Maturing India car market sees shift to higher pricing dynamics of Rs 10 lakh and beyond In what is a sign of the Indian market maturing and graduating to the next level, the average retail price of a car or an SUV sold in the country has exceeded Rs 10 lakh for the first time… Continue reading Maturing India car market sees shift to higher pricing dynamics of Rs 10 lakh and beyond
Category: US Motoring Press
UK car sales 2022: annual registrations lowest in 30 years
Five months of consecutive growth at the end of the year could not prevent UK new car sales falling to their lowest ebb in 30 years, according to figures for 2022 just released by the Society of Motor Manufacturers and Traders (SMMT). The decline, blamed primarily on supply chain shortages, especially of semiconductors, left total sales… Continue reading UK car sales 2022: annual registrations lowest in 30 years
EVs don’t offer significantly cheaper fleet maintenance costs
The company added that “average BEV mileages are still tracking lower than the equivalent ICE or hybrid vehicles,” with one, two and three-year-old EVs recording 19%, 21%, and 14% lower mileages respectively at the time of their services. “The overriding position is that BEVs are shining through as cheaper on overall SMR costs,” said managing director Vincent St… Continue reading EVs don’t offer significantly cheaper fleet maintenance costs
Stellantis reports a decline in U.S. sales but makes gains in EV sales
Stellantis reported Wednesday that U.S. new vehicles sales in the fourth quarter declined 16% to 347,669 vehicles sold, making six consecutive quarters of sales dips, compared with the year-ago period. For the full year, sales also plummeted 13% compared with 2021 to 1,547,076 vehicles as the automaker struggled against the industry’s various supply shortages that… Continue reading Stellantis reports a decline in U.S. sales but makes gains in EV sales
Southfield auto lender accused of predatory deals, setting up buyers to fail
Southfield-based Credit Acceptance Corp., which made its mark offering auto loans to those who have bad credit and might not qualify for an auto loan otherwise, is accused by regulators of making predatory deals that set financially vulnerable buyers up to fail. The auto loans for the used cars carry “exorbitant interest rates, are loaded… Continue reading Southfield auto lender accused of predatory deals, setting up buyers to fail
GM reports gains in full-year sales, but experts say car buyers to see deals in 2023
General Motors reported a sales gain for the fourth quarter and all of 2022 in what has been a turbulent year as parts shortages kept inventory levels low, hobbling new car sales in the first half only to recover later in the year to help the automaker hang onto its U.S. sales crown. GM said… Continue reading GM reports gains in full-year sales, but experts say car buyers to see deals in 2023
Share of new car buyers with a monthly payment of more than $1,000 hits record high
watch now Financing a new or used car is more expensive than ever, new research shows. Amid rising interest rates and elevated auto prices, the share of new car buyers with a monthly payment of more than $1,000 jumped to a record high, according to Edmunds. For the first time, just over 15% of consumers who… Continue reading Share of new car buyers with a monthly payment of more than $1,000 hits record high
Stellantis beefs up commitment to electric flying vehicle company Archer Aviation
watch now Stellantis is leaning into its bet on a future that includes flying cars. The Chrysler maker is doubling down on its commitment to help Archer Aviation produce its first batch of electric flying vehicles by 2025, announced Stellantis CEO Carlos Tavares and Archer CEO Adam Goldstein in an interview on CNBC’s Tech Check.… Continue reading Stellantis beefs up commitment to electric flying vehicle company Archer Aviation
GM reclaims title as America’s top automaker after a 2.5% jump in sales last year
2022 GMC Sierra 1500 Denali Ultimate GM DETROIT – General Motors reclaimed its U.S. sales crown from Toyota Motor last year as the Detroit automaker eked out a slight gain in annual U.S. vehicle sales despite supply chain problems. GM said Wednesday it sold 2.27 million vehicles in the U.S. in 2022, up by 2.5%… Continue reading GM reclaims title as America’s top automaker after a 2.5% jump in sales last year
Rivian stock hits new 52-week low after the automaker misses 2022 production target
Employees work on an assembly line at startup Rivian Automotive’s electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Shares of Rivian Automotive notched a new 52-week low on Wednesday after the company missed its 25,000-unit production target for last year. The EV startup late Tuesday said it produced 24,337 vehicles… Continue reading Rivian stock hits new 52-week low after the automaker misses 2022 production target