OEM News
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EV-Maker Polestar Is Making a Smartphone as a Companion to Its Cars
Electric-vehicle maker Polestar has a new product, and it isn't another car. This time, it's a smartphone. The Swedish automaker said Tuesday that it plans to release a phone in China that's designed around the "FlyMe Auto" Android-based software from partner and corporate cousin Xingji Meizu Group, a phone-maker.
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Nissan unveils four new electric-car concepts
Nissan has pulled the covers off four new concept vehicles at the 2024 Beijing motor show after ramping up its plans for new electric and hybrid vehicles in China, the largest new-car market in the world.
Nissan presented two electric vehicles and a pair of plug-in hybrids – collectively referred to by the industry in China as ‘New Energy Vehicles’ – and said it will introduce an additional electric car in China, one more than previously announced, by 2026.
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Tesla profits slump by more than a half
Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023.
It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced thousands of job cuts.
Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward.
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‘Dacia Zen’ seven-year warranty brings added peace of mind
Dacia has launched a new complimentary warranty scheme called ‘Dacia Zen’ – offering up to seven years of comprehensive cover. The warranty is added with every service, and it doesn’t only apply to new Dacia models; owners of cars up to six years old (or 75,000 miles) are also eligible.
Dacia owners that have had their car serviced and maintained outside of the official Dacia network can be included, as long as their car fits the maker’s maintenance recommendations, and all servicing has been documented.
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Honda unwraps new Ye series of EVs, including sleek GT
Honda has launched a new series of electric cars developed specifically for China at the Beijing motor show.
Another three EVs will join the new crossovers and sleek saloon later to complete the Ye Series, and all six will enter the Chinese market by 2027.
Ye models will all wear a new flattened version of the traditional Honda 'H' badge, rendered in white, and its operations will be operated by the brand's joint venture partners, Dongfeng Honda and GAC Honda.
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Volkswagen cuts price of EV and combustion engine cars to boost deliveries to China
Volkswagen reported unexpectedly strong growth in its deliveries of electric and combustion engine cars in China in the first quarter helped by price cuts, while deliveries of EVs in Europe fell sharply as demand dwindled.
Europe’s largest carmaker said China deliveries increased almost 8 per cent to 694,000 units in the first three months of the year compared with 2023, with battery-run vehicle deliveries increasing year on year by 91 per cent from a low base.
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Ford to delay rollout of new electric pickup and SUV as EV sales slow
With US electric vehicle sales starting to slow, Ford Motor Co says it will delay rolling out new electric pickup trucks and a new large electric SUV as it adds gas-electric hybrids to its model lineup.
The Dearborn, Michigan, company said on Thursday that a much ballyhooed new electric pickup to be built at a new factory in Tennessee will be delayed by a year until 2026.
The big electric SUV, with three rows of seats, will be delayed by two years until 2027 at the company’s factory in Oakville, Ontario, near Toronto.
Insurance News
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Do Safety Features In Cars Actually Reduce Car Accidents?
Do you need a car with an advanced safety system? I didn’t think I did—until I did.
I was backing up my Volvo XC90 in a grocery store parking lot in Reno, Nevada, last week when I heard a sudden alarm. The car screeched to a halt on its own. Another vehicle raced past me in the rearview camera. It turns out the Volvo has a radar-based rear collision warning system. If there’s a risk of a collision, it warns you and applies the brakes.
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Why Car Insurance Keeps Getting More Expensive
The cost of auto insurance in the US rose more than 22% in the 12 months that ended in March, the biggest annual jump since 1976. Rates are up 43.7% since January 2020, making car insurance premiums one of the bigger contributors to high inflation.
Today’s cars are packed with high-tech gadgetry meant to entertain, comfort and protect occupants. The array of safety equipment now common on cars includes automatic emergency braking, blind-spot detection and lane departure warnings.
Digital Marketing & Retail News
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Consumers remain interested in online vehicle shopping, study shows
Consumers interested in buying or selling a vehicle online with some dealership support remained steady in 2023, according to CarGurus' sixth annual U.S. Consumer Insights Report.
What's more, a majority of younger consumers want to fully purchase a vehicle online, the report found.
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Car dealers are high-end retailers: time to embrace it
It’s time for automotive dealerships to act like the high-end retailers they are. This was a common thread at NADA 2024, and, coming out of challenging pandemic years, the appetite is strong as businesses look to transition to a new retail normal. According to PWC 91% of dealers believe a strong digital presence is important to sales strategies, more than 80% do not have a dedicated digital strategy built out.
Leasing / Fleet News
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Fleet sector drives surge in electric vehicle adoption
Mark Young, Account Director at AX, explores the role of the fleet sector in driving the transition to electric vehicles.
Despite some negative headlines from a vocal minority, Britain’s millionth battery electric vehicle (BEV) was registered in January, and the speed of electrification in the fleet sector is accelerating.
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BMW expands model choice and remains fleet industry's favourite brand
As BMW continues to expand and evolve its model line-up, the brand remains committed to giving its customers choice.Across the BMW Group, the range of electric models offered is growing rapidly. But that isn’t the only option available to drivers.
In the past year alone, BMW has introduced the iX2, i5 and new derivatives of iX1 and i4. The Mini line-up has also been revamped and shortly the new Mini Hatch and Mini Countryman will arrive, both with electric powertrains.
Other News
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China's largest auto show showcases all-electric future, local brands dominate
BEIJING, April 25 (Reuters) - China's largest auto show opened in Beijing on Thursday with the biggest names showing off their latest electric vehicles (EVs), underlining how the world's largest auto market is already in an all-electric state of mind, and isn't looking back.
Automakers are set to unveil 117 new models versus 93 at last year's show in Shanghai,while overall 278 new energy vehicles (NEVs) will go on display, seven more than last year, organisers said.
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Approaching EV Turmoil Will Shake Up European Automakers
Like the proverbial Swan, looking serenely in control but working hard below the waterline to escape possible predators, the European auto industry gives off healthy vibes.
Sales are humming along nicely, at a solid but unspectacular rate likely to reach an increase of 7% in 2024, according to Auto Forecast Solutions. EV Volumes, now owned by J.D. Power, expects a more modest 3.1% increase in Europe’s car and light van sales to 15.2 million, but points out this is far short of the 18 million achieved in pre-Covid 2019.
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Are Chinese electric vehicles taking over the world?
Western car makers, already bruised by the scramble among themselves for a share of the electric vehicle (EV) market, are facing a much more fearsome foe – China and its aggressive investment into the sector.
Tesla, perhaps the best-known of the EV manufacturers in Western markets, saw first-quarter sales down by 20 percent this year, compared with the same period in 2023, and its share price has slumped by more than 25 percent since the beginning of this year.
JATO in the News
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Europe’s new car market sees surge of hybrid sales in Q1
Europe’s new car market has seen a surge in hybrid sales in Q1 while EV demand falters, according to JATO Dynamics.In Q1, 382,700 hybrids were registered which is the highest number of quarterly registrations for the category since 2021. Volumes were up 18% on Q1 2023. Consumers feel hybrid cars have an advantage over EVs as they are self-charging and, on average, 27% cheaper than an electric model.
Felipe Munoz, global analyst at JATO Dynamics, said: “Although registration figures for the first quarter of 2024 paint a reasonably positive picture, the data for March is concerning.
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1 In 5 EVs Sold In Europe Is Built In China – But That’s Not The Whole Story
How long until mainstream Western automakers are wiped out by their opposite numbers from China? Fifteen years? Ten? Looking at the latest sales European sales figures, which reveal Chinese-built cars accounted for one in five new EVs in February, it’s easy to imagine it happening, and soon – at least until you dig a little deeper.
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Insight: Why BYD's EV exports sell for twice the China price
LONDON, April 26 (Reuters) - U.S. and European politicians have raised alarms that their domestic auto industries could be destroyed by a wave of cheap Chinese electric vehicles. But so far, China's top EV maker, BYD, has dramatically hiked export prices compared to what it charges at home rather than undercut foreign rivals.
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Car sales in Europe decline: Is the future of electric vehicles at stake?
In March, car sales in the EU registered a decline with consumer behaviour trends shifting.
Not only have electric cars been affected, but car sales in the EU witnessed a 5.2% drop compared to last year in March, marking the largest decline since July 2022 and the first for this year, as reported by the European Automobile Manufacturers’ Association (ACEA).
JATO’s overview of local markets
Europe
The European Automobile Manufacturers’ Association (ACEA) recently published a report that highlights a significant gap between the current availability of public charging points for electric cars in the EU and what is likely to be required to meet CO2-reduction targets. According to the report, EU electric car sales grew three times faster than charging point installation between 2017 and 2023 and it’s estimated around eight times more charging points will be required annually by 2030 to keep pace with demand.
ACEA’s Director General, Sigrid de Vries, was quoted as saying: “We need mass-market adoption of electric cars in all EU countries to achieve Europe’s ambitious CO2-reduction targets. This will not happen without widespread availability of public charging infrastructure right across the region” and is concerned that “infrastructure rollout has not kept pace with battery-electric car sales in recent years”. A little over 150,000 public charging points were installed last year across the EU, now totalling just 630,000. The report recommends 3.5 million charging points should be installed by 2030, requiring around 400,000 public charging points to be installed per year.
Earlier in the month, Swiss authorities announced that it will adopt European CO2 emission laws, from 2025, based on average emissions target values. The market is well on the way to achieve the targets set, as market share to date for non-combustion engine vehicles stands at the 60% mark.
As announced previously, Croatian authorities have now released information on its EV incentivisation program, with a EUR 15 million budget set aside for subsidies. Additionally, the ‘Eco’ bonus for the Italian market as reported last month has been confirmed with a support package of EUR 950 million, although details of the start date have not yet been advised.
Asia Pacific
Hyundai Motor Company and Kia Corporation have recently signed a Memorandum Of Understanding (MOU) with Exide Energy Solutions Ltd. for its strategic cooperation in India's EV market. The partnership enables Hyundai Motor and Kia to equip future EVs in the market with locally-produced LFP batteries. This strategic collaboration marks the beginning of Hyundai Motor and Kia's expansion in India's battery development and production market.
Kia has also released initial details on its first-ever pickup truck, the Tasman. The diesel engine model is scheduled to be released in 2025 and is mainly targeting the Australian market. Kia plans to roll out the Tasman more broadly across three key markets including its home base in Korea, Australia and the Middle East by 2025.
EP Manufacturing (EPMB) has announced it has signed a ten-year vehicle assembly agreement with BAIC International Development, which is a subsidiary of BAIC Motor. Under the terms of the agreement, EPMB via its subsidiary, PEPS-JV Melaka (PJVM), will assemble and produce (CKD) BAIC vehicles in Malaysia. The initial models slated for production include the BJ40 Plus and X55II SUVs, both of which are scheduled to debut in 2025 and will be produced at EPMB’s upcoming automotive plant in Melaka that will have a production capacity of 30,000 units annually.
Honda Taiwan have said they will take 20% off all repair or maintenance costs for customers due to the country’s earthquake disaster earlier this year, although details of how long the offer will continue until have not been specified. It is also widely expected many other manufacturers will follow suit to support those affected.
Americas
Honda announced earlier this month that it will invest BRR 4.2 billion in the operation of automobiles in Brazil from 2024. The investment cycle will finance the production of a new model at facility within the São Paulo area. It is expected to be the new WR-V, already launched in Japan. Built on the City platform, the model will compete with Fiat’s Pulse and Renault’s Kardian.
Chinese automaker GWM is expected to qualify for the Green Mobility and Innovation (Mover) program by the end of this month. According to the company's Director of Institutional and Government Relations, Ricardo Bastos, the company is finalizing the alignment with the headquarters of the production and development project in the country. GMW will invest BRR 10 billion by 2032 and, according to Bastos, the first BRR 4 billion that will be invested in the operationalization of the Brazilian plant has already been validated with the headquarters.
Mexico's government has confirmed it will not grant incentives to Chinese automakers that decide to invest in the country. According to reports, high-ranking government officials said that incentives like those in the past will not be granted, even to companies that invest in the country.
Honda will build an integrated EV battery supply chain in Canada from the ground up with a series of investments in Ontario worth a combined CAD 15 billion. The automaker at an event on April 25 confirmed the long-rumoured plans that it will greatly expand its Canadian footprint at its manufacturing campus in Alliston, Ontario.
About us
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.com for more information.
Contact
Donny Gow | Research Manager
donny.gow@jato.com
Alice Song | Content and Communication Manager
alice.song@jato.com