January New Car Sales Up 12% Year Over Year In Europe
According to figures released on Tuesday, new automobile sales in the European Union increased 12.1% year over year in January, driven by double-digit growth in Germany and Italy. Fully electric…
Xpeng, Chinese EV Maker, To Invest In AI, Hire 4,000 More Employees
In an attempt to survive what it refers to as a “bloody sea” of competition in the biggest auto market in the world, Chinese electric carmaker Xpeng said that it…
Lucid To Cut EV Prices As Market Sags
In an effort to stimulate demand in a slowing market, electric car manufacturer Lucid Group reduced the price of its flagship Air luxury sedans by 1% to 10% on Thursday.…
China On Track To Be No. 1 Exporter Of Automobiles
On Friday, Nikkei Asia reported that according to preliminary data from the China Association of Automobile Manufacturers (CAAM), China is presently poised to become the world’s largest car exporter this…
EVs Piling Up On Dealer Lots As Consumers Buy Gas Models
A new report in the Wall Street Journal noted that American consumers are continuing t0 purchase gas powered vehicles in large numbers, however this has left Electric Vehicles (EVs) “piling…
Thailand Receives $4.3 Billion From Japanese Automakers For EV Manufacture
On Monday, a Thai government spokesperson announced a deal which will see major Japanese auto manufacturers invest as much as 150 million baht ($4.34 billion) over the five years in…
Half Of Buick Dealers Choose A GM Buyout To Avoid Selling EVs
According to a new report in the Wall Street Journal, nearly half of Buick dealers in the United States have chosen to accept buyouts from General Motors (GM) which will…
Tesla Forgoes Merit-Based Stock Compensation
On Tuesday, Bloomberg reported that Tesla will not be providing its employees with yearly merit-based stock awards. Tesla did not immediately respond to requests for comments. The news of Tesla’s…
Rising Interest Rates Leave Increasing Numbers Of Car Buyers Underwater
As interest rates rise, and the value of used vehicles declines, car-loan borrowers are experiencing increasing pressure, with many now owing more on their loan than their vehicles are worth.…
Nissan To Export Chinese EVs
On Sunday, Nissan Motor announced it would be selling China-developed electric vehicles (EVs) globally, as it entered into an agreement with China’s top university to leverage its resources to perform…
