article thumbnail

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.

article thumbnail

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.

article thumbnail

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.

article thumbnail

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?

GM 52
article thumbnail

Will it be a Hossan or Ninda? Honda dumps GM, plans new family of affordable electric cars with Nissan

EV Central

Radical Renault 5 electric hatch warming for Australia as Tesla rival after Geneva It’s not known if the ultimate aim of the new deal is to also help Honda roll out a new family of affordable electric cars, but originally the brand declared that from now until 2030 it will launch 30 new EVs.

Honda 91
article thumbnail

Volkswagen wagons in US fall to SUV surge

Green Car Congress

Volkswagen will continue building the Alltrack at the Puebla, Mexico plant through December 2019 to provide enthusiasts additional opportunity to own an affordable, European-designed wagon. Over the past several years, demand among American consumers has shifted from wagons to SUVs. CROZZ electric SUV debuts early next year.

SUV 186
article thumbnail

Kia mulls EV plant in Thailand to take on Toyota and BYD with affordable electric cars

Baua Electric

Can Kia challenge Toyota, which has dominated the market in Thailand, with affordable EVs? Affordable electric cars are coming Kia has already revamped the brand as the industry transitions to electric with a new logo and design. The Korean automaker is also seeing early success with its first three-row electric SUV , the EV9.