According to Reuters, on October 2, the Italian Automobile Industry Federation (FIM-CISL) said that due to continued weak market demand, especially for electric vehicles, automaker Stellantis’s car production in Italy this year will fall below 500,000 from 751,000 in 2023. Ferdinando Uliano, head of FIM-CISL, said that “if the trend in the third quarter continues into the fourth quarter, production (the situation) will become more severe”, when (full-year) sedan production will be less than 300,000 and van production will be about 200,000. The report said that this forecast shows that Stellantis’ production level in Italy is far below the goal it is discussing with the Italian government, which […]
In August 2024, Chinese electric vehicle sales in the European market fell by 48% year-on-year, a phenomenon that has garnered widespread attention within the industry. The decline in sales is primarily attributed to intensified market competition, heightened consumer demands for product performance and pricing, as well as supply chain challenges faced by some brands. Amidst this backdrop, BYD has achieved growth, with a noticeable increase in sales, further solidifying its market position in Europe. Analysts point out that BYD’s success can be attributed to its ongoing innovations in battery technology, smart driving, and vehicle design. Additionally, BYD’s flexible market strategy, including the launch of models tailored to local demands […]
To boost sales, Ford Motor Company has announced that it will provide free home chargers to electric vehicle consumers in the United States by the end of 2024. This new initiative aims to reduce the cost of ownership for consumers and enhance the appeal of electric vehicles, particularly in the context of increasing market competition. Ford stated that the free chargers will not only make it more convenient for owners to charge at home but also improve the overall user experience of electric vehicles. The company hopes that this measure will encourage more consumers to choose electric vehicles and promote the development of sustainable transportation. The initiative has […]
On September 30, 2024, British luxury car manufacturer Aston Martin issued a warning that, due to disruptions in the automotive parts supply chain and a sluggish Chinese market, the company expects its core profits for the year to decline. Additionally, Aston Martin has lowered its full-year production forecasts. This news triggered significant market attention, causing the company’s shares to drop by 8% in early trading. Analysts point out that supply chain issues and changing market conditions pose significant challenges for luxury car manufacturers, and Aston Martin’s adjustments reflect the broader pressures faced by the industry. Despite its esteemed reputation in the luxury automotive sector, these external factors create uncertainty […]
According to foreign media reports, the U.S. National Highway Traffic Safety Administration (NHTSA) said on September 27 that Toyota Motor Corp. will recall more than 42,000 vehicles in the U.S. due to the malfunctioning of the Power Brake Assist system in these vehicles, which may lead to longer braking distances. Like many recent automobile recalls, this Toyota recall stems from a software issue.The NHTSA noted that there is a software error in the electronic control unit that manages the vehicle during skidding, which can cause the vehicle’s braking assistance to malfunction during cornering. Power brake assist failure can lengthen the […]
Earlier on October 1, local time, tens of thousands of workers at more than 30 terminals on the U.S. East Coast and Gulf Coast went on strike. According to Automotive News, the strike could have a significant impact on the automotive supply chain. In the 12 months ending June 30, 2024, the ports affected by the strike handled $37.8 billion worth of automotive imports, according to S&P Global Market Intelligence (S&P Global Market Intelligence). Bill Long, CEO of the Motor & Equipment Manufacturers Association (MEMA), noted that this figure does not include auto parts, and if the strike continues, shortages could lead […]