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Found 66 results

  1. General Motors CEO Mary Barra spoke yesterday at the Barclays Global Automotive Conference in New York. During her talk, Barra said the company expects to make a profit off electric vehicles once they launch their next-generation EV platform. “We are working to provide desirable, obtainable and profitable vehicles that deliver a range of over 300 miles. There’s a lot of really creative things we’re doing to achieve that profitability point for that new platform,” Barra said to investors. The next-generation modular platform, due in 2021 will play a pivotal role in GM's plan to launch 20 all-new electric and hydrogen fuel cell vehicles by 2023. The platform will help drop the total per-unit cost by 30 percent or more. It will be used across a number of GM brands and various segments. GM is also working on a new battery system that will cut the per-kilowatt-hour from $145 to under $100 by 2021. Before these two launches, GM will be introducing four new EV and hydrogen vehicles. Two of those will be launch by April 2019 according to a GM spokesman. At least two vehicles will be small crossovers according to Automotive News. It is expected the electric models will use the underpinnings of the Chevrolet Bolt. The company has a set a goal of a million electric vehicles by 2026 - with most happening in China due to their strict production quotas for EVs. Source: Automotive News (Subscription Required), Reuters View full article
  2. General Motors CEO Mary Barra spoke yesterday at the Barclays Global Automotive Conference in New York. During her talk, Barra said the company expects to make a profit off electric vehicles once they launch their next-generation EV platform. “We are working to provide desirable, obtainable and profitable vehicles that deliver a range of over 300 miles. There’s a lot of really creative things we’re doing to achieve that profitability point for that new platform,” Barra said to investors. The next-generation modular platform, due in 2021 will play a pivotal role in GM's plan to launch 20 all-new electric and hydrogen fuel cell vehicles by 2023. The platform will help drop the total per-unit cost by 30 percent or more. It will be used across a number of GM brands and various segments. GM is also working on a new battery system that will cut the per-kilowatt-hour from $145 to under $100 by 2021. Before these two launches, GM will be introducing four new EV and hydrogen vehicles. Two of those will be launch by April 2019 according to a GM spokesman. At least two vehicles will be small crossovers according to Automotive News. It is expected the electric models will use the underpinnings of the Chevrolet Bolt. The company has a set a goal of a million electric vehicles by 2026 - with most happening in China due to their strict production quotas for EVs. Source: Automotive News (Subscription Required), Reuters
  3. Ford has announced a new joint venture with Chinese automaker Zotye on affordable electric vehicles for the Chinese market. Named Zotye Ford Automobile, the venture will see the two automakers develop and manufacture electric vehicles for a new brand. Ford and Zotye will be investing a total of 5 billion RMB (about $756 million) on this venture. Part of that investment will go towards a new manufacturing plant in the Zhejiang Province. The two automakers will also work on mobility solutions. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," said Peter Fleet, Ford group vice president and president of the Asia Pacific region. Zoyte knows a thing or two about selling EVs in China. The company has sold 22,500 small EVs within the first 10 months of the year. Zoyte is also very infamous for building the T700 which is a copy of the Porsche Macan crossover. Source: Ford Press Release is on Page 2 FORD AND ZOTYE SIGN DEFINITIVE JV AGREEMENT IN CHINA TO MEET GROWING DEMAND FOR ALL-ELECTRIC VEHICLES Ford and Zotye signed a definitive joint venture agreement to establish Zotye Ford Automobile Co. Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable electric vehicles for consumers in China Pending regulatory approval, the new JV will develop and manufacture all-electric vehicles under a new Chinese brand Zotye Ford also plans to build a new manufacturing plant in Zhejiang Province. A new dedicated sales and service network also will be established Ford and Zotye also will explore the opportunity to offer new mobility services in China to help provide solutions for emerging transportation challenges Beijing, Nov. 8, 2017 -- Ford Motor Company and Zotye today reached a definitive agreement to establish Zotye Ford Automobile Co., Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand. The agreement was signed in Beijing today by Peter Fleet, Ford group vice president and president, Ford Asia Pacific, and Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto. Pending regulatory approval, the new JV will design, build, market and distribute all-electric passenger vehicles for China, the world’s leading electric vehicle market. The establishment of the JV is a key step by Ford towards realizing its vision of a cleaner, more environmentally-sustainable future. The new JV will leverage a combined investment of 5 billion RMB (approximately U.S. $756 million). The new JV builds upon Ford’s ambitious China electrification strategy. Ford announced earlier this year that at least 70 percent of Ford-branded vehicles sold in the country will offer electrified powertrain options by 2025. Zotye Ford plans to build a dedicated product research and development center as well as its own sales and services network. A new manufacturing plant for the JV will be constructed in Zhejiang Province. The all-electric vehicles produced by the JV will be sold under a new Chinese brand designed to meet Chinese consumers’ aspirations for electric vehicles. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," Fleet said. "We will be exploring innovative vehicle connectivity and mobility service solutions for a new generation of young city-dwelling Chinese customers." In addition to the new JV, Ford and Zotye will explore offering mobility services to consumers in China as local demand for such solutions continues to grow. Through this new JV, Ford commits to actively support the advancement of a more environmentally sustainable auto industry in China through local research and development as well as domestic production of all-electric vehicles. Zotye Auto is a pioneer in the Chinese all-electric vehicle segment. It is the market leader in China’s all-electric small vehicle segment and sold more than 22,500 all-electric vehicles year-to-date through October, representing a growth of over 14 percent year-over-year. The JV will benefit from Zotye’s expertise in designing and commercializing EVs in China, and Ford’s global product development and technology capabilities. “This is an important day for Zotye as we partner with Ford to help advance the growth of the Chinese auto industry,” said Zotye’s Ying. “We will work closely together to help meet Chinese consumers’ growing demand for electric vehicles.” Upon its establishment, the new JV will expand Ford’s footprint in China. Ford already operates successful vehicle joint ventures with Changan Ford Automobile Corporation, Ltd. and Jiangling Motors Corporation. Ford will continue working closely with its JV partners to develop and manufacture New Energy Vehicles to meet rising consumer demand in China during the impending electrification phase of the Chinese auto industry. View full article
  4. Ford has announced a new joint venture with Chinese automaker Zotye on affordable electric vehicles for the Chinese market. Named Zotye Ford Automobile, the venture will see the two automakers develop and manufacture electric vehicles for a new brand. Ford and Zotye will be investing a total of 5 billion RMB (about $756 million) on this venture. Part of that investment will go towards a new manufacturing plant in the Zhejiang Province. The two automakers will also work on mobility solutions. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," said Peter Fleet, Ford group vice president and president of the Asia Pacific region. Zoyte knows a thing or two about selling EVs in China. The company has sold 22,500 small EVs within the first 10 months of the year. Zoyte is also very infamous for building the T700 which is a copy of the Porsche Macan crossover. Source: Ford Press Release is on Page 2 FORD AND ZOTYE SIGN DEFINITIVE JV AGREEMENT IN CHINA TO MEET GROWING DEMAND FOR ALL-ELECTRIC VEHICLES Ford and Zotye signed a definitive joint venture agreement to establish Zotye Ford Automobile Co. Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable electric vehicles for consumers in China Pending regulatory approval, the new JV will develop and manufacture all-electric vehicles under a new Chinese brand Zotye Ford also plans to build a new manufacturing plant in Zhejiang Province. A new dedicated sales and service network also will be established Ford and Zotye also will explore the opportunity to offer new mobility services in China to help provide solutions for emerging transportation challenges Beijing, Nov. 8, 2017 -- Ford Motor Company and Zotye today reached a definitive agreement to establish Zotye Ford Automobile Co., Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand. The agreement was signed in Beijing today by Peter Fleet, Ford group vice president and president, Ford Asia Pacific, and Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto. Pending regulatory approval, the new JV will design, build, market and distribute all-electric passenger vehicles for China, the world’s leading electric vehicle market. The establishment of the JV is a key step by Ford towards realizing its vision of a cleaner, more environmentally-sustainable future. The new JV will leverage a combined investment of 5 billion RMB (approximately U.S. $756 million). The new JV builds upon Ford’s ambitious China electrification strategy. Ford announced earlier this year that at least 70 percent of Ford-branded vehicles sold in the country will offer electrified powertrain options by 2025. Zotye Ford plans to build a dedicated product research and development center as well as its own sales and services network. A new manufacturing plant for the JV will be constructed in Zhejiang Province. The all-electric vehicles produced by the JV will be sold under a new Chinese brand designed to meet Chinese consumers’ aspirations for electric vehicles. “We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," Fleet said. "We will be exploring innovative vehicle connectivity and mobility service solutions for a new generation of young city-dwelling Chinese customers." In addition to the new JV, Ford and Zotye will explore offering mobility services to consumers in China as local demand for such solutions continues to grow. Through this new JV, Ford commits to actively support the advancement of a more environmentally sustainable auto industry in China through local research and development as well as domestic production of all-electric vehicles. Zotye Auto is a pioneer in the Chinese all-electric vehicle segment. It is the market leader in China’s all-electric small vehicle segment and sold more than 22,500 all-electric vehicles year-to-date through October, representing a growth of over 14 percent year-over-year. The JV will benefit from Zotye’s expertise in designing and commercializing EVs in China, and Ford’s global product development and technology capabilities. “This is an important day for Zotye as we partner with Ford to help advance the growth of the Chinese auto industry,” said Zotye’s Ying. “We will work closely together to help meet Chinese consumers’ growing demand for electric vehicles.” Upon its establishment, the new JV will expand Ford’s footprint in China. Ford already operates successful vehicle joint ventures with Changan Ford Automobile Corporation, Ltd. and Jiangling Motors Corporation. Ford will continue working closely with its JV partners to develop and manufacture New Energy Vehicles to meet rising consumer demand in China during the impending electrification phase of the Chinese auto industry.
  5. One key selling point automakers have been using to move electric vehicles is the federal tax credit of up to $7,500. But a new tax cut bill being proposed by House Republicans could eliminate that credit. The bill announced today includes a provision of eliminating the credit after the 2017 tax year if the bill goes into law. The credits are important as it helps level the playing field between internal combustion engines and EVs. Currently, the credit will begin to phase out once an auto manufacturer once it sells 200,000 EVs or plug-in hybrids. Bloomberg reports that Tesla would be the first automaker to reach the limit, followed by GM and Nissan. If that tax credit is eliminated, automakers worry they would experience a plunge in sales. “The credits matter a lot. In states without EV mandates or incentives, you’ll see sales crater,” said Eric Noble, president of the CarLab. Bloomberg cites the example of Georgia which cut its $5,000 electric vehicle tax credit back in 2015. Sales tumbled from 1,400 to just fewer than 100. Automakers are spending a lot of money and time in lobbying to make sure the credit is renewed partly due to new mandates being placed by California and a number of other states saying a certain percentage of new cars sold have to EVs. "The potential elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet," said Gloria Bergquist, a spokeswoman for the Alliance of Automobile Manufacturers, a trade group representing various automakers such as GM and Toyota. Source: Bloomberg, Reuters View full article
  6. One key selling point automakers have been using to move electric vehicles is the federal tax credit of up to $7,500. But a new tax cut bill being proposed by House Republicans could eliminate that credit. The bill announced today includes a provision of eliminating the credit after the 2017 tax year if the bill goes into law. The credits are important as it helps level the playing field between internal combustion engines and EVs. Currently, the credit will begin to phase out once an auto manufacturer once it sells 200,000 EVs or plug-in hybrids. Bloomberg reports that Tesla would be the first automaker to reach the limit, followed by GM and Nissan. If that tax credit is eliminated, automakers worry they would experience a plunge in sales. “The credits matter a lot. In states without EV mandates or incentives, you’ll see sales crater,” said Eric Noble, president of the CarLab. Bloomberg cites the example of Georgia which cut its $5,000 electric vehicle tax credit back in 2015. Sales tumbled from 1,400 to just fewer than 100. Automakers are spending a lot of money and time in lobbying to make sure the credit is renewed partly due to new mandates being placed by California and a number of other states saying a certain percentage of new cars sold have to EVs. "The potential elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet," said Gloria Bergquist, a spokeswoman for the Alliance of Automobile Manufacturers, a trade group representing various automakers such as GM and Toyota. Source: Bloomberg, Reuters
  7. Spying: Hyundai Kona EV Charges Up

    Hyundai has announced that the upcoming Kona crossover would be coming with an electric powertrain and we have gotten our first look at it. A spy photographer caught a Kona EV mule charging up. It looks like your standard Kona with the only difference that there is a charging door on the front. We're assuming this means a solid panel takes the place of the standard grille. Current rumors have Hyundai offering two battery options for the Kona EV - 40 and 64 kWh. The larger battery is projected to have a range of around 210 miles. Expect to see the Kona EV debut sometime next year with sales beginning in late 2018 or 2019. It is unclear whether or not the model will be sold here. Source: AutoGuide, Motor1
  8. Hyundai has announced that the upcoming Kona crossover would be coming with an electric powertrain and we have gotten our first look at it. A spy photographer caught a Kona EV mule charging up. It looks like your standard Kona with the only difference that there is a charging door on the front. We're assuming this means a solid panel takes the place of the standard grille. Current rumors have Hyundai offering two battery options for the Kona EV - 40 and 64 kWh. The larger battery is projected to have a range of around 210 miles. Expect to see the Kona EV debut sometime next year with sales beginning in late 2018 or 2019. It is unclear whether or not the model will be sold here. Source: AutoGuide, Motor1 View full article
  9. Rolls-Royce has made it clear that it plans on introducing electric powertrains to their vehicles in the future once the technology has fully developed and customers want one. But new regulations are forcing their hand. Rolls' CEO Torsten Müller-Ötvös told Car and Driver that the Phantom will receive the option of an electric powertrain sometime during its lifecycle. The platform that underpins the Phantom and future models have been built with electrification in mind. “We are more regulator driven than consumer driven. We might well see, in the next decade, some Asian markets closing down city centers to combustion engines completely. And then, of course, [electrification] is a must,” said Müller-Ötvös. Müller-Ötvös admitted that no one is clamoring for an electric Rolls at this time, but expects that situation to change in the next 10 years or so. Source: Car and Driver
  10. Rolls-Royce has made it clear that it plans on introducing electric powertrains to their vehicles in the future once the technology has fully developed and customers want one. But new regulations are forcing their hand. Rolls' CEO Torsten Müller-Ötvös told Car and Driver that the Phantom will receive the option of an electric powertrain sometime during its lifecycle. The platform that underpins the Phantom and future models have been built with electrification in mind. “We are more regulator driven than consumer driven. We might well see, in the next decade, some Asian markets closing down city centers to combustion engines completely. And then, of course, [electrification] is a must,” said Müller-Ötvös. Müller-Ötvös admitted that no one is clamoring for an electric Rolls at this time, but expects that situation to change in the next 10 years or so. Source: Car and Driver View full article
  11. FCA CEO Still Thinks Electric Cars Are Not Viable

    If there is one thing the Fiat Chrysler CEO Sergio Marchionne has been consistent on aside from changing his mind on a number of things is his dislike on electric vehicles. Speaking to reporters this week at the New York Stock Exchange, Marchionne said there isn't a viable economic model for electric cars. "We still don't have a viable economic model for delivering an electric car. As much as I like Elon Musk, and he's a good friend and actually he's done a phenomenal job of marketing Telsa, I remain unconvinced of a ... economic viability of the model that he's pitching," said Marchionne. Marchionne believes the costs for batteries and the various technologies need to come down to make them viable. Otherwise, automakers should focus on developing hybrid and plug-in hybrid powertrains. "So how do we find a convergence of technology bringing prices of components down and allows us to price accordingly — or we need to navigate through this process in a combined way between combustion and electrification to yield at least a minimum of economic returns that allows for our continuity? The last thing you want is me to be successful selling cars for 24 months and then go bust. That's not a good story. Especially in a place like this which rewards economic success. Let's not sit here and design our own future in the tank. Let's try and do it properly. We will do all the right things. We are investing without making a lot of noise on electrification. We will combine it with combustion to yield the right level of CO2. But we're not betting the bank on going fully electric in the next decade. It won't happen," said Marchionne. Source: The Street
  12. If there is one thing the Fiat Chrysler CEO Sergio Marchionne has been consistent on aside from changing his mind on a number of things is his dislike on electric vehicles. Speaking to reporters this week at the New York Stock Exchange, Marchionne said there isn't a viable economic model for electric cars. "We still don't have a viable economic model for delivering an electric car. As much as I like Elon Musk, and he's a good friend and actually he's done a phenomenal job of marketing Telsa, I remain unconvinced of a ... economic viability of the model that he's pitching," said Marchionne. Marchionne believes the costs for batteries and the various technologies need to come down to make them viable. Otherwise, automakers should focus on developing hybrid and plug-in hybrid powertrains. "So how do we find a convergence of technology bringing prices of components down and allows us to price accordingly — or we need to navigate through this process in a combined way between combustion and electrification to yield at least a minimum of economic returns that allows for our continuity? The last thing you want is me to be successful selling cars for 24 months and then go bust. That's not a good story. Especially in a place like this which rewards economic success. Let's not sit here and design our own future in the tank. Let's try and do it properly. We will do all the right things. We are investing without making a lot of noise on electrification. We will combine it with combustion to yield the right level of CO2. But we're not betting the bank on going fully electric in the next decade. It won't happen," said Marchionne. Source: The Street View full article
  13. General Motors is the latest automaker that is preparing for an emissions-free future. Today at GM's technical center in Warren, MI, the company announced plans to introduce 20 electric and hydrogen vehicles by 2023. The first two models of this plan will launch in the next 18 months and will be "based off learnings" from the Chevrolet Bolt. “General Motors believes in an all-electric future. Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain in a statement. Those who were at the technical center got a preview of three clay models featuring the next-generation electric powertrain - a Buick crossover (Encore replacement?), Cadillac wagon, and a pod-looking vehicle. GM is also working on building out vehicles using hydrogen powertrains. "General Motors believes in an all-electric future... Our electric solution cannot be 'one size fits all.' We believe you need two different flavors of electrification — battery electric and fuel cell electric." GM showed off SURUS (Silent Utility Rover Universal Superstructure) which takes the idea of the skateboard hydrogen chassis from the Hy-Wire concept and makes it quite larger - about the size of a commercial truck chassis. Source: Automotive News (Subscription Required), Green Car Reports , Roadshow, GM Press Release is on Page 2 GM Outlines All-Electric Path to Zero Emissions DETROIT — General Motors announced today how it is executing on a major element of its vision of a world with zero crashes, zero emissions and zero congestion, recently announced by GM Chairman and CEO Mary Barra. “General Motors believes in an all-electric future,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain. “Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs.” In the next 18 months, GM will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV. They will be the first of at least 20 new all-electric vehicles that will launch by 2023. Given customers' various needs, getting to a zero emissions future will require more than just battery electric technology. It will require a two-pronged approach to electrification — battery electric and hydrogen fuel cell electric depending on the unique requirements. GM also introduced SURUS — the Silent Utility Rover Universal Superstructure — a fuel cell powered, four-wheel steer concept vehicle on a heavy-duty truck frame that’s driven by two electric motors. With its capability and flexible architecture, SURUS could be used as a delivery vehicle, truck or even an ambulance — all emissions free.
  14. General Motors is the latest automaker that is preparing for an emissions-free future. Today at GM's technical center in Warren, MI, the company announced plans to introduce 20 electric and hydrogen vehicles by 2023. The first two models of this plan will launch in the next 18 months and will be "based off learnings" from the Chevrolet Bolt. “General Motors believes in an all-electric future. Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain in a statement. Those who were at the technical center got a preview of three clay models featuring the next-generation electric powertrain - a Buick crossover (Encore replacement?), Cadillac wagon, and a pod-looking vehicle. GM is also working on building out vehicles using hydrogen powertrains. "General Motors believes in an all-electric future... Our electric solution cannot be 'one size fits all.' We believe you need two different flavors of electrification — battery electric and fuel cell electric." GM showed off SURUS (Silent Utility Rover Universal Superstructure) which takes the idea of the skateboard hydrogen chassis from the Hy-Wire concept and makes it quite larger - about the size of a commercial truck chassis. Source: Automotive News (Subscription Required), Green Car Reports , Roadshow, GM Press Release is on Page 2 GM Outlines All-Electric Path to Zero Emissions DETROIT — General Motors announced today how it is executing on a major element of its vision of a world with zero crashes, zero emissions and zero congestion, recently announced by GM Chairman and CEO Mary Barra. “General Motors believes in an all-electric future,” said Mark Reuss, General Motors executive vice president of Product Development, Purchasing and Supply Chain. “Although that future won't happen overnight, GM is committed to driving increased usage and acceptance of electric vehicles through no-compromise solutions that meet our customers' needs.” In the next 18 months, GM will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV. They will be the first of at least 20 new all-electric vehicles that will launch by 2023. Given customers' various needs, getting to a zero emissions future will require more than just battery electric technology. It will require a two-pronged approach to electrification — battery electric and hydrogen fuel cell electric depending on the unique requirements. GM also introduced SURUS — the Silent Utility Rover Universal Superstructure — a fuel cell powered, four-wheel steer concept vehicle on a heavy-duty truck frame that’s driven by two electric motors. With its capability and flexible architecture, SURUS could be used as a delivery vehicle, truck or even an ambulance — all emissions free. View full article
  15. There are more expenses to owning a new car aside from making a monthly payment. You have gas, maintenance, repairs, and depreciation to worry about. The total cost according to a new study from AAA will depend on the type of vehicle you're driving. AAA's Your Driving Costs study reports that average cost to own and operate a new vehicle in 2017 is $8,469 per year - $706 per month. The study looked at 45 new vehicles from the 2017 model year and evaluated the various costs such as gas and maintenance, but not insurance and monthly payment. When broken down into individual segments, small sedans are the cheapest ($6,354 annually) and trucks are the most expensive ($10,054). This year's Your Driving Costs study saw hybrid and electric vehicles being separated for the first time. EV's are just under the average with an annual cost of $8,439, But EVs have horrendous depreciation - losing $5,704 on average per year. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run. For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle,” said John Nielsen, AAA’s managing director of Automotive Engineering and Repair in a statement. Source: AAA Press Release is on Page 2 AAA Reveals True Cost of Vehicle Ownership Average new vehicle will cost nearly $8,500 annually to own and operate Owning and operating a new vehicle in 2017 will cost a driver an average of $8,469 annually, or $706 each month, according to a new study from AAA. The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to U.S. drivers. Conversely, of the nine categories included in the evaluation, pickup trucks are the most expensive vehicles to drive at $10,054 annually. “Determining the cost of a new vehicle car is more than calculating a monthly payment,” cautioned John Nielsen, AAA’s managing director of Automotive Engineering and Repair. “While sales price is certainly a factor, depreciation, maintenance, repair and fuel costs should be equally important considerations for anyone in the market for a new vehicle.” In addition to analyzing the ownership costs for sedans, SUVs and minivans, AAA’s Your Driving Costs study added four new vehicle segments in 2017 – small SUVs, pickup trucks, hybrids and electric vehicles. Vehicle Type Annual Cost* Small Sedan: $6,354 Small SUV: $7,606 Hybrid: $7,687 Medium Sedan: $8,171 Electric Vehicle: $8,439 Large Sedan: $9,399 Medium SUV: $9,451 Pickup Truck: $10,054 Average: $8,469 *Based on 15,000 miles driven annually To estimate the overall cost to own and operate a new vehicle, AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. AAA’s annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types. Key findings include: Depreciation Depreciation — the declining value of a vehicle over time — is the biggest, and most often overlooked, expense associated with purchasing a new car. New vehicles lose an average of $15,000 in value during the first five years of ownership. In 2017, small sedans ($2,114) and small SUVs ($2,840) have the lowest annual depreciation costs, while minivans ($3,839) and electric vehicles ($5,704) are at the high end of the scale. Maintenance and repair To calculate annual maintenance and repair costs, AAA examined factory-recommended maintenance, replacement tires, extended warranty costs and services associated with typical wear-and-tear. New vehicles, on average, will cost a driver $1,186 per year to maintain and repair. The inevitable costs associated with maintenance and repair should be an important consideration for car shoppers, as a recent AAA survey found that one-third of U.S. drivers could not afford an unexpected repair bill. AAA Approved Auto Repair facilities offer free vehicle inspections, AAA member discounts and a 24-month/24,000-mile warranty for AAA members. Visit AAA.com/AutoRepair to find a nearby facility. Fuel Fuel costs vary significantly by vehicle type, ranging from 3.68 cents per mile (electric vehicles) to 13.88 cents per mile (pickup trucks). New vehicle owners, on average, will spend just over 10 cents per mile – about $1,500 annually — to fuel their vehicles. For gasoline-powered vehicles, AAA recommends selecting a TOP TIER gasoline, as its independent research found it to keep engines 19 times cleaner, improving vehicle performance and fuel economy. AAA cautions drivers that using premium-grade gasoline in a vehicle that does not specifically require it is an unnecessary expense. Electric Vehicles New to the Your Driving Costs study in 2017, AAA found that electric vehicles have lower-than-average driving costs at $8,439 per year. Without a gasoline engine to maintain, electric vehicles have the lowest annual maintenance and repair costs, at $982 per year. By relying on electricity instead of gasoline, fuel costs are also significantly lower than average, at under four cents per mile. Depreciation, however, is currently extremely high for these vehicles, losing an average of nearly $6,000 in value every year. A recent AAA survey revealed that 1-in-6 Americans are likely to choose an electric vehicle, the majority motivated by their lower long-term ownership costs. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run,” said Nielsen. “For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle.” View full article
  16. There are more expenses to owning a new car aside from making a monthly payment. You have gas, maintenance, repairs, and depreciation to worry about. The total cost according to a new study from AAA will depend on the type of vehicle you're driving. AAA's Your Driving Costs study reports that average cost to own and operate a new vehicle in 2017 is $8,469 per year - $706 per month. The study looked at 45 new vehicles from the 2017 model year and evaluated the various costs such as gas and maintenance, but not insurance and monthly payment. When broken down into individual segments, small sedans are the cheapest ($6,354 annually) and trucks are the most expensive ($10,054). This year's Your Driving Costs study saw hybrid and electric vehicles being separated for the first time. EV's are just under the average with an annual cost of $8,439, But EVs have horrendous depreciation - losing $5,704 on average per year. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run. For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle,” said John Nielsen, AAA’s managing director of Automotive Engineering and Repair in a statement. Source: AAA Press Release is on Page 2 AAA Reveals True Cost of Vehicle Ownership Average new vehicle will cost nearly $8,500 annually to own and operate Owning and operating a new vehicle in 2017 will cost a driver an average of $8,469 annually, or $706 each month, according to a new study from AAA. The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to U.S. drivers. Conversely, of the nine categories included in the evaluation, pickup trucks are the most expensive vehicles to drive at $10,054 annually. “Determining the cost of a new vehicle car is more than calculating a monthly payment,” cautioned John Nielsen, AAA’s managing director of Automotive Engineering and Repair. “While sales price is certainly a factor, depreciation, maintenance, repair and fuel costs should be equally important considerations for anyone in the market for a new vehicle.” In addition to analyzing the ownership costs for sedans, SUVs and minivans, AAA’s Your Driving Costs study added four new vehicle segments in 2017 – small SUVs, pickup trucks, hybrids and electric vehicles. Vehicle Type Annual Cost* Small Sedan: $6,354 Small SUV: $7,606 Hybrid: $7,687 Medium Sedan: $8,171 Electric Vehicle: $8,439 Large Sedan: $9,399 Medium SUV: $9,451 Pickup Truck: $10,054 Average: $8,469 *Based on 15,000 miles driven annually To estimate the overall cost to own and operate a new vehicle, AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. AAA’s annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types. Key findings include: Depreciation Depreciation — the declining value of a vehicle over time — is the biggest, and most often overlooked, expense associated with purchasing a new car. New vehicles lose an average of $15,000 in value during the first five years of ownership. In 2017, small sedans ($2,114) and small SUVs ($2,840) have the lowest annual depreciation costs, while minivans ($3,839) and electric vehicles ($5,704) are at the high end of the scale. Maintenance and repair To calculate annual maintenance and repair costs, AAA examined factory-recommended maintenance, replacement tires, extended warranty costs and services associated with typical wear-and-tear. New vehicles, on average, will cost a driver $1,186 per year to maintain and repair. The inevitable costs associated with maintenance and repair should be an important consideration for car shoppers, as a recent AAA survey found that one-third of U.S. drivers could not afford an unexpected repair bill. AAA Approved Auto Repair facilities offer free vehicle inspections, AAA member discounts and a 24-month/24,000-mile warranty for AAA members. Visit AAA.com/AutoRepair to find a nearby facility. Fuel Fuel costs vary significantly by vehicle type, ranging from 3.68 cents per mile (electric vehicles) to 13.88 cents per mile (pickup trucks). New vehicle owners, on average, will spend just over 10 cents per mile – about $1,500 annually — to fuel their vehicles. For gasoline-powered vehicles, AAA recommends selecting a TOP TIER gasoline, as its independent research found it to keep engines 19 times cleaner, improving vehicle performance and fuel economy. AAA cautions drivers that using premium-grade gasoline in a vehicle that does not specifically require it is an unnecessary expense. Electric Vehicles New to the Your Driving Costs study in 2017, AAA found that electric vehicles have lower-than-average driving costs at $8,439 per year. Without a gasoline engine to maintain, electric vehicles have the lowest annual maintenance and repair costs, at $982 per year. By relying on electricity instead of gasoline, fuel costs are also significantly lower than average, at under four cents per mile. Depreciation, however, is currently extremely high for these vehicles, losing an average of nearly $6,000 in value every year. A recent AAA survey revealed that 1-in-6 Americans are likely to choose an electric vehicle, the majority motivated by their lower long-term ownership costs. “Although electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run,” said Nielsen. “For even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle.”
  17. Hyundai Hops Aboard the EV Train

    Hyundai had a put a lot of confidence into hydrogen being the future power source for vehicles. But much like Toyota, the Korean automaker is realizing that electrics are the way of the future and they might want to jump on the bandwagon soon. Today at a press conference in Seoul, Hyundai announced that it would be placing electric vehicles front and center with plans to launch several long-range EVs in the coming years. This includes an electric version of the Kona early next year and an electric sedan for Genesis in 2021 that is expected to have a range of 310 miles. Hyundai also confirmed a report by Reuters saying the company is working on a dedicated EV platform. "We're strengthening our eco-friendly car strategy, centering on electric vehicles," said Hyundai Executive Vice President Lee Kwang-guk. Hyundai isn't fully giving up on hydrogen. The automaker showed a concept version of its new fuel cell SUV that will replace the Tucson Hydrogen. Hyundai says the model can go 360 miles on one tank of hydrogen. It will launch in Korea next year, with the U.S. and Europe following sometime after. Source: Reuters
  18. Hyundai had a put a lot of confidence into hydrogen being the future power source for vehicles. But much like Toyota, the Korean automaker is realizing that electrics are the way of the future and they might want to jump on the bandwagon soon. Today at a press conference in Seoul, Hyundai announced that it would be placing electric vehicles front and center with plans to launch several long-range EVs in the coming years. This includes an electric version of the Kona early next year and an electric sedan for Genesis in 2021 that is expected to have a range of 310 miles. Hyundai also confirmed a report by Reuters saying the company is working on a dedicated EV platform. "We're strengthening our eco-friendly car strategy, centering on electric vehicles," said Hyundai Executive Vice President Lee Kwang-guk. Hyundai isn't fully giving up on hydrogen. The automaker showed a concept version of its new fuel cell SUV that will replace the Tucson Hydrogen. Hyundai says the model can go 360 miles on one tank of hydrogen. It will launch in Korea next year, with the U.S. and Europe following sometime after. Source: Reuters View full article
  19. Earlier this year, Smart announced that it would be ending sales of the gas models and switch over to selling electric only models. This announcement has many Smart dealers running for the exit. According to Automotive News, dealers had until the end June to make a decision whether to keep selling Smarts or move to a service-only operation. Out of the 85 dealers in the U.S., 58 (about two-thirds) would move to the service-only operation. Smart spokeswoman Donna Boland said these numbers are preliminary. Dealers that opt out of selling Smart will transition to service once they sell out of inventory. The 'vast majority' are expected to transition by the end of this year. The remaining 27 dealers are in areas with zero-emission vehicle mandates that will give the brand "the highest market penetration potential," Boland said. Such areas include San Francisco, New York, and Los Angeles. As Automotive News points out, Smart's 27 dealers will make it one of the smallest dealership networks in the U.S. The likes of Lamborghini and Lotus have larger dealer networks at 31 and 41 respectively. Source: Automotive News (Subscription Required) View full article
  20. Smart's Dealer Network Will Shrink By Two-Thirds

    Earlier this year, Smart announced that it would be ending sales of the gas models and switch over to selling electric only models. This announcement has many Smart dealers running for the exit. According to Automotive News, dealers had until the end June to make a decision whether to keep selling Smarts or move to a service-only operation. Out of the 85 dealers in the U.S., 58 (about two-thirds) would move to the service-only operation. Smart spokeswoman Donna Boland said these numbers are preliminary. Dealers that opt out of selling Smart will transition to service once they sell out of inventory. The 'vast majority' are expected to transition by the end of this year. The remaining 27 dealers are in areas with zero-emission vehicle mandates that will give the brand "the highest market penetration potential," Boland said. Such areas include San Francisco, New York, and Los Angeles. As Automotive News points out, Smart's 27 dealers will make it one of the smallest dealership networks in the U.S. The likes of Lamborghini and Lotus have larger dealer networks at 31 and 41 respectively. Source: Automotive News (Subscription Required)
  21. It may seem the internal combustion engine is on the last ropes as various automakers begin to put more efforts into electric vehicles and countries announcing bans on the sale of vehicles with these engines. But Mazda isn't willing to give it up with a fight. Robert Davis, Mazda North America Operations' senior vice president for special assignments told attendees at CAR Management Briefing Seminars in Traverse City, Michigan this week that the “impending death of the internal combustion engine is overrated.” “We certainly considered the adoption of new technologies, like battery electric vehicles, plug-ins, hybrids and the like Before we go to the time, effort and expense of adding electrification, we are convinced that a solid, efficient internal-combustion engine base is critical. The foreseeable future will use the internal-combustion engine as its main motive source, so that’s where the bulk of our engineering focus has been placed," said Davis. “Get the internal-combustion engine right, and it makes the whole system that much more efficient when you layer in electric systems, such as idle-stop, high-power charging systems with regenerative braking and ultimately series or parallel hybrids.” Due to Mazda being a small automaker, they cannot extend their limited r&d resources into developing different powertrains such as electrics and hybrids. They're basically going with 'run what ya brung'. Davis was also critical of governments trying to mandate particular types of powertrains to meet standards. Instead, it should be the industry to find the best solution. “What we need as an industry is a target, and we need to be left to find the best, most customer-acceptable way to reach that," Davis explained. “Take the $7,500 EV credit off the table? At the same time, you take the EV mandate off the table. Let the government keep the $7,500 and let the industry find the best way to meet the clean air standard. Make it a (carbon-dioxide emissions) target, a grams-per-mile target, a fuel-economy number, whatever feels best. But don’t mandate that we have to sell a particular type of powertrain,” It needs to be noted that Mazda is working on an EV for certain markets that will be launched in the coming years, using tech from Toyota. Source: Automotive News (Subscription Required), Wards Auto
  22. It may seem the internal combustion engine is on the last ropes as various automakers begin to put more efforts into electric vehicles and countries announcing bans on the sale of vehicles with these engines. But Mazda isn't willing to give it up with a fight. Robert Davis, Mazda North America Operations' senior vice president for special assignments told attendees at CAR Management Briefing Seminars in Traverse City, Michigan this week that the “impending death of the internal combustion engine is overrated.” “We certainly considered the adoption of new technologies, like battery electric vehicles, plug-ins, hybrids and the like Before we go to the time, effort and expense of adding electrification, we are convinced that a solid, efficient internal-combustion engine base is critical. The foreseeable future will use the internal-combustion engine as its main motive source, so that’s where the bulk of our engineering focus has been placed," said Davis. “Get the internal-combustion engine right, and it makes the whole system that much more efficient when you layer in electric systems, such as idle-stop, high-power charging systems with regenerative braking and ultimately series or parallel hybrids.” Due to Mazda being a small automaker, they cannot extend their limited r&d resources into developing different powertrains such as electrics and hybrids. They're basically going with 'run what ya brung'. Davis was also critical of governments trying to mandate particular types of powertrains to meet standards. Instead, it should be the industry to find the best solution. “What we need as an industry is a target, and we need to be left to find the best, most customer-acceptable way to reach that," Davis explained. “Take the $7,500 EV credit off the table? At the same time, you take the EV mandate off the table. Let the government keep the $7,500 and let the industry find the best way to meet the clean air standard. Make it a (carbon-dioxide emissions) target, a grams-per-mile target, a fuel-economy number, whatever feels best. But don’t mandate that we have to sell a particular type of powertrain,” It needs to be noted that Mazda is working on an EV for certain markets that will be launched in the coming years, using tech from Toyota. Source: Automotive News (Subscription Required), Wards Auto View full article
  23. Fiat Chrysler Automobiles' CEO Sergio Marchionne made a surprise announcement during the company's second-quarter earnings calls last week. The company is planning to have more than half of its lineup to have electrified powertrains by 2022. Leading the charge will be Maserati which will offer some sort of electrified powertrain (hybrid and electric-only). What caused Marchionne, a person who hasn't been a fan of electric vehicles for quite a while, to change his tune? A lot of it has to do the various emission scandals on diesel vehicles. "What has really made the issue absolutely mandatory now is the fate of diesel … especially in Europe. Some type of electrification on gas engines is inevitable," said Marchionne. Also, the announcement of some European countries announcing bans of gas and diesel vehicles in the coming years caused a change of heart for FCA. “We [FCA] have been reluctant to embrace that avenue until we saw clearer the path forward," said Marchionne. There are issues for FCA's electrified future as the variable production costs for various components (batteries, electric motors, etc) will not come down quickly. To shoulder these costs, Maserati will take the lead on this initiative. "When it completes the development of its next two models, it will effectively switch all of its portfolio to electrification," said Marchionne. "It's an integral part of the development of all of the group." Source: Automotive News (Subscription Required), Autocar View full article
  24. Fiat Chrysler Automobiles' CEO Sergio Marchionne made a surprise announcement during the company's second-quarter earnings calls last week. The company is planning to have more than half of its lineup to have electrified powertrains by 2022. Leading the charge will be Maserati which will offer some sort of electrified powertrain (hybrid and electric-only). What caused Marchionne, a person who hasn't been a fan of electric vehicles for quite a while, to change his tune? A lot of it has to do the various emission scandals on diesel vehicles. "What has really made the issue absolutely mandatory now is the fate of diesel … especially in Europe. Some type of electrification on gas engines is inevitable," said Marchionne. Also, the announcement of some European countries announcing bans of gas and diesel vehicles in the coming years caused a change of heart for FCA. “We [FCA] have been reluctant to embrace that avenue until we saw clearer the path forward," said Marchionne. There are issues for FCA's electrified future as the variable production costs for various components (batteries, electric motors, etc) will not come down quickly. To shoulder these costs, Maserati will take the lead on this initiative. "When it completes the development of its next two models, it will effectively switch all of its portfolio to electrification," said Marchionne. "It's an integral part of the development of all of the group." Source: Automotive News (Subscription Required), Autocar
  25. Rolls-Royce isn't planning to do a hybrid powertrain for any of their models anytime soon. Speaking with Autocar, CEO Torsten Müller-Otvös said customers would not accept the “compromise” of hybrid technology. “The Rolls-Royce brand is not, in a way, a game-changer when it comes to revolutionary technology. Our customers are doing so for reasons of utmost luxury, so there can be no imperfections. Compromises when it comes to technology, or operating our products, are unacceptable. People are more interested in highly reliably substance than to be a test field for new technology.” Instead, Rolls will focus on electric powertrains. “Electrification is the way forward – and there will be no in between steps for us like hybridisation. It is the propulsion system for the future, make no error. There is a time - nobody can predict when - when there will be no combustion engines. That will take a long, long time, but it will happen,” said Müller-Otvös. But don't expect it to come anytime soon. Müller-Otvös said the automaker would launch an electric powertrain when the technology has fully developed. Source: Autocar

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