Ford announces key EV minerals deals ahead of crucial capital markets day
Ford Motor announced a series of new deals for the supply of lithium products in support of its plan to dramatically ramp up production of electric vehicles. The automaker has said it plans to be producing EVs at a rate of 2 million per year by 2026. The company is set to outline its path to reach that goal during its capital markets day Monday.Read more
Jeep maker Stellantis demands billions to keep battery plant in Canada
Jeep maker Stellantis has threatened to shift a planned battery plant from Canada to the US unless it receives billions more in state subsidies offered to a rival, in the latest manoeuvre by a big manufacturer in the international battle over green incentives.Read more
Vauxhall-maker warns Brexit may force it to close UK factory
One of the world's biggest carmakers has warned it may have to close UK factories if the government does not renegotiate the Brexit deal. Stellantis, which owns Vauxhall, Peugeot, Citroen and Fiat, had committed to making electric cars in the UK, but says that is under threat.Read more
Why Jaguar Land Rover faces a manufacturing dilemma in China
Two figures stood out starkly from JLR's most recent results presentation: the average price of vehicles it exported to China last year (£101,000) versus the average price of cars made there with its joint-venture partner (£36,000). Companies often build cheaper models locally to remove some of the costs associated with importing.Read more
Geely doubles its stake in Aston Martin to 17% – what it means
Geely has doubled its stake in Aston Martin to 17%, representing a sizeable jump in its investment in the ultra-luxury British performance brand. It represents an important shift in Geely’s portfolio, which already owns a number of British and European car makers, including Lotus, LEVC, Volvo and Polestar. The deal will boost Aston’s reach in China and open up new tech-sharing opportunities.Read more
Lynk & CO looks to further European growth
Lynk & CO plans to enter Norway, Austria, Switzerland and the U.K., and expand in markets including France. Lynk & CO, an automaker jointly owned by China's Geely and Volvo, plans to open its first showroom in France by early 2024 and to expand in Europe, including Britain, its CEO and founder told Reuters.Read more
Tesla’s switch to BYD batteries is achieving faster charging times
Tesla has started using BYD blade batteries for the Model Y electric crossovers produced at the Berlin gigafactory, resulting in a significant increase in charging speeds. Until recently, another Chinese battery maker CATL was the sole supplier of batteries for the Model Y in Europe, but in early May it was reported that Tesla had started using BYD as a second supplier. Read more
Report: EV repairable claims are on the rise
Electric vehicle (EV) repairable claims frequency within the U.S. increased to 1.13% within Q1 2023, according to a new Mitchell report. It increased 2.41% during the same time period in Canada, the EV Collision Insights report said. Ryan Mandell, director of claims performance at Mitchell, noted that the increase to vehicle repairability comes as EV sales gain traction due to higher gas prices, government incentives and more vehicles going into production.Read more
How risk managers can tackle the evolving automotive risks in their organisations
Kiran Boosam, global insurance industry leader, Capgemini, explores how mobility risk is changing and the tactics that risk managers can deploy to manage emerging threats. According to Capgemini’s World Property and Casualty Insurance Report 2023, more than 40% of the $3.8tn Auto industry will be autonomous, connected, and electric by 2030 up from 10% in 2020.Read more
Digital Marketing & Retail News
Americans Having Trouble Buying EVs Because Two-Thirds Of Dealers Don’t Have Any
About a third of U.S. car dealerships want to sell electric vehicles but simply can't get them, despite growing consumer demand. Supply chain issues, growing demand, and wider inventory troubles have led to a situation in which dealers simply cannot stock enough electric vehicles. This is becoming one of the largest barriers for EVs to gain a larger chunk of the market, at least for American consumers.Read more
Shortage of used car stock is ‘biggest challenge’ for dealers
Used car supply shortages continues to be the biggest challenge facing dealers in 2023. May’s Startline Used Car Tracker shows that 84% of dealers believe it is their number one concern. This is the highest level since the monthly survey first began 13 months ago, with the previous high of 77% being recorded in July 2022. Additionally, 54% say that the general condition of stock is worsening and 41% that the cars they are retailing are getting older, while 39% are looking for new sources of stock.Read more
Leasing / Fleet News
Audi goes 'back to basics' to engage with fleets
Audi has “pressed the reset button” and is going “back to basics” as it looks to grow its true fleet registrations, according to recently appointed head of direct sales Warren Richards.Read more
Why Chinese EVs may appeal to Europe's fleet managers
China-built electric cars have some advantages that could catch the eye of fleet managers, who account for a large percentage of sales, a fleet executive says. A recent string of announcements from a number of Chinese electric vehicle (EV) manufacturers that they plan to start selling cars in Europe by the end of this year marks the latest stage in Chinese EV brands’ attempts to break into the region’s auto market.Read more
China Overtakes Japan As The World’s Biggest Exporter Of Passenger Cars
According to reports, China is now the world’s biggest exporter of cars. Credit tariffs, the war in Ukraine, and the changing automotive landscape that have positively affected the country’s car production. Chinese officials have released figures showing the country exported 1.07 million cars during the first three months of 2023, an increase of 58 percent compared to last year.Read more
Used electric cars look tempting after big depreciation hit
Prices for used petrol, diesel and hybrid cars remain high in the post-pandemic secondhand market, but electric models are depreciating much faster than their petrol or hybrid equivalents. According to analysis from Autovista, the company which owns Glass’s Guide and tracks car residual values, the average retained value in April for a used electric car after 3 years and 36,000 miles is 47.6 per cent of its new cost.Read more
Every Plug-in Hybrid EV on sale in Australia in 2023: May update
All the PHEVs on sale in Australia, and every PHEV still on the horizon Between conventional hybrids and full-electric vehicles, there exists a handy third option: the Plug-in Hybrid Electric Vehicle, often referred to as a PHEV. Hybrids are familiar, and often affordable, thanks to Toyota's pioneering Prius range and now a full line-up of available hybrids. Electric vehicles, on the other hand, represent something of an expensive unknown to a lot of buyers in this relatively early stage of the segment's growth.Read more
JATO in the News
Finance options for EVs could aid mass adoption, says Jato
Jato Dynamics has reported that 8 in 10 (80%) of buyers say the option to pay monthly would make it more likely for them to choose an EV. According to the report, 1 in 5 (21%) are set to buy an EV next year, while a further 27% are thinking about buying an EV. With good battery range (51%) cited as the top reason that would encourage respondents to buy an EV, followed by convenient recharging (45%), monthly finance options will allow consumers to try before they buy – with the potential to ease widespread concern over range, and charging availability.Read more
Recent data reveals global new vehicle market falls by 2% as declines occur in North America, China and Europe
New data by JATO Dynamics reveals an overall drop in vehicle registrations worldwide whilst nations such as India and South Africa have increased registrations. Recent data released by JATO Dynamics reveals that there was a two per cent drop in the global new vehicle market last year.Read more
JATO’s overview of local markets
by Donny Gow | Research Manager
The European region continues to see price rises on an almost weekly basis, whilst manufacturers continue to refine and tweak their ranges as parts supply and component costs remain high. Brands in Germany, Italy, Great Britain and France are all boosting pricing as a consequence.
Despite a globally-effective price drop for the marque, which signalled some price movement for other EV-centric brands, Tesla has recently reversed the trend and increased vehicle retail pricing across several countries.
Sales continue to flourish. Swiss numbers reflect an upturn in consumer confidence with sales 16% above April 2022 figures, signifying that manufacturers are now getting a better grip of supply chain and new order issues. The same market is also seeing a burgeoning electrified sector, share for alternatively-fuelled vehicles now accounting for more than 54% of sales. However, despite these increases the Swiss vehicle market is still around two thirds lower than 2019 numbers, a trend seen across most of the region.
Austria will see an updated NoVa taxation policy introduced by the end of year, although nothing has been confirm as yet on how this is likely to affect sectors like EV.
There is a strong suggestion that the ‘green’ bonus for electrified drive in the French market will be reviewed later this year. However, announced earlier this month, the current EUR 7,000 bonus for purchasing an electric vehicle will now only be relevant for those Makes producing vehicles within the European region, as well as regional battery production.
Nordic sales continue to be bolstered by a positive trend towards electric models, the pioneering market of Norway being no exception and continuing to encourage new sector models to be introduced like Ford’s F-150 Lightning EV pick-up. All being said, due to new taxation rules announced at the start of 2023, sales in Norway reduced on April 2022 figures, by around 8%, but expected to remain fairly strong throughout the year.
Finland will see the introduction of the BYD brand from June, with the hope that a new government - currently in the process of forming - will discuss the reintroduction of EV subsidies (dropped at end of 2022).
Sweden has seen private leasing fees for EVs drop to what consumers consider more reasonable and affordable numbers and Denmark, in particular, is now seeing lease deals with no down-payment options, not previously available.
This month saw the reintroduction of Malaysia’s Autoshow 2023, and some significant new models introduced to the market. Additionally, Chery officiated its partnership with Inokom for CKD local assembly at the latter’s 200-acre facility in Kulim and the first two models will roll out of the Kedah plant later this year. The Chinese brand also announced that Malaysia will be the carmaker’s main production hub in ASEAN, despite the fact it already has local assembly facilities in Indonesia.
Products from Kulim will be exported to countries such as Thailand, Singapore, Brunei, Vietnam and as far as Australia.
From July 1, the Australian government will introduce its 23-24FY Luxury Car Tax thresholds, in line with inflation. April sales indicated the market’s slowest month of the year, although 1.3% up on 2022 statistics. Toyota remains the number one brand in the market, despite sales being 33% down on last year due mainly to crippling supply issues (anywhere between one and three year waiting lists for some models, especially hybrids).
Chinese battery company, CATL, has unveiled all-new condensed matter battery technology with an energy density of up to 500 Wh/kg. The company said it can achieve mass production within the year. The technology has initially been designed to be utilized in the aerospace industry, but with an automotive cell under development. To put the output into context, last year the company unveiled its ‘Qilin’ battery with an energy density of 255 Wh/kg, capable of delivering a range of up to 1,000 km and ten-minute charging capacity from 10%-80%.
Tesla has announced plans to export its Shanghai-built Model Y to the Canadian market. The base model, 245-mile RWD variant has already commenced production and will deliver to North America from this summer.
Uncertainty continues to surround the Brazilian Government’s potential decision to announce tax barriers for imported EVs, in order to protect its national industry. This follows suggestions that tax incentives for the local industry to invest in hybrid+flex fuel technology may be offered.
Chinese EVs continue to penetrate the Latin American marketplace (predominantly Mexico and Chile with imported units, and Brazil with large investment into local production such as Great Wall from 2024). BYD, along with other established Chinese marques such as Skywell, Haval and Jetour, have announced their intentions to enter these markets in the near future.
Canadian new vehicle dealer inventory has been, and continues to be, affected by semiconductor supply issues, despite evidence to suggest stock in other markets globally is beginning to return to normal levels. Figures quoted of 42% of normal stock levels in Q1 2023 compares favourably to the 19% figures of the same period in 2022, but dealers fear there is still a significant way to go before the national industry returns to usual, pre-pandemic, numbers.
JATO Dynamics, founded in 1984, now has representation in over 51 countries around the world. We provide precision under pressure, providing the world’s most timely, accurate and up-to-date automotive information on vehicle specifications, pricing, sales and registrations for over 30 years. We offer more than just data, as we have watched the world change, and consumer mindsets alter with it we have been able to offer insights that help inform the industry. We are able to react to short-term market movements, plan for long-term developments and ultimately to meet the needs of our clients. Visit JATO at www.JATO.com for more information.
Donny Gow | Research Manager
Alice Song | Content and Communications Manager
Donny Gow | Research Manager
Alice Song | Content and Communications Manager