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Sunday, June 2, 2024

CHI Health Center hosts Midlands Auto Show; RVs featured this year - KETV Omaha

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POLITICAL CAREER. TIME NOW 736. THE NEWEST TRUCKS AND CARS ON THE MARKET. THEY’RE ROLLING THROUGH THE OMAHA METRO STARTING TODAY AT THE C-H-I HEALTH CENTER. DOZENS OF MANUFACTURERS ARE READY FOR THE GREEN LIGHT. KETV NEWSWATCH SEVEN’S EVAN TAYLOR IS LIVE WITH A PREVIEW OF THE MIDLANDS INTERNATIONAL AUTO SHOW KALE. THIS YEAR’S MIDLAND INTERNATIONAL CAR SHOW IS DOING MORE THAN JUST SHOWING PEOPLE CARS. IT’S ALSO TRYING TO HELP RECRUIT A LITTLE MORE PEOPLE TO THE INDUSTRY AND TO TALK A LITTLE BIT MORE ABOUT THE INITIATIVE THAT HAPPENED YESTERDAY. TIM WEBB IS JOINING US. AND, TIM, I KNOW THAT YOU SAID THAT PEOPLE WERE ABLE TO ACTUALLY MAYBE EVEN LOOK INTO CAREERS WITHIN THE CAR INDUSTRY TO KIND OF TELL US A LITTLE BIT MORE ABOUT THAT EFFORT. YEAH. SO WE HAD A CAREER FAIR ON FRIDAY FROM TEN TO NOON AND ALL THE DEALER GROUPS WERE DOWN HERE AND METRO COMMUNITY COLLEGE AND SOUTHEAST COMMUNITY COLLEGE WAS HERE TO TALK TO PEOPLE ABOUT A CAREER IN AUTOMOTIVE TECH. I MEAN, THERE ARE LOTS OF PROGRAMS AVAILABLE THAT DON’T EVEN TAKE TWO YEARS TO COMPLETE. THERE’S LOTS OF TUITION REIMBURSEMENT AVAILABLE AND SCHOLARSHIPS AND AUTO TECHS MAKE VERY GOOD MONEY. IT’S A REALLY GOOD CAREER CHOICE FOR A LOT OF PEOPLE. YOU HAVE TO HAVE A LOT OF MATH ABILITY AND COMPUTER. IT’S IT’S NOT JUST ALL GETTING UNDER A CAR ANYMORE. UM, SO THAT WAS THAT WAS REALLY POPULAR. WE HAD A LOT OF PEOPLE TALKING TO OUR REPRESENTATIVES THAT WERE HERE. SO COOL. TIM. THANK YOU SO MUCH FOR GIVING US THAT INFORMATION. AND, UH, GOOD NEWS FOR YOU ALL. IF YOU STICK AROUND NEXT, WE’RE GOING TO BE ACTUALLY TAKING A LOOK AT SOME CARS THAT FAMILIES CAN SEE R

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Midlands International auto show opens for last day at CHI Health Center

Workers said the show this year showcases the latest in automotive innovation and offers career fair

The Midlands International Auto will open for its final day at the CHI Health Center in downtown Omaha, offering a glimpse into the latest automotive offerings.Traditionally, the auto show has been held in the winter; this year's event took advantage of better weather, so organizers changed the timing.One highlight of this year's auto show is the addition of an automotive career fair. With modern vehicles' increasing complexity, there's a growing demand for trained personnel to handle their high-tech features.Attendees can expect to see various vehicles on display, including trucks, classic cars, and vehicles designed for motorsports. In a first for the event, RVs will also be showcased.Smaller modes of transportation, including a bicycle zone, will be available for families. Additionally, the auto show will serve as a hub for information on electric vehicles, catering to those curious about the latest eco-friendly transportation options.The Midlands International Auto Show will be open for guests to explore on Sunday from 10 a.m. to 5 p.m.Click here for the latest headlines from KETV NewsWatch 7

The Midlands International Auto will open for its final day at the CHI Health Center in downtown Omaha, offering a glimpse into the latest automotive offerings.

Traditionally, the auto show has been held in the winter; this year's event took advantage of better weather, so organizers changed the timing.

One highlight of this year's auto show is the addition of an automotive career fair. With modern vehicles' increasing complexity, there's a growing demand for trained personnel to handle their high-tech features.

Attendees can expect to see various vehicles on display, including trucks, classic cars, and vehicles designed for motorsports. In a first for the event, RVs will also be showcased.

Smaller modes of transportation, including a bicycle zone, will be available for families.

Additionally, the auto show will serve as a hub for information on electric vehicles, catering to those curious about the latest eco-friendly transportation options.

The Midlands International Auto Show will be open for guests to explore on Sunday from 10 a.m. to 5 p.m.

Click here for the latest headlines from KETV NewsWatch 7

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CHI Health Center hosts Midlands Auto Show; RVs featured this year - KETV Omaha
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Bear of the Day: Li Auto (LI) - Nasdaq

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Company Overview

Zacks Rank #5 (Strong Sell) stock Li Auto Inc (LI) is an innovator and leader in China’s emerging electric vehicle (EV) market. Li Auto is a pioneer in the Chinese EV market, particularly regarding extended-range electric vehicles, sport utility vehicles (SUVs), and “smart EVs.” Though Li Auto offers a premium product, it has a premium price tag. The Mega multi-purpose vehicle, the company’s first fully electric model, comes with a sticker price of nearly $80,000. Though it was once considered the “Chinese Tesla (TSLA),” other Chinese EV makers have taken off while Li’s fully electric model fell short of Wall Street’s delivery expectations by more than 50%.

Biden Hikes Tariffs on Chinese EVs

Until recently, former U.S. President Donald Trump was thought by investors as being a bigger stickler on China than current president Joe Biden. On both sides of the political aisle, U.S. politicians, auto manufacturers, and business people are growing concerned about China’s dominance in the EV market. Recently, the Biden administration shocked Wall Street and made headlines by quadrupling tariffs on Chinese EV imports to 100% while also taking aim at other EV-related products, such as lithium-ion batteries. Though Li Auto does not currently sell cars in the United States, investors have been hoping to eventually expand internationally. However, the dramatic EV hikes likely ended Li’s chances of accomplishing expansion any time soon.

Domestic Competition is Fierce in China

With international expansion unlikely, prospective Li Auto investors should evaluate the Chinese EV market. Elon Musk, the “Godfather” of the electric car and the world’s richest man, knows a thing or two about electric cars. In a recent talk, Musk called Chinese EV manufacturers “extremely good.”  A great example of a Chinese EV maker firing on all cylinders is Warren Buffett–backed BYD Auto. Unfortunately for Li Auto, BYD’s cheapest model starts at a bargain basement price of $9,700, which should make Li’s expensive models a tough buy in the struggling Chinese economy. Meanwhile, Li Auto faces fierce competition from Tesla (who has cut prices dramatically in China) and other Chinese EV makers like Nio (NIO).

Relative Weakness

LI is a laggard, is down nearly 40% year-to-date, and is stuck below its moving averages.

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Eps Falling

Last quarter, EPS plunged 68% year-over-year, illustrating that the company’s fundamentals mirror the poor price action.

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Image Source: Zacks Investment Research

Bottom Line

Deteriorating fundamentals, relative weakness, and a cutthroat Chinese EV market spell danger for Li Auto shareholders.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Bear of the Day: Li Auto (LI) - Nasdaq
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