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GlobalData blog: Will US Battery Electric Vehicle sales stagnate in 2024?
Recapping last year’s Battery Electric Vehicle (BEV) market performance, 2023 BEV Light Vehicle sales exceeded 1.2 million units – the first year to surpass the million-unit mark – and closed with a 7.7% market share. Tesla made up half the volume after setting an aggressive sales growth target supported by multiple
Honda Prologue EV qualifies for full USD 7,500 U.S. EV tax credit upon launch
On March 7, Honda announced that most all-new 2024 Honda Prologue models will qualify for the U.S. USD 7,500 EV tax credit.
The federal tax credit applies to purchases of all 2024 Prologues built at GM’s Ramos Arizpe plant after February 26, 2024, and all 2024 Prologues that are leased.
The Prologue arrives at Honda
GlobalData blog: Chinese light vehicle sales in Thailand increased dramatically in 2023, but questions remain in the long-term
Despite Thailand Light Vehicle (LV) sales falling by 9% YoY in 2023, Chinese automakers’ sales rocketed by 104% YoY (this is not a typo, they really rose by over 100%!) Also, Chinese brands’ market share of the Thai LV market jumped from 5% of the total in 2022 to 11% in 2023.
This outstanding Chinese sales performan
Element 2 and Riversimple partner on hydrogen refueling infrastructure in UK
On March 4, Element 2 announced a partnership with hydrogen car manufacturer Riversimple for Hydrogen refueling infrastructure. All Element 2 stations will provide refueling for passenger cars as well as HGVs and commit the two companies to work hand in hand in terms of choice of locations to maximize the commercial
Flash Report: Honda's operating income for the April-December quarter of 2023 increased by 46.7% to JPY 1,076.4 billion
Honda's FY2023 third quarter financial results were announced.
Revenue increased 19.8% YoY to JPY 14,999.5 billion. This was a JPY 2,476.0 billion increase over the previous year's JPY 12,523.5 billion.
Operating income increased 46.7% YoY to JPY 1,076.4 billion. This was an increase of JPY 342.4 billion over the p
Honda recalls 750,114 vehicles in U.S. for airbag sensor weights
On February 5, American Honda Motor Co. acknowledged that it is recalling certain 750,114 2020 through 2022 model year vehicles in the U.S. due to the airbag sensor issue.
Affected vehicles include the 2020-2022 Pilot, Accord, Civic sedan, HR-V, Odyssey; 2020 Civic coupe, Fit; 2021-2022 Civic hatchback; 2021 Civic Ty
LG Energy Solution posts annual growth with U.S. expansion, tax credits
On January 26, LG Energy Solution (LGES) announced its 2023 full-year earnings, posting steady increase in both annual consolidated revenue and operating profit, marking the company's first year of full-fledged operation in North America.
For full-year 2023, LGES reported KRW 33.7 trillion in consolidated revenue and
Thai PM’s Japan trip in 2023 to encourage more EV investment considered success, Honda Thailand says
Reported on January 6, 2024, Honda Automobile Thailand was among the representatives of 7 Japanese vehicle manufacturers in Thailand that joined the Thai Prime Minister Srettha’s Japan trip in December 2023. Honda has mentioned a successful effort of the Thai government to attract the Japanese investors to join the E
Honda recalling 2.5 million vehicles in U.S. over fuel pump issue
On December 21, American Honda announced it is recalling 2,539,902 vehicles in the U.S. due to a fuel pump defect that can increase risks of engine failure or stalling while driving.
According to the U.S. National Highway Traffic Safety Administration (NHTSA), the fuel pump impeller used in the vehicles was improperl
Honda introduces facelifted FIT Hybrid in South Africa
On December 6, Honda introduced the upgraded FIT Hybrid facelift model with enhanced specification levels and increased dynamic performance in South Africa. The vehicle is priced at ZAR 544,900.
The vehicle comes with a 10kW increase in maximum power output, delivering 90kW of power and 253 Nm of electric propulsion
UAW begins membership campaign by targeting non-union OEMs in U.S.
On November 29, the United Auto Workers said its new organizing campaign seeks to double its auto industry membership by targeting more than a dozen non-union OEMs with nearly 150,000 autoworkers.
The UAW currently has 146,000 members at the Detroit Three and close to 400,000 active members overall.
The union urges
Honda to accelerates electrification of motorcycles, 30 electric models to be introduced by 2030
On November 29, Honda held a press briefing on electric motorcycle business initiatives.
Honda revised its 2030 electric motorcycle annual sales target to 4 million units, up 500,000 units from what it announced last September, accelerating its initiatives to build a full lineup of electric models by taking a proacti
China Passenger Car Association analysis of production and sales volumes for October 2023
The China Passenger Car Association (CPCA) announced the production and sales volumes of passenger cars (including sedans, SUVs, and MPVs, excluding minivans) for October 2023.
China passenger car production and sales volumes in October 2023
Retail
October retail sales volumes of passenger cars totaled 2.033 million
Flash Report: Honda's operating income for the April-September quarter of 2023 increased by 53.6% to JPY 696.6 billion
Honda's FY2023 second quarter financial results were announced.
Revenue increased 18.9% YoY to JPY 9,609.4 billion. This was a JPY 1,524.1 billion increase over the previous year's JPY 8,085.3 billion.
Operating income increased 53.6% YoY to JPY 696.6 billion. This was an increase of JPY 243.1 billion over the prev
Honda, GM cancel plans to co-develop smaller EVs
On October 25, General Motors and Honda Motor confirmed they are cancelling plans announced last year to develop a series of "affordable" EVs slated for introduction in 2027 together based on a new global architecture using GM's next-generation Ultium battery technology.
"After extensive studies and analysis, we have