Honda – Page 548 – I wish I had more to offer

Honda delays its fun retro-looking all-electric vehicle to 2020, report says

Honda’s first next-gen all-electric vehicle was supposed to go on sale this year, but the production has been pushed to “early 2020” and we might have to temper our expectations when it comes to availability, according to a new report. Back in 2017, Honda Motor Co. President and CEO, Takahiro Hachigo, unveiled the “Urban EV Concept”,… Continue reading Honda delays its fun retro-looking all-electric vehicle to 2020, report says

Honda to halt UK production for 6 days after Brexit

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UPDATE 1-Honda to shut UK production for six days due to Brexit logistics

FILE PHOTO: The logos of Honda Motor Co. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. REUTERS/Toru Hanai LONDON (Reuters) – Japanese carmaker Honda will shut its British operations for six days in April to help it counter any border disruption from the United Kingdom’s departure from the European… Continue reading UPDATE 1-Honda to shut UK production for six days due to Brexit logistics

Tesla Has The Highest Customer Loyalty Of All Car Brands

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Published on January 9th, 2019 |

by Matt Pressman

Tesla Has The Highest Customer Loyalty Of All Car Brands

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January 9th, 2019 by Matt Pressman

Originally published on EVANNEX.

Studies demonstrate that Tesla has forged a unique bond with its customers. Last year, Consumer Reports found that Tesla has the highest rate of customer satisfaction of all car brands. Now, according to more recent research conducted by Experian, it turns out these high levels of satisfaction are translating into exceptionally high rates of customer loyalty as well.

Tesla owners tend to be a satisfied and loyal (Image via Tesla)

In fact, electric vehicle owners (regardless of brand) have a high propensity for loyalty. According to Experian, “Once dealers have customers in an EV, there’s a good chance they get them back again in the future. Electric vehicle customers are showing early signs of being a highly loyal customer segment. When EV customers return to market, 62 percent buy another EV.”

So what about industry leader Tesla?

Experian found, “Tesla owners show an even higher make loyalty rate than EV customers as a whole. More than 4 in 5 Tesla customers — 80.5 percent – buy or lease another Tesla when they return to market. Tesla has the highest level of make loyalty in the industry, ahead of Subaru at 72.1 percent and Ford at 72 percent.” Experian also found that, “Tesla led the industry with a Conquest/Defection ratio of 13.77 to 1.”

Electric vehicle market share based on US EV sales in the first half of 2018 (Source: Experian)

While Tesla plans to introduce a lower-priced Model 3 option, its current vehicle lineup remains relatively expensive. Therefore, it’s no wonder EV owners tend to be a well-heeled crowd. Experian reports that, “individuals with higher education and high home values are currently more likely to purchase EVs.” Furthermore, if trends start in places like California, EV fever could be spreading. According to Experian, EV buyers “are also more likely to be found [see chart above] on the west coast.”

These insights into electric vehicles (and industry leader Tesla) are definitely encouraging. Experian concludes, “the auto industry should be enthusiastic about the electric vehicle segment’s future … as battery costs continue to come down, EV [pricing] will more closely mimic today’s vehicles. All things being equal, customers are likely to opt for a more environmentally friendly option in the future and eventually, the scales will tip in the favor of EVs.”

Carmakers urge Abe to warn May on no-deal Brexit

Honda, Nissan and Toyota worry about impact of UK crashing out of EU Go to Source

Toyota recalls 1.7 million vehicles worldwide over air bag inflators

Toyota Motor Corp’s logo is pictured on a car in Tokyo, Japan, November 8, 2016. REUTERS/Kim Kyung-Hoon WASHINGTON (Reuters) – Toyota Motor Corp (7203.T) said Wednesday it is recalling another 1.7 million vehicles worldwide for potentially faulty Takata air bag inflators as part of a multi-year industry recall campaign announced in 2016. Automakers are adding… Continue reading Toyota recalls 1.7 million vehicles worldwide over air bag inflators

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

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Plug-In Hybrids No Longer Banned From Beverly Hills Charging Stations

3 H BY WADE MALONE New state law requires Beverly Hills City Council to walk back PHEV restrictions. In April of last year, the city of Beverly Hills, California put into effect new restrictions on 35 public charging stations at city parking facilities. In addition to new enforcement regulations and charge fees, Beverly Hills restricted… Continue reading Plug-In Hybrids No Longer Banned From Beverly Hills Charging Stations

Leading the way: Tesla trounces luxury competitors in year-end sales tally

2017 Tesla Model 3
Now that Tesla has released its final sales numbers for the end of last year, we finally have a yardstick to measure the company’s sales success.

In the third quarter, Tesla made a point of noting that, with the Model 3 approaching full production, it became the fifth bestselling—non-SUV—car model in America.

On New Year’s Day, the company reported it delivered 63,150 Model 3s from October to December. That’s up 13 percent from 55,840 from July through September.

READ THIS: Tesla cuts prices $2,000, almost hit 250,000 vehicles in 2018

Taking Tesla's sales numbers at face value for the moment, the company says it sold more Model 3s in the third quarter than some entire brands, including some of its chief competitors, including Acura, Audi, Cadillac, and Infiniti.

Other rivals were also feeling the heat from Model 3 sales. In total Lexus sold 71,107 vehicles and BMW sold 85,949, according to sales numbers from Automotive News (subscription required.)

2018 Tesla Model S and 2018 Tesla Model X

Model 3 sales for Q4 weren’t that far behind entire affordable brands such as Mazda (65,203) and Volkswagen (87,836).

And that’s just one model from Tesla, versus other brands’ entire lineups.

It’s not a direct comparison, because Tesla’s numbers include Canadian sales, while those from other brands are only in the U.S. Still, in the third quarter, Tesla sold about 1,500 Model 3s in Canada, as it focused sales there to delay the expiration of its federal tax credit in the U.S. So the numbers aren’t far off.

Whole lineups

Counting the Model S and Model X (which are exported in greater proportion), the company sold 75,100 cars in the U.S. in Q4, according to Automotive News numbers, more than Lexus (71,107), Audi (55,903), Buick (51,627), Acura (44,451), Infiniti (44,031), Cadillac (41,462), Lincoln (28,307), or Volvo (24,224).

Only BMW and Mercedes sold more, at 95,710 and 101,047, respectively. Using Tesla’s own number of 90,700 sales for the quarter wouldn’t change that order, even though Tesla’s number includes sales of all three of its cars in Canada, and the Model S and Model X around the world.

Head-to-head

When it comes to direct competitors to the Model 3—upscale sedans costing $45,000 to $80,000—the Model 3 trounces all competitors, with the next closest models, the Mercedes-Benz C-Class and the Lexus ES coming in with about 18,000 and 14,000 sales respectively for the quarter. BMW sold 9,847 3-Series sedans, though it has sliced much of that market into niche products such as the 4-series.

DON'T MISS: Tesla Model 3 is fifth bestselling car in U.S., production still short of profitability goal

For the quarter, the Model 3 outsold such mainstays of American roads as the Jeep Grand Cherokee and Wrangler, the Subaru Forester and Outback, and the Honda Pilot. It almost conquered the Toyota Highlander, which had 63,812 sales, and wasn't far behind the Toyota Corolla (68,564) and the Honda Civic (70,724) for the quarter. With its slow production ramp-up early in the year, however, it couldn't approach those top-selling cars for the full year.

Annual sales

Tesla’s slow ramp-up to full Model 3 production was one of the major stories of the year, and the car didn’t start posting big sales numbers until Q3, so many of its sales look less impressive on an annual basis.

For the full year, Mercedes-Benz, BMW, Lexus, and Audi—even Mazda and VW—sold more cars than Tesla. Many of those brands, though, sell full lineups of cars and SUVs in multiple sizes and formats (front-wheel drive/rear-wheel drive; sporty, luxurious, car- or truck-based, for example.) Tesla sells three models: two luxury cars and a crossover SUV.

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