Automotive
January 24, 2024
Worldwide, automakers are seeing record returns as they disclose their financials for the end of 2023. Image credit: Porsche
By Zach James
One trend has become clear as high-end automakers publish end-of-year earnings reports for 2023.
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","iv":"3b275f4e78564a9181adf5a2dfcffa21","s":"e5c8541f42a7cda2"}
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