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Automotive Business

All articles tagged with #automotive business

automotive-business2 years ago

"Fisker Shifts Strategy with Dealer Partnerships Amid Sales Target Challenges"

Fisker Inc. has announced a new Dealer Partnership Model in North America, aiming to expand its sales and delivery network for its electric vehicles, including the Fisker Ocean. This model offers fixed customer pricing and larger market territories for dealers, fostering a competitive edge without local competition. In Europe, a hybrid of direct sales and dealer arrangements is planned. The strategy is designed to be asset-light and sustainable, avoiding costly changes to dealer facilities. Fisker will also maintain Fisker Lounges for brand experience and sales lead generation. The company plans to add up to 50 dealer partners in the US and Canada, and a similar number in Europe, to meet the growing demand for electric vehicles and prepare for future model launches.

via Fiskerati|
##automotive-business#dealerpartnershipmodel
automotive-business2 years ago

"Tesla Issues Massive 1.6M Car Recall Globally for Autopilot and Steering Glitches"

Tesla is recalling over 1.6 million electric vehicles in China, including Model S, X, 3, and Y, to address issues with automatic steering assist and door latch controls. The fixes will be applied mostly through remote software upgrades. This recall follows a similar action in the U.S. where Tesla aimed to improve driver monitoring systems after a series of crashes involving the Autopilot system. Tesla, a significant player in the Chinese EV market, continues to navigate the challenges of vehicle safety and driver assistance technology.

via WGAL Susquehanna Valley Pa.|
##automotive-business#autopilotsafety
automotive-business2 years ago

"Tesla Issues Massive 1.6M Car Recall Globally for Autopilot and Steering Glitches"

Tesla is recalling over 1.6 million electric vehicles in China, including Model S, X, 3, and Y, to address issues with automatic steering assist and door latch controls. The fixes will be applied mostly through remote software upgrades. This recall comes after a separate recall in the U.S. to improve driver monitoring systems linked to Autopilot, following a two-year investigation into crashes. Tesla, a significant player in the Chinese EV market, aims to enhance driver attention and safety with these updates.

via WXII12 Winston-Salem|
##automotive-business#autopilotsafety
automotive-business2 years ago

"BYD Dethrones Tesla as China's EV Champion, Targets Global Auto Dominance"

BYD has surpassed Tesla in the number of new energy vehicles produced in 2023, with four of its models ranking in the top 10 best-selling battery-powered cars in China, and seven including hybrids. The Qin Plus is BYD's bestseller, followed by the Seagull, Song Plus NEV, Yuan Plus, and Dolphin. These models offer a range of prices and driving ranges, catering to different market segments. BYD has also introduced a luxury brand, Yangwang, with its U8 model priced over 1 million yuan, while continuing to compete with Tesla and other electric car startups like Nio and Xpeng in the mass market.

via CNBC|
##automotive-business#byd
automotive-business2 years ago

"Stellantis Ends Century-Long Presence at Chicago Auto Show Amid Budget Constraints"

Stellantis is not participating in the 2024 Chicago Auto Show as a cost-saving measure following a challenging market and a UAW strike. This decision ends the nearly 20-year presence of the Camp Jeep test track and marks the first absence of Stellantis (and its predecessor brands) at the show in nearly a century. Despite this, the show will continue with 17 other automakers and several test tracks. Stellantis is focusing on retooling the Belvidere plant for future production, including a new midsize truck and an electric vehicle battery plant, with production expected to begin in 2027.

via Chicago Tribune|
##autoindustry#automotive-business
automotive-business2 years ago

"Ford's Strong 2023 Sales Surge Despite EV Slowdown and SUV Dip, Outpaces Industry Recovery"

Ford maintained its position as the second top-selling EV brand in the US after a record Q4 in 2023, with nearly 26,000 EVs sold, including the F-150 Lightning, the nation's best-selling electric truck. The Mustang Mach-E also saw its best sales year, and the E-Transit led in electric van sales. Despite this success, Ford is adjusting its EV strategy, slowing down investments, and focusing more on hybrids, with EVs making up only 3.64% of its total vehicle sales compared to 6.7% for hybrids. Tesla remains the market leader with a significant margin, delivering over 484,000 EVs in Q4 alone.

via Electrek.co|
##automotive-business#evsales
automotive-business2 years ago

Ford Revises F-150 Lightning EV Pricing Amidst Trim Changes and Market Competition

Ford has adjusted the pricing for its 2024 F-150 Lightning electric pickup range, with increases of up to $10,000 for the more affordable trims and decreases of up to $7,000 for the premium Platinum models. The changes come as the company experiences a slowdown in EV sales and follows a decision to cut production of the F-150 Lightning. The pricing strategy aims to optimize sales growth and profitability, as well as customer access to tax benefits, although the two Platinum models do not qualify for the federal tax credit. This move is part of Ford's broader strategy to adjust to the current demand for EVs, which has also led to a pause in plans for a new battery factory in Kentucky.

via The Verge|
##autoindustry#automotive-business
automotive-business2 years ago

"GM Counters Shrinking EV Tax Credit List with $7500 Discount Offer"

General Motors is offering a $7,500 incentive to buyers of certain electric vehicle (EV) models that no longer qualify for the U.S. federal EV tax credit due to recent changes in eligibility requirements. This move is aimed at mitigating the impact of the exclusion of models like the Chevy Blazer EV and Cadillac Lyriq, which lost their tax credit eligibility due to sourcing issues with two minor components. GM is committed to ensuring its upcoming EVs, such as the Chevy Equinox, GMC Sierra Denali, and Cadillac OPTIQ, will meet the criteria for the full tax credit following a change in sourcing. The incentive is GM's way of maintaining competitiveness in the EV market, as other manufacturers like Tesla and Ford continue to see success with their qualifying models.

via Electrek.co|
##autoindustry#automotive-business
automotive-business2 years ago

"Ford Adjusts 2024 F-150 Lightning Pricing, Shuffles Trim Options"

Ford has announced price adjustments for its 2024 F-150 Lightning lineup, with increases ranging from $2,000 to $10,000 for some models and decreases of $5,000 to $10,000 for premium models. The changes are part of a strategy to streamline offerings and improve quality by eliminating two trim levels. The XLT and Flash models are expected to be the most popular, while the Platinum models will not qualify for the federal tax credit. Dealers have accepted the price changes as a normal part of the business, noting that most of Ford's EV portfolio still qualifies for federal incentives. The price adjustments reflect Ford's broader strategy to cater to a growing market of EV consumers, including those who may not have initially considered an electric vehicle.

via Detroit Free Press|
##automotive-business#automotiveindustry
automotive-business2 years ago

"GM Counters Reduced EV Tax Credits with $7500 Discounts on Select Models"

General Motors (GM) is offering a $7,500 discount on certain electric vehicles (EVs) to offset the temporary loss of the federal EV tax credit for models like the Cadillac Lyriq and Chevrolet Blazer EV due to component qualifications. The Chevrolet Bolt will retain the full credit, while GM plans to adjust sourcing to regain eligibility for other models. The EV tax credit landscape has changed significantly, with only 19 EVs qualifying in the U.S. as of 2024, down from 43 in 2023. The IRS has also updated the process, allowing customers to receive the credit at the point of sale rather than through tax filings.

via TESLARATI|
##automotive-business#automotiveindustry
automotive-business2 years ago

"Ford Revises 2024 F-150 Lightning Pricing and Trims Amidst Market Shifts"

Ford has updated the pricing for its 2024 F-150 Lightning, the best-selling electric pickup in the US, with price increases for most trims and reductions for the high-end Platinum models. The base Pro trim now starts at $54,995, while the new Flash trim is introduced at $73,495. Despite the changes, all trims under $80,000 remain eligible for a $7,500 EV tax credit. The price adjustments aim to balance sales growth, profitability, and customer access to tax benefits.

via Electrek.co|
##autoindustry#automotive-business
automotive-business2 years ago

"2024's Guide to Maximizing Savings with New EV Tax Credits"

The Tesla Model 3 Performance has become an unexpectedly affordable option due to the U.S. federal EV tax credit, with a post-credit price of $43,490, making it cheaper than the Long Range version and the second most affordable Model 3 after the Rear-Wheel-Drive trim. The updated tax credit eligibility excludes certain Tesla models but still benefits others, including the Model Y and Model X variants. The tax credit is subject to vehicle price and buyer income limits, and regional incentives can provide additional savings. The Tesla Cybertruck currently does not qualify for the federal incentive, potentially due to its price exceeding the cap.

via TESLARATI|
##automotive-business#electricvehicles
automotive-business2 years ago

"Several EV Brands, Including Tesla, Nissan, and GM, Face Loss of US Tax Credits"

The U.S. Treasury announced that many electric vehicles, including the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, some Tesla Model 3s, and Chevrolet Blazer EV, lost eligibility for federal tax credits due to new battery sourcing rules aimed at reducing dependence on China. The number of qualifying EV models dropped from 43 to 19. Automakers are adjusting supply chains to meet the new requirements, with some vehicles expected to regain eligibility in 2024. The changes are part of the 2022 Inflation Reduction Act, which mandates North American assembly for tax credit qualification.

via Reuters|
##automotive-business#batterysourcingrules
automotive-business2 years ago

"Li Auto Sets March Launch for Its First Electric Mega MPV with Extended Range"

Li Auto has postponed the launch of its first battery electric vehicle, the Li Mega MPV, to March 1, 2024, after initially planning a December launch and late February delivery. The delay comes as the company faces competition from Xpeng's X9, which has garnered significant attention and over 30,000 pre-orders, and concerns over safety following recent fatalities involving Li Auto models. The Li Mega, priced under RMB 600,000, lacks features such as one-piece die-cast technology and rear-wheel steering, which are highlighted in Xpeng's marketing for the X9.

via CnEVPost|
##autoindustry#automotive-business