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Search resuls for: "Auto Insights"


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☆ Say goodbye to the US car market as we know it: Cheap Chinese EVs are coming
  + stars: | 2023-05-16 | by ( Nora Naughton | Tim Levin | ) www.businessinsider.com   time to read: +6 min
After years of eyeing the American market, Chinese brands are poised to arrive. After years of preparation, Chinese car companies are poised to upend the US electric-vehicle market. Chinese EV manufacturers can gain a foothold in the US by coming in at a budget price point, analysts said. "I've driven a number of the Chinese EV brands, and boy oh boy, the Europeans are in trouble." The sheer size of the US car market means new entrants will need to build locally to compete seriously in the long term, he said.
☆ The one crucial industry where China is crushing America in the Tech Cold War
  + stars: | 2023-05-16 | by ( Linette Lopez | ) www.businessinsider.com   time to read: +14 min
As of now, CATL has 13 factories worldwide that supply batteries for Tesla, Toyota, and Daimler. And thanks to its ownership of its battery supply chain, it's able to make cars cheaply. Stevenson-Yang sees parts of China's battery supply chain as the next glut it will need to dump. But the potential of a battery supply glut tomorrow doesn't help carmakers meet their needs today. "But if we're looking at evolutionary improvements, China Battery Inc. will still dominate.
☆ Battle for China's electric SUV market heats up at home and abroad
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +5 min
The trend will spread abroad with growing exports of China-made electric SUVs. The market for SUVs has boomed in China over the past decade and now represents almost 40% of all cars sold, with 400 SUV models of all fuel types. Legacy automakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Toyota (7203.T) are counting on new electric SUVs to bolster China sales. Tesla and Renault (RENA.PA) have already been exporting their China-made electric SUVs to Europe on a large scale. Chinese automakers have their own plans to grow electric SUV sales to Europe.
☆ Analysis: Battle for China's electric SUV market heats up at home and abroad
  + stars: | 2023-05-08 | by ( ) www.reuters.com   time to read: +5 min
The trend will spread abroad with growing exports of China-made electric SUVs. The market for SUVs has boomed in China over the past decade and now represents almost 40% of all cars sold, with 400 SUV models of all fuel types. Legacy automakers Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Toyota (7203.T) are counting on new electric SUVs to bolster China sales. Tesla and Renault (RENA.PA) have already been exporting their China-made electric SUVs to Europe on a large scale. Chinese automakers have their own plans to grow electric SUV sales to Europe.
☆ Xpeng expands assisted driving tech coverage to Shanghai, something Tesla doesn’t offer in China
  + stars: | 2023-03-31 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
SHANGHAI — Chinese electric car company Xpeng announced Friday it will be rolling out its latest assisted driving software to users in the metropolis of Shanghai, something its U.S. rival Tesla does not offer in China. Previously the technology was only available for Xpeng drivers in Shenzhen and Guangzhou. The company already offers assisted driving on highways in China. But the company has tried to make its assisted driving technology a selling point for consumers. "Tesla doesn't really pump Autopilot in China and they don't offer Full Self Driving (FSD) in China, whereas Xpeng really leaned into its NGP as a difference maker for the China market," said Tu Le, founder of Beijing-based advisory firm Sino Auto Insights.
☆ Chinese companies have rushed to fill the gap in Russia left by brands exiting from the Ukraine war
  + stars: | 2023-02-25 | by ( Michelle Toh | ) edition.cnn.com   time to read: +7 min
Chinese manufacturers were already popular in Russia before the war, accounting for approximately 40% of the smartphone market in December 2021. Tough times for consumersAlthough Chinese brands are reaping the rewards of the Western embargo, the Russian market is shrinking as its economy slumps. If the war in Ukraine ends, Apple and Samsung will likely rebuild operations in the country — and quickly recapture smartphone sales, Stryjak said. Even then, with the return of international brands, Chinese players could retain their foothold, particularly given how long it could take to rebuild supply chains. “Stating this a bit harshly, but the Russian brands and the Chinese brands are kind of stand-ins for the real players,” said Le at Sino Auto Insights.
☆ People aren't leasing cars anymore — and it means higher prices and worse choices for used car-buyers
  + stars: | 2023-01-19 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +3 min
Vehicle leasing was down almost 50% last July, compared to January 2020. That means less supply going to the used vehicle market, keeping prices up and inventory low. What that means for used car pricesThat all means there will be fewer, low-mileage yet newer vehicles headed to the used market. Fewer used vehicles in the market, but with the same amount of demand, will keep used vehicle inventory low and their prices relatively high. Used vehicle prices have been up for several months now, and are just starting to creep downward, with the average cost at $27,143 in December, per Cox.
☆ The used electric car market is starting to take off as prices slowly drop
  + stars: | 2023-01-19 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +5 min
At first glance, today's product pipeline might not paint a good picture for the future of the used EV market. "If what we've produced in the last couple of years has been a rich mix, when that goes into the used market, that keeps used prices elevated as well," Dziczek said. Overall declines for used vehicle prices also generally apply to used EVs. Used EVs remain more expensive than used gas-cars, and many might not yet qualify for the used EV tax credit based on its price cap. Dealers are starting to feel incentivized to drop used EVs priced close to the cap to just below it.
☆ The fallout of the pandemic will keep inflating used car prices for years
  + stars: | 2023-01-18 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +4 min
For more than two years, car-buyers faced low vehicle inventory and high new and used car prices. "All of this really means that the normal supply feeds into the used vehicle market are down substantially," he said. "This is going to have huge ramifications for the used vehicle market over the next couple years." Car-buyers face challenges in the used vehicle spaceUsed vehicle prices have been through the roof for some time. Leasing changes aren't the only impact on the used car marketThis decrease in recently turned-in leases as used inventory isn't the only shift.
☆ The pandemic may have ended the auto industry's age-old battle for market share
  + stars: | 2023-01-16 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +4 min
Automakers have spent decades battling each other for market share. Before COVID, automakers often treated market share as the key to their success. "Market share for market share's sake comes at a cost," Kristin Dziczek, Federal Reserve Bank of Chicago policy advisor, said at the firm's annual auto insights symposium in Detroit. Dropping market share doesn't concern GM and FordHowever, the long-standing industry-leaders don't seem worried about growing market share for the likes of Hyundai and Tesla (at 10.6% and 3.8%, respectively, in 2022, per Kelley Blue Book) — and it might mean that the battle for market share is over. "There's going to be more of a focus on more of those high-profit-type vehicles," Stoddard said.
☆ Car makers like Ford and GM are increasing loan payments, while some rivals are keeping costs down
  + stars: | 2023-01-15 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +4 min
Between March 2020 and December 2022, average monthly loan payments jumped about 29%, according to Dealertrack data Chesbrough shared. "Not everybody has risen their monthly payments in quite the amount." Alfa Romeo, Mini, Subaru, Jaguar, Audi, Kia, Mercedes-Benz, Infiniti, Toyota, and Genesis, made up the 10 brands with the lowest increases in their average monthly loan payments over the same period. Toyota was one of the 10 brands with the lowest increase in their average monthly loan payments since the pandemic began. "We think that there's really not going to be enough demand there at these high prices," Chesbrough said.
☆ There's a growing chance your next electric car will be built by the same company as your iPhone
  + stars: | 2022-12-18 | by ( Tim Levin | ) www.businessinsider.com   time to read: +4 min
It's making deals to build cars for electric-vehicle startups — and someday wants to build cars for Tesla. Foxconn, the Taiwanese electronics giant that assembles all manner of popular devices including the iPhone, iPad, Kindle, and Nintendo Switch, is diving head-first into the world of electric vehicles. Foxconn unveiled an electric pickup truck prototype in October. Lordstown Motors just recently started shipping out Foxconn-made electric pickup trucks to customers. Volkswagen is considering hiring Foxconn to build its new Scout-branded electric SUV and pickup truck destined for US buyers, Germany's Automobilwoche reported in November.
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