article thumbnail

The $10,000 BYD Seagull EV is scaring the U.S. auto industry

Teslarati

market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do. BYD launched its Seagull, a small hatchback EV with a price tag starting at 69,800 yuan (~$9,773), at the Shanghai Auto Show last year. auto market anytime soon , some U.S.

article thumbnail

Germany pumping €1B into plug-in vehicle subsidies, infrastructure; base price cap of €60K

Green Car Congress

billion) (€600 million from the federal government, €600 million from the auto industry) and has a term expiring no later than 2019. High-priced luxury models are not eligible; the funding ceiling for each base model is €60,000 (US$68,000) net / list price. The total funding is limited to €1.2 billion (US$1.4

Plug-in 150
article thumbnail

China to allow extended sales periods for ICE models based on existing emissions standard, report says

CN EV Post

Price war has been the most talked about topic in China's auto industry this month, and the imminent implementation of a new emissions standard is seen as a major factor. This was seen as the beginning of the massive outbreak of the price war.

Standards 114
article thumbnail

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

Green Car Congress

The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1 Further, according to the latest IHS Markit forecasts, the global auto industry will exerience an unprecedented and almost instant stalling of demand in 2020, with global auto sales forecast to plummet more than 12% from 2019 to 78.8

Gasoline 269
article thumbnail

BYD had its slowest profit growth in two years in Q4

Teslarati

auto industry BYD’s full-year 2023 net profit increased by 80.7 “The latest round of price cuts would inevitably result in a margin hit,” said John Zeng, London consulting firm GlobalData’s Head of China Market Forecasting (via Reuters ). The $10,000 BYD Seagull EV is scaring the U.S. percent to 30.04

BYD 108
article thumbnail

Study finds technology cost of achieving European 2020 LDV CO2 targets more than offset by resultant fuel savings

Green Car Congress

Provisional 2030 economic impact of achieving the 2020 targets in the two Phase I scenarios—Current Policy Initiatives and Tech 1— compared to baseline. In the second scenario, Tech 1, cars and vans achieve slightly higher efficiency levels in 2020 and continue along a similar trajectory of around 3% annual improvement.

Cost Of 261
article thumbnail

CAR: US light-duty vehicle sales to dip in 2019

Green Car Congress

CAR’s forecast includes a continuation of sales declines in 2020 and 2021 down to 16.5 Solid new housing starts and home prices rebounding to pre-recession levels. The Center for Automotive Research’s (CAR’s) updated automotive sales outlook forecasts US light-duty vehicle sales at 16.8 million units for 2019. million units in 2021.

2019 170