article thumbnail

IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

Green Car Congress

The magnitude of gasoline demand decline will be much greater than the impact of the 2008 recession and could be further protracted depending on how effective social distancing measures are at controlling the spread of the COVID-19 virus. during the global recession in 2008/2009. IHS Markit forecasts 2020 US auto sales to be 14.4

Gasoline 269
article thumbnail

GM Shows Picture of New Chevrolet Agile for Mercosur Market

Green Car Congress

General Motors provided an image of the new Chevrolet Agile, a small car designed in Brazil and due to launch in that market in October. The Agile is targeted for emerging markets such as Brazil, Argentina, Paraguay and Uruguay (Mercosur). In 2008, it posted record annual sales (548,941 vehicles). The 2010 Agile.

Chevrolet 280
article thumbnail

Toyota CEO steps down, opening up possibility of new EV strategy

Teslarati

Toyoda is known not only for his relation to the founder of the largest automotive company in the world, but also for taking the helm of CEO at Toyota after the market collapse of 2008 and guiding the company to where it is today. Akio Toyoda’s goals within the auto industry were clear.

Toyota 143
article thumbnail

Center for Automotive Research calls long-run economic risk to auto industry of mandating permanent fuel economy standards very serious; recommends periodic reviews

Green Car Congress

Plug-in hybrids dominate market penetration in 2025 under CAR scenario IV (62 mpg CAFE standard). The CAR report, the US Automotive Market and Industry in 2025 , relies on technology and market forecast data from the National Research Council (NRC) and J.D. the 2008 model year fuel economy ratings. Source: CAR.

article thumbnail

IHS Markit: average age of cars and light trucks in US rises again in 2019 to 11.8 years

Green Car Congress

From 2008-2013, however, the increase was 12.2%. This represents one of the highest annual increases the US auto industry has seen since IHS Markit began tracking VIO growth—second only to the 2.3% There is simply a lack of 2008 and 2009 model year vehicles due to the lower sales numbers during that timeframe.

Light 268
article thumbnail

GM to buy back 200M shares held by US Treasury for $5.5B

Green Car Congress

The share buyback is part of the Treasury’s plan, also announced today, to fully exit its entire holdings of GM stock within 12 to 15 months, subject to market conditions. Government ownership of GM stock was the result of the auto industry rescue that began under President George W.

GM 259
article thumbnail

Automotive Market Research Perspectives on Selling Green in a Try-to-Survive Market

Green Car Congress

In a panel session entitled “Does Green Matter in a Try-to-Survive Market?” How big is the green market? Both Edwards and Miller believe that for the foreseeable future hybrid powertrains will not dramatically increase their market share until fuel prices remain high for an extended period of time. by Bill Cooke.

Market 170