Top 5 Automotive Highlights of the Week
Ferrari Unveils the 2026 Amalfi: A Sharper, Smarter Heir to the Roma
Ferrari has officially revealed the 2026 Amalfi, a new grand tourer that succeeds the Roma with sharper design, refined technology, and dedicated performance upgrades. While preserving the Roma's elegant proportions, the Amalfi adopts Ferrari's latest styling language, replaces the unpopular haptic buttons with physical ones, and enhances interior comfort. Power comes from an improved 3.9-liter twin-turbo V8 engine producing 631 hp, delivering quicker acceleration and a more responsive drive. New features include brake-by-wire, an active rear spoiler, and advanced driver assistance systems. With an expected price between $275,000 and $300,000, the Amalfi represents a sophisticated leap forward in Ferrari's grand touring legacy.
Lexus Tops J.D. Power's Initial Quality Study, Nissan Impresses in Second
Lexus has secured the top position in the 2025 J.D. Power U.S. Initial Quality Study with the lowest number of reported issues—166 problems per 100 vehicles. Based on the responses of over 92,000 owners of 2025 models, the study highlights major changes in early ownership experiences. Nissan surprised the industry by ranking second overall—and first among mass-market brands—with 169 problems per 100 vehicles, outpacing several luxury names. Meanwhile, Audi landed at the bottom with 269 issues, followed by Volvo and Infiniti. Though Tesla, Cadillac, and Toyota each logged 200 problems, they were excluded from the formal rankings due to methodological reasons.
The All-New ROX 01 Officially Arrives in Our Region
The ROX 01 has officially launched in regional markets and was put to a rigorous triple-terrain test by the ArabGT team—on racetracks, in the desert, and across rugged mountains. This luxurious Chinese family SUV impressed with its private-jet-level interior—featuring reclining massage seats, multiple screens, and a serene atmosphere—and its powerful dual electric motors generating 470 hp. It also includes a smart range-extending gasoline engine, giving it an impressive total range of over 1,100 km. From Musab's smooth urban drive in Dubai, to Suhaib pushing it to its limits on the Umm Al Quwain track, and Kareem tackling sand dunes and rocky trails, the ROX 01 proved to be a rare blend of luxury, durability, and advanced tech.
Fiat Banks on Affordable Hybrid 500 to Revive Italian Production
Stellantis is betting on a €17,000 hybrid Fiat 500 to revive its declining production in Italy, which recently hit its lowest point since 1956. Revealed at the Mirafiori plant in Turin, the new model—equipped with a 12-volt lithium battery—will be manufactured alongside its full-electric sibling starting this November. Fiat plans to produce 5,000 units this year and over 100,000 annually. As a more practical and affordable alternative to the €30,000 EV version, the hybrid aims to combat weak demand and rising competition from Asia. Fiat also confirmed a lower-cost EV version coming in 2027, and is already working on a new-generation 500 expected around 2030 in both hybrid and electric formats.
Chinese Automakers Fast-Track Global Dominance with Unmatched Speed and Efficiency
Chinese automakers are rapidly redrawing the global automotive landscape, outpacing Western rivals in both technology and market presence. A special Reuters report highlights how brands like BYD and Chery have slashed development cycles to just 18 months—far shorter than the traditional 5-year timeline. From 2020 to 2024, these companies doubled their sales by combining aggressive pricing strategies with cutting-edge EV technology, placing pressure on legacy players like GM, Volkswagen, and Tesla. As they expand globally, industry experts warn that the unmatched speed and operational efficiency of Chinese firms could significantly shift the balance of power in the global market.
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Al Arabiya
16 minutes ago
- Al Arabiya
Elon Musk should worry about his companies, not politics: Treasury Secretary Bessent
US Treasury Secretary Scott Bessent on Sunday threw some shade at Elon Musk after the tech billionaire announced he had created a political party, suggesting the Tesla and SpaceX boss focus on business and not politics. On Saturday, the South African-born Musk -- an ally-turned-critic of President Donald Trump -- said he was founding the 'America Party' to challenge what he called the country's 'one-party system.' When asked by CNN if Musk's plan bothered the Trump administration, Bessent offered a thinly veiled criticism of the world's richest person. 'I believe that the boards of directors at his various companies wanted him to come back and run those companies, which he is better at than anyone,' Bessent said. 'So I imagine that those board of directors did not like this announcement yesterday and will be encouraging him to focus on his business activities, not his political activities.' Bessent said the principles of the so-called Department of Government Efficiency, which Musk ran for several months as part of Trump's drive to slash government spending and jobs, were 'very popular.' But he added: 'I think, if you looked at the polling, Elon was not.' Musk and Trump were once very close, and Musk was the top donor to the Republican's 2024 presidential campaign. But the pair had a bitter falling out over the president's massive domestic spending plan, with Musk saying it would explode the US debt. The billionaire, who has held US citizenship since 2002, has vowed to do everything in his power to defeat lawmakers who voted for it. Musk left DOGE in May to focus full-time on his corporate responsibilities, with Tesla's sales and image especially suffering from his brief venture into Trump's inner circle. Wedbush Securities analyst Dan Ives, a longtime backer of Tesla who had encouraged Musk to step back from DOGE, said creating a political party was the wrong move. 'Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,' Ives said. 'While the core Musk supporters will back Musk at every turn no matter what, there is a broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track,' he added. 'Initial relief' among Tesla shareholders over Musk's DOGE departure has 'taken a turn for the worst,' Ives said. In after-hours electronic trading, Tesla shares were down 0.85 percent at midday Sunday.
Al Arabiya
2 hours ago
- Al Arabiya
Trump slams Musk's bid to start new political party
President Donald Trump blasted Elon Musk's bid to start a new political party, as the intensifying feud between the former allies deepens concerns among investors over the implications for Tesla Inc. and other companies helmed by the world's richest man. 'Third parties have never worked, so he can have fun with it, but I think it's ridiculous,' Trump told reporters on Sunday. The US has 'always been a two-party system,' he added. Musk said on Saturday that a new 'America Party' he has been threatening to launch 'is formed,' a day after Trump signed a tax-cut and spending bill into law that Musk had denounced. He didn't provide details of the political party and there's no immediate indication that he has filed official paperwork. The latest move by Musk signals a longer-term commitment to politics, a development set to further unnerve Tesla investors who have wanted the company's chief executive officer to focus more on increasing profits for shareholders. The company's stock, which has lost more than 20 percent this year, was set to take a further hit when trading resumed on Monday. Shares of Tesla were nearly 5 percent lower in alternative trading system Blue Ocean in the Asia morning on Monday, according to Kok Hoong Wong, head of institutional equities sales trading at Maybank Securities. Musk's 'major beef' with Trump shows no signs of slowing and his latest move will likely push the president to further isolate the Tesla co-founder from the Oval Office, according to Wedbush analyst Daniel Ives, who noted that there's some exhaustion related to the focus on politics for the company's leader. He expects Tesla shares to come under pressure as investors fret over the impact of Musk's move. 'Very simply Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,' Ives wrote in a note dated July 6. The 'political gamble' may draw Tesla's board of directors to get involved depending on how far Musk takes it, he added. The company's core auto business is facing headwinds around the world, with Musk's political actions increasingly casting a shadow over the brand. Global sales tumbled 13 percent in the second quarter, putting Tesla on course for a second consecutive annual decline. In China, it's facing aggressive competition from the likes of BYD Co. and Xiaomi Corp., which offer newer, more affordable, feature-laden EVs. Shipments from Tesla's Shanghai factory recently rose for the first time in eight months, but at an incremental 0.8 percent pace. Tesla's taken an even bigger hit in Europe, which has emerged as its weakest market. In May, the company's overall sales in the region slid for a fifth consecutive month, down almost 30 percent, as the broader EV market there expanded. 'Off the Rails' Musk in May exited the administration in a dramatic blowup with Trump that ended his role heading the Department of Government Efficiency drive to cut federal spending. After initially appearing to back off his feud with Trump, Musk last week renewed criticism of the president's 'insane' spending bill. He said it gave 'handouts to industries of the past while severely damaging industries of the future,' and would raise the federal debt ceiling by $5 trillion. Musk made the announcement of a new 'America Party' on his X social network after posting the results of a poll on the platform that he said showed 65 percent of respondents in favor of doing so. He said one way to break the two-party system would be to focus on winning a small number of Senate and House seats in order to serve as the deciding vote on contentious laws. Later on Sunday, Trump amplified his comments in reaction to the new party in a post on his Truth Social network, saying he was 'saddened to watch Elon Musk go completely 'off the rails'' over the past five weeks. Trump also touted his budget package that 'unfortunately for Elon' eliminates the electric vehicle subsidy. Treasury Secretary Scott Bessent suggested Sunday that Musk should stick to business rather than politics. 'I believe that the boards of directors at his various companies wanted him to come back and run those companies, which he is better at than anyone,' Bessent said in reply to a question on CNN's State of the Union. 'So I imagine that those board of directors did not like this announcement yesterday and will be encouraging him to focus on his business activities, not his political activities,' Bessent said. Third Parties While independent candidates periodically win seats in the Senate and House of Representatives, third parties have traditionally struggled to gain traction in the US's winner-take-all political system. Ross Perot's presidential bid for the Reform Party in 1996 marked a high-water point for third-party candidates in presidential elections, when he captured about 8 percent of the popular vote but failed to win any states. Not all investors opposed Musk's move to create a party. Jason Hsu, CIO at Rayliant Global Advisors Ltd., called it a 'genius move' that could potentially boost Musk's political power and ultimately help protect his companies. 'We will see some initial volatility,' Hsu added. 'Some investors would be concerned with Elon's distraction and perhaps many don't yet see this move as the best move to protect Tesla from the wrath of the current Trump administration.'
Asharq Al-Awsat
3 hours ago
- Asharq Al-Awsat
Trump Calls Musk's Formation of New Party ‘Ridiculous'
US President Donald Trump on Sunday slammed former ally Elon Musk's launching of a new political party as 'ridiculous,' after the tech billionaire said he wanted to challenge the country's 'one-party system.' 'I think it's ridiculous to start a third party,' Trump told reporters before he boarded Air Force One on his way back to Washington from his New Jersey golf club. 'It's always been a two-party system, and I think starting a third party just adds to confusion. Third parties have never worked,' he said. Trump added, 'So he can have fun with it, but I think it's ridiculous.' Musk, the world's richest man, spent some $270 million underwriting Trump's 2024 re-election effort and, for a time, regularly showed up at the president's side in the White House Oval Office and elsewhere. Musk spearheaded the Department of Government Efficiency (DOGE), aimed at cutting government spending, before he pulled back his involvement in late May, saying he would now be allocating far more time to his electric vehicle company Tesla, which reported a huge drop in profit and sales worldwide since the tech tycoon made a brief venture into Trump's inner circle. Shortly after his pull back from DOGE, the two men were exchanging bitter insults on social media after Musk criticized Trump's flagship spending bill. As the bill made its way through Congress, Musk had threatened to form the 'America Party' if 'this insane spending bill passes.' That bill passed the Senate by a narrow margin midday Tuesday. In response, Musk carried out his threat and announced that he is establishing the 'America Party.'
