be between $20,000 and $30,000. 

Volkswagen integrates Google’s AI into the myVW mobile app

October 9, 2024

Volkswagen announced the deployment of generative AI within the myVW mobile app through a strategic partnership with Google Cloud. Volkswagen is leveraging Google Cloud’s industry-leading AI and machine learning capabilities, as well as expertise from Google Cloud Consulting, to power Volkswagen’s new myVW Virtual Assistant and provide vehicle owners with intuitive access to critical vehicle information and services.

Hyundai and Waymo enter multi-year, strategic partnership...

October 7, 2024

Hyundai Motor Company and Waymo announced they have entered into a multi-year, strategic partnership. In the first phase of this partnership, the companies will integrate Waymo’s sixth-generation fully autonomous technology – the Waymo Driver – into Hyundai’s all-electric IONIQ 5 SUV, which will be added to the Waymo One fleet over time. The IONIQ 5’s well-appointed and spacious interior will offer plenty of legroom, headroom, and rear cargo space for a comfortable rider experience.

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