DIRS.INFO The most relevant business & tech news

☆ Toyota, Honda among 2.3 million vehicles recalled in November. How to make sure your car is fit for long-distance travel plans
▼ + stars: | 2023-11-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"It's common for there to be a recall when there haven't been any incidents yet," said Moody. For the Nov. 16 recall on damaged engines, drivers should expect to receive a notification on Jan. 2, 2024. Travel plans 'will depend on the nature of the recall'As to whether or not travel plans should be altered, the decision will depend on the nature of the recall, said McParland. "If the recall says possible transmission failure, that's a lot more risky for long-distance travel versus a glitchy navigation system," McParland said. "Usually rentals are not covered" as part of the recall repair, McParland said.

Persons: haven't, Brian Moody, Kelley, Moody, It's, McParland Organizations: Maskot, Getty, Honda's

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, ___

☆ 3 reasons why electric cars will soon get a lot cheaper
▼ + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.

Persons: —, Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles

☆ The EV industry is the only sector in the world on track to meet global climate goals
▼ + stars: | 2023-11-17 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Electric vehicles is the only industry on track to meet climate goals by 2030, a new report found. But a report published Tuesday found that the EV sector is on track to meet 2030 targets aimed at averting the worst impacts of the climate crisis. There's no indication that any other industry — including power, buildings, agriculture, and finance — will curb greenhouse-gas emissions enough to meet 2030 targets. People still need to drive less and take more buses and trains to reduce emissions, Hecke added. The report found that, collectively, countries would need to build the equivalent of three New York City transit systems a year until 2030 to meet climate goals.

Persons: we've, Kelley, Hecke, Biden Organizations: Service, General Motors, Ford, EV, NewClimate Institute, European Union, EU, New, UN, Climate Action Locations: China, Norway, Canada, Chile, New York City, Europe

☆ Tesla may finally be about to produce a truly affordable electric car
▼ + stars: | 2023-11-06 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Tesla could build a new car that will sell for nearly $27,000, per Reuters. It could be a boost for the EV transition, which has been hampered by a lack of affordable options. AdvertisementAdvertisementTesla is planning to build a 25,000 euro ($27,000) electric car at its Berlin Gigafactory, according to a report from Reuters citing an unnamed source. Tesla CEO Elon Musk reportedly told staff about the plans during a visit to the factory on Friday. AdvertisementAdvertisementCurrently, the cheapest vehicle Tesla sells is the $38,990 Model 3, which was briefly available for $35,000 in 2019.

Persons: Tesla, —, Elon Musk, Kelley, Musk Organizations: Reuters, Service, Tesla, Ford, GM, EV Locations: Berlin

☆ Tesla's enduring power is even clearer after the EV competition in Detroit falls flat
▼ + stars: | 2023-10-31 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe traditional auto industry has had more than a decade to build viable electric vehicle businesses. Again, maybe the traditional auto companies get a pass. WeWork-level lossesFord's EV business lost $1.3 billion, before interest and taxes, in the third quarter of 2023 – on just $1.8 billion of revenue. Detroit has responded with EV price cuts to try to compete with Tesla. Its auto business had a gross profit margin of more than 16% in Q3.

Persons: Tesla, —, Ford, Elon, haven't, China's BYD, Goldman Sachs, Kelley, Mercedes, Price Organizations: Ford, GM, Service, General Motors, Toyota, Honda, Wall Street, EV, Detroit, Mercedes, Benz, Tesla, LG Energy, Auto 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

☆ 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

☆ Sparse inventory drives prices for new, used vehicles higher. 3 things to do when car shopping
▼ + stars: | 2023-10-17 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Moreover, the strike might only affect a relatively small number of vehicles when compared to the auto market as a whole. Car shoppers hardly saw similar end-of-summer sales last year either because of a chip shortage that reduced production levels, added Caldwell. "It is absolutely a great time to look into the EV market, both for new and pre-owned," he said. Additionally, recurring price cuts from Tesla this year might also soften prices in the EV market as a whole, added Caldwell. Shopping tips for a low-inventory car market

Persons: Adam Gault, Jessica Caldwell, Edmunds, Gen Z, We're, They're, Caldwell, Tom McParland, There's, Kelley, EVs Organizations: Finance, Workers, United Auto Workers, Automatch Consulting, EV Locations: Edmunds

DETROIT (AP) — General Motors will delay electric pickup truck production at a factory near Detroit due to slowing U.S. demand for electric vehicles, to better manage its capital investments, and to make some engineering changes. Political Cartoons View All 1211 ImagesGM already is building a Chevrolet Silverado work truck at its “Factory Zero” electric vehicle plant, which straddles the border between Detroit and the enclave of Hamtramck. August EV sales were up almost 60% from a year earlier, but in September, the year-over-year growth rate dropped to 56%, according to Motorintelligence.com. But that transition is a lot more difficult and takes more time.”Still, Fiorani predicted that EV sales growth won't recede much, but the rate of increase won't be as high as it was previously. ____This story has been corrected to show that the electric vehicle sales growth rate in September was 56%, not 51%.

Persons: Kevin Kelly, ”, Kelly, it's, Kelley, Tesla, Chevrolet Bolt, Sam Fiorani, Fiorani Organizations: DETROIT, —, Motors, Silverado, GMC Sierra, United Auto Workers, Orion, Chevrolet, Workers, GMC, EV, GM, Factory Zero, AutoForecast Solutions Locations: Detroit, Orion Township , Michigan, Michigan, Hamtramck, U.S, . U.S, That's

☆ 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

☆ 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

☆ Hyundai and Kia are the latest to switch to Tesla EV charging
▼ + stars: | 2023-10-05 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

In 2025, Hyundai will begin providing adapters to owners of older Hyundai models with the Combined Charging System ports their EVs are currently built with. The three South Korean automakers are all part of Hyundai Motor Group, although Hyundai and Kia operate as separate companies in the United States. A major stepThis marks an especially significant development for the Tesla charging system. Counted together, Hyundai, Kia and Genesis would be the second-best-selling EV manufacturer in the United States after Tesla, according to figures from Kelley Blue Book. Having more automakers and charging companies using its standard has been seen as a win for Tesla.

Persons: Tesla, Kelley, Elon Musk Organizations: New, New York CNN, South, Kia, Hyundai, Ford, General Motors, Mercedes, Benz, Nissan, Honda, Hyundai Motor Group, Kona, Niro, Genesis, GM, EV, CCS, Tesla Locations: New York, United States

☆ 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

☆ Tesla's new, cheaper Model Y is one of the best deals you can get on an EV right now
▼ + stars: | 2023-10-04 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Tesla launched a new, cheaper version of its popular Model Y SUV. The rear-wheel-drive Model Y costs $43,990. Elon Musk's carmaker quietly launched a new base model of its popular Model Y SUV — and it's instantly one of the best deals on the US electric-vehicle market. A new rear-wheel-drive Model Y appeared on Tesla's website on Monday with a price of $43,990. The next cheapest Model Y costs $50,490.

Persons: Tesla, —, Elon Musk's carmaker, it's, Kelley, Bolt, Kia Niro, Kia haven't Organizations: Service, Chevrolet Bolt, Nissan, RWD, Kia, Hyundai Kona EV, VW, Hyundai

☆ Car buying was finally getting better. The auto workers' strike will make it bad for everyone again.
▼ + stars: | 2023-09-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The United Auto Workers union is on strike, targeting a select few Detroit 3 car factories. After years of a pandemic-driven supply-and-demand car crunch that jacked up new and used vehicle prices and shrunk dealership supply, car buyers had just started to see a little respite. The used car market has been trickier to generalize, but even used vehicle listing prices finally dropped slightly in July. "Pricing may well go up just because of scarcity, and if that happens, then the consumer that potentially was buying a new car would move to the used car market," Russell Hensley, partner in McKinsey's global automotive and assembly practice, said. "Prices will likely go up in the used car market."

Persons: Pat Ryan, Kelley, Cadillac, Jeep Wrangler, Ryan, Russell Hensley Organizations: United Auto Workers, Detroit, UAW, Service, Ford, GM, GMC, Buick, Chrysler, Chevrolet, Cox Automotive, Honda, Toyota, Kia, Jeep Locations: Wall, Silicon, Detroit, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio

The UAW began striking at factories that make only a few vehicles – Ford Broncos and Rangers, Jeep Wranglers, Chevrolet mid-size pickups and GMC vans. Car prices were rising long before the auto workers even raised the possibility of a strike. Prices are almost certain to rise even if the strike is settled quickly, because the auto makers' labor costs will increase. “They could double our wages and not raise car prices and still make billions of dollars in profit,” he said during an online presentation to union members this week. It's all enough to make many motorists consider avoiding the car lot and keeping their current car a while longer.

Persons: Stellantis, ”, Ivan Drury, isn’t, Garrett Nelson, ” Nelson, “, we’re, Tesla, Drury, Kelley, Patrick Anderson, Shawn Fain, Edmunds Organizations: DALLAS, United Auto Workers, Dealers, General Motors, UAW, Detroit, Ford Broncos, Rangers, Jeep Wranglers, Chevrolet, GMC, Chevrolet Silverado, Tahoe, GMC Sierra, Ford, CFRA Research, GM, Fiat Chrysler, Toyota, Honda, Consumers, Federal Reserve Bank of New, Anderson Economic Group, Stellantis, “ Locations: Edmunds, Mexico, Federal Reserve Bank of New York

☆ Are Teslas worth the price? How EVs compare with gas-powered vehicles
▼ + stars: | 2023-09-14 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

After credits and other costs, the upfront price of Tesla's Model Y is only about $100 more than the Audi Q5. At $29,135, the 2023 Leaf has a higher sticker price than the 2023 Sentra, which goes for $21,295, according to Edmunds. However, it would take nearly 12 years to make up the $10,000 difference in upfront costs when compared with the Sentra. Overall, that works out to an upfront cost of $49,130 — $4,335 more than the 330i. With annual cost savings of $1,675, Model 3 owners would cover the upfront price difference in just over two and a half years.

Persons: Edmunds, Kelley, Fueleconomy.gov Organizations: Tesla, Audi, Nissan Leaf, Nissan Sentra, ICE, Leaf, BMW Locations: Edmunds

Now, given the current high car costs and interest rates, drivers are shifting their focus to less expensive models. That shift shows in so-called "days to turn" numbers, which measure how long cars are in dealer inventory before being sold. "People have stopped going for top-of-the-line cars and are going for mid-trim cars," he added, "That's where we're starting to see the shift." Paul Waatti industry analyst at AutoPacificFive years ago, there were 12 vehicles selling for an average price of more than $100,000. Know your budget — really Most car buyers use monthly payments to conceptualize how expensive a car is.

Persons: Patrick T, Joseph Yoon, homebuyers, Yoon, Edmunds, Brian Moody, Kelley, Moody, Paul Waatti, Waatti, they're, Tom McParland Organizations: Fallon, Bloomberg, Getty, Finance, Mitsubishi Mirage, Consumers, Chevrolet, Chrysler, Fiat, Honda, Hyundai, Kia, Mazda, Mitsubishi, Nissan, Subaru, Toyota, Volkswagen —, Auto, AutoPacific, Ferrari, Lamborghini, Royce, Automatch Consulting Locations: Autonation, Carvana, Buffalo , New York, Edmunds

☆ Tesla's long-promised $25,000 car could look as futuristic as the Cybertruck, Elon Musk's biographer says
▼ + stars: | 2023-09-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Tesla CEO Elon Musk hasn't always prioritized the $25,000 electric car he's promised. Musk has long been more interested in a robotaxi, Musk's biographer Walter Isaacson told Axios. Tesla executives have convinced Musk to do both. In a design review session earlier this year, mockups of both the robotaxi and the $25,000 EV had a futuristic design not unlike the long-awaited Cybertruck. Back-and-forth promisesBut Musk has a complicated history regarding his promises about building a $25,000 EV.

Persons: Elon Musk, Musk, Walter Isaacson, Axios, Musk's, Tesla, he'd, EVs, Kelley, Lucid Organizations: Service, EV, Volkswagen Locations: Wall, Silicon, Mexico

☆ Auto workers want 40% pay increases. Analysts worry that will drive up car prices and make it harder for Ford, GM, and Stellantis to compete with Tesla.
▼ + stars: | 2023-08-30 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Workers at Ford, GM, and Stellantis are fighting the automakers for higher wages. The United Auto Workers union is targeting a 40% wage increase in its ongoing contract negotiations. AdvertisementAdvertisementWorkers at Ford, GM, and Stellantis are fighting for 40% pay increases — but analysts worry that will drive up car prices and ultimately, make it harder for these auto giants to compete with Tesla. The United Auto Workers union fight with Detroit's Big Three carmakers is heating up. Union workers are arguing that they deserve a greater slice of the pie after seeing those COVID-era profits line automaker pockets instead of theirs.

Persons: Detroit's, Kelley, Tesla, Ford Organizations: Ford, GM, United Auto Workers, Morning, Tesla, Dealers, Wedbush Securities, Detroit, Bloomberg Locations: Detroit

Consider this: In July, just one car model — the Mitsubishi Mirage — had an average new-vehicle transaction price below $20,000, according to Kelley Blue Book data. The $20,000-or-below barometer is a sort of unofficial price threshold for an affordable new car, said Brian Moody, executive editor for Kelley Blue Book. Five years ago, there were 12 vehicles selling for an average price of more than $100,000. The average new-vehicle purchase price today is about $48,000, up from about $30,000 in 2012, according to Kelley Blue Book. Know your budget — really Most car buyers use monthly payments to conceptualize how expensive a car is.

Persons: Kelley, Brian Moody, Moody, Tom McParland, Paul Waatti, Waatti, Joseph Yoon, they're, Yoon, McParland Organizations: Mitsubishi, Manufacturers, Kia, Hyundai, Nissan, Mitsubishi —, Automatch Consulting, Consumers, Edmunds, Auto, Ferrari, Lamborghini, Royce

☆ EVs are the only cars you can get a deal on right now
▼ + stars: | 2023-08-27 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +5 min

As car companies produce more EVs than ever, these cars are starting to pile up on dealer lots for the first time. AdvertisementAdvertisementOn average, electric cars were selling for around $2,000 over sticker price last year, according to Jessica Caldwell, an automotive analyst for Edmunds. AdvertisementAdvertisementOn average, EVs are still more expensive, on average, than gas-powered cars, with EVs going for about $53,469 in July, says Kelley Blue Book (down from $66,000 a year earlier ). And with help from new federal tax credits, leasing deals abound on electric cars . Even some of the more expensive EVs are dropping in price rapidly, too.

Persons: Elon, Jessica Caldwell, Edmunds, Caldwell, Tesla, Kelley, they've Organizations: Tesla, EV, Shoppers

☆ Electric cars are breaking sales records, but here’s why they’re not replacing gas cars anytime soon
▼ + stars: | 2023-08-20 | by ( Christopher Hickey | ) edition.cnn.com time to read: +5 min

More shoppers are choosing electric vehicles so far this year than ever, according to vehicle sales data from Cox Automotive. While EV sales have been growing healthily for the past couple of years, that trend has accelerated this year. The electric vehicle market is entering into a transition period, she said. The average electric vehicle price in July was $53,469, according to Kelley Blue Book, versus an average price of $48,334 across all vehicles. But the number of charging stations still lags behind what is needed to support a wider-scale adoption of electric vehicles.

Persons: Cox, That’s, ”, Stephanie Valdez, Streaty, Chevrolet Bolt, Rivian, BEV, “ We’ve, ” Valdez, Price, Kelley, “ Organizations: Cox Automotive, EV, Streaty, CNN, Alliance for Automotive Innovation, Tesla, Volkswagen, Valdez, US Energy, Ford, EV considerers, US Department of Energy, Alliance, Automotive, Quarterly, California Energy Commission, AAI, District of Columbia, California Air Resources Board Locations: Valdez, California

Search resuls for: "Kelley Blue"

25 mentions found