Financial Results – Page 8668 – I wish I had more to offer

GM appeals directly to employees as strike losses pile up

DETROIT/WASHINGTON (Reuters) – General Motors Co took the unusual step of appealing directly to employees in a blog post on Friday that laid out the terms of the automaker’s latest offer aimed at ending a month-long strike. FILE PHOTO: General Motors assembly workers picket outside the General Motors Bowling Green plant during the United Auto… Continue reading GM appeals directly to employees as strike losses pile up

Lengthy UAW strike at GM to cost $1.5 billion: Credit Suisse

(Reuters) – An ongoing workers’ strike at General Motors Co (GM.N) could cost the automaker about $1.5 billion, brokerage Credit Suisse said on Friday, throwing the U.S. automaker’s cost reduction plans off the track and forcing key suppliers to cut their 2019 outlook. FILE PHOTO: General Motors assembly workers picket outside the General Motors Bowling… Continue reading Lengthy UAW strike at GM to cost $1.5 billion: Credit Suisse

Toyota Fleet Mobility buys major UK leasing firm

Toyota Fleet Mobility has confirmed plans to buy one of the UK’s largest full service leasing companies, Inchcape Fleet Solutions (IFS), for £100 million (€113.5 million). The acquisition continues Toyota’s strategy to develop from a vehicle maker to a mobility provider. Toyota Fleet Mobility was created in 2018 as a joint venture between Toyota Financial… Continue reading Toyota Fleet Mobility buys major UK leasing firm

Ford’s Q3 China vehicle sales down 30.3% y/y to 131,060

FILE PHOTO: A visitor is reflected as he takes pictures of a new Ford Aspire car during its launch in New Delhi, India, October 4, 2018. REUTERS/Anushree Fadnavis/File Photo BEIJING (Reuters) – Ford Motor Co’s (F.N) July-to-September vehicle sales in China fell 30%, as the U.S. automaker continues to lose ground in a prolonged sales… Continue reading Ford’s Q3 China vehicle sales down 30.3% y/y to 131,060

GM, UAW clash over how to reach deal to end lengthy strike

WASHINGTON/DETROIT (Reuters) – General Motors (GM.N) and the United Auto Workers (UAW) union clashed late Thursday over how to end a 25-day strike that has cost the company over $1 billion, according to letters seen by Reuters. FILE PHOTO: General Motors Chief Executive Officer Mary Barra announces a major investment focused on the development of… Continue reading GM, UAW clash over how to reach deal to end lengthy strike

Britain’s James Dyson scraps electric car project

* Project was not commercially viable
* Company said the car was a technical success
* Tried but failed to find a buyer
* Will seek to redeploy 500 engineers working on project (Adds further details)
LONDON, Oct 10 (Reuters) – James Dyson, the inventor of the bagless vacuum cleaner, has cancelled his ambitious plan to build an electric car because the project was not commercially viable.
Dyson said his engineers had built a “fantastic car” and that the project was not being closed due to any failures in research and development.
“However, though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable,” he told staff on Thursday.
The company had tried to find a buyer for the project but had not succeeded, he said.
Dyson announced two years ago that his engineers had been working a on a secret automotive project, building on its expertise in batteries and electric motors to develop a vehicle.
The company bet that its ba..

GM CEO Barra takes role in talks to end UAW strike

(Reuters) – General Motors (GM.N) Chief Executive Mary Barra met with senior United Auto Workers officials to discuss the No. 1 U.S. automaker’s most recent proposal to end a more than three-week-old strike that has cost it over $1 billion, a union spokesman said on Thursday. FILE PHOTO: General Motors Chief Executive Officer Mary Barra… Continue reading GM CEO Barra takes role in talks to end UAW strike

Renault: Thierry Bolloré denounces “an amazing stroke”

Posted Oct 10, 2019 at 19:24 What is happening at Renault? The brutality and the totally unexpected nature of what is happening are staggering . I boarded a plane in Tokyo on Tuesday night and landing at 4 am in Paris on Wednesday, I learned through the press that President Jean-Dominique Senard, who until then… Continue reading Renault: Thierry Bolloré denounces “an amazing stroke”

China Tesla Demand Is Spiking

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Published on October 3rd, 2019 |

by Guest Contributor

China Tesla Demand Is Spiking

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October 3rd, 2019 by Guest Contributor

Originally posted on X Auto and EVANNEX.
By Iqtidar Ali

Tesla Model 3 and Model X demand are skyrocketing in China, especially since the Chinese government gave a 10% car purchase tax exemption to Tesla last month — a sign of aggressive electric vehicle policy implementation by China.

A large number of Tesla Model 3, Model S, and Model X vehicles outside the Beijing Department of Motor Vehicles (Source: Jay In Shanghai)

There are several reports coming out of Beijing and Shanghai about massive amounts of deliveries happening via Chinese Tesla stores. As evidenced in the featured image above, Teslas have flooded Beijing’s Department of Motor Vehicles in order to obtain license plates. In addition, below is a short video from outside the Beijing DMV that shows a long line of Model 3s at the facility.

Meanwhile, Chao Zhou is consistently updating the Tesla community about Gigafactory 3 developments by reporting directly from the ground. Chao recently visited the Tesla Shanghai Jinqiao Store and the number of Model 3 sales he saw at the location was nothing short of astonishing.

According to Chao’s meeting with Tesla staff at the Jinqiao Store, a surge in Model 3 orders occurred post-tax exemption. Crunching the numbers, the Jinqiao Tesla Store alone is expected to accumulate 3,000 orders by the end of this month.

It’s quite conceivable that Tesla China will deliver these cars by the end of October, which should bolster Tesla’s Q4 delivery report.

In addition, large numbers of Model X vehicles also await delivery — proof of the popularity of Tesla’s SUV in China. It turns out even Elon Musk used a Model X convoy on his Shanghai visit recently.

China’s 10% tax exemption drops the purchase price of the Tesla’s electric cars by up to 99,000 yuan ($13,960), according to Reuters. Needless to say, this big discount is attracting a lot of attention from Chinese auto buyers searching for a reliable, premium electric car.

The Tesla China website states that the maximum tax break obtainable on a Model 3 is ¥52,000 ($7,345). This tax break can be realized on Model 3’s highest priced variant. For more details, Tesla’s website has a tax incentive info page covering the policy details of every Chinese region.

And it’s not just new Teslas in high demand. According to Quartz, “Nobody wants a used electric vehicle in China, unless it’s a Tesla.” It’s reported that, “A Tesla’s residual value—basically the future value of a car after a certain amount of use—at one year is more than 70% of its original price, far higher than the value of any Chinese EV model at the same mark.”

Tesla’s traction in China (YouTube: CNA)

Meanwhile, Tesla’s Gigafactory 3 buildout remains in “ludicrous” mode. The company’s Model 3 assembly lines are already in place and other parts of the huge complex are nearing completion.

According to Reuters, “Tesla Inc’s China factory aims to start production this month.” Furthermore, CleanTechnica reports, “Tesla will cut off orders of the Model 3 Standard Range after October 13th in anticipation of the start of production at Gigafactory 3 in Shanghai, China.”

To that end, in the coming months, Tesla China customers will be able to get their Model 3s delivered far quicker (in larger quantities) from Shanghai’s Gigafactory 3.

Featured image via Tesla

About the Author

Guest Contributor is many, many people. We publish a number of guest posts from experts in a large variety of fields. This is our contributor account for those special people. 😀

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Audi developing dramatic A5-sized luxury electric coupé – Autocar

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