If you have been following the news, you will know that it has been the Geneva Motor Show this week. Some would argue the most important show of them all, certainly outside of NADA in the United States, it really sets the direction for the year for most of the automotive industry. And this year the talk has been about two things, electric cars (we've been talking about them for some time now) and a trade war with the United States. And what that will do to car production and car sales.
The trade war thing does not seem to be welcome in many quarters, but it was part of Trump's election ticket so he will have to give it a go. But say what you will about Pres Trump, I don't think BMW will be criticising him too much at the moment. They have just reported substantially better results for last year, 26% up on profitability with improved volumes, turnover and, they say, much reduced tax liabilities in the aforesaid United States. It is reputedly their best year ever. Whether a trade war is exactly what they need going forward is open to debate.
As we move through the first quarter of the year and everybody gets used to their new salaries, or not if you did not manage to get a pay rise, spare a thought for one worker in the United States. Elon Musk, owner, chief executive and everything else of Tesla, is struggling to convince shareholders of his $2.6 billion pay package. It can be tough when your salary is geared so much towards targets, but then I always say once you've earned your first billion, nothing much after that matters. So I am sure they will come to an arrangement that will keep both sides from the breadline.
Have a great weekend, enjoy the rugby tomorrow. It's nice not to be snowed in for a change.
