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":"d31d82c33dbda20c6edb7b08835bf1da","s":"f0a973be259f90b8"}
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