Nissan Unveils Special Tweaked Version Of Its Latest Electric SUV
The nickname of ‘Godzilla’ was first coined by the automotive media in 1989 to describe the power and technological wizardry of Nissan’s Skyline GT-R (R32). Now, some 35 years on, the latest generation of that car—the Nissan GT-R (R35)—has been modified and transformed by the carmaker’s in-house customizing arm Nismo to become an even more extreme version of ‘Godzilla’ packing 600 hp and outrageous aeroparts.
Toyota group plant raided in test cheating probe as automaker says it sold 11.2M vehicles in 2023
Japanese transport officials raided the plant of a Toyota group company on Tuesday to investigate cheating on engine testing, as the company reported it kept its status as the world’s top automaker in 2023, selling 11.2 million vehicles.
Tesla warns of 'notably lower' sales growth in 2024
Tesla is forecasting a sharp sales slowdown this year, becoming the latest car company to warn of sagging demand. Elon Musk's electric vehicle (EV) maker said growth would be "notably lower" than in 2023, when deliveries rose 38%.
The company's shares fell by almost 6% in extended trade in New York after the announcement. Mr Musk also warned that Chinese rivals "will pretty much demolish most other car companies in the world" unless trade barriers are put in place.
VW and GM lose ground to Chinese EV makers as petrol-heavy line-ups fall out of favour in world’s largest car market
Volkswagen (VW) and General Motors (GM), once the dominant players in China’s car sector, are now struggling to keep up with mainland-based electric vehicle (EV) makers as their petrol-powered line-ups lose ground in the world’s largest market.
BYD outpaces Tesla for first time as it becomes world’s top EV firm for last quarter of 2023
Chinese EV maker BYD sold more cars than Tesla did during the last quarter of 2023, it has been revealed. It said it shifted 526,000 battery-only vehicles versus Tesla’s record figure of 484,500 to make it the world’s biggest seller of electric cars. The last three months of the year were the first quarter in which BYD has outpaced Elon Musk’s car company.
Electric car maker Polestar to cut around 450 jobs globally
Electric car maker Polestar Automotive Holding (A4N1y.F), opens new tab, plans to cut around 450 jobs globally, or about 15% of its workforce, amid "challenging market conditions", the Swedish company said on Friday.
Electric car maker Polestar to cut around 450 jobs globally Over the past year, many automakers have warned that the anticipated growth in electric vehicles (EVs) has been slow to emerge due to poor demand, heavy price cuts, lower subsidies, and supply chain issues.
Truck maker Volvo braces for 2024 by adjusting production amid weak order intake
STOCKHOLM (Reuters) -Swedish truck maker AB Volvo on Friday reported a bigger-than-expected rise in fourth-quarter profit but a weak order intake as it adjusted lower production levels amid softening demand. The sector and investors alike brace for a tougher 2024 for the trucking market with analysts flagging a downturn in demand in Europe, with transport volumes coming down from historically high levels.
Consumers want more advanced, autonomous safety features, survey says
The National Highway Traffic Safety Administration (NHTSA) has made it clear that it wants more safety technology in vehicles and a new survey shows consumers do as well.
The Autonomous Vehicles: Consumer Trends and Attitudes Survey found that advanced driver-assistance systems (ADAS) are consumers’ top priority when choosing their next car.
Ghost Autonomy, an autonomous driving software company, surveyed 1,200 participants across diverse age groups, income levels and geographical regions for the survey.
Global Voices: ‘We aspire to be among the top three players in ADAS systems in India by 2030’ says Jeremy McClain of Continental
As Indian cars become more software-defined, Advanced Driver Assistance Systems (ADAS) have started gaining traction as an essential safety feature. Jeremy McClain, System and Software Business Leader, Autonomous Mobility at tech giant Continental, discussed in an interview with Autocar Professional the capabilities of Continental's portfolio of sensors and features and their roadmap to support Level 2 and Level 2+ features in passenger cars and autonomous mobility services.
Stellantis launches Spoticar Direct online used car sales channel
Spoticar, the used vehicle network for Stellantis brands Vauxhall, Peugeot, Citroën, Fiat, Jeep and Abarth, is now offering vehicles on its Spoticar.co.uk website that come directly from the Stellantis reconditioning centre in Corby.
Spoticar Direct will give customers direct access to a wider range of vehicles than would otherwise be available in their geographical area.
6 key automotive retailing trends to watch closely in 2024
As the automotive industry continues to evolve, the year 2024 promises to be a pivotal one marked by dynamic shifts in automotive retailing. From advancements in technology to changing consumer preferences, the landscape of automotive retail is poised for further transformation. In this ever-evolving environment, staying aware of the latest trends is crucial for automotive retailing professionals seeking to navigate the challenges and seize new opportunities. Here are six key automotive retailing trends that are set to shape the industry throughout 2024.
Average age of fleet cars and vans still rising, finds Epyx
For the whole of last year, the average age of a fleet car at the point of servicing, maintenance or repair (SMR) was 3.00 years, according to new Epyx data. That’s up from 2.86 years in 2022, 2.74 in 2021, 2.55 in 2020 and 2.40 in 2019. For vans, the corresponding figures were 3.58 years old in 2023, 3.39 in 2022, 3.25 in 2021, 3.16 in 2020 and 3.03 in 2019.
Generation Z could propel the rise of car subscriptions
The global automotive industry faces two challenges as it seeks to consolidate future vehicle sales: restrictions on consumer spending caused by the cost-of-living crisis, and the rise of mobility-as-a-service platforms. One potential solution is subscription services—typically a monthly payment that covers not only a car but associated costs such as insurance and repairs for a pre-agreed period of time. Global Market Insights projects that the total car subscription market will grow from US$5bn in 2022 to more than US$100bn in 2032—a CAGR of 35%.
EV incentives in 2024: Europe’s minor fleet markets
The future is electric, but only if we make it so. That’s why governments across Europe offer tax benefits and purchase initiatives to incentivize the adoption of BEVs. Measures vary per country, but this overview of eight minor European fleet markets also shows some common trends: an emphasis of exempting EVs from existing taxes, with a smaller focus on offering incentives for acquiring the vehicles themselves, or the charging infrastructure they require.
How Tech Giants Could Displace Automotive OEMs
The automotive market is a huge industry, and its evolution has spawned several giant corporations with many sub-brands, many of which are household names. However, the automotive industry is arguably undergoing the greatest technological shifts it has ever seen. Electrification, autonomous driving, and a shift to software-defined vehicles.
China is ‘certain’ to have overtaken Japan as the world’s top auto exporter in 2023, industry group says
Hong Kong CNN — China is sure to have surpassed Japan to become the world’s number one car exporter last year, driven by strong demand in Russia and growing global appetite for electric vehicles (EV), a major industry group has forecast. The China Passenger Car Association (CPCA) said Tuesday the country is likely to have exported a record 5.26 million vehicles — including passenger cars, buses and trucks — last year, up 56% from 2022, with a total value of $102 billion.
Europe Needs Mass Market EVs To Avoid Existential Threat
If European manufacturers don’t produce mass-market electric vehicles soon they will fail to meet tough quotas for EV sales or leave the field open to cheap and cheerful little Chinese battery-powered vehicles.
Experts say there is little likelihood of any European equivalents of the BYD Seagull or Wuling Bingo city cars appearing anytime soon. The only hope for the European Union and U.K.
‘Seismic shift’: driving unaffordable for many in US amid push toward SUVs
At the start of the pandemic, Ceola Luna, a 45-year-old Lyft driver in Los Angeles, bought a 2005 Saturn Vue crossover, after her new Dodge Caravan (a minivan) was wrecked in a crash. The Vue wasn’t nearly as nice, but it was affordable at $4,000 – including rust, engine issues, and a dashboard full of warning lights.
JATO Dynamics: Tesla Model Y to be crowned world’s best-selling vehicle of 2023
Tesla is on course to take the crown for the world’s best-selling vehicle in 2023, with the Model Y securing the top spot across the majority of global markets. Despite only being founded in 2003, the electric vehicle (EV) manufacturer has sparked a seismic shift in the automotive landscape, creating an electric model that has outperformed its counterparts and broken records to become the first EV to lead the global market.
Loans for purchasing cars a rising trend in India, finds Jato Dynamics
More and more Indians are purchasing cars on loans now vis à vis the pre-Covid-19 period, with finance penetration for passenger vehicles (PVs) increasing from 72-75 per cent in 2019 to 77-80 per cent in 2023, according to Jato Dynamics's data, which has been reviewed by Business Standard.
Europe
As 2024 swings into action, several markets in the European region begin their annual taxation and vehicle price changes.
Switzerland has seen a VAT increase from last year’s 7.7% grow to an 8.1% charge, effective from the beginning of January. Overall, 2023 sales for the market also saw gains, a near 12% uplift on 2022 numbers.
Austria’s NoVa tax changes see a new minimum emissions threshold for these charges to commence, down from 102 g/km to 79 g/km.
Both Portuguese and Spanish markets have introduced new taxes, including an updated road tax for all vehicles in the former market, with the exception of BEVs. Norway’s first registration fee has also increased.
According to Mobility Sweden, new registrations of passenger cars in 2023 barely moved from 2022’s total at around a 0.5% increase. Additionally, the proportion of rechargeable passenger cars increased by only 4%. Forecasts for this year appear to be on the pessimistic side, with a sharp reduction in new registrations of passenger cars and the electrification rate expected to decrease. However, there is a small trend showing that prices on private leasing are reducing, which may in turn offer hope in light of forecast predictions.
Like Tesla’s decision in 2023 to slash pricing in a bid to boost sales, Chinese firm BYD has kicked off 2024 in the German market by substantially reducing retail pricing for the large majority of its ranges, by up to 15%. This comes as BEV pricing is under great pressure following the Government’s removal of the EV subsidy last year, however typically discounts are now being found in incentives form. As an example, Volkswagen is now offering a EUR 7,000 discount on ID.3 models and with manufacturers following suit, Renault’s Megane e-Tech seeing price reductions albeit with the removal of standard equipment to mitigate the revenue loss.
The Italian market for 2023 closed with 1,566,448 new registrations, up 19% over 2022, but still down on 2019 levels by almost 19%. Interestingly, despite fewer new registrations year-on-year since the pandemic, the number of vehicles on the roads in Italy totalled 40,839,063 in 2023, whereas 2019 vehicles totalled 39,545,232. This suggests more people turned to the second-hand market than purchasing new.
Asia Pacific
Back in 2021, Malaysia revealed its plan to have 10,000 EV public charging stations in place across the country over the next four years. The plans said this would consist of 9,000 AC and 1,000 DC fast chargers, as outlined under the Low Carbon Mobility Blueprint (LCMB) 2021-2030. However, with a year to go before the target date, the number of public charging points in operation currently stands at a little over 2,000. While the latest numbers say 1,430 chargers were running as of November 2023, with nearly 600 new charge points coming about in the past two months, the original target is looking out of reach. The ministry of investment, trade and industry (MITI) says it will review the target.
BYD has begun building its first sodium-ion battery plant in China, investing USD 1.4 billion with a 30-Gigawatt hour planned annual capacity. FinDreams and Huaihai agreed to build the first BYD sodium-ion battery plant in Xuzhou in November.
Chinese automotive manufacturer JAC Motors officially delivered its first mass-produced EV with sodium-ion battery to users at the beginning of this month. The new model is under a new EV brand backed by Volkswagen and JAC Group, named YiWei 3. The new battery pack will provide over 130Wh/kg energy density.
The Government of Thailand has reintroduced its EV subsidy, now under the reboot name of 3.5. This subsidy reduces excise tax and now offers a cash subsidy and will run until 2027. Volvo also announced they will set up a battery recycling plant in the market.
Americas
Stellantis has announced plans to launch up to eight new electric vehicles on a flexible new platform over the next couple of years, beginning in North America later in 2024 with Dodge and Jeep. The ‘STLA’ Large platform will underpin a selection of models from Alfa Romeo, Chrysler and Maserati.
According to reports, the platform can accommodate a number of different ground clearances for off-road and highway usage, with a range of rear-wheel, front-wheel and four-wheel-drive offerings, in sedan, SUV and Crossover forms. Ranges are expected to be anything up to 500 miles.
The platforms will be available in 400-volt and 800-volt architectures, Stellantis said in a statement. It will also have hybrid and internal combustion options.
Sony Honda Mobility recently showcased its new Afeela EV prototype at CES 2024 earlier this month, with features that bridge the gap between driving and gaming. The concept demonstrated a fusion of Sony’s gaming expertise and Honda’s mobility innovation.