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☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ The Tesla Cybertruck Is Almost Here. What Will It Cost?
▼ + stars: | 2023-11-30 | by ( Rebecca Elliott | ) www.wsj.com time to read: 1 min

The launch of Tesla’s Cybertruck is one of the most anticipated electric-vehicle releases in history. Barclays analyst Dan Levy and AlixPartners’ Mark Wakefield weigh in on how Tesla’s first pickup could shake up the market. Photo: Frederic Brown/Getty ImagesAfter a two-year delay, Tesla is finally ready to start delivering its first Cybertruck pickups to customers. The big questions now for those who have endured the wait: How much will it cost and how far can it travel on a single battery charge?

Persons: Dan Levy, AlixPartners ’ Mark Wakefield, Frederic Brown, Tesla Organizations: Barclays

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. If production of EVs continues to outpace demand, automakers will have to choose between slashing prices and profit margins, or slowing assembly lines. More than 90 new EV models are expected to hit the U.S. market through 2026, according to AutoForecast Solutions. In a statement, Volkswagen's U.S. sales arm said "we have seen some softening in EV sales in the U.S. recently" as supply chain bottlenecks have eased, allowing for increased production. Wakefield said it is too soon to declare that U.S. EV demand has hit a plateau.

Persons: Tesla, EVs, Cox, Ford, Vitaly Golomb, Biden, Price, Mark Wakefield, Wakefield, Joe White, Nick Zieminski Organizations: DETROIT, EV, North, AutoForecast Solutions, Dealers, General Motors, Ford, Hyundai, Toyota, Cox Automotive, U.S, Cox, GM, Cadillac, GMC, Volkswagen, U.S ., VW, Industry, EVs, Thomson Locations: U.S, North America, United States, Texas, Washington, Tennessee

☆ Automakers' contract negotiations will decide potential EV future for idled Illinois plant
▼ + stars: | 2023-07-05 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +6 min

The real question is how long will UAW workers stay off the job, said Mark Wakefield, co-head of AlixPartners' automotive practice. Around 1,680 union workers company-wide agreed to take the buyout, according to a union representative. He opted for a voluntary transfer to a Stellantis plant in Toledo, Ohio. Illinois Governor J.B. Pritzker has also stepped up efforts to salvage the 58-year-old Belvidere plant that once employed 4,500 union workers. Reporting by Bianca Flowers in Belvidere, Illinois Additonal reporting by Joseph White in Detroit Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Matt Frantzen, Tesla, Shawn Fain, Fain, Mark Wakefield, Wakefield, Mary Barra, Jim Farley, Barra, Farley, Carlos Tavares, Stellantis, Robert Stacy, Auston Gore, Joe Biden, J.B, Pritzker, Brandon Campbell, Bianca Flowers, Joseph White, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, automakers, UAW, General Motors, Ford, Detroit, CNBC, Detroit Free Press, Stellantis, U.S, Illinois, EVs, Thomson Locations: BELVIDERE , Illinois, Illinois, Belvidere, idled, U.S, Washington, EVs, Toledo , Ohio, Chicago, Belvidere ., Michigan, Indiana, Belvidere , Illinois, Detroit

☆ Car prices aren't going down. Automakers are just finally building something other than expensive trucks.
▼ + stars: | 2023-06-26 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Individual vehicle prices aren't going down, but the average car price is overall. Combined with incentives improving, average transaction prices could fall 7% by 2025. Car prices could fall by about 7% by 2025, providing some much-needed relief for car shoppers after years of jacked-up prices, according to consultancy AlixPartners. There might also be more options than simply luxury or higher-end vehicles, resulting in a blanket drop in average auto-buying prices. Car companies learned they could sell more expensive vehicles and vehicles at higher prices overall, especially during the vehicle supply-and-demand scare brought on by the pandemic.

Persons: Mark Wakefield, they've, aren't, AlixPartners, carmakers Organizations: AlixPartners, Morning Locations: AlixPartners ., AlixPartners

☆ Car companies want to make billions by charging monthly fees for features like heated seats, but buyers won't pay up
▼ + stars: | 2022-11-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Car companies expect to make billions charging customers recurring fees for vehicle features. As vehicles become increasingly connected to the internet, car companies aim to rake in billions by having customers pay monthly or annual subscriptions to access certain features. But car companies still haven't figured out exactly what customers are willing to pay for, and what feels like a frustrating upcharge. An April study by Cox Automotive found that 75% of consumers are not willing to subscribe to most vehicle features. Hackers have helped car owners upgrade their vehicles for years, and subscription features could be their next target, Vice reported.

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