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☆ A Rivian R1T blew through steel guardrails, reflecting safety experts' warnings about heavy vehicles and even heavier EVs
▼ + stars: | 2024-02-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +6 min

The crash test highlights safety experts' concerns about faster and heavier EVs. AdvertisementA new video of a Rivian truck bursting through steel guardrails during a crash test highlights some of the safety concerns experts have raised about heavy electric vehicles. Bigger the car, deadlier the crashSafety experts have previously raised concerns about the risks heavy vehicles and heavier EVs could bring to the roads. In the UK, safety experts say the heavier weight could cause older parking garages across the country to collapse. "There is some urgency to address this issue," Cody Stolle, Midwest Roadside Safety Facility's assistant director, told the publication.

Persons: —, Rivian, Ann Carlson, Charles Krupa, Kevin Heaslip, Politifact, Steve Patton, Alexa St, John, Zhe Ji, Myles Russell, they're, Cody Stolle, Ford Organizations: Service, University of Nebraska, Safety Facility, Nebraska Today, Midwest, Safety, National, Traffic Safety Administration, Reuters, Insurance Institute for Highway Safety, Center for Transportation Research, University of Tennessee, P Global Mobility, EV, Alexa, Ferrari, GMC, Ford, Madison Hall, McLaren, Anadolu, Getty, Research, Tesla Locations: Manchester , New Hampshire, Canadian, North America

It is the second letter that auto dealers have sent to the White House in two months on the EPA’s upcoming ruling, which could codify the agency's strictest-ever tailpipe emissions limits, proposed last April. The dealerships said Thursday that the Biden administration did not respond to their first letter sent on Nov. 28. Political Cartoons View All 253 ImagesThe EPA says its proposed regulations would require up to two out of every three vehicles sold in the U.S. to be electric by 2032. Most automakers around the globe have pledged hundreds of billions of dollars to transition to all-electric new vehicle sales in the coming decade as momentum to address climate change builds. Automakers can meet EPA regulations not just through pure-electric vehicle sales, but also through a sales mix including hybrid and plug-in hybrid electric vehicles.

Persons: Joe Biden, Biden, “, Alexa St, John Organizations: DETROIT, White House, EPA, ”, Republicans, Traffic, Administration, Associated Press Locations: United, U.S, Press, ast.john@ap.org, AP.org

Over the years these cars have gotten bigger and so has their cost to the climate, as carbon dioxide emissions “are almost directly proportional to fuel use” for gas-powered cars. Since then, he has owned several pure-electric cars, and currently owns both a Genesis GV60 electric SUV and a Tesla Model 3. Meanwhile, smaller vehicles, or sedans, have lost a lot of ground in the U.S. market over the past decade. But even the most efficient SUVs will be less efficient than sedans because SUVs weigh so much more. See more about AP’s climate initiative here.

Persons: it's, George Parrott, ”, Parrott, Eric Frehsée, Loren McDonald, ” McDonald, John Organizations: Global, Initiative, International Energy Agency, Transportation, Toyota, Tesla, EV, U.S, Tamaroff, Chevrolet Tahoe, Toyota Sequoia, Nissan, Honda, U.S . Department of Transportation, Environmental Protection Agency, National, Traffic Safety Administration, AP Locations: West Sacramento , California, Sacramento, U.S, Edmunds, Michigan, Press

Electric vehicle sales are expected to hit a record 9% of all passenger vehicles in the U.S. this year, according to Atlas Public Policy. That will be up from 7.3% of new car sales in 2022. These figures include both battery electric vehicles and plug-in hybrid EVs. But even as U.S. EV market share grows steadily, hurdles still stand in the way for some car buyers considering electric. Several U.S. states have set target dates by which they expect vehicle sales to be majority zero-emissions.

Persons: EVs, Tesla, Kelley, Alexa St, John Organizations: Atlas Public, EV, American, Ford Motor Co, General Motors, AP Locations: U.S, China, Germany, Norway, California, Washington, New Jersey, Press, ___

☆ Charging, road trips, maintenance, and more: 8 EV owners reveal the realities of going electric
▼ + stars: | 2023-11-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

Rick Samuels, 71 — Portland, OR — Tesla Model 3Rick Samuels, retired from the IT industry, drives a Tesla and a Nissan Leaf. I was commuting 30 miles a day, which was an ideal range for a first-generation Leaf. Last fall, we took our first real road trip, and that's when we found out how abysmally bad public charging infrastructure is. We have taken several trips in the Tesla and never had a problem charging. I tell people that if it's going to be your main car for trips, the only electric car I would get right now is a Tesla.

Persons: Rick Samuels, We've Organizations: Nissan, Tesla Locations: Portland

☆ I'm a car dealer who only sells electric cars. This is what everyone else is getting wrong — and the advice I give prospective EV buyers.
▼ + stars: | 2023-10-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +8 min

Alex Lawrence is the CEO and cofounder of an all-electric used car dealership in Utah. AdvertisementAdvertisementAlex Lawrence is a 49-year-old entrepreneur and the CEO of EVAuto, an all-electric used car dealership in Bountiful, Utah, which he co-founded in 2019. EVAuto sells a variety of electric cars, from Tesla to Porsche to Rivian. We wanted to be the largest seller of used electric vehicles in America. Now that they're going to be on the Supercharger network, that helps solve the charging problem.

Persons: Alex Lawrence, Alexa St, John, —, EVAuto, Price, I'm, I've, they've, they're, Lorenzo Di Cola, It's, you'll, We've, Tesla, it's, Tim Levin Organizations: Service, Porsche, Ford, Chevrolet, GMC, Plaid Locations: Utah, Bountiful , Utah, America, Italy

☆ Americans are so anxious about going electric that they're willing to pay up for hybrids
▼ + stars: | 2023-10-28 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhile car companies try desperately to gin up demand for their latest electric models, consumers are begging for a compromise: hybrids. In the auto industry, the same logic applies to hybrids, which can provide a more convenient bridge to full EV adoption. Hybrid revolutionThis need for hybrids isn't new. Ford said this week it would postpone $12 billion in new EV investment as the company assesses demand going forward.

Persons: isn't, —, –, they're, Chris Harto, Harto, Akio Toyoda, Cameron Johnson, Ford, Martin French Organizations: Industry, Service, Consumer, EVs, Auto, Consumer Reports, Toyota, Dealers, Magic City Auto Group, Honda Locations: Edmunds, Virginia

☆ Auto execs are coming clean: EVs aren't working
▼ + stars: | 2023-10-26 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Dealers have been warning of slowing EV demand for months. While GM's about-face was somewhat of a surprise to investors, the Detroit car company is not alone in this new view of the EV future. Just a few months after dealers have started coming forward to warn of slowing EV demand, manufacturers appear to be catching up to that reality. In July, the company extended its self-imposed deadline to hit annual electric vehicle production of 600,000 by a year, and abandoned a 2026 target to build 2 million EVs . In scrapping plans with GM to co-develop sub-$30,000 EVs, Honda CEO Toshihiro Mibe said the shifting EV environment was difficult to gauge.

Persons: Mercedes, —, Mary Barra, Bolt, GM doesn't, Tesla's Elon Musk, Harald Wilhelm, Mercedes isn't, Ford, Toshihiro Mibe, Mibe Organizations: EV, Dealers, Service, GM, Barra, Benz, Honda, Bloomberg Locations: Detroit

☆ EV buyers are more fickle than ever and it's a warning sign for the industry, car dealers say
▼ + stars: | 2023-10-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Electric car shoppers are increasingly fickle, dealers told Insider. AdvertisementAdvertisementCar dealers have a warning for their manufacturers: the days of early-adopter electric vehicle sales are all but over. For years, early EV adopters were generally an easy sale, three car dealers told Insider. Now, electric car shoppers are more fickle. Dealers like Sheehy say that pace is likely to slow as more sure-fire EV sales are harder to find.

Persons: —, That's, Vince Sheehy, Sheehy, they're, Kelley, Cameron Johnson, Johnson, Alexa St, John Organizations: Service, EV, Dealers, Magic City Auto Group, Ford Locations: Washington, D.C, Virginia

☆ Electric car prices are plummeting but these 4 models are still selling for above sticker price
▼ + stars: | 2023-10-24 | by ( Alexa St. John | ) www.businessinsider.com time to read: +1 min

Electric car prices have been on the decline as inventory builds and demand eases. Several EVs are selling for thousands below their sticker price. At least 20 EVs are going for below sticker price just from money being taken off at the dealership, according to Edmunds data. Buyers can get some electric cars for as much as 12% off the MSRP (manufacturer's suggested retail price). But while the prices of most EVs are coming down, there are a few that have stayed resilient, Edmunds data suggests.

Persons: —, we're, Kelley Organizations: Service Locations: Edmunds

☆ Only 2 major car companies haven't joined Tesla's charging tech yet
▼ + stars: | 2023-10-23 | by ( Alexa St. John | Graham Rapier | ) www.businessinsider.com time to read: +4 min

A flood of automakers have announced their EVs will adopt Tesla's charging tech. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementIt started with a drop, and then a flood of automakers announcing their vehicles would soon support Tesla's charging technology, a major win for consumers and a massive vote of confidence for the plug. But even as the companies behind a vast number of new electric vehicles announce support for the North American Charging Standard, or NACS, two major holdouts remain: Volkswagen and Stellantis. Though ChargePoint dominates in US charging overall in terms of quantity of plugs, Tesla leads in terms of number of fast-charging ports, according to consultancy EVAdoption.

Persons: —, Stellantis, haven't, Tesla, Elon Musk Organizations: Volkswagen, Service, American, P Global Mobility, VW, Stellantis, Group, Tesla, North, EV Locations: America

☆ These 20 electric cars are selling below sticker price — and rising incentives could help you get an even better deal
▼ + stars: | 2023-10-21 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

More and more deals are starting to hit electric cars these days. Here's 20 EVs discounted heavily from sticker price, according to Edmunds. As the auto industry scrambles to recover from overestimating EV demand this year, more electric cars are on dealer lots. That can be significant given electric cars, on average, went for $50,683 last month, per Kelley Blue Book data. AdvertisementAdvertisementHere's a look at 20 EVs selling below sticker price, and for how much (not including additional manufacturer incentives, which reached their highest levels recently).

Persons: Edmunds, —, Kelley, Cadillac Lyriq, Chevrolet Bolt Organizations: Service, EV, GMC, Cadillac, Chevrolet Locations: Edmunds, stoke

☆ The auto industry overestimated EV demand this year. Now companies are scrambling.
▼ + stars: | 2023-10-20 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +7 min

The EV segment has enjoyed a long period of exponential growth. AdvertisementAdvertisementCar companies talk a big game about the transition to electric cars. He currently has enough electric cars to last for 100 days across all brands. Though the EV share of some automakers' businesses is small, the EV segment has been enjoying a long period of exponential growth. And without more affordable options, dealers told Insider they are running out of customers to pitch their electric cars to.

Persons: carmakers, EVs, —, Ford, General Motors, it's, It's, Vince Sheehy, " Sheehy, Cameron Johnson, Sheehy, Tesla, Eric Freshee, Stewart Stropp, Power, Stropp, Martin French Organizations: Service, General, Ford, Hyundai, Volkswagen, GMC, Magic City Auto Group, ICE, EV, Tamaroff Locations: Volta, Washington, D.C, Virginia, headwinds, Midwest, EVs

☆ Tesla earnings call was a 'mini disaster,' Wall Street analyst says
▼ + stars: | 2023-10-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

One Wall Street analyst referred to the accompanying earnings call as a "mini disaster." AdvertisementAdvertisementTesla's third-quarter earnings call was a "mini disaster," as one Wall Street analyst put it. "We dug our own grave with Cybertruck," Musk said. AdvertisementAdvertisementGiven all of that uncertainty, some analysts anticipated Musk also would end the frequent and substantial vehicle price cuts Tesla's had throughout this year. The ambiguity about pricing concerned Wall Street analysts like Ives.

Persons: Tesla, —, Elon Musk, Dan Ives, Musk, Vaibhav Taneja, Tesla's, Ives Organizations: Service, EV, Wedbush Securities

☆ It could take a decade for other automakers to catch Tesla — and none are 'leading contenders' just yet, experts say
▼ + stars: | 2023-10-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . EV sales are growing — they hit a record 300,000 sales in the US by Q3 — but it's happening at a less rapid pace than many in the industry were anticipating. Pricing, lacking infrastructure, and macroeconomic factors will continue to influence buyers' uptake of EVs other than Teslas, the Cloud Theory report said. As such, Cloud Theory experts say: "No company — not even Tesla — is guaranteed a seat at the head table."

Persons: Tesla, —, Theory, Elon, Rick Wainschel, It's Organizations: Service, Cox Automotive, Ford, Chevrolet, EV, Manhattan Locations: China

☆ Electric cars are seeing their highest discounts yet
▼ + stars: | 2023-10-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Many car shoppers say the price of electric cars is a barrier to buying one. AdvertisementAdvertisementElectric cars are seeing some of their best discounts yet. For context, overall new car incentives were as high as 10.2% in September 2019, pre-pandemic. In fact, second to high-end luxury cars, EVs saw the most deals of all vehicle segments last month. So far, only high-end EVs are running the same as equivalent internal combustion engine cars; mainstream EVs aren't quite there yet.

Persons: EVs, —, Kelley, that's, It's, it's Organizations: Service, EV

☆ There's a Catch If You Wait to Buy Your EV Until 2024
▼ + stars: | 2023-10-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The rules for how electric car buyers receive federal tax credits have changed. But there are caveats that EV shoppers should be aware of, experts say. Throughout 2023, car shoppers have been able to take advantage of revised EV tax credits incentivizing them to buy plug-in. But instead of receiving a rebate, they'd lose whatever amount of the used EV tax credit they were owed, if they owed fewer taxes than that. But shoppers should also beware that dealers could drive used EV prices up next year, given that the discount rules might incentivize shoppers to buy.

Persons: —, you'd, Liz Najman, Akshay Honnatti Organizations: Service, EV you've, Dealers, IRS, Tesla, Shoppers Locations: EY Americas

☆ Tesla's dominance in the EV market is fading — and all hinges on the Cybertruck
▼ + stars: | 2023-10-12 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Tesla needs the Cybertruck to claw back market share from other brands. After years of little-to-no competition, Tesla's EV dominance is being tested. Four years later, the Cybertruck finally arrives in an increasingly crowded EV market and, for the first time, as a late-arriver to its electric truck segment. Even as total EV sales in the US hit a record high in the third quarter, Tesla's share fell to a record low of 50%, according to Cox Automotive . AdvertisementAdvertisementTesla's first foray into the lucrative truck market is supposed to hit consumer driveways any day now , and it couldn't be coming at a better time.

Persons: Tesla, —, Tesla's, that's, It's, Cox, Musk, Sam Fiorani Organizations: Service, Elon, Cox Automotive, Ford, GM, Volkswagen, Hyundai, Chevrolet, AutoForecast Solutions, Tesla

☆ Tesla keeps chopping prices, making its cars cheaper than even gas competitors
▼ + stars: | 2023-10-12 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Tesla is offering cars well below September's new car average transaction price of $47,899. Tesla's base Model 3 and Model Y are both less than that. Last month, new cars saw an average transaction price (ATP) of $47,899, according to Kelley Blue Book. New car prices have slowly but surely been improving as of late, but are still pretty costly. AdvertisementAdvertisementTo be sure, new car pricing is relatively flat year-over-year (down just $360 from September last year), while used car pricing is more nuanced.

Persons: Tesla, —, Kelley, Elon Musk's, there's Organizations: Service, Cox Automotive, Acura, Lexus, Infiniti, Volvo, stoke

☆ Every type of used car is getting cheaper except trucks
▼ + stars: | 2023-10-10 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

The used car market took off during the COVID-19 pandemic. As of last month, used pricing had declined nearly 4% year-over-year, according to Cox Automotive's latest Manheim Used Vehicle Index, with one exception: Trucks. Overall, despite slight improvements in the used car market from 2020 and 2021, supply remains tight for used cars today, according to Cox, and is tighter than this same point both last year and pre-COVID. Used car dynamicsThe pandemic broke the used car market, and there is no "normal" for this market to return to. The ongoing UAW strike could also eventually threaten used car prices.

Persons: —, Cox, That's, It's, Chris Frey Organizations: Service, Manheim, UAW

☆ GM is shaping up to be the hardest hit by the UAW strike
▼ + stars: | 2023-10-08 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +6 min

GM has the most workers on strike of all the Detroit 3. AdvertisementAdvertisementThe ongoing United Auto Workers strike is taking a multi-million dollar toll on all three Detroit-based automakers, but General Motors might be hit the hardest so far. GM narrowly avoided a fourth strike Friday with an offer that delayed Fain's weekly update for members. This is also the second time in four years that GM has experienced a strike . AdvertisementAdvertisementAnd of the three automakers, GM also has the most striking workers and has temporarily laid off the most workers due to the strike.

Persons: —, Stellantis, Shawn Fain, Fain, Dan Ives, Mary Barra's, Tesla, Jim Cain, Cain, Ford, Ford's, Sam Fiorani, Fiorani, there's, It's, Cox, GM wasn't, Edmunds, Jessica Caldwell Organizations: GM, Detroit, Service, United Auto Workers, UAW, Ford, UAW nabbed, Detroit automakers, Wedbush Securities, Cox, AutoForecast Solutions, Jeep, Chrysler, Dodge, Buick, GMC, Chevrolet, Cadillac, Deutsche Bank Locations: Detroit, Arlington , Texas, Lincoln

☆ You have to pay a whopping $76,000 just to be allowed to own a car in Singapore
▼ + stars: | 2023-10-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +2 min

Drivers in Singapore have to bid for a Certificate of Entitlement to own a car there. AdvertisementAdvertisementIf you want to own and drive a car in Singapore, you're going to have to pay up: Drivers have to now shell out a whopping $76,000-plus to get the right to buy a vehicle there. That certificate is now upwards of a record 146,002 Singapore dollars, about $106,000, for an SUV, Reuters reported. AdvertisementAdvertisementIt costs at least 76,000 Singapore dollars just to own a smaller vehicle, or what's considered a standard Category A car. The expense comes on top of the cost of the car itself, making vehicle ownership in Singapore unobtainable for many.

Persons: —, what's Organizations: Service, Reuters, Toyota Locations: Singapore, Singapore unobtainable, New York

☆ The founder of Tesla's biggest China rival reportedly drank a glass of battery fluid to impress one of Warren Buffett's lieutenants
▼ + stars: | 2023-10-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Its founder, Wang Chuanfu, once drank battery fluid to impress big-name investors, the Wall Street Journal reported. AdvertisementAdvertisementThe founder of Chinese automaker BYD, Tesla's biggest global EV rival, once drank battery fluid in front of a big-name investor to show just how serious he was about his company, the Wall Street Journal reported Wednesday. David Sokol, a lieutenant of Warren Buffett's Berkshire Hathaway, noticed BYD's momentum and visited the company in Shenzhen as early as 2008, according to the Wall Street Journal. BYD saw some hiccups as other Chinese EV makers entered the market and Tesla shored up its Chinese operations. Aside from BYD's unique business achievements, its two head executives also have a noteworthy and fascinating dynamic, the Wall Street Journal reported.

Persons: Elon Musk, Wang Chuanfu, BYD, —, Stella Li, Tesla, David Sokol, Warren Buffett's Berkshire Hathaway, Sokol, Wang Organizations: Elon, Wall Street Journal, Service, EV, Wall Street, Sony, Wall, Motorola, Nokia, Toyota Corolla Locations: China, Shenzhen, Berkshire, BYD, Europe, Southeast Asia, Munich

☆ Buying a luxury car? Your gas and EV options cost about the same. Otherwise, expect to pay nearly $16,000 more to go electric.
▼ + stars: | 2023-10-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Premium electric vehicles now cost nearly the same as premium gas-powered cars, JD Power says. But mass market EVs are still significantly more expensive than their mass market gas counterparts. A new JD Power report says "relative affordability" is a key part of EV adoption assessments. (JD Power did note that once Ford started passing through the full federal tax credit of $7,500 to Mach-E lessees, leasing costs came down.) Overall, mass-market EVs cost $16,000 more than their gas-market counterparts.

Persons: JD Power, —, Power, Mercedes, Ford, EVs, Kelley Organizations: JD, Service, Mercedes, Benz, Ford, Power, ICE, Chevrolet

☆ The UAW strike at Ford, GM, and Stellantis could change the entire automotive industry forever
▼ + stars: | 2023-09-21 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +7 min

For the first time in its 88-year history, the UAW is on strike at all three of the Detroit companies at once. "We have a bigger point to make," Wegener said, noting the strike sends a larger message about inequality across the industry. In fact, the United Auto Workers-led strike at the Detroit 3 is shaping up to have an outsized effect on the entire automotive industry. "If the UAW does dig their heels in and does well here, it's highly likely that they will get other auto workers who are not UAW auto workers to be very interested," Ambrose Conroy, CEO of consultancy Seraph, said. Even the branding of the strike, which Fain has called the "Stand Up" strike, is a play on the UAW's highly influential 1937 sit-down strike at GM.

Persons: Tesla, Matt Wegener, –, Wegener, It's, it's, Ambrose Conroy, Seraph, Fain, we've, Jason Miller, Stellantis, Melissa Atkins, Ford, Jim Farley, Miller, Conroy, They've Organizations: UAW, Service, United Auto Workers, Michigan Assembly, Detroit, Ford, GM, Teamsters, United Airlines, Michigan State University, CNBC, Tesla Locations: Detroit, Wall, Silicon, Wells Fargo

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