GlobalData blog: Xiaomi SU7, a game changer in the Chinese auto market Xiaomi Automobile gained market prominence with the launch of its first New Energy Vehicle (NEV), the Xiaomi SU7, in 2023. Since the onset of the pandemic in 2020, the competition within the Chinese automotive market has intensified exponentially each year. The price wars of the past two years have further escalated the intensity of rivalry. Amidst this backdrop, a new entrant...

News  Updated at: 2024/12/17

GlobalData blog: US BEV winners and losers in H1 2024 As Tesla sales stagnate in the first half of 2024, other OEMs have taken advantage The US electrified vehicle market has transformed since the Tesla Model 3 launch in 2017. The explosive growth over the past six years led legacy automakers to invest billions in engineering Electric Vehicles to compete with Tesla’s offerings. Fast forward to today, and compelling models are being launched by ...

News  Updated at: 2024/09/12

Toyota to stop producing C+pod this summer Toyota Motor Corporation (Toyota) will stop producing the C+pod, a two-seat ultra-compact electric vehicle (EV), this summer. The decision was announced on the company’s official website by January 15. Toyota began the sales of the C+pod to corporate users and local governments in December 2020 and to the general public in 2021. It was used mainly for car-sharing services targeting short-distance trave...

News  Updated at: 2024/01/17

Honda to electrify all mini vehicles by 2030 Honda Motor Co., Ltd. (Honda) will electrify all new mini vehicles by 2030. The automaker will gradually electrify mini vehicles, starting with the “N-VAN” mini commercial vehicle that will be released in 2024. Japan, which is behind other major countries in terms of the popularization of electric vehicles (EVs), has started to see growing sales of mini EVs that are often used for short travel, suc...

News  Updated at: 2023/11/16

reviously seen double-digit growth and having overtaken Argentina in market size terms. Understanding how this occurred can also give insights into the future of the Chilean market. A stable democratic government and an opening up of the economy to numerous free-trade agreements have helped vehicle sales thrive in several ways. Although having no domestic auto production, free-trade agreements along with some of the easiest regulations for manufa...

News  Updated at: 2023/07/12

nits, increasing by 113% YoY and accounting for 16% of total China PV production. At a monthly level, export growth in the past five years is significant but demonstrates seasonal characteristics. The volume of exports in the second half of the year is typically higher than in the first half. Since 2020, and despite the outbreak of the COVID-19 pandemic around the world, the resilience of China’s automobile industry supply chain has been fully ...

News  Updated at: 2023/06/15

Ford releases statement on EV tariffs of UK-EU trade and cooperation agreement On May 18, Ford announced that it has long supported the UK government’s zero-emission vehicle (ZEV) mandate, prescribing the proportion of EV car and van sales from 2024. Introducing EV tariffs at the same time will undermine the mandate and slow the growing EV trend. Ford is calling for current UK-EU trade and cooperation agreement requirements to be extended to 20...

News  Updated at: 2023/05/18

Gansu Province issues carbon peaking implementation plan On May 11, the People’s Government of Gansu Province issued on its official website the “Carbon Peaking Implementation Plan for Gansu Province” (the Plan). The Plan specifies how Gansu will reach a non-fossil energy consumption proportion of 30%, reduce energy consumption per unit of gross regional product by 12.5% over 2020, and ensure that the reduction in carbon dioxide emissions p...

News  Updated at: 2023/05/17

UK passenger car sales increase 26.2% in February According to the Society of Motor Manufacturers and Traders (SMMT) on March 6, UK passenger car sales increased 26.2% to 74,441 units in February 2023.While February is typically low volume ahead of the March plate change, this year it marked the seventh month of consecutive growth as easing supply chain shortages steered the market closer to pre-pandemic levels, down just -6.5% on the same month ...

News  Updated at: 2023/03/08

CES 2023: Sony Honda Mobility preparing EV reveal for January 4 On December 19, Sony Honda Mobility (SHM) announced through social media that it will reveal its progress in its joint-EV development project at CES 2023 in Las Vegas, Nevada on January 4.A teaser video shows a small portion of the new electric vehicle.Sony will focus on in-car infotainment and entertainment systems, such as the ability to watch movies and play games on an integrated...

News  Updated at: 2022/12/30

Hyundai Indonesia discontinues sales of Ioniq Electric sedan Reported on December 8, 2022, PT Hyundai Motors Indonesia has decided to discontinue sales of Ioniq Electric sedan, leaving Hyundai Kona EV and the locally-made Ioniq 5 in its current local BEV lineup. Its discontinuation in Indonesia is in line with the principal decision of Hyundai to stop producing Ioniq Electric at the Ulsan plant starting July 2022. So far, the Ionic Electric elect...

News  Updated at: 2022/12/09

LMC Automotive blog: BEVs take off faster than expected in ASEAN countries Following the implementation of EV incentive schemes by policymakers, especially in the two largest markets of Thailand and Indonesia, battery electric vehicles (BEVs) have taken off faster than expected in ASEAN countries. The pace of BEV penetration appears to have accelerated and is being driven by non-Japanese manufacturers. At this early stage of transitioning to elec...

News  Updated at: 2022/12/05

SAIC-GM-Wuling Automotive considering to enter Japanese market SAIC-GM-Wuling Automotive Co., Ltd. (SGMW), a Chinese low-priced electric vehicle (EV) maker, is considering entering into the Japanese market. Mr. Sun Feng, President of Apatech Motors (Shinagawa Ward, Tokyo), which started the marketing business for SGMW in Japan in the spring of 2022, revealed that Apatech Motors has presented SGMW a business vision to start sales of imported cars ...

News  Updated at: 2022/11/04

after another, the global Light Vehicle market continues to struggle to gain any real traction. Even though it has posted stronger selling rates in recent months, that is primarily a result of a rapid improvement in the China market, which itself is benefitting from a temporary purchase tax cut on cars. Across much of the world, supply bottlenecks remain the key reason for holding back better sales results. However, as Europe and North America h...

News  Updated at: 2022/10/07

LMC Automotive blog: The future of SEAT and Skoda within VW Group In Europe, if you have been in the market for a family hatchback, the chances are that you may have considered the Volkswagen Golf, which for a long time (up until 2020) was the best-selling passenger car in Europe. And for buyers wanting to choose an alternative to the most popular option, VW Group also offered similar packages with the SEAT Leon and Skoda Scala. This theme repeat...

News  Updated at: 2022/10/04

LMC Automotive blog: Thailand’s journey to becoming ASEAN’s EV hub Climate change, rising oil prices, air pollution, government policies, and stricter emission standards – these are all factors in the worldwide understanding that electric vehicles (EVs) are necessary. This rapid global transition to EVs puts ASEAN’s automotive industry at risk as their main products are still internal combustion engine (ICE) vehicles. Among ASEAN, Thailan...

News  Updated at: 2022/09/26

LMC Automotive blog: Will Germany’s likely PHEV grant removal hasten the demise of this technology in Europe? It looks increasingly likely that revisions to Germany’s government grants for the purchase of a plug-in car will result in the abolition of the plug-in hybrid (PHEV) grant from the start of 2023. At present this is worth a maximum of EUR 6,750. To qualify for this amount, cars need to have a homologated electric-only range of 60km an...

News  Updated at: 2022/08/02

edit is included in a broader legislative package that revives key portions of President Joe Biden's domestic political agenda and contains about USD 369 billion on climate and energy spending.The extension will allow OEMs to continue offering USD 7,500 in tax credits for the purchase of new "clean cars" with certain conditions:The EVs will need to be built with minerals extracted or processed in a country the U.S. has a free trade agreement with...

News  Updated at: 2022/07/30

BYD presents the D1, its third electric car in Brazil On July 18, BYD launched the compact D1, its third EV model in the Brazilian market following the seven-seat Tan SUV and the Han sedan.The electric D1 will be sold direct to large fleet owners for BRL 269,900.The D1 was designed with certain attributes for corporate customers, such as a sliding side door.Launched in the Chinese market in 2020 and with more than 100,000 units produced in 2021, ...

News  Updated at: 2022/07/20

LMC Automotive blog: The rapid rise of NEVs in China Sales of New Energy Vehicle (NEV) models* surged by 110% in the first five months of this year in China’s passenger car (PV) market, against a drop of 5% in the overall market in the same period as it suffered from the strict regional COVID-19 lockdowns in March and April. The impact of the pandemic on the NEV market was far smaller than its effect on the internal combustion engine (ICE) mark...

News  Updated at: 2022/07/19