VW – Page 3353 – I wish I had more to offer

Press Releases – Pierre Lahutte elected chairman of ACEA’s Commercial Vehicle Board for 2019

Brussels, 9 January 2019 – The Commercial Vehicle Board of Directors of the European Automobile Manufacturers’ Association (ACEA) has elected Pierre Lahutte as its new Chairman for 2019. Mr Lahutte is the Brand President of IVECO at CNH Industrial and takes over the chairmanship from Joachim Drees, CEO of MAN Truck & Bus. As the… Continue reading Press Releases – Pierre Lahutte elected chairman of ACEA’s Commercial Vehicle Board for 2019

VW: Moia starts in Hamburg

More mobility for the Hanseatic city: Moia, the ride-sharing service of VW, goes into the test mode. From April, passengers should regularly travel in the Electric minibuses above her Smartphone book. January 9, 2019, 5:17 pm, Werner Pluta Electric miniature bus Moia in the courtyard of Hamburg City Hall: criticism of taxi drivers (Photo: Moia)… Continue reading VW: Moia starts in Hamburg

Quickly is born, the first carsharing exclusive for dealers

Quikly is the first platform that will make dealerships more relevant in the mobility scenario, because with this initiative they will be able to offer, not only a new mobility system in the area, but also one-click substitution cars. In addition, billing for substitutes will increase significantly. Quikly has become the new way in which… Continue reading Quickly is born, the first carsharing exclusive for dealers

Top Automotive Industry News for Week of December 17 – December 23, 2018

Here is the most important news associated with the automotive industry
identified by the AEA for the week of December 17, 2018 – December 23,
2018.

We hope it helps you stay up to speed on the key developments in our
industry:

-AEA Membership News-

The next AEA Members Reception will be held on Thursday January 24th,
2019 in San Francio. Invitations have been sent to all current AEA
Members. Annual AEA Member Dues renewal will occur on January 2 nd, 2019. If you have any questions, please contact
memberservices@automotiveexecutives.com

-Automotive Manufacturing News–Automotive Manufacturing News-

Carlos Ghosn vows to 'restore my honor' in first remarks since arrest

(autoblog)

Ford's New Truck-like Explorer SUV To Debut Jan. 9 Ahead Of Detroit
Auto Show

(Forbes)

General Motors hints it could negotiate a way to keep one or more
plants open

(CNBC)

German automakers BMW, Daimler stand to benefit the most if China cuts
US auto tariffs

(CNBC)

Ghosn Rearrested, Now Faces 20 Years in Prison

(Forbes)

GM gets thousands of holiday letters about plant closings

(Detroit Free Press)

IIHS Unveils Top Safety Pick Plus Models for 2019

(The Detroit Bureau)

In the Switch to Electric Vehicles, Expect a Few Giants to Crash

(Bloomberg)

Jeep Wrangler plant uses rotisserie to crank out SUVs

(Detroit Free Press)

Nissan to lay off 1,000 Mexican workers, citing market challenges

(autoblog)

Tesla Survived Manufacturing Hell–Now Comes The Hard Part

(Forbes)

UAW scandal sending union's ex-No. 2 in Fiat Chrysler Department to
prison

(Detroit Free Press)

-Automotive Evolution News-

Daimler, BMW Get U.S. Approval for Mobility Company

(The Detroit Bureau)

How electric cars are slowly moving from niche to something 'people
want to buy'

(CNBC)

Laser Vision Upstart Luminar Reveals Self-Driving Tech Alliance With
Audi's AID Unit

(Forbes)

NHTSA Moves to Accelerate Autonomous Vehicle Petitions

(The Detroit Bureau)

Self-driving bill hits dead end in U.S. Senate

(The Detroit News)

The Year Of The Scooter: The Good, The Bad, And The Road Ahead

(Forbes)

Uber's self-driving cars are back on the road, nine months after a
fatal accident

(CNBC)

Zoox Inc. Snags First California Permit To Transport Passengers In
Self-Driving Cars

(NPR)

-Automotive Retail News-

Beating Predictions, 2018 New Car Sales to Surpass 2017 Results

(The Detroit Bureau)

CarMax's stock drops after earnings beat, but used car sales miss

(MarketWatch)

Fed Raises Interest Rate, Lowers Growth Forecast

(Auto Dealer)

Shopping for a new car? Buy before the Fed rate hike affects car loans

(MarketWatch)

Study: Dealers Overspend on Marketing

(Auto Dealer)

U.S. auto sales seen falling 1% in December, say J.D. Power, LMC

(autoblog)

-Automotive Wholesale News-

Car Values at Auction Continue Decline at Year's End

(Vehicle Remarketing)

-Automotive Ownership News-

'Dramatic drops' in gas prices: Less-than-$2 gas is here for many
American motorists

(USA Today)

-Automotive Enthusiast News-

In a blatant attempt to pull at our heart strings, Chevrolet is
offering an in-car Santa tracker

(CNBC)

The most amazing classic car stories of 2018

(FOX News)

-Automotive Servicing News-

Citing Fire Danger Ford Recalls 410,000 Pickups

(Forbes)

Report: 16.7M faulty Takata air bags still on US roads

(The Detroit News)

The Biggest and Smallest Automotive Recalls of 2018

(Car and Driver)

Tesla Model S catches fire in California town: Fire Department

(CNBC)

-General Business & Executive News-

ACV Auctions continues rapid disruption of $100B wholesale automotive
industry

(PR Newswire)

Car rental company Fair raises $385 million in SoftBank-led funding
round

(Reuters)

CU Direct's credit union network leads in auto loan originations

(Automotive News)

The real problem with the American auto industry

(CNN)

U.S. third-quarter growth trimmed; business spending slowing

(Reuters)

-AEA Reminder-

Did we miss something? Let us know via our

. If you have specific important news going public soon that you would like
to share with your fellow AEA Members, submit your

PR Distribution Request >>

Have a great week,

Member Services

memberservices@automotiveexecutives.com

Automotive Executives Association

www.automotiveexecutives.com

VW ride-pooling arm launches operations in Hamburg

MOIA eventually wants to offer services in 50 cities across Europe and the US Go to Source

Volkswagen hires Apple executive for autonomous vehicle role

FILE PHOTO: Volkswagen logos are pictured during the media day of the Salao do Automovel International Auto Show in Sao Paulo, Brazil November 6, 2018. REUTERS/Paulo Whitaker FRANKFURT (Reuters) – Volkswagen AG (VOWG_p.DE) said on Wednesday it had hired an executive from Apple (AAPL.O) as a director responsible for technical development at its commercial vehicles… Continue reading Volkswagen hires Apple executive for autonomous vehicle role

Audi Sport ABT Schaeffler startet in Marokko

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Education Award: Making the Volkswagen workforce fit for the future

Team “E-Mobility Training Center with E-Motion Room” at the Volkswagen factory in Zwickau The Volkswagen Group has presented the Education Award to five outstanding education projects. An international jury comprising over 100 members selected the best projects in the categories of digital learning formats in vocational training, digital learning formats in further education, technical transformation… Continue reading Education Award: Making the Volkswagen workforce fit for the future

The “Tesla Stretch” — Proving Car Buyers Will Pay More For A Tesla Model 3

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Published on January 9th, 2019 |

by Matt Pressman

The “Tesla Stretch” — Proving Car Buyers Will Pay More For A Tesla Model 3

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January 9th, 2019 by Matt Pressman

Originally published on EVANNEX.

The Tesla Model 3 is turning out to be an electric car that’s seducing car buyers across multiple market segments. According to a CleanTechnica report, “45% of current electric car drivers plan to buy a Tesla next.” Okay, that’s understandable. Non-Tesla EV drivers might be interested in a Tesla. That said, it’s extraordinary how many gas-powered car owners, from vastly different auto segments, are transitioning to Teslas.

Tesla Model 3 (Photo by Zach Shahan, CleanTechnica)

Bloomberg reports, “When Chief Executive Officer Elon Musk first revealed the Model 3 at a late-night party in March 2016, the vehicle was expected to compete in the premium sedan market against the likes of Audi, BMW, Lexus and Mercedes. Instead, owners of mass market cars like the Honda Accord and Toyota Prius are opening their wallets for the sedan, signaling that the vehicle is pushing Tesla beyond its luxury niche and more into the mainstream.” Buyers are also coming from the BMW 3 Series, and surely other luxury cars, but luxury car sales are not down much and Tesla appears to be pulling much more from lower classes.

“For Earl Banning, getting behind the wheel of a Tesla meant spending more than he ever had on a car. The 43-year-old Air Force neuropsychologist from Dayton, Ohio, ponied up $54,000 for a Model 3, figuring he would save on gas and keep the car for a long time. It was almost double what he had previously paid for a fully loaded Honda Accord,” reports Bloomberg.

The most common cars traded in for a Model 3 according to Tesla’s CEO Elon Musk (Chart by Bloomberg)

Banning says, “I call it the Tesla Stretch — everyone I’ve met who owns a Model 3 is willing to spend more to get into a Model 3.” For example, a former Nissan Altima owner, 36-year-old Eric Snapat, spent nearly $60,000 on his new Tesla. And 26-year-old Robert Preston actually charges $155 a day to rent out his Tesla on Turo to help pay for his new Model 3. “Every weekend I have someone renting it,” Preston said.

“Tesla recently said that more than half the trade-ins for the Model 3 were from vehicles priced below $35,000. And there are signs that the sedan’s popularity is adding [some] pressure on rival carmakers. … In October, sales of cars such as the Accord and Prius continued to slip as deliveries of the Model 3 ramped up,” according to Bloomberg.

⇒ Related: Honda Accord Sales & Civic Sales Drop 80,000 In 2018

A Tesla Model 3 charging in Florida. (Photo by Zach Shahan, CleanTechnica)

“Tesla has captured lightning in a bottle,” said Jeremy Acevedo, manager of industry analysis at researcher Edmunds. “It’s hard to even benchmark the Model 3 against other cars because it’s broken the mold in so many ways.”

⇒ Tesla Model 3 = Lightning, Model Y = Thunder

About the Author

Matt Pressman is all about Tesla. He’s a TSLA investor, pre-ordered the Model 3, and loves driving the family's Model S and Model X company cars. As co-founder of EVANNEX, a family business specializing in aftermarket Tesla accessories, he’s served as a contributor/editor of Electric Vehicle University (EVU) and the Owning Model S and Getting Ready for Model 3 books. He writes daily about Tesla and you can follow his work on the EVANNEX blog.

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China car sales see first drop for 20 years

Car sales in China, the world’s biggest vehicle market, have seen their first annual fall in twenty years. Sales fell 6% to 22.7 million units in 2018, according to the China Passenger Car Association (CPCA). The deceleration comes amid a slowdown in China’s economy which has hit performance at car manufacturers around the world. The… Continue reading China car sales see first drop for 20 years