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Honda admits it needs affordable EVs with plans for an electric Civic successor

Baua Electric

For Honda to compete as the industry shifts to electric, CEO Toshihiro Mibe explained, “We need more affordable EVs.” Honda to launch an affordable electric Civic replacement The company revealed two new EV concepts as part of its new “0 series” electric brand at CES earlier this month. Let us know below.

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Tesla is no longer just a luxury brand, says major auto outlet

Teslarati

Tesla price cuts push EV market toward affordability with broader influence In 2022, Tesla’s prices were higher and were competing with companies such as Mercedes-Benz, Aston Martin and Lexus. The post Tesla is no longer just a luxury brand, says major auto outlet appeared first on TESLARATI. average car price.

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Ford promises more affordable EVs as it loses money on them

Baua Electric

Sales were down 20% from a year earlier, but revenue was down 84%, something Ford attributed to industry-wide EV price cuts. Farley has also said cost parity with internal-combustion vehicles might not happen until 2030 , although plans for an LFP battery plant in Michigan that Ford sees as key for EV affordability might accelerate that.

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Ford Mustang Mach-E price cuts are proving affordable EVs are in demand

Baua Electric

Ford is moving inventory after slashing prices by up to $8,100 on its best-selling electric SUV, the Mustang Mach-E , last month. A recent Cloud Theory report reveals that the price cuts are working as buyers look for more affordable EVs. In February, sales of the electric SUV surged 64% year over year. billion last year.

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GM: Q2 gross sales up 19% on industrial, SUV positive factors

Baua Electric

Day to moment, GM stated it has completed its best industrial gross sales since 2007. Complete-size SUV gross sales soared 42 % within the quarter. Pickups and full-size SUVs — GM’s maximum winning automobile traces — accounted for 45 % of the corporate’s gross sales within the first part of 2023. Do you know?

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2024 trends in the auto industry promise a focused approach | Autocar Professional

Baua Electric

Year 2024 promises to be an exciting one for the automotive industry as it moves into new territories of innovation and changing customer demands. So, while the Covid-19 lockdowns severely affected the entire automotive industry’s value chain, it also began to embrace a fresh perspective amidst the global crisis. lakh crore (USD 69.7

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Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. The company’s shares were down about 4% in early trade.